International - Copperbelt Katanga Mining

Gold has a role to play in Covid-19 testing toolbox | Did you know?

April 3, 2020April 3, 2020 arnbethnic

Gold is being used in new Covid-19 rapid tests around the world, which identify the presence of biomarkers from the body’s immune response to Covid-19 instead of looking for the virus itself. The tests can also help detect if a person has been infected with Covid-19 even after the virus is no longer present. In a blog post on March 17, World Gold Council (WGC) consultant Trevor Keel explained that tiny spherical particles of gold have been used as “indicators” in lateral flow assays (LFAs) for over 40 years. In terms of… Read More Here

Global markets International

Glencore postpones dividend payment decision

April 3, 2020April 3, 2020 arnbethnic

Miner and commodities trader Glencore (LON: GLEN) has deferred making a decision on whether to go ahead with the proposed 2020 cash distribution as risks associated with a global recession and massive demand shock loom. The Switzerland-based company had announced plans to reward investors with $2.6 billion in cash distribution this year, or $0.20 per share. Instead, it said it was taking “prudent” action to protect and strengthen its capital structure amid the current period of heightened uncertainty. Glencore warned that while there were currently no risks of material production disruption owing to the… Read More Here

International Mining technology

Modular Mining Improves Performance for a Zambian Copper Mine

April 3, 2020April 3, 2020 arnbethnic

For nearly all mining companies, maximizing profits is a top priority. One way that mines can achieve their profitability goal is through effective payload management. By gaining real-time visibility into equipment payload data, mines can avoid under- or overloading trucks, have an accurate accounting of the material being moved at any given time, and optimize the utilization of their existing equipment fleet. Problem A mine in Zambia recently approached Modular Mining for help in identifying opportunities to improve loading efficiency. In response, members of Modular Mining’s Africa-based Performance Assurance (PA)… Read More Here

International Mining technology

Rolls-Royce to Rebrand MTU Companies

April 3, 2020April 3, 2020 arnbethnic

British engineering group Rolls-Royce will rename and restructure the MTU companies, part of its Rolls-Royce Power Systems business unit, to improve brand recognition Rolls-Royce originally acquired a stake in the engine business MTU back in 2011; this was as part of a takeover of the brand’s previous owner, diesel engine supplier Tognum, through a joint venture with automaker Daimler. Tognum then became Rolls-Royce Power Systems, and in 2014, it was fully acquired by Rolls-Royce. As part of a new brand structure, MTU companies will have Rolls-Royce incorporated in their names,… Read More Here

Global markets International

Caterpillar Freezes Executive Pay | COVD 19 Effects

April 3, 2020April 3, 2020 arnbethnic

Caterpillar has instituted a freeze on base pay increases in 2020 as part of its cost cutting efforts to try and stave off the worst effects of the COVID-19 pandemic on its business. The measure affects senior executives, management and salaried employees. Employees covered by Caterpillar’s short-term incentive plans (STIPs) will not receive a STIP payout for the 2020 plan year either. That includes the annual incentive plan for Caterpillar’s executive officers. A Caterpillar spokeswoman said these were among the efforts the company was taking to reduce costs across the… Read More Here

International

FQM Seeking Alternative Routes for Export Amid South Africa Lockdown

April 2, 2020April 2, 2020 arnbethnic

FIRST Quantum Minerals is looking for alternative ways to export its copper from Zambian mines after South Africa imposed restrictions. The Toronto-listed company also said Zambian copper production was “better than expected” this year in spite of the COVID 19 threat. “Activities in Zambia have been slightly better than expected since the beginning of the year, with good volumes and recoveries of mixed and sulfide ores in Kansanshi and improved mining volumes and ore grades at Sentinel,” the company said in an update. “After announcing stricter restrictions in South Africa,… Read More Here

Diamond Gemstones Global markets International Mining in DRC

Global Diamond Mining Industry | The Way Forward 2020

March 31, 2020 arnbethnic

Alrosa and DeBeers are the two companies that share half of the world’s diamond supply. Whether you have ever owned an actual piece of diamond jewelry or not, you have probably heard about the dark history of the diamond trade. The concept of a blood diamond came from different parts of the African continent where diamond mining companies were exploiting workers and entire communities for profit. People have been suffering in gruesome conditions, and human rights organizations are still in the fight to end this issue. While… Read More Here

Copper Global markets International

Mine Closures Impact on Global Copper Supply – Report

March 30, 2020March 30, 2020 arnbethnic

The collapse of the copper price and the containment measures taken for the coronavirus pandemic are posing a significant risk to global copper mine supply and project development, Nick Pickens, research director at Wood Mackenzie said in a note this week. Day-by-day, mining companies are announcing revised plans to comply with new restrictions. “For now, temporary closures will be absorbed by our mine disruption allowance,” Pickens said. “In a scenario where there are wholesale closures of mines in Peru and Chile for 15 days, we would see 1.5% wiped from… Read More Here

Copper Global markets International

Global copper production to grow 3% annually until 2029

March 19, 2020March 19, 2020 Copperbelt Katanga News

Global copper mine production will continue to grow over the next few years as a number of new projects and extensions go online, supported by rising copper prices and demand, Fitch Solutions predicts in a new report. Fitch analysts forecast an average annual increase in global copper mine output of 3.1% per year for 2020-2029, with total production increasing from 20.3 to 26.8 million tons over the same period. For 2020, Fitch predicts that Chile will increase production slightly by 0.5% to 5.89 million tons. Growth will be led by… Read More Here

Copper Global markets International

Copper Price Meltdown Sinks Mining Stocks

March 19, 2020March 19, 2020 Copperbelt Katanga News

The decline in copper prices accelerated on Wednesday when global markets were plagued by pandemic fears and mining companies announced a series of production freezes and suspensions for project construction. Copper trading in New York fell 8.8% to $ 2,111 a pound ($ 4,650 a ton), the weakest since early October 2016. The price of copper has risen since its 2020 high, which was reached in late 2020 dropped more than 25% in January. Across South America, where most of the world’s copper is produced, countries like Argentina, Peru… Read More Here