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Category: International

Hexagon’s Mining division partners with Phoenix Drill Control on autonomous drill tech 1 International Equipment & Technology Mining technology 

Hexagon’s Mining division partners with Phoenix Drill Control on autonomous drill tech

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Hexagon’s Mining division has signed an exclusive partnership agreement with Phoenix Drill Control, a technology company specialised in implementing autonomous technology to the open-pit, blasthole drilling process. Applying artificial intelligence (AI) and machine control to drill automation, Phoenix Drill Control’s autonomous drill technology overcomes the constraints typically associated with traditional drill automation platforms, such as removal or replacement of existing machine controls, extensive operator training and reliance on operator input, according to Hexagon’s Mining division. AI algorithms monitor all input signals and take dynamic corrective action, without operator input and… Read More Here
Congo court appoints temporary administrator to run China Moly’s Tenke mine 2 Mining in DRC International 

Congo court appoints temporary administrator to run China Moly’s Tenke mine

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A court in Democratic Republic of Congo on Monday appointed a temporary administrator to run China Molybdenum’s Tenke Fungurume copper and cobalt mine at the request of state miner Gecamines, a minority shareholder in the project. The order from the Tribunal of Commerce in the southeastern city of Lubumbashi marks a significant development in a dispute that broke out last year between Congolese authorities and China Moly over reserve levels at the mine. Congo’s government announced in August it had formed a commission to reassess the reserves and resources at the… Read More Here
Gold price swings as Ukraine crisis sharpens market divide 3 Gold International 

Gold price swings as Ukraine crisis sharpens market divide

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The crisis over Ukraine pushed gold to a one-year peak last week before a sharp reversal, and the price volatility widened a gulf between bulls and bears of the precious metal that has been growing for months. In one camp, banks such as Goldman Sachs see gold setting new highs as it becomes the “currency of last resort” in a time of high inflation and global uncertainty. In the other, the likes of UBS, who say rising interest rates across the globe will diminish the luster of an asset that produces no income… Read More Here
Gold climbs as traders weigh war, sanctions against rate hike 5 Gold International 

Gold climbs as traders weigh war, sanctions against rate hike

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Gold advanced, with investors remaining on edge as they assessed the impact of Russia’s invasion of Ukraine and Western sanctions, against the imminent monetary policy tightening in the US. Bullion fell a day earlier after surging to the highest in more than 17 months as traders digested weaker-than-expected sanctions on Russia following the country’s attack on its neighbor. Gold’s rally could have a lot further to go if a resulting commodity price spike leads to concerns of a material slowdown in growth in developed markets, according to Goldman Sachs Group. President Joe… Read More Here
World: against the backdrop of tensions between Russians and Ukrainians, the barrel of crude oil climbs to 104.80 USD on the international market 6 Oil & Gas International 

World: against the backdrop of tensions between Russians and Ukrainians, the barrel of crude oil climbs to 104.80 USD on the international market

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The price of crude oil has gained momentum on the international market, in a context marked by rising tensions between Ukraine and Russia. The barrel, the brent (type of crude oil used as a standard in the fixing of the price) of crude oil, exceeded the symbolic bar of 100 USD to settle at 104.80 USD on February 24, 2022. A record that it you have to look back 8 years, in 2014. In this year 2014, in a context of imposition and tightening of international sanctions against Tehran and… Read More Here
Nickel price reaches its highest level in a decade at 25,000 USD per ton 7 Nickel International 

Nickel price reaches its highest level in a decade at 25,000 USD per ton

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Nickel hit $25,000 a tonne for the first time since 2011, extending a rally driven by dwindling global inventories and fears that tensions in Ukraine could disrupt supplies from the main Russian producer. The metal, used in stainless steel and rechargeable batteries, rose 3.2% to $25,135 a tonne. It is the best performer on the London Metal Exchange this year, climbing amid a flurry of forecasts that supply will lag behind rapidly growing demand from the electric vehicle industry.  Commodity investors were weighing the potential damage of sanctions on Russia after… Read More Here
Here is the List of 50 Minerals essential to the American economy and its national security, the DRC hosts several of these products 8 Mining in DRC International 

Here is the List of 50 Minerals essential to the American economy and its national security, the DRC hosts several of these products

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The United States Geological Survey has released a new list of 50 mineral commodities critical to the US economy and national security after extensive evaluation by multiple agencies. The  2022 list of critical minerals was determined using the latest scientific methods to assess the criticality of minerals. The new list contains 15 more products than the first National Critical Minerals List created in 2018. platinum as individual entries rather than including them as “mineral groups.” Additionally, the 2022 list of critical minerals adds nickel and zinc to the list while removing helium, potash, rhenium,… Read More Here
Gold soars over 2%, palladium advances as Russia attacks Ukraine 9 Gold International 

Gold soars over 2%, palladium advances as Russia attacks Ukraine

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Gold prices jumped more than 2% on Thursday to their highest in over a year and palladium extended a rally as Russian forces invaded Ukraine after President Vladimir Putin authorised what he called a special military operation. Spot gold climbed 1.9% to $1 943.28 per ounce by 0720 GMT, after hitting its best level since January 2021 at $1 948.77. U.S. gold futures GCv1 jumped 1.9% to $1 945.90. Russian forces fired missiles at several cities in Ukraine and landed troops on its coast on Thursday, according to officials and… Read More Here
Gold steady as investors assess Russian sanctions and inflation 10 Gold International 

Gold steady as investors assess Russian sanctions and inflation

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Gold held steady as investors weighed the severity of Western sanctions on Russia against prospects for tighter US monetary policy. Bullion is having a strong start to 2022 on the back of rising geopolitical tensions in Europe, which have pushed prices to the highest in more than eight months despite expectations that the Federal Reserve will raise interest rates in March to curb inflation. The tensions in Europe are raising concerns over potential disruption of supplies of raw materials, bolstering prices for everything from energy to wheat and nickel. “The likelihood… Read More Here
Zimbabwe’s state-owned miner selected to revive steel firm 11 International Iron 

Zimbabwe’s state-owned miner selected to revive steel firm

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Zimbabwe has selected Kuvimba Mining House Ltd., a state-owned company, which has been shrouded in controversy, to revive one of the continent’s largest steel mills. The miner, which already has vast interests in gold and nickel, has been picked as the “investment partner” to breath new life into the Zimbabwe Iron and Steel Company, which has been shut for 14 years. At its peak, the plant produced nearly 1 million tons of steel a year. Kuvimba Mining has said it bought its assets from a company linked to Kudakwashe Tagwirei, a… Read More Here

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