International - Copperbelt Katanga Mining

Gold drops as dollar strengthens, traders focus on bond auctions

March 22, 2021March 22, 2021 admin

Gold declined as the dollar remained resilient and 10-year Treasury yields held near the highest level in more than a year, weighing on the precious metal which doesn’t offer interest. Investors will turn their attention to a heavy slate of bond auctions focused in maturities that have gotten pummeled amid a brightening outlook for growth and inflation. Federal Reserve chairman Jerome Powell reiterated in a Wall Street Journal editorial that the central bank will continue to provide aid to the economy “for as long as it takes” as the recovery is far… Read More Here

Gold International

Gold price retreats as yields climb after Fed meeting

March 19, 2021March 19, 2021 admin

Gold prices reversed course on Thursday, dropping from a more than two-week high, as bullion’s appeal continues to be tarnished by climbing US Treasury yields and a firmer dollar. Spot gold fell 1.1% to $1,728.96 per ounce by noon EST, while US gold futures for April delivery held steady at $1,728.80 per ounce. Meanwhile, the benchmark US 10-year Treasury yield rose to 1.74% for the first time since January 2020, helping to lift the dollar from a two-week low. The US Federal Reserve on Wednesday said the US economy was on… Read More Here

Mining Supply Tenders International

Metso Outotec wins €10M comminution order for Côté Gold

March 19, 2021March 19, 2021 admin

Finnish mining equipment maker Metso Outotec has secured a €10 million (US$11.9 million) order for grinding mills and a cone crusher for the Côté Gold Project being launched in northern Ontario by Canadian producer Iamgold and Japanese miner Sumitomo Metal Mining. Metso Outotec will deliver two Vertimill 4500 grinding mills and one MP1250 cone crusher for the Côté Gold Project – no detail was given on the timeframe. “Low energy and wear part consumption as well as process flexibility were decisive factors for the Côté Gold Project team when selecting… Read More Here

Copper International

Copper price up on strong demand outlook and supply disruptions

March 18, 2021March 18, 2021 admin

Copper prices rose on Wednesday as a bright demand outlook and supply disruptions in some South American mines offset pressure from rising inventories. Copper for delivery in May was up 0.91% by midday, with futures touching $4.1055 per pound ($9,031 a tonne) on the Comex market in New York. Three-month copper on the London Metal Exchange rose 0.8% to $9,028 a tonne, while the most-traded May copper contract on the Shanghai Futures Exchange closed down 0.7% at 66,940 yuan ($10,298.46) a tonne. WAGE TALKS WITH UNIONS REMAIN UNRESOLVED, ANTOFAGASTA REPORTED… Read More Here

Equipment & Technology International

Metso Outotec adds crusher to Nordtrack range

March 18, 2021March 18, 2021 admin

Finnish manufacturer of mining equipment Metso Outotec has added a new impact crusher and screen to its Nordtrack mobile crushing and screening range that both target smaller operations. The Nordtrack I908 mobile impact crusher is optimised for the smaller-sized material reduction job sites, and it accepts different kinds of feed material as well as traditional rock crushing, said the company. The new screen, the Nordtrack S2.5, mobile screen is also designed for small job sites, said the company. “We are always listening carefully to customer feedback. These two new products… Read More Here

Gold International

Gold producing countries

March 17, 2021March 17, 2021 admin

World output of gold in 2019 showed the first decline in a decade, falling by 28 metric tonnes to 3,533 tonnes or 113.6 million troy ounces. The decline came after relentless growth in primary gold production – 730 tonnes or 23.5m ounces since 2010, according to London-based mining and metals consultants Metals Focus and the World Gold Council. China is in danger of losing its no 1 ranking over the next few years – the country lost 20 tonnes of production while Russia added 34 tonnes or 1.1m ounces in a single year,… Read More Here

Battery Metals Cobalt International

Electric cars will cost more using ethically sourced batteries

March 16, 2021March 16, 2021 admin

The European Union’s efforts to ethically source a key battery metal face headwinds that could make it more expensive for automakers to go electric. Cobalt is the battery metal at the highest risk of being exploited in ways that damage the health of people and the environment. Most of the world’s supply comes from the Democratic Republic of Congo, with as much as a third of that supplied by small-scale miners who often work in dangerous conditions. Regulators have begun developing rules designed to help industry avoid damaging its reputation. But those “ambitious requirements… Read More Here

Battery Metals Cobalt International Mining in DRC

Spike in electric vehicle sales drives cobalt price hike

March 15, 2021March 15, 2021 admin

Demand and prices for battery material cobalt are soaring as electric vehicles stream out of showrooms in China and Europe, with little prospect of a significant reversal as drivers and governments move to cut carbon emissions, reports Reuters. Payables – a reference to the percentage of the cobalt metal price used to price hydroxide, a feedstock for electric vehicle (EV) batteries – are up at around 93-94% from about 63-69% a year ago, analysts from Benchmark Mineral Intelligence said. “Primarily the price rise has been driven by real demand, largely… Read More Here

Copper International

Copper price rises on demand hopes

March 11, 2021March 11, 2021 admin

Copper futures advanced in London and New York on Wednesday on hopes of rising demand, but prices in Shanghai fell on fears of policy tightening by top consumer China. Copper for delivery in May was up 0.52% midday Wednesday, at $4.028 per pound ($8,861 a tonne) on the Comex market in New York. Three-month copper on the London Metal Exchange advanced 0.5% to $8,822 a tonne, while the most-traded April copper contract on the Shanghai Futures Exchange ended down 1.9% at 65,330 yuan a tonne. “Metals are hostage to large… Read More Here

Gold International

Gold price returns above $1,700 in ‘short-term bounce’

March 10, 2021March 10, 2021 admin

Gold price rebounded above the $1,700 level on Tuesday, as it gained respite from a retreat in US Treasury yields and the dollar following a slide to a 10-month low in the last session. Spot gold rose 1.8% to $1,714.89 per ounce by 11:25 a.m. EST, but was still trading near its lowest since early June 2020. US gold gained 2.1% to $1,713.70 per ounce in New York. “Given the metal’s zero-yielding nature, falling yields may provide a tailwind for bulls to elevate prices higher,” Lukman Otunuga, senior research analyst at… Read More Here