International - Copperbelt Katanga Mining

Caterpillar eyes energy transition as growth driver for mining business

May 18, 2022May 18, 2022 admin

Construction equipment maker Caterpillar Inc believes demand for critical minerals as the clean energy transition gathers pace will translate to solid returns for its mining business, CEO Jim Umpleby said in an interview on Tuesday. The company is aiming at a global market worth about $5 trillion for energy transition infrastructure between 2021 and 2040, Umpleby said. “Mining capital expenditures have been relatively subdued over the last few years and we believe that will increase,” he told Reuters after the company’s investor day meetings. Executives reaffirmed the heavy machinery giant’s machinery, energy and transportation services… Read More Here

International Equipment & Technology Mining technology

Epiroc to relocate operations from Japan to China

May 18, 2022May 18, 2022 admin1 Comment

Epiroc, a leading productivity and sustainability partner for the mining and infrastructure industries, will relocate the production and development of drill rigs for surface construction from Japan to its facility in Nanjing, China. The production facility in Yokohama, Japan, has been sold and will be closed. Epiroc’s customer center will be relocated in the Yokohama area to keep supporting customers in Japan with product and application know-how as well as to provide overhauls, rebuilds, and upgrades of their existing fleets. In Nanjing, the manufacturing will benefit from larger-scale production, sourcing,… Read More Here

Battery Metals International Lithium

Battery boom pulls trading giant Trafigura into lithium business

May 17, 2022May 17, 2022 admin1 Comment

Trafigura Group said its plan to invest in a new UK lithium refinery will mark the start of the trading giant’s foray into buying and selling the crucial battery metal. Last week’s agreement to back the plant being developed by startup Green Lithium brings the world’s top independent commodities trader into a market struggling to create enough new supply to meet demand for electric vehicles. The deal is part of Trafigura’s plan to grow a lithium trading book and link global car and battery companies to mines, its nickel and… Read More Here

Mining in DRC International

Botswana sees Russian diamond ban opening door to synthetic gems

May 16, 2022May 16, 2022 admin

Botswana, Africa’s top diamond producer, sees a prolonged ban on Russian diamonds opening the way for synthetic gems to expand market share, the country’s minister told a mining conference on Monday. The United States, the world largest market for natural diamonds, imposed sanctions on Russia’s state-controlled Alrosa in April, aiming to cut off a source of revenue for Moscow after its February invasion of Ukraine. Alrosa, the world’s largest producer of rough diamonds, accounted for about 30% of global output in 2021. Botswana’s Minister of Minerals and Energy Lefoko Moagi said the… Read More Here

Mining technology International

Sandvik highlights parts supply and management options as it continues predictive maintenance focus

May 16, 2022May 16, 2022 admin

Sandvik Mining & Rock Solutions is offering various parts supply and management options to suit customers’ needs and help facilitate its own corporate focus on predictive maintenance through the flow of real-time data on its equipment. Among the options, according to Amith Ganasram, Business Line Manager – Parts, Commercial, at Sandvik Mining & Rock Solutions, is Vendor Managed Inventory. “To streamline the availability of spare parts, our people can be on site with an inventory of stock that we manage,” Ganasram says. “The main advantage here is that this makes… Read More Here

Equipment & Technology International Mining technology

BME’s first BIT120 battery-electric retrofit heads for WA Goldfields

May 16, 2022May 16, 2022 admin

New South Wales-based Batt Mobile Equipment (BME) has announced the release of its first BIT120, a 20 t Integrated Tool Carrier battery-electric retrofit system. The first machine is being sent to Gold Fields’ St Ives mining operation in Western Australia on a 12-month hire agreement. The company is also in the middle of another two BIT120 builds for Barminco Holdings Pty Ltd, the Perenti-owned underground contract mining company. The BIT120 leverages the learnings from the TRITEV project, which was part of an initiative developed under Project EVmine, with the help… Read More Here

Gold International

Gold prices buckle under pressure from ‘King Dollar’, higher yields

May 16, 2022May 16, 2022 admin

Gold prices fell more than 1% to their lowest in 3-1/2 months on Monday as elevated bond yields and a firmer U.S. dollar dampened bullion demand, even as riskier assets dropped after grim China economic data. A stronger dollar makes gold expensive for overseas buyers, while higher Treasury yields raise the opportunity cost of holding zero-yield bullion. Spot gold was down 0.4% to $1,804.01 per ounce as of 1124 GMT, after hitting its lowest since Jan. 31 at $1,786.60 earlier in the session. U.S. gold futures fell 0.3% to $1,802.20.… Read More Here

Battery Metals International

Electric cars to account for over 80% of battery demand in next 20 years despite current challenges – report

May 16, 2022May 16, 2022 admin

Electric cars are expected to account for 79% of the EV market revenues and 83% of battery demand in the next two decades despite some current challenges, a new report by IDTechEx shows. According to the research firm, the reason for cars to continue to lead the EV sectors is that they have long been the focus of government policy for their popularity and the need to reduce road emissions. At present, electric cars are the largest market among EVs, with sales more than doubling in 2021 to over 6.4 million. But… Read More Here

Copper International

Copper wavers near $9 000 after fear-filled week for metals

May 13, 2022May 13, 2022 admin

Copper steadied and aluminum rose after a turbulent week for metals dominated by growing concerns over the state of the global economy. While metals markets were calmer Friday, prices have endured a dismal few days on fears about monetary tightening as well as demand from top consumer China. Copper — often seen as an economic bellwether — is heading for its sixth weekly decline in London. Federal Reserve Chair Jeromy Powell on Thursday pushed back against speculation of more aggressive interest-rate hikes. But weaker global growth remains a key worry… Read More Here

Gold International

Gold price retreats as dollar rally dims precious metals appeal

May 13, 2022May 13, 2022 admin

Gold, along with other precious metals, retreated on Thursday as investors’ attention turned to the accelerating dollar, driven by bets that the US Federal Reserve will stick to aggressive rate hikes. Spot gold fell 1.0% to $1,834.30 per ounce by noon EDT, erasing its gains from the previous session. US gold futures were also down 1.0% to $1,833.90 per ounce in New York. Chipping away gold’s value was the US dollar, which climbed to fresh 20-year highs Thursday, reducing the safe-haven metal’s appeal for other currency holders. “Dollar is rallying… Read More Here