International - Copperbelt Katanga Mining

Metso Outotec invests $2.3 million to level unexplained gender-related pay gaps 1

Metso Outotec, a Finland-based industrial machinery company providing technology and services for mining, aggregates, and oil and gas, announced it has invested in developing a workplace where diversity and inclusion are fostered, promoted, and embedded in the company culture. This year the company implemented a global fair pay analysis to review pay practices in all the 50+ countries in which it operates. The analysis confirmed that the existing policies and practices in Metso Outotec provide a solid foundation, and typically the salary of an employee develops in an unbiased manner… Read More Here

Equipment & Technology International Mining technology

Liebherr launches green fleet plan with Fortescue, WAE

June 16, 2022June 16, 2022 admin

German-Swiss equipment maker Liebherr Mining plans to create a battery-powered truck fleet in partnership with Australia’s Fortescue Metals Group, with the UK’s Williams Advanced Engineering helping provide green drive technology. An agreement signed today in Colmar, France at Liebherr Mining’s plant headquarters, will see Fortescue acquire 120 Liebherr haul trucks for its mining operations. The first of the zero emission-haul units will be fully operational within Fortescue’s mine sites by 2025. Liebherr will supply the trucks, while Fortescue Future Industries (FFI) will work with WAE – which Fortescue acquired in… Read More Here

International Mining Companies

Barrick Gold Corporation announces the sale of 5,382,587 shares of Perpetua Resources Corp

June 16, 2022June 16, 2022 admin

Mining company Barrick Gold Corporation (“Barrick”) announced on June 15, 2022, the sale of 5,382,587 common shares (“Shares”) of Perpetua Resources Corp. (“Perpetua Resources”) through Nasdaq, Cboe, Direct Edge and NYSE-ARCA (the “Provision”). According to the source, the disposition generated gross cash proceeds of an aggregate amount of C$21,729,504 (C$4.04 per common share). It should be noted that immediately prior to the disposition, Barrick beneficially owned, or controlled and directed, 5,382,587 shares, representing approximately 8.5% of the issued and outstanding shares. Following the disposition, Barrick no longer beneficially owns, controls or… Read More Here

Cobalt International

The erosion of cobalt prices continues, the ton is trading at 72,000.00 USD as of June 15, 2022

June 15, 2022June 15, 2022 admin

The drop in cobalt prices that began in May 2022 continues until mid-June of the year on the international metals market. According to the indications of the London Metal Exchange, the ton of cobalt is trading at 72,000.00 USD as of June 15, 2022. According to industry experts, the fall in cobalt prices is the indirect consequence of the confinements in China. As of June 10, standard-grade cobalt prices, like alloy-grade cobalt prices, ranged between USD 35.80 and USD 36.50 per kilogram. Since surging around USD 40 per kilogram in… Read More Here

Copper International

copper falls to 9,262.60 per tonne as of June 15, 2022

June 15, 2022June 15, 2022 admin

The outlook for copper prices on the international market is still not favorable despite the lifting of the barrier measures against the coronavirus in China and this situation is expected to continue in 2023 and 2024. As of June 15, 2022, a tonne of copper is sold at USD 9,262.60 on the international market, particularly on the London Stock Exchange. And this, while exactly a week ago this metal was sold at 9,711.85 USD on the London Metal Exchange (LME). Copper is beset by various risks that threaten to undermine the… Read More Here

Copper International

Copper Outlook Threatened by Various Economic Risks: Experts

June 14, 2022June 14, 2022 admin

Copper is beset by various risks that threaten to undermine the prospects of the key metal needed to wean the world off fossil fuels, according to CRU Group’s Vanessa Davidson. Threats include “the possibility of a decline in GDP or industrial production triggered by geopolitical risks, high inflation becoming more entrenched in the economy, or the effects of Covid-19 lasting longer than expected,” it said. CRU’s director of copper research and strategy said Monday at a mining conference in Toronto. Other near-term risks include slower-than-expected adoption of green technologies, greater availability… Read More Here

Copper International

Copper price slips as China demand woes resurface

June 14, 2022June 14, 2022 admin

The copper price fell on Monday, as a stronger US dollar and renewed worries over demand due to partial lockdowns in China weighed on sentiment. Copper for delivery in July fell 2.7% from Friday’s settlement, touching $4.17 per pound ($9,188 per tonne) Monday morning on the Comex market in New York. The most-traded July copper contract in Shanghai fell 0.5% at 72,490 yuan ($10,831.53) a tonne. Beijing raced to contain a “ferocious” outbreak, with millions facing mandatory testing and thousands under targeted lockdowns, after the capital city recently relaxed curbs.… Read More Here

Gold International

Gold’s haven appeal burnished by drumbeat of growth warnings

June 10, 2022June 10, 2022 admin

Gold could be heading for another rally, with warnings over a global economic slowdown paving the way for a fresh push toward $2 000/oz. A potent mix of decades-high inflation, geopolitical turmoil and growing talk of recession should be bullish for the traditional haven, according to speakers interviewed ahead of a precious metals conference in Singapore this week. Bullion is down about 10% from a peak in mid-March, after the concerns that Russia’s invasion of Ukraine might sprawl into a broader conflict dissipated. But with top banking executives now warning… Read More Here

Copper International

Copper price slips after new China lockdowns

June 10, 2022June 10, 2022 admin

The copper price slipped on Thursday after parts of Shanghai began imposing new covid lockdown restrictions. Entertainment venues and internet cafes in Beijing’s largest district of Chaoyang, home to more than 3 million people, were ordered to be shut on Thursday after an outbreak involving bars was detected. Copper for delivery in July fell 1.8% from Wednesday’s settlement, touching $4.374 per pound ($9,623 per tonne) at lunchtime Thursday on the Comex market in New York. Offering some relief, data on Thursday showed China’s exports grew at a double-digit pace in… Read More Here

Gold International

Gold price may be set to rise – but so are risks for miners

June 9, 2022June 9, 2022 admin

Amid the frenzied analyses of supply, demand and spiking prices for green metals and critical minerals, another metal may be preparing to steal the spotlight: gold. While the price of gold spiked earlier this year to $2,068 per oz. (just shy of its August 2020 all-time high) on Russia’s invasion of Ukraine, it hasn’t stayed at those elevated levels. At press time Wednesday, the yellow metal was at a relatively modest $1,850 per oz., just a touch above where it began the year at $1,827.50 per oz. However, persistent inflation,… Read More Here