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Category: International

Ex-Anglo CEO appointed to Glencore board 1 International Mining Personality 

Ex-Anglo CEO appointed to Glencore board

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Cynthia Carroll, the former CEO of Anglo American, has been appointed to the board of diversified mining and marketing company Glencore. Carroll would join the board with immediate effect and would serve as a non executive director, the Swiss-based group announced on Tuesday. “The directors are very pleased to welcome Cynthia Carroll to our board. She has extensive knowledge of the resources industry, as well as strong nonexecutive director experience,” said chairperson Tony Hayward. Carroll has more than 30 years’ experience in the resources sector. She began her career as an… Read More Here
Worley wins two-year North Sea EPC contract with CNOOC 2 International 

Worley wins two-year North Sea EPC contract with CNOOC

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China National Offshore Oil Company (CNOOC) has awarded a two-year North Sea contract to engineering services firm Worley. The engineering construction and procurement (EPC) services deal covers the Buzzard, Golden Eagle and Scott platforms. Worley, which is headquartered in Australia, will carry out the work from its Aberdeeen office, with support from the Global Integrated Delivery team. Chief executive Chris Ashton said: “We are pleased that CNOOC Europe has selected Worley to continue supporting its North Sea assets. “With our strategic focus on sustainability and delivering a more sustainable world,… Read More Here
Global gold output to rise 5.5% in 2021 – report 3 Gold International 

Global gold output to rise 5.5% in 2021 – report

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After declining in 2019, global gold production was adversely affected by the covid-19 pandemic during 2020, while the suspension of expansion works and contractions from mines nearing closure also exacerbated the decline. Overall output in 2020 was estimated to have declined by 5.2% to 108 million ounces (moz), according to UK-based analytics company GlobalData. This year, however, total production is expected to bounce back and increase by 5.5% to 113.9moz and then grow to 124.1moz by 2024 – a 2.9% compound annual growth rate (CAGR). Indonesia, Peru and the US will… Read More Here
Glencore inks “ethical cobalt” deal with FREYR 4 Cobalt International Mining in DRC 

Glencore inks “ethical cobalt” deal with FREYR

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Miner and commodities trader Glencore (LON: GLEN) has inked a preliminary deal with Norwegian battery producer FREYR to supply 3,700 tonnes of “ethically sourced” cobalt metal cut cathodes. The cobalt, which will be produced at the Swiss company’s Nikkleverk facility in Norway, will be a core component in FREYR’s lithium-ion battery (LIB) cells to be produced at planned facilities in the town of Mo i Rana. The supply agreement builds on a memorandum of understanding (MOU) the companies signed in December, covering joint research and development projects. That document outlined combined steps towards… Read More Here
Miners think local with adoption of new procurement standard 5 Mining in DRC International 

Miners think local with adoption of new procurement standard

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Mining Shared Value, a non-profit initiative of Engineers Without Borders has announced that four mining companies have now adopted the Mining Local Procurement Reporting Mechanism (LPRM), with two more planing to do so shortly. The LPRM is a publicly available information sharing framework that was created by MSV in partnership with the German development agency GIZ, to increase and standardize information on mine site level local procurement processes and results. Procurement of goods and services is the single largest payment made in-country by virtually all mine sites, though for mining governance it… Read More Here
Tesla hit by battery shortage amid rallying lithium, cobalt, nickel prices 6 Battery Metals International 

Tesla hit by battery shortage amid rallying lithium, cobalt, nickel prices

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In a call to investors following disappointing financial results released Wednesday, CEO Elon Musk says Tesla doesn’t have enough cells to put new products like Semi truck into production.  “Prototypes are easy. Scaling production is very hard.  “The main reason we have not accelerated new products like the Tesla Semi is that we simply don’t have enough cells built. We could easily go into the production of the Semi, but we don’t have enough cells for it right now.”   Musk said while the Semi does not cost five times more… Read More Here
Copper price in slump, hits one-month low 7 Copper International 

Copper price in slump, hits one-month low

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Copper prices continued to slump on Friday, hitting their lowest point of the month amid a global sell-off in equities and a firmer US dollar, which made greenback-priced metals less appealing to holders of other currencies. Copper futures on the Comex were down 0.2% to $3.57 a pound (or about $7,780.54 a tonne) by noon EST. Elsewhere, the most actively traded March copper contract on the Shanghai Futures Exchange fell 1.4% to 58,000 yuan ($9,023.45) per tonne, after falling as much as 2% earlier. Weaker equities also hurt risk sentiment across asset… Read More Here
Gold price set for worst January in 10 years 8 Gold International 

Gold price set for worst January in 10 years

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Gold prices opened in the red on Thursday after the US Federal Reserve kept its monetary policy unchanged without promising any more aid, supporting the dollar as the preferred safe haven asset. Investor sentiment reversed later in the session as bullion recovered from earlier losses. Spot gold was up 0.5% to $1,853.65 an ounce by 11:40 a.m. EST, while US gold futures gained 0.3% and traded at $1,851.10 an ounce. Nevertheless, the precious metal has lost about 2.8% so far this month, on course for its worst January performance since… Read More Here
Anglo American H2 production back up to 95% 9 International 

Anglo American H2 production back up to 95%

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Anglo American plc (LSE: AAL.L) copper production increased by 6% to 167,800 tonnes in Q4, compared to 158,800 tonnes in Q4 2019, largely due to secured access to industrial water at Los Bronces copper mine in Chile, the company reported on Thursday. Production at Los Bronces increased by 34% to 95,900 t for the quarter. Collahuasi mine in Chile delivered record production for the 12-month period, with 276,900 tonnes, which more than offset planned maintenance in the quarter.  Anglo reported total copper production of 647,400 in 2020, 1% higher than 2019 (638,000). The… Read More Here
Gold price dips ahead of US policy decision 10 Gold International 

Gold price dips ahead of US policy decision

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Gold prices eased on Tuesday as a slightly firmer dollar and uncertainty over a US stimulus package kept bullion in check, with investors awaiting cues on future monetary policy decisions from the US Federal Reserve. Spot gold fell slightly by 0.1% to $1,853.21 an ounce as of 11:30 a.m. EST but held above the $1,850 an ounce level. US gold futures also dipped 0.1% to $1,852.80 per ounce. ″(Gold) is waiting for the Fed, it is waiting for a solid thing to emerge and as long as we continue to… Read More Here

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