International - Copperbelt Katanga Mining

Cobalt prices surge on electronics boom, as its supply tightens

September 4, 2020September 4, 2020 admin

Benchmark Mineral Intelligence reports cobalt hydroxide prices surged by more than 22% to more than $26,000 per tonne in August from July, while cobalt sulphate prices jumped 18.5% to average over $8,000 a tonne on the back of supply disruption and strong demand from the consumer electronics sector. The London-based battery supply chain and price discovery agency reports the price rally came despite lacklustre demand from the electric vehicle throughout the month. Benchmark says the soft downstream environment was most notable in top Chinese cobalt refiner GEM’s announcement that its NCM (nickel-cobalt-manganese)… Read More Here

Copper International

Copper heads for historic squeeze with China’s demand red hot

September 4, 2020September 4, 2020 admin

The global copper market could be on the cusp of a historic supply squeeze as Chinese demand runs red hot and exchange inventories plunge to their lowest levels in more than a decade. A growing chorus of traders and analysts say those dwindling spot reserves could trigger a further surge in prices, building on a rally that lifted copper this week to two-year highs above $6,800 a ton. Red Kite Capital Management LLP fund manager George Daniel said the market is starting to resemble that of the early 2000s, when a similar… Read More Here

Mining Equipment International Mining technology

Autonomous dump trucks and why the market is poised for growth

September 4, 2020September 4, 2020 arnbethnic

Autonomous trucks are already a common sight at mines around the world. Researchers at The Parker Bay Company forecast that the market for self-driving machinery is set for growth as operators take advantage of the economic benefits of the technology.By Ben Hargreaves13 March 2020 From data analytics to simulation, new technologies are playing an increasingly important role in the mining industry – and the sector is also proving to be a leader when it comes to the adoption of the latest remotely operated trucks. Rio Tinto’s new $2.6 billion Koodaideri… Read More Here

International

World’s second largest high angle conveyor soon to be completed at Metalloinvest’s Mikhailovsky GOK

September 3, 2020September 3, 2020 admin

High angle conveying is on the up in mining – and the world’s second largest installation is close to completion in the southern part of Russia’s Mikhailovksy GOK iron ore open pit mine, part of Metalloinvest. It consists of 13 sections, uses a sandwich conveyor, has a 37 degree angle and a lift of 215 m. It has a capacity to handle 15 Mt/y (rated at 3,000 t/h) and has been designed and installed by Metalloinvest and Ukraine-based NKMZ. The crushing station has been located underground in the base of… Read More Here

Copper International Mining in DRC

Economic Conjuncture Committee notes an increase in the price of copper on the international market- DRC

September 3, 2020September 3, 2020 admin

Prime Minister, Sylvestre Ilunga Ilunkamba, gathered the members of the Economic Conjuncture Committee this Tuesday, September 1, 2020 at the Government Building to assess the economic situation of the country. It emerges from this meeting that the evolution of the economic situation is worrying at the global level and that will influence the national economy. However, the efforts made by the Government, with the support of the Central Bank of Congo since the signing of the stability pact, are yielding good results. The exchange rate has not moved since the… Read More Here

Gold International

Gold price falls on economic recovery hopes

September 2, 2020September 2, 2020 admin

Gold prices fell further on Wednesday as the US dollar strengthened, while a strong rebound in the nation’s manufacturing sector fuelled hopes of a recovery in the coronavirus-hit economy. Spot gold fell 1.5% to $1,940.09 per ounce by 12:10 p.m. EDT despite hitting an intraday high of $1,973.25 earlier in the session. US gold futures also declined 1.5% to $1,948.00 per ounce on the Comex. Meanwhile, the dollar was up nearly 0.5%, moving farther away from its two-year low, after Euro zone inflation turned unexpectedly negative last month. “The dollar index is… Read More Here

International Lithium

The reason lithium-ion batteries fail

September 1, 2020September 1, 2020 admin

Researchers from the Universities of Cambridge and Liverpool have identified a potential new degradation mechanism for electric vehicle batteries – a key step to designing effective methods to improve battery lifespan. In a paper published in the journal Nature Materials, the scientists say that they monitored changes of nickel-rich battery materials in real-time over several months of battery testing. Then, they used laser technology to design a new coin cell, also known as button cell. “This design offers a new possibility of studying degradation mechanisms over a long period of cycling for many… Read More Here

International Nickel

New nickel price launched

August 27, 2020August 27, 2020 admin

The price of nickel held onto nine-month highs on Tuesday as focus in the industry shifts to supply of the metal for the burgeoning electric vehicle market, and mine production declines hit double digits. On the LME, nickel was exchanging hands for $14,925 a tonne ($6.77 a pound), the highest since mid-November last year and up by more than a third from its March lows. Nickel production nixed The Lisbon-based International Nickel Study Group reports global mined nickel fell 7.7% in June compared to the same month last year, which… Read More Here

Covid-19 Gold International

Gold price declines after hopes of a new vaccine

August 26, 2020August 26, 2020 admin

The rally in gold, which surged to a record high nearly two weeks ago, is beginning to lose steam with hopes for a coronavirus treatment and signs of improving economies undercutting the metal’s appeal as a haven. Spot gold fell 0.6% to $1,916.61 per ounce by 11:50 a.m. EDT, while gold futures for December delivery declined 0.9% to $1,921.80 per ounce on the Comex in New York. At Friday’s market close, bullion posted back-to-back weekly losses for the first time since June, and is now headed for its fourth decline in five… Read More Here

Mining in DRC Cobalt International

Glencore joins Fair Cobalt Alliance

August 25, 2020August 25, 2020 admin

Switzerland-based miner Glencore has joined the Fair Cobalt Alliance in support of the group’s efforts to eliminate child and forced labour in the Democratic Republic of the Congo’s artisanal and small-scale mining (ASM) sector. Glencore mothballed its Mutanda copper-cobalt mine in the DRC in 2019 The miner noted that as an industrial miner it does not process, buy or trade ASM materials, but said the artisanal sector was a significant employer in the DRC and played “an important and sustainable” role in the economy. Some 60% of the world’s cobalt is… Read More Here