International - Copperbelt Katanga Mining

A ton of cobalt falls to 64,985.00 USD on the International Market

July 6, 2022July 6, 2022 admin

The price of cobalt recorded a spectacular fall this Tuesday, July 5, 2022 on the international metals market in London. The prices displayed on the London Stock Exchange indicate that cobalt is sold at 64,985.00 US dollars on Tuesday July 5 against 70,000 USD per ton on July 1, 2022. In less than five (5) days, a tonne of cobalt recorded a price drop of around 5,015 USD. In addition, it should be noted that the general trend in the prices of mining export products from the Democratic Republic of… Read More Here

Gold International

Gold teeters above $1 800 as lower yields counter dollar strength

July 4, 2022July 4, 2022 admin

Gold inched higher in choppy trade on Monday, as weakness in Treasury yields kept prices above the $1 800 mark and marginally outweighed pressure stemming from an elevated US dollar. Spot gold was up 0.1% at $1 811.76/oz, as of 05:44 GMT. US gold futures rose 0.7% to $1 813.70. Bullion prices hit a five-month low of $1 783.50 on Friday, but recovered to end the session nearly steady. “Once again, we saw buyers support gold with its break below $1 800 on Friday, and with US yields continuing to retrace, it allows the potential for gold to rise over the… Read More Here

Copper International

Copper sinks to 17-month low as slowdown fears mount

July 4, 2022July 4, 2022 admin

Copper prices dropped to a fresh 17-month low on Monday as renewed lockdowns in top consumer China and the prospects of aggressive rate hikes stoked fears of global economic slowdown, denting demand for metals. Three-month copper on the London Metal Exchange was down 1.4% at $7 938/t, as of 07:17 GMT, after hitting its lowest since early-February 2021 at $7 918 earlier in the session. The most-traded August copper contract in Shanghai ended daytime trading down 3.1% to 60 660 yuan a tonne. “Softening demand and concerns over a growth slowdown are dragging on the… Read More Here

Equipment & Technology International Mining technology

Sandvik to acquire PCD tools manufacturer Frezite

July 4, 2022July 4, 2022 admin

Sandvik has signed an agreement to acquire 100% of the equity interests of the Portugal-based company Frezigest, SGPS (“Frezite”). Frezite’s offering primarily consists of made-to-order polycrystalline diamond (PCD) tools for metal and wood applications, with exposure to the automotive, general engineering and aerospace segments. The company will be reported within Walter, a division within Sandvik Manufacturing and Machining Solutions. “With the acquisition of Frezite, we take another important step in our shift to growth strategy. We have a clear ambition for our machining solutions business to increase our presence and… Read More Here

International Oil & Gas

The barrel of crude oil fell by around 8.7% as of June 23, 2022

July 1, 2022July 1, 2022 admin

As of June 23, 2022, the price of Brent crude oil per barrel was set at 109 US dollars on the international market against 115 USD a week earlier. This is what informs the weekly information note of the Central Bank of Congo on the evolution of commodity prices on the international market. According to the Congolese Central Bank, during the period mentioned, oil experienced a price drop of around 8.7%. According to the same source, this price drop was influenced by fears of sluggish growth combined with high inflation.… Read More Here

Copper International

Copper slumps to 17-month low as recession fears haunt markets

July 1, 2022July 1, 2022 admin

Copper prices tumbled to a near 17-month low on Friday and were set for their fourth consecutive weekly decline, as fast-rising interest rates and weak economic data stoked fears of a global recession, which would dent demand for metals. Other industrial metals also fell, with zinc dropping over 6% this week and aluminium heading for its sixth straight weekly fall, down 2.4%. Three-month copper on the London Metal Exchange slipped 2.7% to $8,034 a tonne, as of 0719 GMT, after dropping to its lowest since early February 2021 at $8,021.50 in the session. The metal registered its… Read More Here

Gold International

Uganda discovers gold deposits worth 12 trillion USD

June 30, 2022July 4, 2022 admin1 Comment

Uganda announced that it had discovered 31 million metric tons of gold waiting to be mined in the country after several surveys were conducted. A spokesperson from the Ministry of Energy and Mineral Development in Uganda, Solomon Muyita, said that these reports are aimed at attracting gold miners and investors in the crypto sector. In a bid to boost the country’s economy, the Ugandan government has licensed Wagagai gold mining company, a Chinese firm to start producing gold products in Busia district. The company embarked on the construction of its… Read More Here

Copper International

Copper price heads for biggest quarterly plunge since 2011

June 30, 2022June 30, 2022 admin

Copper prices are down almost 20% in the second quarter, the biggest quarterly fall since 2011, after covid lockdowns in China and slowing economic growth curtailed demand. Copper for delivery in September fell 2.2% from Wednesday’s settlement, touching $3.70 per pound ($8,140 per tonne) Thursday morning on the Comex market in New York, the lowest since February 2021. Other industrial metals were also headed for their biggest quarterly fall in several years, down between 20% and 40%. “We still see metals falling as a recession in the US is fully… Read More Here

Copper International

The price of a tonne of copper should register a negative difference of 434.7 USD from June 27 to July 2, 2022

June 29, 2022June 29, 2022 admin

The price of a tonne of copper should register a very significant negative difference on the international metal market for the period from June 27 to July 2, 2022, inform the projections of experts from the National Mercurial Commission of the Ministry of Foreign Trade. According to these experts from the Ministry of Foreign Trade, during this week, the ton of copper should sell at 8,960.20 USD per ton against 9,394.90 USD per ton last week, i.e. a negative difference in the price of copper. order of the order of… Read More Here

International Mining Companies

Ivanhoe Electric shares fall in debut after $169 million IPO

June 29, 2022June 29, 2022 admin

Shares in Ivanhoe Electric (NYSE America, TSX: IE), the latest endeavour of mining magnate Robert Friedland, were falling on their trading debut on Tuesday morning after the company raised as much as $169 million in an initial public offering on Monday. The exploration and development company, which owns properties in Arizona, Utah and Montana, along with a battery storage business, sold on Monday almost 14.4 million shares for $11.75 each, slightly short of the $12.5 each it aimed for. The transaction, however, was still the biggest US IPO since May 12, when oilfield… Read More Here