International - Copperbelt Katanga Mining

Billionaire Friedland secures rail deal to tap Guinea iron ore

March 31, 2022March 31, 2022 admin

A mining company controlled by billionaire Robert Friedland has secured access to a Liberian railway that opens the way for it to tap vast iron ore reserves in neighboring Guinea.The deal with the Liberian government provides High Power Exploration Inc. with an outlet for its Nimba concession, which holds an estimated 1 billion tons of high-grade iron ore. The miner expects to start work by 2024 on a rail link that will connect with a line running to Liberia’s Buchanan port. “The rail is critical for us to be able… Read More Here

Copper International

Copper price down on China demand concerns

March 31, 2022March 31, 2022 admin

Copper prices dipped on Thursday hit by concerns over demand in China, which is grappling with the worst resurgence of covid-19 cases since early 2020. Copper for delivery in May fell 0.4% from Wednesday’s settlement price, touching $4.732 per pound ($10,410 per tonne). The most-traded May copper contract on the Shanghai Futures Exchange was down 0.4% at 73,360 yuan ($11,552.57) a tonne. China’s factory activity contracted in March as the economy faced renewed downward pressures from stringent covid-19 controls. The country’s pledges to shore up its embattled property sector have done little to… Read More Here

Gold International

Gold price up on doubts over Ukraine ceasefire

March 31, 2022March 31, 2022 admin

Gold prices rebounded on Wednesday amid doubts over the possibility of a ceasefire between Russia and Ukraine. A retreat in dollar also helped to bolster the precious metal’s appeal. Spot gold rose 0.7% to $1,933.31 per ounce by 12:40 p.m. ET, returning to levels seen earlier in the week. US gold futures gained 1.0% to trade at $1,937.80 per ounce. Meanwhile, the US dollar fell 0.5% to nearly a two-week low, making gold less expensive for other currency holders. “Also helping gold is this Russian situation, which seemed to be… Read More Here

Mining technology Equipment & Technology International

Metso Outotec launches digital twin

March 30, 2022March 30, 2022 admin

Metso Outotec has launched Geminex, a digital twin which manages variability in mining and metallurgical operations. Geminex simulates and optimises operations in mineral processes by coming operational data from both internal and external data sources. The technology can also be used by pyro- and hydrometallurgical processes, Metso said. The Geminex technology uses HSC process models, which have already been implemented in hundreds of minerals flowsheet development processes, Metso Outotec said. Metso Outotec said the technology minimises carbon footprint, maximises efficient use of resources, simulates the process without environmental or financial… Read More Here

Copper International

World: copper demand will increase from 24 million tonnes in 2020 to 33 million tonnes in 2040

March 29, 2022March 29, 2022 admin

Global copper demand is expected to increase from 24 million tonnes in 2020 to 33 million tonnes in 2040, informs the International Energy Agency quoted in a report published by the NGO Natural Resource Governance Institute (NRGI). Despite the increase in the market value of cobalt, this report notes that currently, both globally and in the Democratic Republic of Congo, the value of copper produced each year far exceeds the value of cobalt. The price of cobalt has increased significantly: in July 2021, its price was twice as high as… Read More Here

Gold International

Gold price falls 1% as higher dollar, yields curtail safe haven demand

March 29, 2022March 29, 2022 admin

Gold prices slumped on Monday as both the US dollar and Treasury yields strengthened, sapping demand for the safe haven asset after last week’s gain. Spot gold fell 1.1% to $1,935.48 an ounce by 11:45 a.m. ET, erasing most of its gains from the last two sessions. US gold futures were down 1.0% to $1,935.00 per ounce in New York. Meanwhile, both the dollar index and US bond yields rose, driven by expectations that the US Federal Reserve will lead an aggressive wave of global central bank tightening. The 10-year Treasury… Read More Here

Iron Ore International

Iron ore price up to $150.75 per tonne

March 28, 2022March 28, 2022 admin

The price of iron ore jumped nearly 4% on Friday as Chinese factories grapple with supply shortages due to covid-related disruptions. Benchmark 62% Fe fines imported into North China changed hands for $150.75 a tonne during morning trading, according to Fastmarkets MB, up 3.5% from Thursday’s close. . The most traded iron ore futures on the Dalian Commodity Exchange, for delivery in May, rose 3.9% to 858 yuan ($134.82) a ton. They ended at 856 yuan a ton, sending weekly gains to 2.7%. Producers in the main steel city of Tangshan… Read More Here

Gold International

Gold mining firms should cooperate more with artisanal miners, WGC says

March 25, 2022March 25, 2022 admin

The World Gold Council (WGC) called for greater cooperation between large mining companies and artisanal miners and set out recommendations on Thursday to help bring small-scale miners into the market. Mainstream miners and refiners have typically avoided dealing with artisanal miners who use basic equipment, often work outside legal frameworks and can employ children and toxic materials such as mercury. But artisanal mining provides a livelihood to millions of people in Africa, South America and elsewhere, and pressure has grown from governments and non-governmental organisations for more to be done to bring them into… Read More Here

Equipment & Technology International Mining technology

Metso Outotec launches LowNOx burner for travelling grate pelletizing plants

March 25, 2022March 25, 2022 admin

Metso Outotec is launching the Ferroflame LowNOx (nitrogen oxides) burner for travelling grate pelletizing plants to enable pellet plant operators to achieve the stringent NOx emission targets with ease. The new burner is part of the company ‘s planet positive offering focused on environmentally efficient technologies. The Ferroflame LowNOx burner uses high-speed dilution, which is an effective way to improve the combustion process and reduce NOx emissions. It works seamlessly with natural gas, and tests demonstrate that can also be used with diesel and coke oven gas. “We are very excited about the Ferroflame LowNOx… Read More Here

Gold International

Gold price extends gains amid talks of further energy sanctions on Russia

March 25, 2022March 25, 2022 admin

Gold extended gains on Thursday as risk sentiment continues to pile up over the military crisis in Ukraine, with the US and its allies entering discussions on possible further energy sanctions against Russia. Spot gold rose 0.9% to $1,963.48 per ounce by 12:15 p.m. ET, near its highest in two weeks. US gold futures jumped 1.3% to $1,963.50 per ounce in New York. In response to Russia’s continued invasion of Ukraine, the US is currently working with NATO allies on more measures to prepare for the possibility of Russia deploying… Read More Here