International - Copperbelt Katanga Mining

Copper price rally slows ahead of Chinese holiday

February 12, 2021February 12, 2021 admin

Copper prices eased on Thursday as Chinese markets closed for the week-long Lunar New Year holiday after four days of rapid gains that lifted prices to their highest in eight years. On the Comex market, copper for delivery in March fell by 0.59% to $3.7500 a pound ($8,250 a tonne). Benchmark copper on the London Metal Exchange (LME) was down 0.1% at $8,289.50 a tonne in official trading. Many analysts forecast a multi-year bull run as demand outpaces supply, with investors weighing prospects for a fast-tracked stimulus package in the US. “THE… Read More Here

Energy International

EV metals index beats record by 54% as electric cars reach tipping point

February 11, 2021February 11, 2021 admin

The global vehicle market in 2020 had its worst year in decades. European sales were the lowest since 1985, 15% fewer cars left US showrooms and while the decline in China was in single digits, it was the third down year in a row for the world’s largest car market. But 2020 turned out to be a breakthrough year for electric cars, particularly in the two largest markets. EU sales doubled to 1.3 million with penetration reaching a stunning 19% during the final quarter, just eclipsing sales figures in China for… Read More Here

International

Copper hits eight-year high at $ 8,190 per tonne

February 10, 2021February 10, 2021 admin

Copper prices rose again on Tuesday as investors weighed in on the prospects of an accelerated stimulus package in the United States. On the Comex market, copper delivered in March rose 1.5% to $ 3.723 per pound ($ 8,190 per tonne). If it closes at these levels, it would be the highest since February 2013. The metal rallied in hopes that the economic recovery in the United States will further stimulate demand, and underpinned by declining Chinese stocks for the past decade. House Democrats on Monday released the first draft for… Read More Here

Gold International

Equinox expects production growth in 2021, eyes 1moz by 2023

February 10, 2021February 10, 2021 admin

Over the next three years, Equinox Gold expects to continue with its trend of growing gold output, reaching the 1 million oz. annual output level by 2023. The gold producer has provided 2021 guidance, with 600,000 to 665,000 oz. expected this year at all-in sustaining costs of $1,190 to $1,275 per oz. The production numbers represent a 33% increase over the 477,200 oz. generated last year and do not include any contributions from the C$612 million Premier Gold Mines acquisition, announced in December and expected to close in March “2021 represents… Read More Here

Copper International

Copper price rally resumes on US stimulus, decade low China stocks

February 9, 2021February 9, 2021 admin

Copper prices rose on Monday as optimism around a US stimulus raised hopes of higher demand for metals and a recovery in the world’s biggest economy. The copper price rose as much as 1.3% to $3.6745 ($8,100 a tonne) on the Comex market on Monday, with March delivery contracts back within shouting distance of multi-year highs hit early in January. The metal has rallied nearly 90% since the depth of the pandemic in March. Stimulus support Commodities including copper and gold are finding supportive sentiment from US Treasury Secretary Janet Yellen “talking… Read More Here

Gold International

Gold prices rise on hopes of recovery in the United States of America

February 9, 2021February 9, 2021 admin

Gold prices surged higher on Monday as investor attention shifted back to the prospect of a substantial US stimulus package, which made bullion more attractive as a hedge against inflation. Spot gold continued to rebound from last week’s slowdown, rising 1.2% to $ 1,834.05 an ounce at 11:35 a.m. EST. US gold futures also rose 1.4% to $ 1,839.20 an ounce in New York. “Gold is getting its strength from renewed optimism about US stimulus packages and rising inflation expectations,” Lukman Otunuga, senior research analyst at FXTM, told Reuters. “The metal… Read More Here

Gold International

Gold price drops below $ 1,800, its lowest level in 2 months

February 5, 2021February 5, 2021 admin

Spot gold fell below $ 1,800 / oz for the first time since late November, down 2.5% to $ 1,787.95 / oz at 11:30 am EST. US gold futures also fell 2.5% to $ 1,788.60 an ounce in New York. Meanwhile, silver, the sister metal of gold, also fell – falling 2.9% to $ 26.13 / oz – with the market facing a correction following the fueled retail buying frenzy. by Reddit which propelled prices to an 8-year high earlier this week. “This flight to money by some retail investors has… Read More Here

Energy International

Aggreko to make big investments to back miners’ clean energy transition

February 4, 2021February 4, 2021 admin

Aggreko (LSE: AGK), a supplier of mobile, modular power generation equipment, announced that it is partnering with some big names in the mining industry to reach net-zero emissions by 2050. In a press release, the Scottish company said it has vowed to invest between $342 million and $470 million per year to support its energy transition, including big spends in bringing solar, wind, and natural gas to mine sites. “Power generation for our customers has become more complex, and Aggreko has a responsibility to create power that is healthier for the… Read More Here

Iron Ore International

Iron ore price bounces back after sharp fall

February 4, 2021February 4, 2021 admin

Iron ore prices bounced on Wednesday after analysts at Credit Suisse and Morgan Stanley offered bullish forecasts for the steelmaking raw material. According to Fastmarkets MB, benchmark 62% Fe fines imported into Northern China (CFR Qingdao) were changing hands for $152.65 a tonne, up nearly 2% from Tuesday’s trade. Iron ore reached its highest level since September 2011 in mid-January, but has since declined 12% on expectations of normalizing supply from Vale, the world’s top producer, and a cooldown in record-setting demand from China. Credit Suisse, in a note quoted… Read More Here

Diamond International

Anglo American says De Beers’ diamond sales exceed pre-pandemic levels

February 3, 2021February 3, 2021 admin

Miner Anglo American said on Wednesday its diamond unit recorded higher sales in the first cycle of 2021, boosted by robust demand ahead of the Chinese New Year and Valentine’s Day. The upbeat report comes at a time when the diamond industry has been struggling with falling sales and prices as the COVID-19 pandemic hammered demand and the ensuing lockdowns prevented buyers from travelling to auction sites. “While risks to recovery as a result of ongoing restrictions on the movement of both people and goods persist, we have been encouraged… Read More Here