International - Copperbelt Katanga Mining

Metso Outotec to supply grinding technology to gold mine

October 4, 2020October 4, 2020 admin

Metso Outotec will deliver two energy-efficient Vertimill® VTM-4500 stirred mills to a gold mine in Australia in 2021. These vertical grinding mills will be the largest of their kind to be installed in Australia. Typical value for this type of an order is in the range of €10 – 15 million, depending on the scope of delivery. The order has been booked in the company’s orders received in 3Q20. Metso Outotec’s Vertimill provides the lowest total cost of ownership compared to other grinding mills in many applications thanks to its high… Read More Here

Covid-19 International

Donald Trump and Melania Tests Positive for COVID-19

October 2, 2020October 2, 2020 arnbethnic

President Donald Trump has tested positive for the coronavirus, a stunning development that came hours after he confirmed one of his longest-serving aides with whom he had recently traveled also received a positive test result. The revelation had implications for the president’s health, the administration’s response to the pandemic and also the Nov. 3 election, during which Trump has leaned on states to reopen and has claimed that the nation is “turning the corner” on the virus. “Tonight, @FLOTUS and I tested positive for COVID-19,” Trump tweeted early Friday morning. “We… Read More Here

Gold International

Gold price jumps on US stimulus hopes

October 1, 2020October 1, 2020 admin

Gold prices advanced and stood firm past the $1,900 mark on Thursday, boosted by an easing dollar and increased investor confidence that there will be further US fiscal stimulus measures to aid the economy. Spot gold jumped 1.1% to $1,907.89 per ounce by 12:20 p.m. EDT, having ended September 4.3% lower — its biggest monthly decline since November 2016. US gold futures were 1.0% higher, trading at $1,914.50 per ounce in New York. The surge in gold prices comes after US Treasury Secretary Steven Mnuchin said Wednesday’s discussions with House… Read More Here

Covid-19 Copper International

Copper price in biggest drop since height of pandemic

October 1, 2020October 1, 2020 admin

The copper price rally came to an abrupt halt on Thursday with the bellwether metal experiencing one of the worst one-day price drops on record. On the Comex market, copper for delivery in December fell 5.7% to $2.8595 a pound ($6,304 a tonne) amid heavy selling, with more than 2.6 billion pounds traded by 1pm in New York. It was the biggest decline since mid-March at the height of the covid-19 induced sell-off, which sent the copper price crashing to below $2.00 a pound – levels last seen during the global… Read More Here

Gold International

Gold price back above $1,900

September 30, 2020September 30, 2020 admin

Price of bullion rose again on Tuesday, nearing its highest in almost a week, as investors await the first US presidential debate and further developments on a new coronavirus relief bill. Spot gold advanced 0.8% to $1,896.80 per ounce by 2 p.m. EDT, having briefly touched the $1,900 per ounce mark earlier in the session. US gold futures also gained 1.1%, trading at $1,903.40 per ounce on the Comex in New York. “A slight inflow into gold-backed ETF holdings supports the view that gold is again back in demand as a… Read More Here

Equipment & Technology International

Sandvik launches new RDX5 rock drill

September 30, 2020September 30, 2020 admin

Following the virtual grand opening of its Rock Drill Innovation Centre, in Finland, Swedish mining gear and metal-cutting tools maker Sandvik launched its RDX5 rock drill on September 30. The rock drill builds on the success of “the most dependable rock drill in the market”, the HLX5, and continues to provide improved reliability, reduces operating costs and has “exceptional” productivity, says Sandvik. The RDX5 comes with a substantially increased service interval and keeps a minimal amount of moving parts as the basic design principle, but also has new features like… Read More Here

Gold International

Gold price closing in on worst week since March

September 26, 2020September 26, 2020 admin

Gold declined further on Friday and is now set for its biggest weekly loss since the coronavirus panicked global markets in March. Meanwhile, the US dollar rallied again as risk aversion among investors continues to rise following a warning from the US Federal Reserve that economic recovery will stall without further stimulus. Spot gold fell 0.3% to $1,862.91 per ounce by 11 a.m. EDT, after touching its lowest since July a day earlier. US gold futures were down 0.6% to $1,865.70 per ounce in New York. The outlook for the global economic… Read More Here

Gold International

Rise in dollar causes Gold price to slide further

September 23, 2020September 23, 2020 admin

Gold continued its slide to a new two-month low on Wednesday as positive momentum for stocks and a strengthening dollar undercut investor appetite for bullion, while a lack of additional stimulus to aid the global economy on the road to recovery added further pressure on the precious metal. Spot gold was down 1.7% to $1,866.71 per ounce by 11:30 a.m. EDT. US gold futures also fell 1.8% to $1873.00 per ounce in New York. Meanwhile, more positive US economic data and concerns over surging coronavirus infections in Europe pushed the… Read More Here

Battery Metals International

Tesla unveils new 4680 battery cell

September 23, 2020September 24, 2020 admin

Tesla revealed its new ‘4680 cell’ at the company’s Battery Day, promising five times more energy capacity and six times more power than previous cells, key factors to fulfill its long-term objective to sell a low cost mass-market electric vehicle. The company also said it is planning to build its own cathode factory in North America, and when Elon Musk announced the company’s claim on 10,000-acre lithium clay deposit in Nevada, it signaled that Tesla is officially getting into the mining business. According to Tesla’s estimates, using its new extraction and… Read More Here

Cobalt Battery Metals International

Tesla “battery day” a possible blow to cobalt miners

September 21, 2020September 21, 2020 admin

Elon Musk’s Tesla will hosts its annual shareholder meeting on Tuesday, Sept. 22, followed by the highly anticipated “battery technology day”, a worldwide live-streamed event during which the firm is expected to unveil its own new type of battery cell. Speculation points to a cobalt-free battery that uses more of less costly metals such as nickel and manganese. Tesla currently uses the nickel-cobalt-aluminum cathode chemistry, which has a low cobalt content of about 5%, for their cars produced outside China. The company also embraces the Responsible Minerals Initiative (RMI) to identify red flags such as child labour in their cobalt sourcing.… Read More Here