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GoviEx Uranium doubles financing on strong investor demand 1 Uranium International Mining in Zambia 

GoviEx Uranium doubles financing on strong investor demand

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Due to strong investor demand, GoviEx Uranium (TSXV: GXU) has revised its agreement with Sprott Capital Partners to increase the size of the recently announced bought deal financing from C$5 million to C$10 million. Sprott, on behalf of a syndicate of underwriters, will now purchase 45.5 million units of the company at a price of C$0.22 per unit. Each unit issued under the offering will consist of one Class A common share and one-half of a common share purchase warrant. Each whole warrant is exercisable at the US dollar equivalent price… Read More Here
Copper price down on rate hike fears 2 Copper International 

Copper price down on rate hike fears

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Copper prices retreated on Wednesday after touching their highest in nearly two weeks due to a resurgent dollar and persistent worries that rate hikes will hit demand. Copper for delivery in December fell 0.4% from Tuesday’s settlement price, touching $3.47 per pound ($7,634 per tonne). “The backdrop is still grim. The Fed is still determined to go after inflation and China’s economy is still struggling,” said Tom Price, head of commodities strategy at Liberum. “For over a year, the Fed has not budged from its focus to curb inflation. Its… Read More Here
Fortescue doubles green hydrogen spending as Europe push expands 3 Equipment & Technology International Mining technology 

Fortescue doubles green hydrogen spending as Europe push expands

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Fortescue Metals Group Ltd. more than doubled planned capital expenditure for its green energy arm as it added a new project in Germany, bolstering a push to deliver cleaner fuels to Europe. The firm’s Fortescue Future Industries unit will invest $130 million with Tree Energy Solutions, known as TES, to become a partner in a gas import terminal and planned green energy hub in Wilhelmshaven, Germany. Under the plans, FFI will take a 30% stake in a TES unit, the Perth-based company said Wednesday in a statement. First delivery of… Read More Here
Gold price breaks $1,700 as weak US data shifts sentiment 4 Gold International 

Gold price breaks $1,700 as weak US data shifts sentiment

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Gold continued its rally on Tuesday to an advance past $1,700 per ounce, as weak US data drove a significant sentiment shift in the precious metals markets. Spot gold rose 1.1% to $1,719.04 per ounce by 10:40 a.m. ET, its highest in three weeks. US gold futures gained 1.5% to trade at $1,727.60 per ounce in New York. Meanwhile, benchmark US 10-year Treasury yields fell to a near two-week low, while the dollar extended its decline, making gold cheaper for other currency holders. Bullion is now closing in on its 50-day moving… Read More Here
Copper price jumps after weak US manufacturing data 5 Copper International 

Copper price jumps after weak US manufacturing data

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The copper price jumped on Tuesday after weak US manufacturing data eased concerns that the Federal Reserve will tighten monetary policy too rapidly. The Institute for Supply Management’s gauge of US factory activity dropped to the lowest in more than two years in September, causing the dollar to retreat. Copper for delivery in December rose 2.3% from Monday’s settlement price, touching $3.49 per pound ($7,678 per tonne). Jobs data due later this week should provide more clues on the Federal Reserve’s rate-hike trajectory, with more robust employment gains likely to firm its… Read More Here
Sandvik wows Electra with world’s first 65t electric truck 6 Equipment & Technology International 

Sandvik wows Electra with world’s first 65t electric truck

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Visitors to Sandvik’s stand at this year’s Electra Mining Africa show were thrilled by a glimpse of the Future of Mining, as they witnessed first-hand a mining breakthrough in battery technology. The focus of everyone’s attention was undoubtedly on Sandvik’s 65 tonne TH665B battery electric vehicle (BEV), introduced to the African market en route to Australia for intensive site testing. According to Jakob Rutqvist, Vice-President Strategy and Commercial at Sandvik, this innovation takes mining decisively into the Fourth Industrial Revolution. “Many industries are well advanced in the technological trajectory of… Read More Here
Gold price extends rally as Treasury yields retreat continues 7 Gold International 

Gold price extends rally as Treasury yields retreat continues

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Bullion has now extended its first weekly gain in three, as lower bond rates boosted the appeal of the non-interest-bearing asset. Investors remained on edge about the impact of aggressive interest rate hikes after a slew of Federal Reserve officials last week re-emphasized their resolve to fight inflation. Traders will now look to US jobs data due on Friday for more clues on the future path of central bank monetary policy. That means bullion could be in for more volatility, with strong numbers potentially spurring further gains in bond yields… Read More Here
Copper price pressured by crumbling demand 8 Copper International 

Copper price pressured by crumbling demand

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The copper price was down on Monday despite expectations of weakening demand reinforced by manufacturing data from around the world, a strong dollar, and rising inventories in warehouses approved by the London Metal Exchange. Copper for delivery in December fell 0.9% from Friday’s settlement price, touching $3.40 per pound ($7,480 per tonne). “It’s clear we will have lower demand and potentially lower prices into the latter part of this year,” said Bank of America analyst Michael Widmer. “The uncertainty is how hard the slowdown will be and what the full… Read More Here
Gold enters the last quarter of 2022 depressed 9 Gold International 

Gold enters the last quarter of 2022 depressed

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Gold started 2022 well, but the recent months were pretty awful. What will it be in the final quarter of the year? Ladies and gentlemen, please welcome the final quarter of the year! What were the first nine months of 2022 for the gold market? Well, in Q1 there was an impressive rally in gold, with the yellow metal staying above $2,000 for a while. However, the next few months brought a gradual decline in gold prices. After several weeks of being traded between $1,700 and $1,800 during the summer, in September,… Read More Here
Sandvik to book charges of $471 million in third quarter 10 Equipment & Technology International Mining technology 

Sandvik to book charges of $471 million in third quarter

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Swedish metal-cutting tools and mining gear maker Sandvik said on Thursday it will book non-recurring charges of about 5.3 billion Swedish crowns ($471.56 million) in the third quarter. A capital loss of some 4.7 billion crowns stems from the distribution of its former subsidiary Alleima to shareholders, which will be reported under discontinued operations. Sandvik distributed and listed its speciality steel business on the Nasdaq Stockholm exchange on Aug. 31 of this year, renaming it Alleima. Approximately 600 million crowns of losses stem from Sandvik’s wind-down in Russia and will… Read More Here

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