International - Copperbelt Katanga Mining

Steelmakers set to lead India metals to best quarter in decade 1

India’s steelmakers are on course to leading the country’s metal index to its biggest quarterly gain in more than a decade, as consumption recovers and prices surge globally. The S&P BSE Metal Index has surged by around a third so far in the three months through December, jumping the most since the quarter ended June 2009. Metal companies are in an earnings upcycle after two years of downgrades, and steel demand and pricing has improved sharply, according to a Jefferies Group LLC report this month. Shares of the country’s oldest… Read More Here

Gold International

Gold prices stabilize on the international market at 1,882 USD per ounce

December 26, 2020December 26, 2020 arnbethnic

Gold prices have stabilized and most base metals were higher in enlightened trading during the holidays, with investors assessing the latest developments in a covid-19 relief plan in the United States and announcing final of a post-Brexit trade agreement. Spot gold edged up 0.3% to $ 1,879.40 an ounce, while US gold futures rose 0.2% to $ 1,882.70 an ounce . On Thursday, the UK and the European Union finalized their landmark post-Brexit trade deal, avoiding the threat of an acrimonious breakup. Meanwhile, House Republicans have blocked Democrats’ attempt to… Read More Here

International Iron Ore

Iron ore price frenzy grips China’s mammoth steel sector

December 24, 2020December 24, 2020 admin

Prices for iron ore have more than doubled in 2020, putting the steelmaking raw material on track to be the top-performing major commodity globally for a second straight year as speculative money floods in and Chinese demand holds firm. Steelmakers in China, the world’s biggest producer of the metal, and the operator of its flagship iron ore futures contract have called for a probe into what they say is an “abnormal” price rally that has eroded their margins. The most active iron ore futures on the Dalian Commodity Exchange have… Read More Here

Gold International

Gold price edges higher on weaker US dollar

December 23, 2020December 23, 2020 admin

Gold prices edged higher on Wednesday, bolstered by a weaker dollar, while investors kept hopes pinned on a US stimulus package, even after President Donald Trump threatened to not sign the relief bill. Spot gold was up 0.7% at $1,872.67 per ounce by 12:55 p.m. EST, having risen as much as 1% earlier in the day. Meanwhile, US gold futures rose 0.4% to $1,877.50 per ounce in New York. “The economic data just cements the belief that the economy is slowing down and that should help the negotiations with stimulus… Read More Here

International Mining Companies

Epiroc to acquire mine productivity software company

December 23, 2020December 23, 2020 admin

Swedish mining engineering company Epiroc plans to acquire South African mine planning, execution and analytics software company MineRP. Epiroc said MineRP’s software platform, which supports large and medium-sized mines globally in optimizing operational efficiency, would strengthen its digitalisation offering. Financial details of the deal were not disclosed “This acquisition fits well into Epiroc’s focus on supporting mining companies on their digitalisation journey. The combination of MineRP’s platform capabilities with Epiroc’s digital solutions, partners and global presence has the potential to transform the way that mines operate,” said Helena Hedblom, Epiroc’s… Read More Here

International Mining in DRC

First Cobalt gets C$10m government boost to refinery

December 23, 2020December 23, 2020 admin

First Cobalt (TSXV: FCC; US-OTC: FTSSF) has secured C$10 million ($7.8m) in government funding that will allow it to accelerate the development of its cobalt refinery in Ontario, 600 kilometers from the US border. Under the funding arrangement, the Canadian federal government has agreed to provide a C$5 million interest-free loan to the company, while the government of Ontario will give a C$5 million non-repayable grant. “I can’t say enough about the level of support that has been provided to us, with 100% of the proceeds to be put into the… Read More Here

Copper International

Copper price powers on

December 21, 2020December 21, 2020 admin

Copper prices jumped to the highest since February 2013 on Friday on hopes that economic stimulus in the US will further boost demand for the bellwether metal, already in short supply amid an Asian factory and construction boom. The US Congress is facing down a midnight deadline to pass a relief measure as part of a massive government spending bill, which would be the largest in history after the $2.2 trillion Cares Act, passed in late March. On the Comex market, copper for delivery in March advanced 1.2% to $3.6445 a pound in… Read More Here

Gold International

Gold price climbs on US stimulus agreement

December 21, 2020December 21, 2020 admin

Gold prices climbed to a six-week high on Monday, driven by news that US congressional leaders reached an agreement on a $900 billion covid-19 relief bill. Meanwhile, pandemic lockdowns in the UK soured appetites for riskier assets and lent further support for bullion. Spot gold advanced 0.5% to $1,877.14 per ounce by 1 p.m. EST, having surpassed $1,900 earlier in the day. US gold futures held steady at $1,886.40 per ounce. “Now that we’ve got fiscal stimulus behind us, gold has enough momentum to close above $1,900 by year-end and it could… Read More Here

Copper International

Global copper output to grow over the next decade – report

December 21, 2020December 21, 2020 admin

A report by Fitch Solutions forecasts global copper mine production to increase by an average annual rate of 3.7% over 2021-2029, with total output rising from 21.5mnt to 27.8mnt over the same period. Year-on-year, the market analyst sees production of the red metal expanding 6.9% as a result of multiple new projects coming online and low-base effects due to covid-19 lockdowns reducing output in 2020. Leading this growth is Chile, where BHP’s (ASX, LON, NYSE: BHP) Spence Growth Option project is expected to deliver first production between December 2020 and March 2021.… Read More Here

Coal International

Coal sales to rebound with first gains in years in US, Europe

December 19, 2020December 21, 2020 admin

Global coal demand is poised to rebound next year as the economy recovers and the US and Europe may see the first increase in consumption in several years, the International Energy Agency said. Despite the global shift toward economies based on renewable energy, the dirtiest fossil fuel looks set to keep its role as the world’s biggest power source although its share will slip to 35% in 2021 from 36.5% last year. Coal use in power generation globally is expected to increase by as much as 2.8% next year as electricity demand rebounds particularly in Asia, the IEA said in… Read More Here