International - Copperbelt Katanga Mining

Copper price soars to new high as stockpiles hit 47-year low

October 18, 2021October 18, 2021 admin

Copper price hit a record high on Friday as surging power prices threaten to curb supply at a time when exchange stockpiles are at rock bottom. Copper for delivery in December rose sharply for the third day in a row on the Comex market in New York, touching $4.7810 per pound ($10,518 per tonne), the highest since the record hit on May 12, 2021 — and a 12% gain for the week. Inventories available on the London Metal Exchange are at the lowest since 1974. Copper tracked by LME warehouses not… Read More Here

Mining technology International

Sandvik orders beat forecast, confirms SMT listing

October 18, 2021October 18, 2021 admin

Sweden’s Sandvik reported a third-quarter order intake that exceeded market expectations on Monday and said it was planning to list its specialty steel business on Nasdaq Stockholm next year. The metal-cutting tools and mining gear maker was helped by strong demand in the mining and infrastructure segments, while supply chain bottlenecks and component shortages remained a challenge. Demand from the automotive industry in China slowed somewhat in the quarter, as the global semiconductor shortage kept pressuring the sector. “We think it will gradually improve but I don’t think we will see a material improvement… Read More Here

Mining technology International

Nokia launches 5G device, routers for mines

October 18, 2021October 18, 2021 admin

Nokia will launch a new 5G SA capable smartphone and a range of field routers to allow more enterprises to connect teams and equipment in demanding environments using private wireless networks. The company said its expanded portfolio of devices would enable better connectivity between machines, sensors and vehicles in harsh environments, such as mines. It explained that the “highly durable” Nokia XR20 smartphone could work in extreme temperatures from +55c to -22c, 1.8m drops and 1 hour underwater. Like other industrial handheld devices, it will come pre-loaded with applications such as… Read More Here

Copper International

Copper price tops $10,000 as energy crisis hits supply

October 15, 2021October 15, 2021 admin

The copper price continued to rally on Thursday amid a global energy crisis that is knocking supply offline and heaping pressure on fabricators scrambling for metal. Copper for delivery in December rose sharply for a second day in a row on the Comex market in New York, touching $4.6365 per pound ($10,200 per tonne), the highest since the beginning of June. Copper climbed as much as 3.6% to $9,994 a tonne in London. The cash-to-three-month spread was trading at the biggest gap since 2012, as global exchange inventories plummet. Five… Read More Here

Gold International

Gold price rallies as bond yields, dollar retreat

October 14, 2021October 14, 2021 admin

Gold advanced nearly 2% on Wednesday on a retreat in the dollar and US Treasury yields, with investors’ focus on minutes from the Federal Reserve’s latest policy meeting for confirmation of its tapering strategy. Spot gold rose 1.9% to $1,794.73 per ounce by noon EDT, near its highest in a month. US gold futures were up 2.0% to $1,795.40 an ounce in New York. Other precious metals followed, with spot silver rising 2.7% to $23.17 per ounce, platinum gaining 1.1% to $1,023.50 and palladium adding 3.2% to $2,116.50. “Gold is… Read More Here

Copper International

Copper price surges to 2-month peak, shaking off China concerns

October 14, 2021October 14, 2021 admin

The global energy crisis that has led to power shortages and factory slowdowns did not stop copper prices from rallying to their highest levels since the beginning of August. On Wednesday, copper futures for December delivery erased earlier losses to trade at $4.499/lb for a gain of 4.0% as of 3:40 p.m. EDT. The intraday high was $4.528/lb. The rebound in copper prices comes amid short-term concerns surrounding China and its debt-addled property sector, plus the ongoing economic threat posed by the covid-19 delta variant. “In the short term there are some… Read More Here

Gold International

Gold steadies as traders weigh elevated inflation, growth risks

October 13, 2021October 13, 2021 admin

Gold steadied as investors weighed concerns over inflation, fueled by a surge in energy and metal prices that threatens to derail the economic recovery. Focus will turn to the U.S. on Wednesday, where consumer price index data are expected to show price pressures remained elevated last month. And while minutes from the Federal Reserve’s September meeting are likely to signal an imminent scaling back of asset purchases, the latest miss on jobs data may complicate the timing of when tapering could start. Meanwhile, Goldman Sachs Group Inc. economists have cut forecasts for U.S. growth this… Read More Here

Equipment & Technology International Mining technology

Underground electric haulage comes full circle as Epiroc, ABB & Boliden announce battery trolley project at Kristineberg

October 12, 2021October 12, 2021 admin

There is a long underground trolley haul heritage in mining that really took shape at the Kiruna iron ore mine in Sweden in the 1950s after which the Kiruna Trucks are named, then continued at sites like Zinkgruvan, also in Sweden, and which can also be seen in the industry with the trolley trucks still operating at Vale’s Coleman and Creighton nickel mines in Canada. These were mainly 50 t class trucks. The Kiruna Trucks are electric trolley trucks – originally a DC design which was later converted to AC… Read More Here

Copper International

Copper price drops to $ 9,110 per tonne amid concerns over demand outlook

October 7, 2021October 7, 2021 admin

The price of copper fell on Wednesday, a sign that the outlook for global growth is worsening. Investors are bracing for a slower but still robust economic recovery from the pandemic and a gradual tightening of monetary policy, as inflation concerns set in. Copper for December delivery fell 1.2% from Tuesday’s settlement price to $ 4.141 per pound ($ 9,110 per tonne). Concerns about the outlook for demand have so far been largely focused on China, where manufacturers face a power shortage, but signs of a slowdown are emerging in Europe… Read More Here

International Equipment & Technology

BEKA Schréder Supplies Outdoor Lighting Solution for APLI’s Fruit Terminal

October 5, 2021October 5, 2021 arnbethnic

BEKA Schréder has supplied the outdoor lighting for APLI’s fruit terminal in the Port of Coega in the Eastern Cape. This newly constructed site combines fruit packing, cold storage and container depot activities in a single development. Various luminaires, designed and manufactured in South Africa, were supplied to provide the outdoor lighting solution. These products were chosen for their long lifespan, high-quality materials and trust in the BEKA Schréder brand. Internal roads The LEDLUME-MIDI mounted on glass fibre reinforced polyester (GRP) poles have been installed along the internal roads. The… Read More Here