International - Copperbelt Katanga Mining

Aton obtains a bridge loan for its drilling program at the Rodruin gold project in Egypt 1

For nearly three years, Egypt has become more attractive to mining investments, thanks to a change in its regulations. The objective of the authorities is to increase the contribution of the Mines to the economy, in particular thanks to gold. Only one gold mine is currently operated in the country. In Egypt, the Canadian mining junior Aton Resources remains well funded to continue its exploration campaign at the Rodruin gold deposit. It obtained a bridge loan of 2 million Canadian dollars ($1.3 million) from Moonrider, with an annual interest rate of 12%. At… Read More Here

Graphite International

How Madagascar intends to become one of the main alternatives to Chinese domination in graphite

September 24, 2022September 24, 2022 arnbethnic

On September 8, 2022, Tirupati Graphite announced the purchase of three mining permits covering 31.25 km² in Madagascar. The latest investment by this company, which already operates two graphite mines in the center of the Big Island, illustrates the attraction that graphite from Madagascar arouses thanks to the explosion in global demand for this product. An interest that could well position the country as a choice alternative to China. In a report published in August 2022, the firm Wood Mackenzie predicts that Africa will become the world’s largest producer of natural graphite… Read More Here

Equipment & Technology International Mining technology

Caterpillar surpasses 5 billion tonnes of material autonomously hauled

September 23, 2022September 23, 2022 admin

Roughly nine months after reaching the 4-billion-tonne (4.4-billion-ton) autonomously hauled milestone, trucks equipped with Cat® MineStar™ Command for hauling have now moved over 5 billion tonnes (5.5 billion tons), the OEM says. Cat autonomous trucks are on pace to eclipse previous record totals of materials hauled in a calendar year, projected to be more than 1.4 billion tonnes (1.57 billion tons) in 2022. Currently, more than 550 mining trucks are equipped with Command for hauling, operating across three continents. Over the last nine years, trucks equipped with Command for hauling… Read More Here

Equipment & Technology International Mining technology

Sandvik develops vision for mining automation with AutoMine® Concept Underground Drill

September 23, 2022September 23, 2022 admin

Sandvik Mining and Rock Solutions has introduced its AutoMine® Concept Underground Drill, the company’s second technology demonstrator for its future autonomous mining vision. The AutoMine® Concept Underground Drill is a fully autonomous, twin-boom development drill rig capable of drilling without human interaction. The cabinless battery-electric drill can plan and execute the entire drilling cycle from tramming to the face, setting up for drilling, drilling the pattern and returning home to charge for the next cycle. Less than two years after introducing the AutoMine® Concept Loader – the first fully autonomous underground mining machine built specifically for automation – Sandvik has expanded its vision from autonomous mucking to autonomous drilling with its AutoMine® Concept Underground Drill. “We’re continuing… Read More Here

Copper International

Copper prices fall despite signs of looming crucial metal shortage

September 22, 2022September 22, 2022 arnbethnic

A Great Copper Squeeze Is Coming for the Global Economy The recent downturn for copper prices only stands to worsen a coming deficit as the slump discourages new investments for the metal used in EVs and power grids. The price of copper — used in everything from computer chips and toasters to power systems and air conditioners — has fallen by nearly a third since March. Investors are selling on fears that a global recession will stunt demand for a metal that’s synonymous with growth and expansion. You wouldn’t know it from… Read More Here

Copper International

Copper price rebounds on weaker dollar

September 22, 2022September 22, 2022 admin

Copper price rose on Thursday, boosted by a weaker dollar and optimism about stimulus measures in China. Copper for delivery in December rose 1.58% from Wednesday’s settlement price, touching $3.52 per pound ($7,744 per tonne). The dollar index dropped after Japan intervened in the currency market to shore up the battered yen for the first time since 1998. “A weaker dollar is definitely helpful, the question mark is how long that can be sustained when you’ve got the Fed being aggressive with rate increases,” said Nitesh Shah, commodity strategist at… Read More Here

International Gold

Gold price wavers after Japan intervention, central banks’ rate hikes

September 22, 2022September 22, 2022 admin

Gold fluctuated after Japan intervened in the foreign exchange market and central banks around the world followed the Federal Reserve with further monetary policy tightening. Japan’s Ministry of Finance moved to halt a slide of the yen against the dollar, the country’s top currency official Masato Kanda said Thursday. After the Fed’s third consecutive large-sized rate hike, central banks in Switzerland, Norway and Britain announced hikes of their own as officials rush to rein in rampant price increases. The greenback fell after Japan’s intervention before clawing back most of the… Read More Here

International Copper Mineral Processing

An economist calls for accelerated efforts to localise mineral processing in Botswana

September 21, 2022September 23, 2022 arnbethnic

Top economist, Naledi Madala of Absa Bank Botswana has called on Government budgeting to reflect serious and deliberate intentions to fast track mineral beneficiation in Botswana. Speaking at this year’s Budget Pitso held in Gaborone on Tuesday, Mrs Naledi Madala said mineral beneficiation in Botswana has been a talk for years, noting that albeit efforts in the diamond space, very little has been done in other mineral sub-sectors such as coal and copper. “There was a lot of talk about mineral beneficiation around 2012 – 13, but that topic has… Read More Here

Equipment & Technology International Mining technology

Fortescue pledges $6.2bn to eliminate emissions by 2030

September 20, 2022September 20, 2022 admin

Iron-ore major Fortescue has announced a $6.2-billion investment by 2030 to eliminate fossil fuel use and achieve real zero terrestrial emissions across its iron-ore operations. The miner said in statement on Tuesday that the investment would eliminate Fortescue’s fossil fuel risk profile and enable it to supply its customers with a carbon-free product. The majority of the capital will be spent in 2024 to 2028, and will include the deployment of an additional 2 GW to 3 GW of renewable energy generation and battery storage and the estimated incremental costs associated with a green mining fleet and locomotives.… Read More Here

Copper International

Europe upstages China as main driver for copper outlook

September 20, 2022September 20, 2022 admin

Shrinking copper demand in Europe due to a manufacturing recession caused by the energy crisis will dominate market sentiment for some time with prices likely to retreat towards two-year lows early next year. Copper prices typically react to the ebb and flow of demand in China, which accounts for half of global consumption estimated at around 25 million tonnes this year. But this time the focus is on Europe, accounting for 15% to 20% of the global demand for copper used in power and construction. The region is facing surging… Read More Here