International - Copperbelt Katanga Mining

Weak lithium prices could slow EV revolution – Albemarle

January 14, 2021January 14, 2021 admin

Global supplies of lithium used to make electric vehicle (EV) batteries will fall short of projections for demand to more than triple by 2025 if prices do not rebound to fund expansions, an executive at industry leader Albemarle Corp said on Tuesday The warning laid bare the tension emerging in the EV industry between the companies that supply the lithium crucial for battery development and automakers who are hunting for discounts. Prices for lithium dropped last year due in part to the coronavirus pandemic, forcing Albemarle and peers to pause expansions,… Read More Here

First Cobalt signs supply deal with Glencore, eyes China Moly contract

January 13, 2021January 13, 2021 admin

First Cobalt Corp said on Tuesday it signed a deal with Glencore and has agreed a tentative pact with a unit of China Molybdenum Ltd for cobalt supplies from the Democratic Republic of the Congo. The agreements come after First Cobalt last month secured C$10 million in government loans and grants to accelerate startup and expansion of North America’s first cobalt refinery in the Canadian province of Ontario. The DRC is the world’s top producer of cobalt, a crucial ingredient for the lithium-ion batteries that underpin the fast-growing electric vehicle sector. Toronto-based… Read More Here

Gold International

Gold price rally of 2020 crushes analyst forecasts

January 12, 2021January 12, 2021 admin

Gold had a monumental 2020 as bullion soared to multiple record highs throughout the year amid the economic uncertainties brought by the covid-19 pandemic, which helped to cap off its best annual performance in a decade. During the past calendar year, gold prices traded at an average of $1,769.59/oz, well exceeding what most analysts were forecasting in mid-January. According to the London Bullion Market Association’s (LBMA) annual precious metals forecast competition, analysts were forecasting the gold price to be $1,558.8/oz on average, an increase of 12% from the average price in… Read More Here

Gold International

Equinox tops guidance in year of ‘tremendous growth’

January 12, 2021January 12, 2021 admin

Growing miner Equinox Gold beat its revised 2020 production guidance and churned out 477,200 gold ounces last year. With 136,400 oz. generated in the fourth quarter, the company exceeded its prior forecast of 425,000 to 465,000 oz. for the year. The 2020 production numbers include gold poured during the ramp-up and commissioning of the Castle Mountain open pit mine in California, which reached commercial production on Nov. 23. All-in sustaining costs are expected to fall within the guidance range of $975 to $1,025 per oz. “Equinox Gold had another year… Read More Here

Gold International

Gold edges up from six-week low as equities cool off

January 11, 2021January 11, 2021 admin

Gold on Monday bounced off a six-week trough as a rally in equities stalled, though gains were capped by a stronger dollar and higher US Treasury yields. Spot gold was up 0.1% at $1 849.64 per ounce by 10:39 GMT, after touching its lowest since December 2 at $1 816.53. Gold last week recorded its biggest percentage fall since late November. US gold futures gained 0.8% to $1 849.70. “Some investors are taking a pause on other markets, and this is supportive for gold,” said ActivTrades chief analyst Carlo Alberto De… Read More Here

Cobalt International Mining in DRC

Global cobalt production capacity expected to be cash positive in 2021 – report

January 11, 2021January 11, 2021 admin

Market analyst Roskill forecasts that cobalt’s all-in sustaining cost of production will fall by around 2% y-o-y in 2021, from $23,085/t to $22,600t. In a recent report, Roskill explains that, as a result of this prediction, it estimates that over 98% of cobalt production capacity will be cash positive on an AISC basis, based on cobalt price circa $39,700/t. In the market analyst’s view, all cost centres except processing and site G&A will decrease on an average industry-wide aggregated basis in 2021. The remainder combined are expected to decrease by $1,329/t,… Read More Here

Gold International

Gold price loses momentum with US runoffs in focus

January 7, 2021January 7, 2021 admin

Gold prices declined from a near eight-week high on Wednesday as investors await the outcome of US Senate runoff elections in Georgia, which could affect the prospects for more fiscal stimulus, and thus for gold. Spot gold fell 2.2% to $1,905.30 per ounce by 11:50 a.m. EST, having gone as high as $1,958.90 per ounce earlier in the session. US gold futures were down 2.4% in New York. Meanwhile, the US dollar recovered from earlier losses, causing bullion’s new year rally to lose momentum. “We have seen a small bounce… Read More Here

Copper International

Copper price hits new high as covid cases sweep South America

January 7, 2021January 7, 2021 admin

Copper prices continued their momentum from the second half of 2020 as the second wave of coronavirus infections intensifies in South America, the world’s top copper-producing region. Copper futures for March delivery advanced 0.3% to $3.652 per pound on the Comex, surpassing a near eight-year high set in December. Copper prices have rallied over recent months as demand for the bellwether metal grows on the back of fiscal stimulus hopes and recovery in industrial activities, but rising covid-19 cases and lockdowns have also caused a supply crunch for the most traded… Read More Here

Gold International

Gold rises to eight-week high

January 6, 2021January 6, 2021 admin

Gold rose to an eight-week high aided by a weaker dollar and lower real rates, as investors awaited the outcome of elections in Georgia that will determine control of the Senate and President-elect Joe Biden’s agenda. Bullion could benefit if Democrats win the two seats in the runoff contest as it would mean an easier path to approving more fiscal stimulus, according to Credit Suisse Group analyst Fahad Tariq. Polls in the state closed amid record-breaking turnout, but there is a chance the winners will not be determined for days, or even weeks,… Read More Here

Mining Companies International

Sandvik to buy DSI Underground for €943M

January 6, 2021January 6, 2021 admin

Swedish mining engineering company Sandvik plans to acquire German tunnelling technologies company DSI Underground for €943 million (US$1.1 billion) in cash. Sandvik said the purchase of the safety solutions company from its owner, investment firm Triton, would improve its underground product offerings. Sandvik has signed an agreement to acquire DSI Underground, a global leader in ground support and reinforcement products, systems and solutions for the underground mining and tunneling industries from Triton. The company will be included with reporting from the Sandvik Mining and Rock Solutions unit. “This acquisition is… Read More Here