International - Copperbelt Katanga Mining

Barrick makes progress on $7bn copper project in Pakistan

October 17, 2022October 17, 2022 admin

Barrick Gold (TSX: ABX)(NYSE: GOLD) said on Monday it had achieve a significant legal milestone to proceed with the development of the giant Reko Diq copper-gold deposit in Pakistan, close to the borders of Iran and Afghanistan. During a four-day visit to the country, president and chief executive Mark Bristow held discussions with several stakeholders, which finished with all the documents needed to start building Reko Diq being approved by the country’s president Arif Alvi. Paperwork was filed on Saturday with the supreme court, Barrick said, adding that once that transaction is completed, the… Read More Here

Copper maintains its good momentum at USD 7,636.45 for the second week in a row

October 17, 2022October 17, 2022 admin

The price of copper on the international market should maintain its good momentum, which started almost three weeks ago. According to the estimates of the National Commission of Mercurials of the Ministry of Foreign Trade, for the period from October 17 to 22, 2022, copper should register a slight increase in price to trade at 7,604.30 USD per ton against 7 604.30 USD per tonne the previous week, an increase of around 32.15 USD. According to these market price experts, the general trend of mining products exported from the Democratic… Read More Here

HAS GLENCORE GIVEN ELECTRIC VEHICLES THE EXTRA PUSH TO ENGINEER COBALT OUT OF A BATTERY?

October 17, 2022October 17, 2022 admin

Is cobalt becoming its own worst enemy? Simon Moores, Managing Director, Benchmark Mineral Intelligence explores Glencore’s latest move to pull hydroxide supply from the market in the midst of contract negotiating season and what it means for cobalt’s strained relationship with cathode, battery and electric vehicle (EV) producers. On Tuesday 6 November, the wires and social media channels were lit up with a seemingly significant piece of cobalt news: Glencore had pulled 1,472 tonnes of cobalt hydroxide from the market. The basis for the world’s leading producer to act in this way… Read More Here

Copper International

Codelco offers 2023 European copper premiums at record high

October 16, 2022October 18, 2022 admin

Chile’s Codelco, the world’s biggest copper miner, is offering to sell copper to European buyers at a record high premium around $235 a tonne for 2023, a rise of 85% from 2022, two sources familiar with the matter said. The premiums set by state-owned Codelco for physical delivery of copper, paid on top of the London Metal Exchange contract, are seen as a benchmark for global contracts. Codelco in London declined to comment. “Many European consumers don’t want Russian copper, they have to look elsewhere,” one of the sources said.… Read More Here

Energy Equipment & Technology International

Fortescue sees first major hydrogen project within next 9 months

October 14, 2022October 14, 2022 admin

Fortescue Future Industries will announce its first major clean energy project within the next nine months, as the unit of Fortescue Metals Group Ltd. attempts to reach its ambitious green hydrogen production goals. “We’ve got a couple of projects which are getting very close to first investment decision, and so we’re looking to do that certainly over the next nine months or so to have those announcements out there,” Guy Debelle, chief financial officer of FFI and former deputy governor of the Reserve Bank of Australia, said in an interview… Read More Here

International Copper Gold

Barrick Gold reports preliminary Q3 sales of 1.00 million ounces of gold and 120 million pounds of copper

October 13, 2022October 13, 2022 arnbethnic

Strong year-to-date copper performance and higher gold grades in Q4 expected to drive delivery of 2022 production guidance Barrick Gold Corporation today reported preliminary Q3 sales of 1.00 million ounces of gold and 120 million pounds of copper, as well as preliminary Q3 production of 0.99 million ounces of gold and 123 million pounds of copper. Access to high grade ore that was previously expected in late Q3 at Nevada Gold Mines is now scheduled for Q4, which should drive a strong finish to the year. Barrick remains on track… Read More Here

Technology & Innovation International Sponsored Content

Solar Streetlighting for Postmasburg | BEKA Schréder

October 13, 2022October 13, 2022 arnbethnic

BEKA Schréder is proud to have supplied the LED solar streetlighting solution for Postmasburg in the Northern Cape Province, South Africa. BEKA Schréder’s South-African designed and manufactured BEKA SOLAR streetlights have been installed throughout Postmasburg. This new streetlighting installation is the next phase of a previous project where these solar streetlights have been installed. Due to the proven high quality of these products, BEKA Schréder’s lighting solution was chosen again. The BEKA SOLAR streetlight for outdoor residential and public applications provides a full customizable option to suit all off-grid solar… Read More Here

Gold International

Gold price fluctuates as BOE warning leaves investor sentiment fragile

October 12, 2022October 12, 2022 admin

Gold fluctuated after comments by the Bank of England on removing emergency market support by the end of the week rattled traders, leaving investor sentiment fragile. BOE Governor Andrew Bailey’s warning to fund managers to wind up positions that they can’t maintain before market support is withdrawn at the end of the week drove up Treasury yields and the dollar on Tuesday, pressuring gold. The non-yielding metal gave up gains to end the day slightly lower. Bullion edged up Wednesday from a one-week low, while traders await critical US inflation… Read More Here

International Equipment & Technology Technology & Innovation

ELMAR project seeks to bring optimised autonomous & electric haulage to European mining

October 12, 2022October 12, 2022 arnbethnic

The goal of the new ELMAR project, with in place funding of around €11 million from Germany’s Federal Ministry for Economic Affairs and Climate Action (BMWK), is to integrate and demonstrate the use of electric heavy-duty transport machines in Europe’s raw materials extraction industry. The launch statement adds: “There is no question – a secure supply of mineral raw materials is elementary for the competitiveness and prosperity of Germany and Europe. At the same time, the extraction of raw materials is a significant emitter of CO2 and must therefore transform… Read More Here

International Equipment & Technology Technology & Innovation

Epiroc launches next step in production drilling – Simba E70 S shines its lights on process management

October 12, 2022October 12, 2022 arnbethnic

Epiroc’s new long-hole production drill rig for medium to large-sized drifts, Simba E70 S, offers more than cutting-edge automation features and excellent drilling quality. It also provides Epiroc’s optimization method; a step-by-step program that continuously improves how the machine is utilized in the mining process. What makes Simba E70 S the next obvious step in production drilling is not its automated features alone. It is also the ability to track and evaluate its performance, then optimize accordingly. This is made possible by production reporting; the first step in Epiroc’s optimization… Read More Here