International - Copperbelt Katanga Mining

Gold price drops as US data signal more aggressive Fed tightening

September 29, 2022September 29, 2022 admin

Gold fell, caught up in a broad selloff as investors sought shelter in cash after the latest US economic data paved the way for more aggressive tightening from the Federal Reserve. Better-than-expected 2Q core PCE, a measure of inflation, and personal consumption numbers on Thursday suggested the US economy can handle further Fed tightening. Weekly jobless claims fell to the lowest since April, showing a persistently tight labor market. Bullion earlier fell as much as 1.1% on renewed strength in the US dollar as recession concerns returned after the Bank… Read More Here

Copper International

The price of a tonne of copper falls below the USD 8,000 mark this week

September 29, 2022September 29, 2022 admin

The price of copper is expected to fall this week in the international market after recording several weeks of breakthrough. According to projections from the Ministry of Foreign Trade’s National Market Price Commission, copper is expected to trade at USD 7,784.90 per tonne this week compared to USD 8,001 per tonne last week, a negative price differential of 216 .1 USD. The note from the experts of the Congolese Government’s National Commission for Market Prices informs that the general trend of the main mining export products of the Democratic Republic… Read More Here

Copper International

Copper production to show “strong and consistent” growth for next decade

September 28, 2022September 28, 2022 admin

A new study by Fitch Solutions Country Risk and Industry Research forecasts 7.3 million tonnes will be added to global copper production through 2031 as a raft of projects in Chile, China and Congo come online. Fitch expects global copper mine production to increase by an average annual rate of 3.2% over 2022–2031, with annual output rising from 21.9mnt in 2022 to 29.2mnt by 2031 boosted by elevated copper prices and a positive demand outlooks Chile The market researcher says top producer Chile will show a slight decline in the short term… Read More Here

Gold International

Gold price rallies to weekly high as dollar pulls back

September 28, 2022September 28, 2022 admin

Gold rose by nearly 2% on Wednesday as a slight retreat in the dollar rekindled some of its safe-haven appeal, although prospects of sharp rate hikes are still keeping the precious metal near a 2-1/2-year trough. Spot gold climbed 1.7% to $1,657.00 per ounce by 12:40 p.m. ET, touching its highest in a week and erasing some of the losses from an extended slide that dragged prices down to the lowest since April 2020. US gold futures also advanced 1.7% to trade at $1,664.60 in New York. Meanwhile, the US dollar retreated… Read More Here

Equipment & Technology International Mining technology

Byrnecut and Sandvik collaborate on new MAKO ground engaging tool

September 26, 2022September 26, 2022 admin

Sandvik, with the help of Australia-based mining contractor, Byrnecut, has developed a new and improved Ground Engaging Tool (GET) that, the OEM says, reduces downtime and cost-per-tonne mined. Over a four-year period, Byrnecut has been instrumental in the development of this new system, MAKO™. In underground mining, wear and tear is unavoidable, and nowhere is it sharper than for the buckets and the shrouds fitted to loaders. In the most abrasive conditions, the shrouds can wear out in just a few hundred hours of work. Replacing them – especially when… Read More Here

Gold International

164 miners and a Chinese gang arrested in a few days for illegal gold mining in Ghana

September 24, 2022September 24, 2022 arnbethnic

In the year 2021, Ghana lost the title of Africa’s leading gold producer. While an intensive fight against illegal exploitation has been carried out for several months, the parallel development of official circuits should encourage an increase in national production. In Ghana, the army completed a three-day operation that arrested 164 illegal gold miners, ‘ galamseyers ‘ as they are known in the country. The latter, many of whom come from Nigeria, Côte d’Ivoire, Mali, Niger and Burkina Faso, have invaded mining concessions or carry out gold panning in riverbeds. According to Ghanaian Times which reports… Read More Here

Lithium Battery Metals International

Zimbabwe announces $2.83 billion deal to locally process several metals, including lithium

September 24, 2022September 24, 2022 arnbethnic

Zimbabwe is currently the only African country to produce lithium. While Namibia, DRC, Ghana or Mali are preparing to join it, Harare is already exploring other ways to better take advantage of this resource. In Harare on Friday, September 16, the government of Zimbabwe initialed a $2.83 billion memorandum of understanding with Chinese companies Eagle Canyon International Group and Pacific Goal Investment Ltd. The tripartite partnership concerns the construction in the southern African country of an industrial complex spread over 5,000 hectares intended to locally transform several metals including lithium. According to… Read More Here

Zinc International

Namibian Rosh Pinah zinc mine in the process of being sold

September 24, 2022September 24, 2022 arnbethnic

In a few months, Trevali Mining went from a company with promising growth plans for its zinc mines in Canada, Burkina Faso, but especially in Namibia where it planned to expand its Rosh Pinah mine, to a company on the verge of bankruptcy. Trevali Mining has obtained an order from the Supreme Court of British Columbia authorizing it to initiate a sale and solicitation of investments (SISP) process to divest two zinc assets, including its 90% stake in the Rosh Pinah mine in Namibia. For interested parties, the submission deadline… Read More Here

Uranium International

GoviEx confirms the start of production of the Madaouela uranium mine for 2025 in Niger

September 24, 2022September 24, 2022 arnbethnic

In 2015, Niger granted a mining permit to GoviEx Uranium for the Madaouela project. 7 years later, the mine has still not entered into construction, in particular due to the low prices and demand observed in recent years. However, the trend has started to reverse. In Niger, Madaouela is expected to go into production in 2025, subject to obtaining financing for the construction works. This was assured by the executive chairman of GoviEx Uranium, owner of the uranium project, on the occasion of the publication on Monday, September 20 of the feasibility study.… Read More Here

International Iron & Steel

Glencore and Sinosteel cases in Cameroon, practical instances of the need for more transparency on extractive contracts

September 24, 2022September 24, 2022 arnbethnic

(Ecofin Agency) – During the month of May 2022, Cameroon experienced a controversy over an iron mining agreement signed between its government and Sinosteel , a Chinese multinational. MPs joined by part of civil society denounced this contract and demanded its cancellation, explaining that this agreement was disadvantageous for the country. In an interview granted on May 23, 2022 to the BBC Afrique radio channel, the Cameroonian minister in charge of mines denied all the fears raised by public opinion. The government subsequently decided to publish the said convention on the official website of the Ministry of Mines, Industry… Read More Here