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Gold climbs as Moderna CEO's warning rattles risk appetite 1 Gold International 

Gold climbs as Moderna CEO’s warning rattles risk appetite

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Gold climbed higher on Tuesday as investors sought safe havens again after Moderna’s CEO warned Covid-19 vaccines were likely to be less effective against the Omicron variant, putting bullion on course for a second straight monthly gain. Spot gold rose 0.4% to $1 792.23 per ounce by 1255 GMT, while US gold futures advanced 0.5% to $1 794.70. The Moderna chief’s comments rattled financial markets, leading to a slide in European equities. The US dollar index also fell 0.6%, helping gold’s advance by making it a cheaper bet for overseas buyers, while U.S. benchmark 10-year Treasury yields hit their… Read More Here
Copper under pressure on Omicron uncertainty 2 Copper International 

Copper under pressure on Omicron uncertainty

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Copper prices came under pressure on Tuesday due to worries about the Omicron coronavirus variant and its impact on demand and growth, but above consensus manufacturing data from top consumer China and low stocks limited the losses. Benchmark copper on the London Metal Exchange traded down 0.8% at $9,505 a tonne in official rings. “While the severity of the new variant remains a big uncertainty, it casts a shadow over demand growth in the near future and further complicates the supply chain,” said ING analyst Wenyu Yao. “For most LME metals,… Read More Here
Sandvik buys ICAM Technologies 3 Equipment & Technology International Mining technology 

Sandvik buys ICAM Technologies

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Mining equipment supplier Sandvik has signed an agreement to acquire Canada-based ICAM Technologies, a solution provider that translates CAM data into optimised coding for guiding CNC machining operations. Sandvik said the acquisition would enable it to provide more productive solutions within the component manufacturing process. It said that ICAM’s software combines post-processing, machine simulation and tool path optimisation into solutions that programming and part machining time. The software is complementary with the verification and optimisation technology of CGTech, a global leader in software for numerical simulation, verification and optimising, also… Read More Here
Copper price rises as markets assess omicron variant impact 4 Copper International 

Copper price rises as markets assess omicron variant impact

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The copper price rose on Monday, recouping some of last week’s losses fuelled by the newly identified coronavirus variant, with markets trying to gauge its severity and its possible impact on economic recovery. Copper for delivery in March was up 2% on the Comex market in New York, touching $4.38 per pound ($9,636 per tonne).  The most-traded January copper contract on the Shanghai Futures Exchange fell 1.2% to 70 230 yuan a tonne, tracking Friday’s sell-off in London. The World Health Organisation warned that deciding the severity level of the omicron variant… Read More Here
Gold rises as Omicron fears offset strength in dollar 5 Gold International 

Gold rises as Omicron fears offset strength in dollar

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Gold prices edged higher on Monday as concerns over the impact of the Omicron coronavirus variant offset a stronger dollar, with investors assessing whether the emergence of the variant could change the U.S. Federal Reserve’s hawkish stance. Spot gold rose 0.2% to $1,794.87 per ounce by 0646 GMT, while U.S. gold futures advanced 0.5% to $1,794.20. With new cases of the Omicron variant found in the Netherlands, Denmark and Australia, more countries imposed travel restrictions to try to seal themselves off.  “Given the uncertainty around whether this new variant is… Read More Here
Copper price sinks as new covid variant spooks markets 6 Copper International 

Copper price sinks as new covid variant spooks markets

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Copper prices and other industrial metals slid on Friday as a new and possibly vaccine-resistant coronavirus variant found in South Africa shook market sentiment. Benchmark copper on the London Metal Exchange (LME) shed 2.9% to $9,474 per tonne in official trading. Copper for delivery in March was down 3.9% on the Comex market in New York, touching $4.28 per pound ($9,416 per tonne).  LME aluminium lost 4.2% to $2,601 a tonne, zinc shed 3.1% to $3,197, lead was down 0.4% to $2,261, tin eased 0.5% to $38,600 while nickel ceded 3.7% to… Read More Here
Gold gains as new Covid-19 variant lifts safe-haven demand 7 Gold International 

Gold gains as new Covid-19 variant lifts safe-haven demand

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Gold prices gained on Friday, as concerns over the spread of a newly identified coronavirus variant boosted the metal’s safe-haven appeal, although bullion was set for a weekly drop on growing bets the US Federal Reserve could turn more hawkish. Spot gold was up 0.5% at $1 797.46/oz, as of 04:45 GMT. US gold futures advanced 0.8% to $1 797.70. The variant, detected by scientists in South Africa, may be able to evade immune responses and has prompted Britain to hurriedly introduce travel restrictions on the African nation. Further aiding gold’s climb, the dollar index eased 0.2%… Read More Here
Lucara says diamond market “healthiest” in years 8 Diamond International 

Lucara says diamond market “healthiest” in years

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Lucara Diamond (TSX: LUC) said on Wednesday the global market for rough stones and diamond jewellery has reached a healthy balance thanks to supply improvements and fundamentals. The Vancouver-based miner said it expected the positive trend to continue in years to come and set its 2022 targets accordingly. Next year, which marks its Karowe mine’s tenth year of operations, Lucara anticipates producing up to 340,000 carats, to be sold through its multi-sales channel approach, which should generate revenues of between $185 million and $215 million.  The figure does not include any estimated contributions of revenue from… Read More Here
Sandvik launches Europe's first BEV trial 9 Equipment & Technology International Mining technology 

Sandvik launches Europe’s first BEV trial

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Mining equipment manufacturer Sandvik has partnered with Boliden to launch the first BEV loader trial in Europe at the Garpenberg zinc mine in Sweden. The Sweden-based company said its Mining and Rock Solutions segment had agreed to a 12-month collaborative trial period for the new 18-tonne Sandvik LH518B battery-electric loader. The objective of the trial is to support Boliden’s sustainability efforts by cutting greenhouse gas emissions underground. It is planned to start in late 2022. It described the Sandvik LH518B as “easy to implement” in most underground operations because it… Read More Here
Cobalt at 61,000 USD per tonne on the international market 10 Cobalt International 

Cobalt at 61,000 USD per tonne on the international market

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The trend in the basic values ​​of export mining products from the Democratic Republic of the Congo is on the rise in the week from November 22 to 27, 2021, according to projections by experts from the National Mercurial Commission of the Ministry of Foreign Trade expensive to Jean-Lucien Bussa. Cobalt is the leading mining product showing an upward trend. A tonne of cobalt is trading this week around $ 61,232.85 versus $ 60,024.71 per tonne last week, a positive price spread of $ 1,208.14. Copper is down this week. It is… Read More Here

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