International - Copperbelt Katanga Mining

Sandvik to acquire mining part of Schenck Process Group

May 9, 2022May 9, 2022 admin

Sandvik has signed an agreement to acquire the mining related business of Schenck Process Group (SP Mining). SP Mining is one of the market leaders in screening, feeding and screening media solutions in the industry. The company will be reported in Stationary Crushing and Screening, a division in Sandvik Rock Processing Solutions (SRP). “I am pleased that we continue to execute on our shift to growth strategy by expanding our core offering in a profitable niche, as well as strengthening the aftermarket share within rock processing. This validates our strategy… Read More Here

Copper International

Copper price slips as US dollar hits 20-year high

May 7, 2022May 7, 2022 admin

The copper price fell on Friday as the US dollar rose to a 20-year high and as global equities tumbled on worries over a higher interest rate environment hurting global growth. Copper for delivery in July fell 0.5% from Thursday’s settlement price, touching $4.26 per pound ($9,391 per tonne) midday Friday on the Comex market in New York. The most-active June copper contract on the Shanghai Futures Exchange fell 1.3% to 72,100 yuan ($10,783.89). The Federal Reserve on Wednesday raised its benchmark overnight interest rate by half a percentage point,… Read More Here

Equipment & Technology International Mining technology

Anglo American puts world’s largest hydrogen truck to work

May 6, 2022May 6, 2022 admin

Anglo American (LON: AAL) unveiled on Friday its first self-developed green-hydrogen powered truck at the Mogalakwena platinum mine South Africa, where it will eventually replace a fleet of 40 vehicles consuming each nearly a million liters of diesel a year. The 2,000-kilowat hydrogen-battery hybrid haul truck, which is currently the world’s largest hydrogen-powered vehicle of its kind in operation, can carry a 290-tonne payload. The trucks, part of the company’s nuGen zero emissions haulage initiative, use power from a 140-megawatt solar plant that powers the hydrogen-producing mechanism. The project, expected to be… Read More Here

Mining Personality International

First Quantum Minerals Announces Tristan Pascall as New CEO

May 6, 2022May 6, 2022 admin

First Quantum Minerals Ltd. (“First Quantum” or “the Company”) (TSX: FM) today announced that the Board of Directors has appointed Tristan Pascall to the role of Chief Executive Officer (CEO). The appointment came into effect at the Annual General Meeting (AGM) held today on May 5, 2022. Tristan will also be joining the Board of Directors. First Quantum is also pleased to announce the appointment of Alison Beckett as an independent director on the Board of Directors. Alison has a career spanning industry and consulting, including procurement and strategy consulting.… Read More Here

Gold International

Gold price pulls back after rate hike bounce

May 6, 2022May 6, 2022 admin

Gold prices pulled back on Thursday after rising as much as 1% following the half-a-point interest rate hike announced by the US Federal Reserve, the biggest in 22 years. Spot gold slipped 0.2% to $1,876.52 per ounce by 12:30 p.m. ET, having earlier hit its highest since April 29. US gold futures gained a modest 0.3% to $1,875.00 per ounce in New York. “I don’t think a whole lot changed in overall Fed policy from yesterday’s meeting, but it just gave gold and silver traders an excuse to rally the… Read More Here

Green Energy International Mining Companies

Glencore rights record worst in green metals, group says

May 5, 2022May 5, 2022 admin

Glencore Plc has the worst human rights record among miners of metals used in renewable energy, the Business & Human Rights Resource Centre said in a report. The alleged abuses attributed to all companies range from attacks on activists to violations of environmental laws to forced relocations. Complaints about Glencore’s mines accounted for 64 out of the 495 allegations tracked by the London-based group between 2010 and 2021. “Globally, Glencore has the worst record,” the group said in its transition minerals tracker released on Wednesday. “It was the company linked to the… Read More Here

Battery Metals International Lithium

Good times are ahead for lithium miners as prices continue to surge

May 5, 2022May 5, 2022 admin

Good times are ahead for producers of lithium, the battery material that’s key to the electrification of transportation. Albemarle Corp., the world’s No. 1 miner of the silvery, white metal, boosted profit forecasts for the year as lithium prices soar due to demand from electric vehicles. The third biggest miner, Livent Corp., did the same. The popularity of electric vehicles has driven prices for battery metals sharply higher, even sparking fears of shortages of materials like lithium, cobalt and nickel. Lithium supplies are a concern in particular because there’s no… Read More Here

Cobalt International

The demand for Cobalt could increase by 143 to 370% between 2020 and 2040

May 5, 2022May 5, 2022 admin1 Comment

Linked to a very important economic industry, in particular that of electric cars, cobalt stands out as an essential mineral in the world economy. According to industry experts, the demand for cobalt could increase by 143 to 370% between 2020 and 2040 depending on the pace of the global energy transition. In terms of comparison, between 2000 and 2020, cobalt production increased by 320%, while copper production increased by 1,415%. Manufacturers of electric vehicle (EV) batteries (a market that has grown from virtually nothing in 2010 to producing 2.3 million… Read More Here

Gold International

Barrick Gold Q1 profit beat estimates, doubles dividend

May 4, 2022May 4, 2022 admin

Miner Barrick Gold doubled its quarterly dividend on Wednesday after reporting first-quarter profit above Wall Street expectations, on the back of higher gold and copper prices. Gold, traditionally seen as a safe haven to invest in during times of financial uncertainty, rose above $2 000/oz in early March after Russia invaded Ukraine. It has since retreated to around $1 850/oz. The miner’s realized gold price in the quarter rose 5.6% to $1 876/oz from a year earlier, while copper saw a near 14% increase to $4.68./lb. However, the company’s gold production in… Read More Here

International Oil & Gas

Oil drops as China lockdowns overshadow Russian output risk

May 4, 2022May 4, 2022 admin

Oil fell as lockdowns across China countered looming European Union measures to limit purchases of Russian fuel. West Texas Intermediate settled near $102 on Tuesday after a session marked by low liquidity. Crude has swung within a $15 band in the last three weeks as the market weighs the hit to demand from China’s covid wave against supply concerns stemming from bans on Russian crude. Investors are also bracing for the biggest US rate hike since 2000, which could slow demand. “Crude is trading sideways as we await further details from the… Read More Here