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Metso Outotec ceases deliveries to Russia 1 Equipment & Technology International Mining technology 

Metso Outotec ceases deliveries to Russia

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Finland-based mining and mineral processing technology supplier Metso Outotec will not deliver any equipment to Russia due to the ongoing war in Ukraine and resulting sanctions against business in Russia. In an update, the company said while the mining industry is “currently not directly targeted,” sanctions against the banking sector and individuals, as well as other restrictions, may have an impact on its customers’ Russia-related business. “Due to the current unclear and changing sanction situation, Metso Outotec has temporarily ceased its deliveries to Russia,” the company said. Metso Outotec noted… Read More Here
Sandvik introduces larger, upgraded loader 2 Equipment & Technology International Mining technology 

Sandvik introduces larger, upgraded loader

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Sweden-based mine equipment provider Sandvik has introduced the seven-tonne Toro LH307 loader, which it says offers improved productivity and capacity for underground miners.  The company said the Toro LH307 features many design updates and new options for both hardware and software. It can carry more than the previous Sandvik LH307, which had a capacity of six tonnes. The vehicle also has an integrated weighing system (IWS) and traction control, which measures the payload when lifting the boom and the number of buckets lifted during a shift; the traction control system… Read More Here
World: War in Ukraine,barrel of oil goes from 104 to 113.02 USD in one week on the international market 3 International Energy Oil & Gas 

World: War in Ukraine,barrel of oil goes from 104 to 113.02 USD in one week on the international market

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The consequences of Russian military operations in Ukraine are likely to be disastrous for the global economy. On the sixth day of the war in Ukraine, crude oil prices continued to soar on the international market. The West Texas Intermediate (WTI), also called Texas Light Sweet which is a variation of crude oil serving as a standard in the fixing of the price of crude and as a raw material for oil futures contracts with the Nymex (New York Mercantile Exchange ), the stock market specializing in energy, rose on… Read More Here
Gold price gains as investors weigh impact of Russia sanctions 4 Gold International 

Gold price gains as investors weigh impact of Russia sanctions

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Gold extended gains on Tuesday as investors continue to assess the risks to global growth that may stem from the sanctions against Russia in the wake of its invasion of Ukraine. Spot gold rose 1.0% to $1,927.76 per ounce by 11:30 a.m. ET, recovering from last week’s slight dip and reaching a new  15-Month high. US gold futures were up 1.5% to $1,930.40 per ounce in New York. Treasuries also climbed, and traders are abandoning bets on a half-point rate hike by the Federal Reserve this month amid concerns that an escalation of war… Read More Here
Glencore reviewing stakes in two Russian companies 5 Mining Companies International 

Glencore reviewing stakes in two Russian companies

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Glencore Plc, the world’s biggest commodity trader, followed some of the world’s largest companies in reviewing its business ties with Russia as the fallout from the invasion of Ukraine intensifies across global commodities markets.  While Glencore stopped short of exiting its investments, the company said it was reviewing its shareholdings in two of Russia’s biggest companies as well as its wider trading operations in the country. It’s a dramatic turn for a company that has long been comfortable operating in the most difficult jurisdictions and whose former chief executive officer… Read More Here
Copper price rises on Chile’s lean output 6 Copper International 

Copper price rises on Chile’s lean output

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The copper price rose on Tuesday after Chile, the biggest copper-producing country, recorded its lowest January output since 2011.   Production tumbled 15% last month from December and 7.5% from January 2021, the bureau of statistics reported Monday, without giving a clear reason for the drop. Copper for delivery in May rose on the Comex market in New York, touching $4.5850 per pound ($10,087 per tonne), up 2.9% compared to Monday’s closing. The conflict in Ukraine could also drive copper prices higher, according to an S&P Global report. Russia is a heavy… Read More Here
Prospect attributes Zimbabwe lithium exploration success to Mnangagwa’s governance 7 International Lithium 

Prospect attributes Zimbabwe lithium exploration success to Mnangagwa’s governance

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ASX-listed battery metals project developer Prospect Resources attributes its current success, especially in Zimbabwe, to a “resurgence” of that country’s governance and “open for business” mining sector, says MD Sam Hosack. In Zimbabwe, Prospect – through its 100%-owned subsidiary Prospect Lithium Zimbabwe – has developed its Arcadia lithium project, which is an openpit mine with a life of 15.5 years, with proven reserves of 11.3-million tonnes at an average grade of 1.28% lithium oxide and probable reserves of 26.1-million tonnes at 1.2% lithium oxide. Arcadia is an undeveloped mine for which Prospect has a mining resource, comprising predominantly battery minerals –… Read More Here
Tharisa, Liebherr start testing of more efficient mining machines in pursuit of ESG goals 8 Equipment & Technology Environment Social Governance (ESG) International 

Tharisa, Liebherr start testing of more efficient mining machines in pursuit of ESG goals

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Dual-listed Tharisa announces that three Liebherr mining machines with more efficient engines and fuel systems have been delivered to the Tharisa mine in the Bushveld Complex, and have begun operational testing. The partnership with Liebherr is part of Tharisa’s environmental, social and governance (ESG) initiative to reduce its carbon footprint. The two T 236 mining trucks with a capacity of 100 t and one 72 t PR 776 dozer, both of which use the latest generation diesel engine technology, with the T 236s using Cummins QST 30 engines and the… Read More Here
Asante Gold kicks off mining at Bibiani 9 Gold International 

Asante Gold kicks off mining at Bibiani

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Asante Gold has received the required permits to commence mining at its open-pit Bibiani gold mine. Gold production is targeted for the September quarter this year. First ore has been delivered to the run of mine pad, a month ahead of schedule. Asante Gold has also begun the first cutback at the main pit. Mobilisation and site establishment is now two months ahead of schedule, with more than 75 items of heavy equipment and maintenance facilities at site, executive Dave Anthony said. Asante Gold plans for a full fleet of… Read More Here
Sandvik outlines its emission-free mining journey at The Electric Mine 2022 10 International Equipment & Technology Mining technology 

Sandvik outlines its emission-free mining journey at The Electric Mine 2022

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Sandvik Mining and Rock Solutions President, Henrik Ager, got The Electric Mine 2022 Conference in Stockholm, Sweden, off to a bang earlier this month, with a major product reveal that will set a new benchmark in the battery-electric underground mining space. After reflecting on a journey that saw him escape a broken lift on his way to the Radisson Waterfront that morning, Ager announced the company would soon release the largest-capacity battery-electric truck for underground mining to the market, the TH665B. With a 65-t-payload capacity, this machine will be measured against the… Read More Here

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