International - Copperbelt Katanga Mining

Peru’s copper output this year likely to fall short of 3mt goal

August 25, 2024August 25, 2024 Constance

Peru will likely produce between 2.7 million and 2.8 million metric tons of copper this year, the head of a major mining group told Reuters on Tuesday, with estimated output falling below the government’s 3 million ton goal. The copper production forecast was provided by Victor Gobitz, head of the SNMPE mining, oil and energy association. Peru is the world’s No. 3 producer of the key industrial metal, used widely in vehicles and construction, especially for electrical wiring due to its ability to conduct current. Gobitz, who provided the output… Read More Here

International Diamond

Botswana’s Karowe Mine Yields Historic 2,492-Carat Diamond

August 25, 2024August 25, 2024 Constance

Botswana has once again made headlines in the diamond industry with the discovery of a monumental 2,492-carat diamond at the Karowe Mine. This remarkable find is the largest diamond unearthed in over a century and ranks as the second-largest ever discovered, surpassed only by the legendary 3,106-carat Cullinan Diamond found in South Africa in 1905. The yet-to-be-named gem was unveiled by President Mokgweetsi Masisi during a special viewing ceremony, where he expressed both awe and pride. “I am fortunate to witness this in my time,” Masisi remarked, describing the event… Read More Here

International Gold

Mozambique’s Gold Production Surges 19% in First Half of 2024

August 22, 2024August 22, 2024 Constance

Mozambique’s gold production increased by 19% year-on-year in the first half of 2024, reaching over 917 kilograms, according to official data accessed by Lusa. A report from the Ministry of Economy and Finance, detailing mining production in the first half of the year, revealed that this figure compares to nearly 769 kilograms produced in the same period of 2023. It also represents 58% of the 2024 target of 1,583 kilograms. With each kilogram of gold valued at approximately €73,000 on the international market, Mozambique’s total production in the first half… Read More Here

International Drilling Gold

Ivanhoe Electric Begins Drill Testing at Saudi Gold-Copper-Zinc Mine

August 20, 2024August 20, 2024 Constance

Ivanhoe Electric (NYSE American: IE) (TSX: IE) said on Monday its joint venture in Saudi Arabia has started drill testing the first of two chargeability anomalies identified near the Al Amar gold-copper-zinc mine, which is owned by Ma’aden, the state-owned mining company and Ivanhoe’s 50/50 partner. In November 2023, the JV kicked off its exploration campaign on 48,500 km2 of land on the Arabian Shield, initially targeting the areas surrounding Al Amar that are considered highly prospective for volcanic massive sulphide (VMS) and epithermal deposit types. The resulting geophysical survey,… Read More Here

International Copper

Chinese Copper Exports Plunge as Domestic Demand Surges

August 20, 2024August 20, 2024 Constance

Chinese copper exports sharply declined in July, falling 40% from June to 140,940 tons, according to customs data released Sunday. This drop follows a historic surge in June, as domestic buyers capitalized on the metal’s price drop. Despite the decline, July’s export volume remains nearly double that of the previous year, with shipments over the first seven months of 2024 up 43% compared to 2023. The surge in international copper prices, which reached a record high in May, had led to an unusual increase in Chinese exports, filling London Metal… Read More Here

International Mergers & Acquisitions

Metso denies rumors of planned merger with Sandvik

August 20, 2024August 20, 2024 Constance

Finnish mining equipment maker Metso denied on Monday market rumours suggesting it was in talks with Sweden’s Sandvik to acquire the rival’s mining unit, potentially creating a regional Nordic giant. Swedish business daily Dagens Industri had reported over the weekend that Metso shareholders were mulling a merger of the company with Sandvik’s mining business. “Metso has no information related to the speculations and no related insider project exists,” Juha Rouhiainen, vice president of investor relations said in the statement. Speculation around a potential tie-up comes as Metso announced earlier this… Read More Here

International Gold

Nevada Gold Mines Completes Construction of 200MW Solar Power Plant

August 20, 2024August 20, 2024 Constance

The Barrick-operated Nevada Gold Mines (NGM), a joint venture with Newmont Corporation, has completed the construction of the second and final phase of a 200-megawatt solar power plant, which will have the capacity of producing 17% of NGM’s annual power demand while realizing an equivalent emissions reduction of 234 kilotonnes of carbon dioxide per year. Speaking at a ribbon-cutting ceremony at NGM’s TS Solar Power Plant, which was attended by Senator Jacky Rosen and the Department of Energy’s Heidi Miller, Barrick president and chief executive Mark Bristow said the solar… Read More Here

Mining Equipment International

Featuring a new engine, the Cat® 6020 Hydraulic Mining Shovel delivers high uptime and efficiency

August 20, 2024August 20, 2024 Constance

-New C32B engine increases durability, performance and reliability in mining applications -Model name changes from Cat® 6020B to 6020 to align with the Cat shovel lineup -Ideally matched to optimize loading of Cat 775, 777, 785 and 789 trucks Powering through the toughest materials, the Cat® 6020 Hydraulic Mining Shovel meets the mining industry’s need for durable, reliable and highly efficient digging performance. To align with the rest of the Cat hydraulic mining shovel lineup, model nomenclature has been updated from the Cat 6020B to the 6020. Today’s 6020 shovel… Read More Here

International Mining Equipment

XCMG signs landmark mining equipment deal with Rio Tinto for Simandou

August 18, 2024August 18, 2024 Constance

On August 12, Chinese mining equipment major XCMG and mining giant Rio Tinto signed a global cooperation framework agreement in Conakry, the capital of Guinea. At the same time, XCMG and SimFer Company, a joint venture between Rio Tinto and Chinalco Group, signed a statement of work for the Simandou mining project. This marks a significant step forward in developing the world’s largest untapped iron ore deposit. In 2014, XCMG and Rio Tinto established a cooperation related to XCMG’s hydraulic cylinder products. The 400 t excavator hydraulic cylinder provided by… Read More Here

International

Namibia Approves Sale of Dundee Precious Metals’ Tsumeb Smelter to Sinomine Resource Group

August 18, 2024August 18, 2024 Constance

The Namibia Competition Commission has approved the sale of Dundee Precious Metals’ interest in the Tsumeb smelter to China’s Sinomine Resource Group. Dundee Precious Metals (DPM) signed an agreement in March 2024 to sell its shares in Dundee Precious Metals Tsumeb Holding to Sinomine Resources Group for $49 million. The Tsumeb smelter is operated by Dundee Precious Metals Tsumeb Holding. In a statement released on Friday, DPM confirmed that the sale is on track to close in the third quarter of 2024. However, the closure is contingent upon finalizing documentation… Read More Here