International - Copperbelt Katanga Mining

Electric vehicle battery demand surge supercharges nickel

February 22, 2022February 22, 2022 admin

Nickel rose to its highest level in more than a decade on Monday morning. London Metal Exchange (LME) three-month nickel has broken through January’s high of $24,435 per tonne to reach $24,610, a level last traded in 2011. Time-spreads remain in the grip of a ferocious squeeze, the cash premium closing last week valued at $465 per tonne. The huge incentive for LME delivery has drawn some metal into exchange warehouses but not enough to halt the running downtrend. The possibility of sanctions on Russia, which accounts for about 7% of… Read More Here

Gold International

Gold price holds near 8-month high as investors monitor Ukraine crisis

February 22, 2022February 22, 2022 admin

Gold prices eased in volatile trade on Monday, as doubts over a potential summit between Russia President Vladimir Putin and his US counterpart Joe Biden to help resolve the crisis in Ukraine kept the safe haven metal near an 8-month high. Spot gold held steady at $1,896.86 per ounce by 12:40 p.m. ET, while US gold futures traded at about $1,898.50 per ounce in New York. Earlier, bullion fell as much as 0.6% after statements from Washington and the Elysee that both the US and Russia had agreed to the summit… Read More Here

Gold International

AngloGold’s 2021 profit falls 39% on lower output, higher cost

February 22, 2022February 22, 2022 admin

South Africa-based gold miner AngloGold Ashanti reported a fall of 38.66% in its profit for 2021 on Tuesday, as lower gold production and inflationary pressure hit its earnings. The company’s headline earnings per share (HEPS) — the main profit measure in South Africa — was 146 U.S cents, down from 238 U.S cents a year ago. The miner, with operations across Africa, Australia and Latin America, said it will pay a dividend of 14 cents per share, taking the full year dividend to 20 cents per share. The Johannesburg Stock Exchange-listed… Read More Here

Gold International

Gold pushes above $1 900 as Ukraine crisis spurs haven demand

February 18, 2022February 18, 2022 admin

Gold advanced to an eight-month high above $1 900/oz as the prolonged standoff over Ukraine stoked demand for havens. The US ramped up warnings of a possible Russian attack, with President Joe Biden saying a “false-flag” event may be under way. Moscow said no invasion was planned, but given proposed US security assurances were unsatisfactory, Russia might have to resort to “military-technical measures.” Gold has made a strong start to the year, surging to the highest since June, as the possibility of a conflict in Europe buoyed prices. The commodity is set for a third weekly gain even as… Read More Here

Gold International Mining Companies

Asante reports ‘significant interest’ in $100m raise for Bibiani

February 18, 2022February 18, 2022 admin

Exploration and development company Asante Gold has received “significant investor interest” in a private placement of common shares to raise up to $100-million at C$1.75 a share. Emiral Resources, which currently holds 19.6% of the company’s outstanding common shares, has indicated that it intends to participate in the offering at a level sufficient to maintain its current percentage shareholding. Funds will be used for working capital, including the payment of the second $30-million payment to Resolute Mining for the Bibiani mine acquisition, initial mine development costs at the Bibiani mine,… Read More Here

Equipment & Technology International Mining technology

Sandvik trials largest capacity electric truck

February 18, 2022February 18, 2022 admin

Sweden-based original equipment manufacturer (OEM) Sandvik has unveiled a prototype of the Sandvik TH665B, the world’s largest capacity battery-electric truck for underground miners. The company said the truck has a payload capacity of 65-tonnes and is currently completing factory testing in California, US. Finalisation of the trial agreement with Barminco and AngloGold Ashanti Australia will see the truck trialled at the Sunrise Dam gold mine to “prove its viability in a long ramp application.” Commercial production of the Sandvik is expected to begin in late-2023. The company said the unveiling… Read More Here

Equipment & Technology International Mining technology

Sandvik to supply major potash project

February 17, 2022February 17, 2022 admin

Sweden-based original equipment manufacturer (OEM) Sandvik Mining and Rock Solutions has won a $215.12 million (SEK 2 billion contract) from BHP to supply equipment to the Jansen Potash project in Saskatchewan, Canada. The company said the contract has followed “several years of close collaboration” with BHP to develop “the underground mining equipment and automation solution.” Sandvik confirmed to Mining Magazine that the order included its borer miner but didn’t detail exact models. The equipment is due to be delivered in the third quarter of 2023 and extend to 2026. Sandvik said an… Read More Here

Gold International

Gold price highest since June as concerns over Ukraine continue

February 17, 2022February 17, 2022 admin

Gold prices rose on Wednesday as concerns over the Russia-Ukraine situation lingered on, and as markets looked forward to minutes from the Federal Reserve’s last policy meeting. Spot gold saw a 0.6% gain to $1,865.72 per ounce by noon ET, its highest since June 2021. US gold futures were also up 0.6%, trading at $1,866.60 an ounce in New York. “Gold is attracting a wide range of investors that are looking for protection as they are realizing that there’s not going to be a quick resolution to this (Russian-Ukraine) situation,”… Read More Here

Mining Companies International

Barrick Gold announces $1bn buyback as quarterly earnings jump

February 17, 2022February 17, 2022 admin

Barrick Gold Corp on Wednesday announced a share buyback of up to $1 billion as the miner’s fourth-quarter results beat analysts’ estimates following strong production at its Nevada mines and a smaller tax take than expected. Barrick’s U.S.-listed shares rose around 5% at the open. Net earnings more than doubled from the previous quarter to $726 million, while adjusted earnings per share were $0.35, beating expectations of $0.30 from analysts who had anticipated a higher fourth quarter tax rate. While costs across Barrick’s copper and gold operations climbed in 2021 and… Read More Here

Mining in DRC International Mining Companies

Glencore sets aside $1.5bn to settle bribery probes

February 15, 2022February 15, 2022 admin

Investigations into corruption at Glencore have been underway since 2018, as the firm faces allegations of bribery and market manipulation. Glencore has announced its decision to set aside $1.5bn to resolve investigations into bribery and corruption at a number of its operations. The Anglo-Swiss firm is facing probes in the US, UK, and Brazil over corruption at its operations in the Democratic Republic of Congo (DRC), Venezuela, and Nigeria, with allegations first being levelled in 2018. Such investigations are expected to be resolved this year. The news comes as the… Read More Here