International - Copperbelt Katanga Mining

Gold deposits found in Nkhata Bay in Malawi

July 17, 2022July 17, 2022 arnbethnic#Malawi, Gold discoveries

Malawi’s Ministry of Mining says gold deposits have been found in the farm of the late Aleke Banda at Tukombo in Nkhata Bay. The ministry’s Public Relations Officer Andrew Mkonda Banda has told the local media that a preliminary investigation has established the presence of gold deposit in the area. The discovery of gold by the ministry comes after residents from 100 villages around Tukombo Trading Centre in Nkhata Bay rushed to the estate to dig for the precious metal. The residents use hoes and other sharp objects to dig.… Read More Here

Iron Ore International

Iron ore price sinks below $100 a tonne on grim China demand outlook

July 16, 2022July 16, 2022 admin

The iron ore price tumbled below $100 a tonne on Friday on heightened fears over waning demand for steel, as China’s economy faltered in the second quarter and a crisis in its property sector appeared to be worsening. China’s economy contracted by 2.6% in the second quarter from the previous quarter due to covid-19 lockdowns. According to Fastmarkets MB, benchmark 62% Fe fines imported into Northern China were changing hands for $96.04 a tonne, down 4.24% and the lowest since November 2021. The most-traded September iron ore contract on China’s… Read More Here

Copper International

Gold price set for longest run of weekly losses since 2018

July 16, 2022July 16, 2022 admin

Gold is heading for its fifth weekly loss, the longest streak of such declines in almost four years, with haven credentials sidelined by investors becoming super-bullish on the US dollar. Bullion has come under relentless pressure in the past month as investors turn to the greenback in the face of an increasingly hawkish Federal Reserve. That trade got another boost this week from soaring US inflation. “The set-up for a deep liquidation event in gold is building,” Bart Melek, global head of commodity strategy at TD Securities said in an… Read More Here

Copper International

Copper price rebounds despite weak economic activity in China

July 16, 2022July 16, 2022 admin

The copper price rose on Friday despite growing concerns that the world economy is headed for recession. Central banks rushed to get on top of galloping inflation, with steep interest rate rises seen this week in Canada, New Zealand, Chile, South Korea, and the Philippines. Fears of an economic downturn were fanned further by Chinese data showing annualized 0.4% growth in the second quarter, the worst since at least 1992, excluding early 2020 when the covid pandemic erupted. Copper, however, rebounded at the end of the week, with the metal… Read More Here

Gold International

Gold price nears 11-month low with dollar winning battle of havens

July 14, 2022July 14, 2022 admin

Gold plummeted to a near 11-month low on Thursday as investors again turned to the US dollar as the preferred haven amid expectations for more aggressive monetary tightening measures by the Federal Reserve. Spot gold fell 1.7% to $1,706.42 by 12:50 p.m. ET, having been down as much as 2.2% earlier in the session. US gold futures also dropped by 1.7% to $1,705.50 per ounce in New York. Meanwhile, the US dollar soared to a new 20-year high, emerging as a preferred save haven in light of growing economic risks… Read More Here

Gold Copper International Mining Companies Mining in Zambia

Barrick On Track After Higher Q2 Output

July 14, 2022July 14, 2022 admin

Barrick Gold Corporation today reported preliminary Q2 sales of 1.04 million ounces of gold and 113 million pounds of copper, as well as preliminary Q2 production of 1.04 million ounces of gold and 120 million pounds of copper. As previously guided, Barrick’s gold production in 2022 is expected to increase through the year, and with the stronger Q2 performance, it remains on track to achieve 2022 gold and copper guidance1. The average market price for gold in Q2 was $1,871 per ounce. The average market price for copper in Q2… Read More Here

International Mining technology Technology & Innovation

Blasting science takes another digital step

July 13, 2022July 13, 2022 arnbethnic

To achieve optimal blasting results for mining efficiency, mines need real-time data from their blasting blocks; BME’s new generation XPLOLOG™ does just that – and is being put to work at a large opencast mine in South Africa’s Northern Cape province. “The digital revolution is giving mines valuable steppingstones toward progressively smarter mining,” said BME Product Manager (Software Development) Christiaan Liebenberg. “As blasting is an early-stage activity in the mining cycle, it can impact significantly on the efficiency of subsequent stages. Mines are looking to fast-evolving blasting technology to do… Read More Here

Cobalt International

As of July 12, 2022, the price of cobalt has fallen to USD 59,985.00 per tonne

July 13, 2022July 13, 2022 admin

The downward trend has continued for cobalt prices on the international market since May 2022. On the London Metal Exchange, a ton of cobalt currently stands at 59,985.00 US dollars. According to specialists in the sector, this downward trend is an indirect consequence of the confinements in China. Driven by the will of the actors involved in the fight against climate change, at the beginning of the year, cobalt prices amounted to around 87,000 US dollars on the international market. Since propelling themselves around a historic high in May 2022,… Read More Here

Equipment & Technology International Mining technology

Caterpillar launches new Cat MineStar Reporting platform

July 13, 2022July 13, 2022 admin

Every piece of mining equipment constantly generates critical operating and production data that is used by Cat® MineStar™ products to enable miners to make better decisions. Historically, each MineStar capability – Fleet, Terrain, Health, etc. – has different reporting tools for this captured data. Caterpillar has launched its new Cat MineStar Reporting platform for MineStar Solutions, a powerful reporting and analytics product that can consolidate information from MineStar products. Currently, MineStar Reporting supports information from MineStar Fleet, Terrain, Health and Command for hauling. Support for MineStar Edge is currently underway,… Read More Here

Equipment & Technology International Mining technology

Rajant and Epiroc Announce Validation for Semi-Autonomous and Autonomous Surface Drilling Globally

July 13, 2022July 13, 2022 admin

Rajant Corporation, the pioneer of Kinetic Mesh® wireless networks, and Epiroc, a leading productivity and sustainability partner for the mining and infrastructure industries, announce successful validation for both semi-autonomous and autonomous drilling. As part of the validation, deployment best practices guidelines were created to support the deployment of Epiroc drills with Rajant BreadCrumbs®. Epiroc has a permanent deployment at their test facility in South Africa to demonstrate semi-autonomous and autonomous drills using Rajant BreadCrumbs. Rajant is deployed on dozens of semi-autonomous and autonomous Epiroc drills globally, some of which include:… Read More Here