International - Copperbelt Katanga Mining

Copper price down as Chinese imports fall

August 4, 2021August 4, 2021 admin

Copper prices fell on Tuesday pressured by China’s lower metals imports. Copper for delivery in September fell 1.4% from Monday’s settlement price, touching $4.372 per pound ($9,619 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 50.9 in June, remaining above the 50-point level that separates growth from contraction. China’s imports of unwrought copper have also been trending lower since the sharp recovery from the coronavirus… Read More Here

Gold International

Gold price can still top $3,000 amid recovery, fund says

August 3, 2021August 3, 2021 admin

Gold is primed to surge to fresh highs as the risks around central banks unwinding massive stimulus are under-appreciated by investors, said a fund manager who forecast the metal’s ascent to a record last year. Diego Parrilla, who manages the $250 million Quadriga Igneo fund, said there isn’t widespread awareness of the long-term damage that’s been caused by ultra-loose monetary and fiscal policies. Artificially low interest rates have created asset bubbles that are too big to burst, which will make it very difficult for central banks to normalize without risking… Read More Here

Copper International

Copper price falls after China’s metals auction

July 31, 2021July 31, 2021 admin

The copper price fell on Friday after China released more base metals from its state reserves. Copper for delivery in September fell 1.2% from Thursday’s settlement price, touching $4.466 per pound ($9,825 per tonne) on the Comex market in New York. The release of state metal reserves is one of a number of attempts by Beijing to cool a stellar rally in commodity prices that has squeezed manufacturers’ margins. China announced it would release a total of 170,000 tonnes of metals, including copper, aluminum and zinc, from state reserves on… Read More Here

Cobalt Copper International Mining in DRC

Glencore records ‘modest’ cobalt production boost

July 31, 2021August 2, 2021 admin

Glencore’s zinc, cobalt and copper production rose “modestly” in the first half of the year, compared to the same period in 2020, as operations recovered from Covid-related suspensions. Copper production rose 2% to 598,000 tonnes, while zinc output increased by 6% or 31,700 tonnes to 581,800 tonnes. Glencore produced 13,000 tonnes of cobalt from its own sources in the first half of the year, a 4% rise or 500 tonnes compared to the same period last year. The cobalt figure includes 1,100 tonnes of material sourced from its shuttered Mutanda… Read More Here

Gold International Mining Companies

RANKED: World’s 10 biggest gold mining companies

July 30, 2021July 30, 2021 admin

Gold made history in 2020 when the price hit a record high in August as pandemic concerns weighed on investor sentiment. Gold mining has been a hallmark of commerce across the ages, and according to the USGS, about 244,000 tonnes of gold has been discovered to date, resulting in 187,000 tonnes of historical production, leaving the current underground reserves at 57,000 tonnes. Preliminary data shows about 3,200 tonnes of gold were produced globally over the past year. Even though many junior mining companies are engaged in the gold business, the industry today… Read More Here

Gold International

Gold jumps to $ 1,831 an ounce on the international market

July 30, 2021July 30, 2021 admin

Gold prices jumped more than 1% on Thursday after moving sideways over the past week, as investors reacted to accommodative messages from the U.S. Federal Reserve after keeping the benchmark interest rate close to zero (as expected). The spot gold was up 1.3% at $ 1 830.06 an ounce at noon ET, near its highest level since mid-July. US gold futures gained a larger 1.7%, trading at $ 1,831.40 an ounce in New York. Fed Chairman Jerome Powell said on Wednesday the central bank was “far from considering a rate hike” despite optimism about the… Read More Here

Mining technology International

Sandvik to acquire premium solid round tools company Chuzhou Yongpu Carbide Tools Co., Ltd

July 29, 2021July 29, 2021 admin

Sandvik has signed an agreement to acquire 67% of Chuzhou Yongpu Carbide Tools Co., Ltd, a China based premium solid round tools company, with a call option to buy the remaining part in three years’ time. Chuzhou Yongpu Carbide Tools Co., Ltd is mainly focused on global and local OEMs and connected suppliers operating in China. Its capabilities include the full solid round tools manufacturing value chain with an offer covering blanks, cutting tools, reconditioning and coating services. The company will be reported in Sandvik Coromant, a division within Sandvik… Read More Here

Copper International

Rising supply to push copper price further below record peak

July 29, 2021July 29, 2021 admin

Copper prices are set to extend their retreat from record highs in the coming months, under pressure from rising mine supply and China’s drive to cap commodity prices, a Reuters poll found. Benchmark copper soared to a record peak of $10,747.50 a tonne in May, partly propelled by speculators betting that strong demand from electric vehicles and other green energy applications was powering a supercycle. Since then, copper has pulled back on worries about a resurgence of the pandemic, the potential for central banks to taper stimulus and China’s sale of strategic… Read More Here

Gold International

Gold extends gains to third day on Powell’s dovish remarks

July 29, 2021July 29, 2021 admin

Gold gained for a third straight session on Thursday after U.S. Federal Reserve Chairman Jerome Powell struck a dovish tone, indicating much remains to be done before policy tightening begins, and as a softer dollar added support to the metal. Spot gold rose 0.6% to $1,818.50 per ounce by 0703 GMT. U.S. gold futures climbed 1% to $1,818.20. The Federal Reserve has talked down the risks of a rate hike and tapering a little bit, and that gives gold prospects to drift higher in the short term, said Kyle Rhoda,… Read More Here

Mining technology International

New Sandvik Technology Centre in Zimbabwe

July 28, 2021July 28, 2021 admin

Sandvik Mining and Rock Solutions’ newly launched technology centre in Harare, Zimbabwe, is, assisting the region’s mining industry on a journey into the digital future,the company says. The Sandvik Technology Centre has already begun working with technology-focused customers in underground hard-rock mines locally to raise the productivity bar. According to Sandvik Technology Centre Manager, Hosea Molife, the facility’s key aim is to use digital technology to make mines safer and more productive. “Our starting point was an OptiMine implementation for the monitoring and tracking of underground mobile equipment and customer… Read More Here