International - Copperbelt Katanga Mining

Copper price hits new high on declining scrap supplies

May 12, 2021May 12, 2021 admin

Shortages of copper and declining inventories could drive prices to levels beyond current record highs unless scrap supplies increase — scrap accounts for about a third of the roughly 30 million tonnes of annual global copper supplies. As copper prices rise, the flow of scrap accelerates as the market attempts to cover the gap between demand and supply. Copper for delivery in July was up 0.9% Tuesday afternoon, with futures trading at $4.7620 per pound ($10,476 a tonne) on the Comex market in New York. “The copper market is tight,… Read More Here

Gold International

Gold holds near three-month high as inflation, Fed in focus

May 11, 2021May 11, 2021 admin

old held near the highest level in three months as investors weighed growing inflation risks and comments from Federal Reserve officials on the labor market for clues on monetary policy going forward. Bond market expectations for the pace of consumer price inflation over the coming half decade surged on Monday to the highest level since 2006. The jump in the five-year breakeven rate comes amid a run-up in commodities and adds to a longer-term uptick in inflation bets that’s been fueled by improving prospects for growth, plans for infrastructure spending… Read More Here

Copper International

Copper price hits all-time high in New York as bulls stampede

May 7, 2021May 7, 2021 admin

Copper price hit a record high on Thursday as Chinese investors unleashed fresh demand following a five-day holiday. Copper for delivery in July was up 1.71% by 1:42 pm (EDT), with futures at $4.6015 per pound ($10,123 a tonne) on the Comex market in New York, over the $4.58 per pound high reached in February 2011. The reopening of major industrial economies is sparking a surge across commodities markets from corn to lumber, with tin climbing above $30,000 a tonne for the first time since 2011 also on Thursday. Copper has… Read More Here

Gold International

Gold price back above $1,800 as inflation fears linger

May 7, 2021May 7, 2021 admin

Gold prices jumped to their highest in nearly three months on Thursday, with a weaker dollar and easing Treasury yields propelling it over the pivotal $1,800/oz level once again. Spot gold advanced 1.5% to $1,812.04/oz by noon ET, having reached an intraday high of $1,817.39/oz earlier in the session. US gold futures gained 1.7% to $1,815.10/oz on the Comex in New York. US 10-year Treasury yields continued to slip on Thursday, bolstering the appeal of non-yielding bullion. The dollar index also fell 0.4%, making bullion more attractive for those holding… Read More Here

Battery Metals Cobalt Copper Energy International Lithium Mining in DRC Nickel

Metals price rally could hamper switch to green energy — IEA

May 6, 2021May 6, 2021 admin

Soaring metals prices may be good for miners, but they put at risk the ongoing transition to clean energy as batteries, solar panels and wind turbines need considerable amounts of copper, nickel, cobalt, lithium and other minerals to be manufactured, a new report warns. According to The International Energy Agency (IEA), reaching the goals of the Paris climate agreement would result in a quadrupling mineral demand by 2040. Yet a lack of investment in new mines could substantially raise the costs of clean energy technologies, the IEA said on Wednesday. “The… Read More Here

Gold International

Gold price inches higher as US yields retreat

May 6, 2021May 6, 2021 admin

Gold prices inched higher on Wednesday as US Treasury yield retreated from a session high while the dollar hovers near a two-week peak. Spot gold saw a slight gain of 0.2% to $1,783.87 per ounce by 1 p.m. ET. US gold futures rose 0.4% to $1,783.90 per ounce in New York. “Treasuries are coming in line a little bit so you’re getting a bounce in gold,” Bob Haberkorn, senior market strategist at RJO Futures, told Reuters. Higher yields threaten gold’s appeal as an inflation hedge as they increase the opportunity cost of… Read More Here

Copper International

Copper price could spike to $13,000 on low stocks – BofA

May 5, 2021May 5, 2021 admin

Copper prices climbed back towards $10,000 per tonne on Tuesday, supported by prospects for higher demand while inventories dwindle. Last Thursday, the copper price topped $10,000 a tonne for the first time since 2011, nearing the all-time high set that year. Copper for delivery in July was down 0.3% by 12:57 pm (EDT) on Tuesday, with futures at $4.5230 per pound ($9,950 a tonne) on the Comex market in New York. “It’s a tremendously positive story for copper at the moment and in the long term,” WisdomTree analyst Nitesh Shah told Reuters.… Read More Here

Copper International

Copper price keeps soaring while ICSG predicts 79,000 tonnes surplus in 2021

May 4, 2021May 4, 2021 admin

The global copper market should see a surplus of 79,000 tonnes this year and of 109,000 tonnes in 2022, the International Copper Study Group (ICSG) said on Monday. “After three years of remaining essentially unchanged, world copper mine production, adjusted for historical disruption factors, is expected to increase by about 3.5% in 2021 and 3.7% in 2022,” ICSG said in a press release. “In 2021, global output is expected to recover from 2020 constrained levels and benefit from increased supply resulting from the ramp-up of recently commissioned mines,” ICSG said. Major projects… Read More Here

Mining Supply Tenders International

Murray & Roberts lands R2bn mining contract in Australia

May 3, 2021February 15, 2026 admin

Engineering group Murray & Roberts (M&R) has secured a R2.3bn mining contract in Australia. M&R announced on Monday that its subsidiary, RUC Cementation Mining Contractors, had secured the tender at Newmont Corporation, the world’s largest gold producer. RUC is a diversified underground mining contractor operating throughout Australia and Asia Pacific. “Capital investment in the mining sector continues mainly in brownfield expansions, although it is expected that investment in new mines will return from mid-2021 onwards,” the company said in a statement. M&R CEO Henry Laas told Business Day the contract… Read More Here

Mining Supply Tenders International

Swedish Stirling wins $49M Glencore contract

April 30, 2021May 2, 2021 admin

Clean-tech power generation company Swedish Stirling has secured an 8-year, R700 million (US$49 million) contract with Glencore to deliver 25 of its 10MW engines to power the Merafe Lion ferrochrome smelter in South Africa. Swedish Stirling will provide the 25 PWR BLOK 400-Fs engines under an energy conversion service agreement that is estimated to offset carbon dioxide emissions from the Lion smelter by over 500,000 tonnes. “The Lion smelter is one of the world’s largest ferrochrome smelters. For Swedish Stirling, this development is recognition that the PWR BLOK is a… Read More Here