International - Copperbelt Katanga Mining

Copper price rebounds, commodity demand signals “firing on all cylinders” 1

Copper rebounded from Wednesday Slump buoyed by expectations that demand will remain resilient in the face of possible tapering by the US Federal Reserve and China’s stepped-up efforts to jawbone prices lower. Copper rose 0.4% to $10,038 a tonne Thursday morning on the London Metal Exchange, after climbing as much as 1.8%. Copper for delivery in July was up 0.3% on the Comex market in New York, with futures trading at $4.5550 per pound ($10,021 a tonne). Sentiment improved with equities climbing and with a US report showing applications for state unemployment insurance fell last… Read More Here

Glencore pilots cobalt blockchain traceability solution

May 20, 2021May 20, 2021 admin

Glencore plans to partner with miners Eurasian Resources Group, CMOC and battery material supplier Umicore on trials of a blockchain-based traceability solution that will track cobalt from its source to use in an electric vehicle. The pilot of the ReISource solution will launch this year, with a final deployment scheduled for 2022. It will track cobalt from upstream production facilities in the Democratic Republic of the Congo to downstream uses in EV batteries. “Blockchain technology offers us an unprecedented ability for traceability in the supply chain. Through this pilot, we… Read More Here

Copper International

Copper price tanks after China said it will stabilise commodity market

May 20, 2021May 23, 2021 admin

Copper prices fell almost 4% on Wednesday after China said it will strengthen its management of commodity supply and demand to curb any “unreasonable” increases in prices. Prices for commodities such as coal, steel, iron ore and copper – of which China is the world’s biggest user – have surged this year, fuelled by post-lockdown recoveries in demand and easing liquidity globally. Copper for delivery in July was down 3.87% midday Wednesday, with futures trading at $4.5425 per pound ($9,993 a tonne) on the Comex market in New York, heading for the… Read More Here

International Gold

Gold price tops 3-month high as fund buying picks up

May 18, 2021May 18, 2021 admin

Gold prices touched their highest in over three months on Monday, with signs showing money managers and exchange-traded fund investors are turning more positive on the precious metal. Spot gold advanced 1.2% to $1,865.74/oz by 11:50 a.m. ET Monday, crossing the key $1,850/oz technical level for the first time since early February. US gold future also gained $1.5% to $1,865.80/oz on the Comex in New York According to government figures from last week, hedge fund managers have increased their long-only position in US futures and options by 12% from a… Read More Here

Copper International

Copper resumes gains as supply risks, China demand buoy outlook

May 17, 2021May 17, 2021 admin

Copper rebounded after its first weekly loss in six on concerns about disruptions to supply in Chile and as Chinese demand showed signs of picking up. Workers at BHP Group’s remote operations center in Santiago rejected the company’s final wage offer, with almost 97% of the union’s members opting to strike. The miner now has the right to call for government mediation that could last as long as 10 days and, while a strike raises the specter of disruptions, BHP may opt to bring in replacements to keep the center… Read More Here

Battery Metals Cobalt International Mining in DRC

Glencore boss warns of future China dominance in electric vehicles

May 15, 2021May 15, 2021 admin

US and Europe risk being left behind unless they secure cobalt supplies for batteries, says Ivan Glasenberg. The car industry in the US and Europe risks being left behind by their Chinese rivals unless they secure supplies of cobalt, according to the world’s biggest producer of the key battery metal. Glencore chief executive Ivan Glasenberg told the FT Future of the Car Summit on Wednesday that western carmakers would be naive to think they could always rely on China to supply the batteries for electric vehicle fleets. Glasenberg said Chinese… Read More Here

Covid-19 Copper International Mining in Zambia

Copper production from top ten companies to increase by up to 3.8%

May 14, 2021May 14, 2021 admin

Production from the world’s top 10 copper mining companies decreased in 2020, albeit by a marginal 0.2% to 11.76 million tonnes, according to UK-based analytics firm GlobalData. Although the initial impact of the covid-19 pandemic on global mining operations was immense, six of the 10 largest copper producers still succeeded in increasing output for the year. The highest increase in copper production was by Canada’s First Quantum, which, despite all the challenges, reported 10.4% growth in 2020. The company’s Sentinel mine in Zambia and Cobre Panama were key contributors to… Read More Here

Equipment & Technology International

BHP, Vale, Rio launch challenge to encourage haul truck electrification

May 13, 2021May 13, 2021 admin

Three resource giants, BHP (ASX, LON, NYSE: BHP), Rio Tinto (ASX, LON, NYSE: RIO), and Vale (NYSE: VALE), launched today the Charge On Innovation Challenge, a global competition for technology innovators to develop new concepts for large-scale haul truck electrification systems with the main goal of cutting emissions from surface mining operations. In partnership with Australia’s mining equipment, technology and services industry body Austmine, this initiative is also expected to generate solutions that are capable of unlocking safety, productivity, and operational improvements. According to the challenge’s founding patrons, current stationary charging… Read More Here

International Iron & Steel

Rio Tinto develops new atomised steel powder for 3D printing

May 13, 2021May 13, 2021 admin

Rio Tinto has developed and tested a new water atomised steel powder designed for 3D printing applications at its Rio Tinto Fer et Titane (RTFT) metallurgical complex in Sorel-Tracy, Quebec. The metal dust delivers mechanical properties superior to conventional metal manufacturing techniques, paving the way for advances in using 3D printing technology for metal parts. RTFT is developing a range of different powder grades with advanced properties for 3D printing to meet customer needs. “This is a new generation of steel powders designed for 3D printing at RTFT’s metallurgical complex,… Read More Here

Battery Metals Cobalt International

Glencore boss warns of future China dominance in electric vehicles

May 13, 2021May 13, 2021 admin

The car industry in the US and Europe risks being left behind by their Chinese rivals unless they secure supplies of cobalt, according to the world’s biggest producer of the key battery metal. Glencore chief executive Ivan Glasenberg told the FT Future of the Car Summit on Wednesday that western carmakers would be naive to think they could always rely on China to supply the batteries for electric vehicle fleets. Glasenberg said Chinese companies had been quick to realise the vulnerability of their supply chains and “tied up” lots of… Read More Here