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Category: International

Copper price plummets as China faces first GDP drop since 1976  1 Copper International 

Copper price plummets as China faces first GDP drop since 1976 

Copperbelt Katanga News
Copper prices dropped on Monday after China released a series of economic data showing the deepest falls in industrial production and property, plant and equipment. Copper trading in New York fell more than 5% on Monday to a low of $ 2,335 a pound ($ 5,150 a ton), the lowest since early November 2016. The copper price is up from the 2020 high that was hit towards the end, was also down by 19% from January. Industrial production growth in China declined by 13.5% in January and February compared to… Read More Here
Gold Gold International 

Gold price coronavirus losses top $250 an ounce

Copperbelt Katanga News
Gold’s pandemic failure surpassed $ 250 an ounce on 16th of march 2020 Monday, for the seventh consecutive day, as global financial and commodity markets continued to panic. Gold for delivery in April fell on the Comex market in New York to $ 1,450 an ounce on Monday, a decrease of $ 65 an ounce or 4.3% from Friday’s closing price. Last Monday, the metal hit a seven-year high of $ 1,704.30. By the afternoon, contracts for 53 million ounces of gold had changed hands, and gold has returned over… Read More Here
ExxonMobil Unveils Lubricant Maintenance App 2 International Mining technology 

ExxonMobil Unveils Lubricant Maintenance App

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The new Mobil Serv Lubrication Management program, which is based on Redlist’s mobile, cloud-based app, is designed to help operators organize, automate and optimize maintenance-related activities. It can be used for predictive maintenance management, lubrication planning, performance tracking, and security and compliance reports.  The work and data streams are all available in one system, which can be integrated into the operator’s existing computer-based maintenance management (CMMS) and enterprise resource planning (ERP) systems. Matt Dinslage, Mobil Serv’s brand and strategy consultant at ExxonMobil, said: “Many companies welcome the Industry 4.0 revolution,… Read More Here
Epiroc to Convert Roy Hill's 77 Dump Trucks to Driverless Equipment 3 International Mining technology 

Epiroc to Convert Roy Hill’s 77 Dump Trucks to Driverless Equipment

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Technology solution provider ASI Mining has signed a subcontract with Epiroc to deliver its autonomous transportation solution to Roy Hill in Western Australia. This subcontracting follows the recent order from Epiroc to automate the Roy Hill iron ore mine in Western Australia.  Under the existing agreement, ASI Mining will provide the technology and systems to convert the mixed iron ore mine fleet of 77 trucks from manned to autonomous. Roy Hill is an iron ore mining company located in the Pilbara region of Western Australia. The Perth-based Remote Operations Center… Read More Here
Philippines to overtake Indonesia as global largest nickel producer 4 Nickel Global markets International 

Philippines to overtake Indonesia as global largest nickel producer

arnbethnic
Global nickel production will drop significantly over 2020, as major producer Indonesia’s nickel ore export ban comes into effect, Fitch analysts assert in a recent report. This drop will be slightly offset by the impact of rising production growth in the Philippines where some currently suspended mines will become operational again, while the country aims to plug the likely supply gap caused by the Indonesian export ban, Fitch says. Analysts maintain other major producers such as Russia, Australia and Canada will maintain stable production growth year-on-year.  Global nickel ore production will fall by 15.4%… Read More Here
Kinross shuts Toronto office after employee confirmed to have coronavirus 7 International Gold 

Kinross shuts Toronto office after employee confirmed to have coronavirus

arnbethnic
Kinross Gold Corporation (TSX:K; NYSE: KGC) (“Kinross”) was informed on March 10, 2020 that an employee from its Toronto office tested positive for the COVID-19 virus. Kinross values the health and safety of its employees above all other priorities, and as a precaution, closed the Toronto office today for a thorough cleaning and disinfection. Kinross has asked its employees to work from home until at least March 20th when the need for the closure will be re-evaluated. The Company is working directly with Toronto Public Health (TPH) who used current… Read More Here
China $570 billion stimulus raises hopes for copper, iron ore price 8 Copper International Iron Ore 

China $570 billion stimulus raises hopes for copper, iron ore price

Copperbelt Katanga News
Copper and iron ore prices have held up surprisingly well as markets in the West belatedly come to grips with the coronavirus pandemic and China shifts focus from containment to rebuilding its economy following more than two months of inactivity. On Wednesday BMO Capital Markets held a conference call with PRC Macro, a consulting firm focused on China’s political economy, about the prospects for 2020 GDP growth in the country. PRC Macro anticipates spending by Beijing of as much as $570 billion primarily focused on infrastructure. PRC Macro says “in order… Read More Here
The best places to mine are still in the developed world – and that’s a problem 9 International 

The best places to mine are still in the developed world – and that’s a problem

Copperbelt Katanga News
The latest list of the top places to invest in mining is dominated by developed countries with long histories of success in the industry, but this probably isn’t a good thing. The Fraser Institute’s annual survey  of mining companies ranked Western Australia state as the most attractive jurisdiction for investment, as it moves up from the number two spot previously, replacing the U.S. state of Nevada, which slipped to third spot. The 2019 survey, showed the placed Finland in second spot, Alaska in fourth and Portugal in fifth. Perhaps the biggest surprise in the… Read More Here
Miners Target growing electric vehicle sector 10 International Mining technology 

Miners Target growing electric vehicle sector

Copperbelt Katanga News
Declining discovery rates and the potential for long-term supply gaps of key metals remain important issues facing the mining sector, industry veterans told the Prospectors & Developers Association of Canada convention in Toronto. Ivanhoe Mines Ltd.  Executive co-Chairman and founder Robert Friedland said he doubted the world had enough copper supply to meet demand in the years to come. He predicted that the global economy will increasingly shift to metal-intensive infrastructure, highlighting electric cars. Friedland made the forecasts ahead of an announcement by General Motors Co. , which on Wednesday… Read More Here

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