International - Copperbelt Katanga Mining

Gold price moves higher after US inflation report

May 12, 2022May 12, 2022 admin

Gold climbed higher on Wednesday after hotter-than-expected US inflation fueled expectations that the Federal Reserve will maintain a path of aggressive interest-rate hikes. Spot gold gained 0.8% to $1,853.84 per ounce by 12:20 p.m. ET, but is still tracking lower on a weekly basis. US gold futures were 0.6% higher at $1,851.60 per ounce. According to Labor Department data released Wednesday, the core consumer price index, which excludes food and energy, increased 0.6% from a month earlier and 6.2% from April 2021, exceeding the median forecasts of economists. The broader CPI rose… Read More Here

Copper International

Copper tumbles to 7-month low as slowdown fears rock markets

May 12, 2022May 12, 2022 admin

Copper prices tumbled on Thursday to their lowest in seven months and other industrial metals fell as traders worried that a slowing global economy would require less metal. With inflation surging and interest rates rising, growth fears also pushed down oil prices and stock markets hit a one-and-a-half-year low. The dollar, meanwhile, reached a new 20-year high against a basket of major rivals, making dollar-priced metals costlier for buyers with other currencies. Benchmark copper on the London Metal Exchange (LME) was down 3.5% at $9 017/t at 11:02 GMT and down 17%… Read More Here

Equipment & Technology International

Sandvik showcasing electric concept rig for surface drilling at Vei og Anlegg 2022 in Norway

May 12, 2022May 12, 2022 admin

Sandvik Mining and Rock Solutions is bringing a groundbreaking electric concept drill rig for surface drilling to the Vei og Anlegg 2022 exhibition, one of Scandinavia’s largest construction trade shows, May 11–14 2022. The new concept rig demonstrates some of the advanced technologies that will be introduced on future series drill rigs to support more sustainable and energy-efficient surface drilling, particularly in urban construction applications. The concept drill rig is essentially a versatile R&D platform for demonstrating the most advanced, but nevertheless proven and validated, sustainability technologies that are already… Read More Here

Copper International

Copper price recovers as China covid cases ease

May 12, 2022May 12, 2022 admin

Copper price rebounded on Wednesday as slowing covid-19 infections in top metals consumer China eased near-term demand concerns, even as enduring pandemic-related lockdowns weighed on sentiment. Copper for delivery in July rose 2.3% from Tuesday’s settlement price, touching $4.25 per pound ($9,350 per tonne) midday Wednesday on the Comex market in New York. The most-active June copper contract on the Shanghai Futures Exchange was up 0.3% at 71,641 yuan ($10,666.42). Shanghai said half the city had achieved “zero-COVID” status, but uncompromising restrictions had to remain in place under a national… Read More Here

International

Mining giants back eight winning ideas in global Charge On Innovation Challenge to decarbonise mining

May 12, 2022May 12, 2022 admin1 Comment

In the global quest to significantly decarbonise mining operations, eight technology innovators’ submissions have been selected to progress beyond the Charge On Innovation Challenge. The global challenge, launched by BHP, Rio Tinto and Vale sought to accelerate commercialisation of effective solutions for charging large electric haul trucks while simultaneously demonstrating there is an emerging market for these solutions in mining. The eight innovators selected are ABB, Ampcontrol and Tritium (Australia), BluVeinXL, DB Engineering & Consulting with Echion Technologies, Hitachi, Shell Consortium, Siemens Off-board power supply, and 3ME Technology. The Charge… Read More Here

Copper International

A ton of copper fell to 9,160 USD on Tuesday 11 May against 9,695.85 USD last week

May 11, 2022May 11, 2022 admin

March 2022 has been the most prolific month for the copper market which continues to tumble in the international market. In a downward trend for a few weeks now, the price of copper has fallen again on the international metals market, inform the indicators of London Metal Exchange (LME). On the London Stock Exchange, this product is trading at USD 9,160.00 per ton compared to USD 9,695.85 per ton last week. By comparing these two periods under analysis, it appears that this product recorded a negative price difference of around… Read More Here

International

Elon Musk says Tesla open to buying a mining company

May 11, 2022May 11, 2022 admin

Tesla is open to buying a mining company if producing its own supply of electric vehicle (EV) metals would speed up worldwide adoption of clean energy technologies, Chief Executive Officer Elon Musk said on Tuesday. Concern is mounting across the EV industry that there may not be enough supply of lithium, nickel, copper and other metals to match demand later this decade, fueling questions about whether Tesla would consider jumping into the mining sector. “It’s not out of the question,” Musk told the FT Future of the Car 2022 conference. “We will address whatever limitations are on… Read More Here

Equipment & Technology International Mining technology

Caterpillar enhances electric rope shovels

May 10, 2022May 10, 2022 admin

Caterpillar has added several design enhancements to its 7495 HF Electric Rope Shovel models to increase machine reliability. The upgrades are applied to track or crawler frames, swing rack and rollers, as well as propel gearboxes and rotating undercarriage. The upgrades result in an improvement to the total cost of ownership of up to 6% per operating hour, Caterpillar said. For the track roller frame, Caterpillar reengineered the bolt-on design to eliminate the need for casting weld, increasing wear life and requiring no maintenance. Caterpillar also increased the frame thickness… Read More Here

International Gold

Gold price extends decline as dollar rallies to 20-year high

May 10, 2022May 10, 2022 admin

Gold prices extended losses on Monday as the dollar rallied to two-decade highs while US Treasury yields also advanced, curbing investors’ enthusiasm for the safe haven metal. Coming off a run of three straight weekly losses spot gold declined another 1.0% to $1,863.96 per ounce by 12:25 p.m. ET Monday. US gold futures, too, dropped 1.0% in New York, trading at $1,862.60 per ounce. Bullion has been sliding since mid-April as the Federal Reserve and other central banks tighten policy to fight rising consumer prices. The monetary squeeze has sent… Read More Here

Copper International

Copper price near 8-month low on tightening lockdowns in China

May 10, 2022May 10, 2022 admin

Copper prices fell to their lowest in almost eight months on Monday, as tightening lockdowns in China stoked worries about demand, with a stronger dollar further weighing on the market. Copper for delivery in July fell 2.6% from Friday’s settlement price, touching $4.15 per pound ($9,139 per tonne) midday Monday on the Comex market in New York, the lowest since September 1. The most-active June copper contract on the Shanghai Futures Exchange was down 0.6% at 71,740 yuan ($10,715.62), after dropping to its lowest since March 16. Investors are awaiting… Read More Here