International - Copperbelt Katanga Mining

Goldman Sachs sees new all-time high for copper price by mid-year

April 8, 2022April 8, 2022 admin

After a brief but glorious spike above $5 a pound, or $11,000 a ton a month ago, copper prices have retreated, with New York futures trading either side of the bar of 4.70 dollars per pound (10,362 dollars per ton). The intraday record set on March 7 came on the heels of historically low global inventories of the flagship metal and in a research report on Thursday, Goldman Sachs said copper was “sleepwalking towards a stock-out”. This isn’t the first such warning from Goldman, which is the most bullish investment… Read More Here

Cat launches greener generator

April 8, 2022April 8, 2022 admin

US equipment maker Caterpillar has launched a new mobile generator set called the 310 kVA Cat XQP310 that meets the EU’s Stage V’s emission standards for engines used in non-road mobile machinery. The mobile unit can run on renewable diesel fuel, has 12% more power than its predecessor, and can be used for 50 and 60 Hz applications across a range of voltages, said the company. “As construction and mining activities rebound worldwide, the Cat XQP310 demonstrates how we are expanding our portfolio of mobile power solutions to deliver the… Read More Here

Gold International

Gold price seesaws ahead of Fed meeting minutes release

April 7, 2022April 7, 2022 admin

Gold prices seesawed in a narrow range on Wednesday with concerns over high inflation amid mounting sanctions on Russia buoying prices, though its gains are countered by expectations of an aggressive interest rate hike by the US Federal Reserve. Spot gold lowered by 0.1% to $1,920.87 per ounce by 1:50 p.m. ET. US gold futures were down the same percentage point, trading at $1,925.20 an ounce. “Inflation fears and the inflation data we’ve been seeing is what’s keeping gold up,” said RJO Futures senior market strategist Bob Haberkorn, in a… Read More Here

Equipment & Technology International

Sandvik introduces short-term rental service in USA

April 6, 2022April 6, 2022 admin

Sandvik Mining and Rock Solutions has announced it is entering the US market with a structured rental offering that, it says, meets the needs of customers that are looking for short term, off-balance sheet solutions to fill production gaps or expand their operations, but at minimal risk. Building on the success and learnings of its short-term rental service in Europe, Sandvik’s new US offering sees machines rented from as little as just one month. Working in partnership with its dealer network – who tend to favour longer-term rentals – Sandvik is… Read More Here

Copper International

Copper price up despite China demand concerns

April 5, 2022April 5, 2022 admin

The copper price rose on Monday despite lingering demand concerns in top consumer China. Copper for delivery in May rose 2.3% from Friday’s settlement price, touching $4.790 per pound ($10,538 per tonne). Trading was sluggish as Chinese financial markets were closed for a public holiday, but traders kept a wary eye on the country’s covid-19 lockdowns and their impact on economic output and overall demand. “The lockdown in China “has already led to a slowdown in the domestic movement of base metals, (and) as a result, production cuts at metal… Read More Here

International Gold

Gold price advances on rising Russia-Ukraine tensions

April 5, 2022April 5, 2022 admin

Gold rose on Monday as the prospect of further sanctions on Russia over its invasion of Ukraine bolstered the metal’s safe-haven appeal, though a stronger dollar and rising US bond yields capped bullion’s gains. Spot gold was up 1.2% to $1,933.33 per ounce by 12:15 p.m. ET, while US gold futures advanced 0.7% to $1,936.90 in New York. Global outrage spread on Monday over the killings of civilians in northern Ukraine and looked set to galvanize the West into leveling additional sanctions against Moscow, which could possibly include Russia’s energy… Read More Here

Copper International

Copper industry needs USD 100 million investment to meet global demand

April 4, 2022 admin

The global copper industry needs to spend more than $100 billion to build mines capable of closing what could be an annual supply shortfall of 4.7 million tonnes by 2030, Erik Heimlich said this week. Head of Base Metals Sourcing at CRU. Speaking at the CRU 2022 World Copper Conference held in Santiago, Chile, the analyst said the supply shortfall for the next decade is estimated at six million tonnes per year, while as the clean energy and electric vehicle sectors grow. This means the world would need to build… Read More Here

Copper International

Copper prices slip on China’s gloomy factory activity data

April 1, 2022April 1, 2022 admin

Copper prices dropped on Friday as demand worries rose after data showed factory activity in top metals consumer China slumped last month at the fastest pace in two years, with a firm US dollar also weighing on sentiment. Other base metals also fell as investors were cautious ahead of a key US jobs report later in the day that could cement the potential for a 50 basis-point Federal Reserve interest rate hike next month. Three-month copper on the London Metal Exchange was down 1.2% at $10 256/t, as of 07:07 GMT, after… Read More Here

Equipment & Technology International Mining technology

Sandvik gets low with Toro LH208L

April 1, 2022April 1, 2022 admin

Swedish equipment maker Sandvik plans to target South Africa with its upgraded Toro LH208L low-profile loader. Sandvik said the LH208L has an equipment height of just 1.6 meters but high payload capacity of 7.7 tonnes, enabling it to operate efficiently in conditions where working height is extremely limited. The loader features integrated weighing system IWS, which measures the payload when lifting the boom, as well as the number of buckets filled during a shift and traction control, and traction control. The loader is equipped with a robust Deutz 140 kW Stage… Read More Here

Equipment & Technology International Mining technology

Metso Outotec wins India pellet plant order

April 1, 2022April 1, 2022 admin

Finnish mining equipment maker Metso Outotec has secured another order in India for an iron ore grate kiln pellet plant, this time for a plant operated by Jindal Steel Odisha in the east of the country. Metso Outotec said the plant is located in the industrial city of Angul, in eastern India. The value of the order is €30 million (US$33 million), and it has been booked in Metals’ Q1/2022 orders received. Metso Outotec’s scope of delivery consists of engineering and the supply of major equipment, including the traveling grate,… Read More Here