You are here

Category: International

Copper price bounces back on Chile supply concerns 1 Copper International 

Copper price bounces back on Chile supply concerns

admin
The copper price bounced back on Tuesday as worries about supplies from top producer Chile gathered pace. BHP and the workers union at its Escondida copper mine said late on Monday they would extend government-mediated contract talks by a day in a last-ditch effort to stave off a strike. The world’s biggest copper mine accounts for about 4.5% of global copper supplies estimated at roughly 24 million tonnes this year. Several mines in the world’s top copper producer country are in the throes of tense labor negotiations. Workers at JX Nippon Copper’s Caserones mine decided… Read More Here
Barrick meets 2021 guidance target 2 Gold International 

Barrick meets 2021 guidance target

admin
Barrick Gold Corporation has completed or progressed major capital projects in the second quarter of the year while its globally broadened exploration programmes delivered substantial reserve gains and stepped up the search for new world-class discoveries. The new Phase 6 heap leach facility at Veladero has been commissioned on time while the third shaft at Turquoise Ridge in Nevada has been sunk to its final depth. Also in Nevada, the updated Goldrush feasibility study has confirmed that this is a world-class asset which meets Barrick’s investment criteria. In the Dominican… Read More Here
Copper price falls as China’s import volumes drop by over 10% 3 Copper International 

Copper price falls as China’s import volumes drop by over 10%

admin
Copper prices fell to their lowest in more than two weeks on Monday as a firm dollar and demand worries weighed on sentiment. Copper for delivery in September fell 1.4% from Friday’s settlement price, touching $4.285 per pound ($9,427 per tonne) on the Comex market in New York. China’s January-to-July copper import volumes dropped by more than a tenth compared with the first seven months of 2020. The biggest copper buyer in the world bought 3.219 million tonnes of unwrought copper and copper products from January to July, down 10.6%… Read More Here
Gold price at four-month low at $ 1,728 an ounce 4 Gold International 

Gold price at four-month low at $ 1,728 an ounce

admin
Gold continued its slump after a stronger-than-expected US jobs report  last week  fueled bets that the Federal Reserve may soon start cutting its massive monetary stimulus. Spot gold fell as low as 4.4% in the first few hours of trading in Asia, but recovered to recoup about half of those losses once markets opened in New York. At 11:15 am ET, gold was down 2.0% to $ 1,728.04 an ounce, the lowest since early April. US gold futures also fell 1.9% to $ 1,729.30 an ounce. Silver also fell 7.5%, hitting a more… Read More Here
PSG expects the commodity boom to last longer, and these are the stocks it's buying 5 Copper International 

PSG expects the commodity boom to last longer, and these are the stocks it’s buying

admin
As mining companies post super profits, more investors are looking at the sector with new enthusiasm. Many asset managers increased their allocation to commodities at first sight of constrained supply, but the current commodity price boom has drawn even the attention of those who don’t ordinarily like miners and oil companies. During PSG’s winter market update on Friday, Philip Wörz, investment analyst and fund manager at PSG Asset Management, pointed out that the price of copper has doubled since last year, crude oil prices are back around $70 a barrel,… Read More Here
Sandvik opens Argentina service centre 6 International Mining technology 

Sandvik opens Argentina service centre

admin
Swedish mining engineering firm Sandvik’s Mining and Rock Solutions division has added a new service centre in Caleta Olivia, province of Santa Cruz, to its Argentina facilities. Sandvik said the maintenance and repair workshop for mining equipment, which opened in July, offers South America’s first test bench for transmissions, axles and converters. This bench can be used to rotate and work on heavy equipment, and the workshop can conduct repairs on surface and underground drills as well as underground trucks and loaders, said the company. The workshop has a 1,775-square-meter service… Read More Here
Gold price plummets as US employment data beat expectations 7 Gold International 

Gold price plummets as US employment data beat expectations

admin
Gold prices took a hard fall on Friday after a strong US employment report boosted expectations the Federal Reserve could begin tapering its economic support sooner than previously anticipated. Spot gold plummeted 2.5% to $1,760.88 per ounce by 11:30 a.m. ET, its lowest in over a month, while US gold futures slid 2.6% to $1,760.90 per ounce in New York. The latest US non-farm payrolls (NFP) report showed that 943,000 jobs were added during the month of July. This figure was well above the market consensus estimate of 870,000. “The… Read More Here
Copper gains as world’s biggest mine preps for strike 8 Copper International 

Copper gains as world’s biggest mine preps for strike

admin
Copper prices rose on Friday as a union at the world’s biggest copper mine, Chile’s Escondida, told workers to prepare for a strike that would reduce supply of the metal. However, prices were still down this week due to concerns that demand in top consumer China, currently grappling with a coronavirus outbreak, will weaken. Benchmark copper was up 0.8% at $9,566 a tonne at 1033 GMT. It was down 1.2% from last Friday but has still gained more than 20% so far this year, although it is off a record high of… Read More Here
BHP joins Komatsu’s GHG Alliance 9 Mining technology International 

BHP joins Komatsu’s GHG Alliance

admin
To accelerate its push to become a net-zero operator by 2050, BHP announced it will become a founding member of Komatsu’s GHG Alliance, which aims to develop commercially viable zero-greenhouse gas emissions haul trucks. As a founding partner of the Alliance, the world’s no.1 miner plans to operate one of the first batches of zero-emission trucks upon commercial release. BHP will provide engineering and technical resources to Komatsu to support the development phase as required, which in turn will provide BHP with real-time access to technology in development. In the… Read More Here
Copper price down on softer growth in US and China 10 Copper International 

Copper price down on softer growth in US and China

admin
Copper prices dropped on Wednesday after reports showing softer manufacturing growth in the US and China. “Industrial metals are increasingly feeling the weight of a synchronized slowing in US and Chinese growth,” TD Securities analysts led by Bart Melek said in a note. Copper for delivery in September fell 1.4% from Monday’s settlement price, touching $4.334 per pound ($9,534 per tonne) on the Comex market in New York. China’s factory activity expanded in July at the slowest pace in 17 months, with the official Purchasing Managers’ Index (PMI) easing to 50.4 from… Read More Here

You have successfully subscribed to the newsletter

There was an error while trying to send your request. Please try again.

Copperbelt Katanga Mining will use the information you provide on this form to be in touch with you and to provide updates and marketing.