International - Copperbelt Katanga Mining

Epiroc expects stable post-COVID-19 demand

April 30, 2021April 30, 2021 admin

Swedish mining equipment maker Epiroc has projected stable post-pandemic demand, citing positive customer sentiment towards its equipment and autonomous solutions in the mining sector during the first quarter of 2021. Orders received rose 9% to SK10.6 billion (US$1.2 billion), an organic increase of 21%. Meanwhile, revenues fell 4% to SK8.7 billion (US$1 billion), but this represented an organic increase of 6%. The company in March purchased Meglab, a Canadian company with expertise in providing electrification infrastructure solutions to the mining industry. In April it also announced the acquisition of DandA Heavy… Read More Here

Copper International

Copper price tops $10,000 a tonne for first time in ten years

April 30, 2021April 30, 2021 admin

Copper topped $10,000 a tonne for the first time since 2011, nearing the all-time high set that year as rebounding economies stoke demand and mines struggle to keep up. Prices rose as much as 1.3% to $10,008 a tonne on the London Metal Exchange, before slipping back to trade near unchanged. The metal hit a record $10,190 in February 2011. Copper for delivery in May was down 0.3% midday Thursday, with futures at $4.4860 per pound ($9,8615 a tonne) on the Comex market in New York. Analyst at CRU Group… Read More Here

Gold International

Lessons From the Last Gold Bull Market

April 30, 2021April 30, 2021 admin

In a cyclical industry such as gold mining, it seems simple to practice the concept of “buy low, sell high”. However, it always seems that M&A activity in the gold sector mirrors the gold price, peaking when prices are highest. Of course, buying low is not as simple as it sounds, as when gold is in a bear market, cash flow tightens, debt financing becomes harder to obtain and conservatism creeps into strategic forecasts. When gold enters a bull market and companies have the money and motivation to acquire new… Read More Here

Copper International Lithium Oil & Gas

Copper And Lithium Compete For The Title Of ‘New Oil’

April 30, 2021April 30, 2021 admin

Oil remains king of the energy sector, for now, but there’s a conga line of pretenders poised to claim the crown including copper which Goldman Sachs hailed last week as “the new oil”. The reasoning of analysts at the investment bank is that copper will play a key role in the rush to replace vehicles with internal combustion engines with electric vehicles (EVs) as well as being essential in everything else which uses electricity. Whether it’s going too far to award copper the title of commodity king is debatable, but… Read More Here

Equipment & Technology International Mining Supply Tenders

Rio orders Epiroc’s autonomous drills for the Pilbara

April 29, 2021April 29, 2021 admin

Swedish mining equipment maker Epiroc has won a SK130 million (US$15.4 million) order from Rio Tinto for autonomous drilling systems to be used at Rio’s iron ore operations in the Pilbara, Australia. Rio Tinto has ordered “several” Pit Viper 271 and SmartROC D65 blast-hole drill rigs, Epiroc said without giving exact fleet numbers. “Rio Tinto is a long-standing customer of Epiroc that is highly focused on innovation and sustainability. Epiroc is proud to be able to support the company on its continuous journey toward higher productivity and optimal safety,” says… Read More Here

Copper International

Copper price flies high, but further out forecasts are grim

April 28, 2021April 28, 2021 admin

Copper was once again approaching the pivotal $10,000 a tonne level on Tuesday, jumping to over $4.50 a pound or $9,940 a tonne in New York amid über bullish sentiment and renewed supply worries in the world’s top producing region. The rally in copper, which has more than doubled in price from its covid-lows, has been fuelled by a widely-held belief that demand for the bellwether metal will receive a massive boost, not just from post-pandemic economic stimulus, but also from a worldwide push for decarbonisation. Everything to do with the green… Read More Here

Mining in DRC International Mining in Zambia

Commodity super-cycle to keep lid on resource nationalism- Anglo American

April 27, 2021April 27, 2021 admin

THE improvement in commodity prices would keep the lid on corporate tax rate increases and other fiscal measures – sometimes known as resource nationalism -, especially among developing economies, said Anglo American today. “The strength in commodity prices actually bodes well for tax authorities because for mining companies increased earnings flow directly through to increased income tax very quickly,” said Stephen Pearce, the group’s CFO. “If anything, some of the more developed countries have moved quicker in increasing taxes,” he said. This contrasts with the view of Glencore CEO, Ivan Glasenberg who… Read More Here

Copper International

Copper jumps to highest since 2011 as demand bets reignite rally

April 26, 2021April 26, 2021 admin

Copper surged to the highest in a decade on expectations supply will tighten as the global economic recovery gains traction. Prices have climbed amid a broad rally across industrial commodities from iron-ore to aluminum. Economic bellwether copper has been boosted by prospects for rebounding growth as the global vaccine rollout gathers paces, the dollar weakens, and on expectations that a years-long era of low inflation in major economies may be coming to an end. The metal’s integral role in the green-energy transition is further fanning expectations that the rally will… Read More Here

International Mining Policy

Uganda considering a new law allowing gov’t stakes in private mining companies

April 22, 2021April 22, 2021 admin

As early as this week, Uganda’s Parliament could consider a cabinet-approved draft mining law allowing the government to buy stakes in private mining companies. According to reports, the draft mining law could impose harsh penalties for violations in the sector, including prison terms of up to seven years, citing a statement by the country’s junior energy and minerals minister, Sarah Opendi. According to Opendi, the draft law allows for “state equity involvement in big, medium, and small scale mining up to a limit of 15 per cent.” Media reports said… Read More Here

Copper International

Copper extends rally while China looks to stabilise raw material prices

April 22, 2021April 22, 2021 admin

Copper prices rose on Wednesday nearing February’s peak of $9,617, the highest since 2011. Copper for delivery in May was up 1.41% in afternoon trade, with futures at $4.2725 per pound ($9,3995 a tonne) on the Comex market in New York. Copper is right now still heavily reliant on the Chinese cycle and the world’s largest buyer is making it very clear that it doesn’t want raw material prices to rise any further. China’s industry ministry said on Tuesday the country will take steps to stabilise prices and strengthen supervision of the market after a spike… Read More Here