International - Copperbelt Katanga Mining

Mozambique Recovers Undeclared Gold Amid Efforts to Combat Mineral Smuggling 1

The Mozambican government has recovered approximately 30 kilograms of undeclared gold from mining operators in the central province of Manica over recent years. Silva Manuel, Director of the Manica Provincial Service for Infrastructure, Mineral Resources, and Energy, told AIM that this recovery is a result of ongoing tracking efforts aimed at combating mineral exploitation and smuggling. However, the actual quantity of undeclared gold may exceed 30 kilograms. Companies operating in Mozambique’s mining sector have been involved in under-invoicing and tax evasion, resulting in significant financial losses for the state. In… Read More Here

Copper International

Copper price surpasses $10,000, expected to rise further, says Citigroup

July 7, 2024July 7, 2024 Constance

Copper prices surpassed $10,000/tonne on Friday after Citigroup analysts predicted the industrial metal may retest that level on investor optimism over policy support in China. The world’s biggest consumer is widely anticipated to introduce further stimulus to upgrade its renewable energyThese additional measures, specifically targeting domestic property and grid investments, are expected to support copper prices in the near term, Citi analysts said in a note. The bank also noted that the recent pullback in copper is mainly due to weaker manufacturing data globally, which it believes is only temporary.… Read More Here

International

BHP cuts employee incentives by 20% globally — report

July 5, 2024July 5, 2024 Constance

BHP (ASX, LON, NYSE: BHP), the world’s largest miner, is reportedly reducing by 20% short-term incentives offered for the 2023-24 fiscal year to all employees, the Australian Financial Review reported on Thursday. The move, according to sources quoted by AFR, comes as BHP failed to meet its internal performance targets. The company’s management attributed the reduction to failures in meeting cost and production goals in certain divisions, along with an incident that cost the life of a worker at its Saraji coal mine in Queensland in January, according to the… Read More Here

International Coal

Anglo American Weighs Options for Coal Business Sale Amid Mine Explosion Setback

July 3, 2024July 3, 2024 Constance

Anglo American is exploring options to proceed with the sale of its coal business following an explosion at its flagship Australian mine. The company may consider selling individual assets or excluding the damaged operation from a potential deal. This sale is part of a significant restructuring program announced earlier this year by Anglo American as the London-based miner sought to fend off a takeover bid by larger rival BHP Group. The company also plans to spin off its platinum unit and either sell or separate diamond miner De Beers. Initially,… Read More Here

International

Glencore Halts Sale of Stake in Kazakh Mining Firm Kazzinc

July 3, 2024July 3, 2024 Constance

Glencore has abandoned its plans to sell its stake in the Kazakh mining company Kazzinc after potential buyers failed to meet its valuation, according to sources familiar with the situation. Glencore, which holds a 70% stake in Kazzinc, had considered exiting the business amid interest from Chinese buyers. However, the company has now sent termination letters to the bidders, the sources said, requesting anonymity due to the private nature of the matter. A Glencore spokesperson declined to comment. Kazzinc operates a vast network of mines, concentrators, and metal finishing plants… Read More Here

International Copper

FQM Sees 6% Surge on TSX Amid Panama’s Cobre Panama Mine Audit

July 3, 2024July 3, 2024 Constance

Shares of Canadian miner First Quantum Minerals surged 6% on the Toronto Stock Exchange early Tuesday, driven by news of Panama’s decision to conduct an environmental audit of the Cobre Panama mine to assess its potential reopening. President Jose Raul Mulino, who assumed office on Monday, announced the environmental audit in his inaugural address. “I will order a rigorous environmental audit of the mine, involving top international experts, to provide clarity on its current state,” President Mulino stated. He emphasized that the auditing costs will not burden the government. “The… Read More Here

International Copper News in Brief

Panama to review all information to make an informed First Quantum decision

July 3, 2024July 3, 2024 Constance

Panama’s government will review and analyze all the available information to make an “informed and responsible decision” regarding new President Jose Raul Mulino’s request for an environmental audit of Canadian miner First Quantum Minerals’ Cobre Panama mine. “In his message to the nation, President Mulino said he will order a strict environmental audit; So for our part, we are going to review and analyze all the information available to make informed and responsible decision,” Trade and Industry Minister Julio Molto told Reuters on Tuesday. SOURCE:mining.com Read More Here

International Mining Personality

Ivanhoe Mines Announces Results of Voting for the Election of Directors

July 3, 2024July 3, 2024 Constance

Vancouver, British Columbia – Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) announced the results of voting by shareholders for the election of the Board of Directors during the company’s Annual General Meeting held earlier today. The nominees listed in the management proxy circular dated April 29, 2024, were elected as directors, as shown in the following table of results. Director nominee Outcome Votes for % for Votes withheld % withheld Robert M. Friedland Elected 1,108,010,331 97.95% 23,141,698 2.05% Weibao (Webber) Hao Elected 1,101,989,319 97.42% 29,162,710 2.58% Tadeu Carneiro Elected 1,093,406,066 96.66%… Read More Here

International Mining Equipment Partnership

Liebherr and Fortescue announce partnership for development of Autonomous Haulage Solution

July 3, 2024July 3, 2024 Constance

Building on the ongoing cooperative efforts between Liebherr and Fortescue, the two companies have announced that they will further combine their areas of expertise to develop and validate an Autonomous Haulage Solution (AHS). The AHS will be integrated with the zero emission haul trucks that the companies are currently co-developing, with the aim to be the first AHS operating zero emissions vehicles globally. In August 2023, Liebherr announced the deployment of a fleet of four T 264 autonomous trucks in Western Australia for onsite validation, which marked the next stage… Read More Here

International Equipment & Technology Mergers & Acquisitions Mining Equipment Press Release

Komatsu completes acquisition of GHH Group GmbH

July 3, 2024July 3, 2024 Constance

Komatsu has completed the acquisition of GHH Group GmbH (GHH), a manufacturer of underground mining, tunnelling and special civil engineering equipment headquartered in Gelsenkirchen, Germany. GHH’s wide range of equipment, focused on loaders (LHDs) and articulated dump trucks, will enhance Komatsu’s growing underground mining product offerings. This includes aftermarket parts and service support through the entire lifetime of the equipment. “The talented GHH staff are now part of Komatsu and our new combined team will work together to expand offerings and increase customer access to products in new territories,” said… Read More Here