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Category: International

De Beers reassures market its diamonds do not come from Russia 1 Diamond International 

De Beers reassures market its diamonds do not come from Russia

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Diamond major De Beers is encouraging retailers to “buy with confidence” by engaging with their suppliers to understand the origin of their diamonds, following an executive order by US President Joe Biden banning the importation of Russia-sourced diamonds into the US. Biden made the move as part of a broad package of sanctions against Russia, its State entities and political backers as a result of Russian President Vladimir Putin’s decision to invade Ukraine in February. Many nations have implemented a myriad of sanctions on Russian commodities and products, including oil and gas. According to business data platform Statista, Russia had… Read More Here
Shanta Gold’s West Kenya project receives its first mineral resource estimate 2 Gold International 

Shanta Gold’s West Kenya project receives its first mineral resource estimate

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Aim-listed The Ramula target at Shanta Gold’s West Kenya project  has received its first mineral resource estimate (MRE). This comes after a successful drilling campaign in 2021, with more updates on other targets – Isulu-Bushiangala and Bumbo – expected in the coming months. The Ramula target adds 434 400 ounces of inferred resources to West Kenya’s total resource, bringing it to 1.6 million ounces, up 36% from the previous MRE. The West Kenya project continues to produce exciting results, according to CEO Eric Zurrin, and the targets reaffirm the project’s… Read More Here
Liebherr exploring low emission engines 3 Equipment & Technology International Mining technology 

Liebherr exploring low emission engines

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German-Swiss multinational equipment manufacturer Liebherr is working with US-based engine software firm Tula Technology on the development of optimisation technologies that can reduce heavy machinery emissions. The companies have developed a joint study which showed Tula’s diesel Dynamic Skip Fire (dDSF) software can generate reductions of NOX tailpipe emissions by 41% and carbon dioxide (CO2) by 9.5%. The study used Liebherr’s D966, a compact 13.5L 6-cylinder diesel engine. In the next step, Liebherr will consider the integration of the dDSF software into other engines in its portfolio. DDSF uses patented… Read More Here
Metso Outotec wins India pelletising order 4 Equipment & Technology International Mining technology 

Metso Outotec wins India pelletising order

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Metso Outotec will deliver and deploy its travelling grate pelletising technology to be integrated with a 432 m2 indurating machine located in RPCL’s 3.2 mtpy pellet facility in Sandur, Karnataka. The technology will be used in the near-term to improve the iron content of the ore, maximizing the potential of the existing resources – a long-term goal is to increase the resource base. Traveling grate pelletizing plant is an induration technology for iron ore pellet production for a wide range of plant capacities. Traveling grate sinter plant reduces off-gas volumes and the… Read More Here
Copper price falls on demand concerns in China 5 Copper International 

Copper price falls on demand concerns in China

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Prices of industrial metals fell on Monday as diplomatic efforts to resolve the Russia-Ukraine conflict calmed supply-disruption fears, while demand concerns in top consumer China also weighed on the market. Copper for delivery in May fell on the Comex market in New York to $4.5405 per pound ($9,989 per tonne), down 1.8% compared to Friday’s closing. “Copper market sentiment is bearish as supplies are starting to ramp up. It shows some rational thinking,” said Dan Smith, managing director at Commodity Market Analytics. Ukraine will seek to discuss a ceasefire, immediate… Read More Here
Gold dealers swamped by demand as war creates inflation scare 6 Gold International 

Gold dealers swamped by demand as war creates inflation scare

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Gold is playing its age-old role as a safe haven in times of wars and crises, and people all over the world are piling in. Russia’s invasion of Ukraine has sent the price of everything from oil and gas to wheat and metals skyrocketing, sparking inflation fears and threatening global growth. That’s driving retail investors everywhere from Vienna and Singapore to New York to the safety of gold, which spiked to $2,070.44 an ounce, close to the record reached during the pandemic. The almost 10% surge in gold prices since… Read More Here
Caterpillar suspends Russian manufacturing 7 Equipment & Technology International 

Caterpillar suspends Russian manufacturing

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Equipment company Caterpillar has suspended manufacturing at its Russian facilities in the wake of Russia’s invasion of Ukraine two weeks ago. “Operations in Russia have become recently challenging,” the company said in a March 9 statement. Caterpillar has experienced difficulties due to supply challenges and sanctions imposed by Western nations in protest of the invasion. Caterpillar’s manufacturing site was established in Tosno, near Saint Petersburg, in March 2020. The factory manufactures two models of off-the-road mining trucks, two models of excavators, and components for equipment and machines. Caterpillar also has… Read More Here
GOLD SURGES $75 & SILVER $1.70: Price Of Gold Hits New All-Time High! But Look At The Other Insane Market Action! 8 International 

GOLD SURGES $75 & SILVER $1.70: Price Of Gold Hits New All-Time High! But Look At The Other Insane Market Action!

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This is how absurd stocks’ valuations are today: US market cap to GDP needs to fall another 15% just to reach the peak of the Tech Bubble levels. US Market Cap To GDP Needs To Fall Another 15%Just To Reach Peak Of Tech Bubble Level! Just Getting StartedOtavio Costa:  The great unwind is just getting started. Out of tech and into natural resources. THE GREAT UNWIND:Out Of Tech Into Natural Resources Massive Gold & Silver Volume…Yes, AgainGraddhy out of Sweden:  Once again the volume for spot Gold is absolutely massive very early… Read More Here
Gold price rebounds on ceasefire setback – Goldman targets $2,500 9 Gold International 

Gold price rebounds on ceasefire setback – Goldman targets $2,500

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Gold rebounded and rose above $2,000 once again on Thursday after talks between Ukraine and Russia failed to make any progress in halting what is considered the biggest European military crisis since World War II. Spot gold advanced 0.5% to $2,000.69 per ounce by 12:30 p.m. ET, maintaining its highest level since August 2020. Three-month US gold futures were 0.7% higher, trading at $2,003.10 per ounce on the Comex. Bullion had earlier extended its biggest decline in 14 months on hopes that talks between the countries’ foreign ministers could lead to a diplomatic solution.… Read More Here
Russian gold hit with de facto ban from key London market 10 Gold International 

Russian gold hit with de facto ban from key London market

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London’s gold market suspended all Russian refineries from its accredited list, meaning their newly minted bars can no longer trade in one of the world’s most important bullion centers. The London Bullion Market Association suspended all six Russian gold and silver refineries from its Good Delivery List following sanctions imposed by the U.S., European Union and U.K. on the country, the LBMA said Monday. Existing bars produced by the refiners before their suspension will still be accepted.  The decision amounts to a de facto ban on new Russian gold bars… Read More Here

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