International - Copperbelt Katanga Mining

Higher Q2 Production Puts Barrick On Track to Deliver 2024 Targets

July 18, 2024July 18, 2024 Constance

Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) (“Barrick” or the “Company”) has reported preliminary Q2 production of 948 thousand ounces of gold and 43 thousand tonnes of copper, as well as preliminary Q2 sales of 956 thousand ounces of gold and 42 thousand tonnes of copper. As previously guided, Barrick’s gold and copper production in 2024 is expected to progressively increase each quarter through the year with a higher weighting in the second half. The Company remains on track to achieve our full year gold and copper guidance. The average market price for… Read More Here

International Gold

Barrick Offers to Engage with Ekō

July 18, 2024July 18, 2024 Constance

Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) (“Barrick” or the “Company”) has extended an invitation to representatives of Ekō to engage in discussions and visit specific mine sites referenced in their recent allegations concerning Barrick’s portfolio. The Company aims to facilitate a direct dialogue with Ekō to comprehensively understand the basis of their concerns. Barrick intends for these site visits to provide Ekō with firsthand access to factual data and ground realities. Through this initiative, Barrick seeks to correct what it perceives as misinformed and inaccurate statements about its operations. During the visits,… Read More Here

International Transport and Logistics

Lobito Atlantic Railway receives its first vessel at the Port of Lobito mineral terminal

July 15, 2024July 15, 2024 arnbethnic

Lobito, Angola, 15 July 2024 – The first vessel has docked at the mineral terminal of the Port of Lobito, operated by the Lobito Atlantic Railway (LAR) consortium, the concession holder for the operation, management and maintenance of the railway linking Angola to the Democratic Republic of Congo. The MV Lindsaylou, a bulk cargo vessel loaded with 40,500 tonnes of sulphur, docked on Friday 12 July, marking the beginning of port operations for LAR. The vessel was loaded in Qatar and arrived in Lobito after a journey of around a… Read More Here

Coal International

China’s Coal Imports Surge 12% in June Amid Heatwave-Induced Demand

July 14, 2024July 14, 2024 Constance

China’s coal imports rose by 12% year-on-year in June, driven by a surge in electricity demand due to extreme heatwaves, according to customs data released on Friday. The General Administration of Customs reported that China imported 44.6 million metric tons of coal in June, up from 43.82 million tons in May. Record high temperatures in northwest and east China in June increased electricity demand as people relied heavily on air conditioning to stay cool. The country has warned that it faces longer and hotter heat waves due to climate change.… Read More Here

Copper International

Copper Crisis Looms as Miners and Analysts Predict Supply Shortfall

July 14, 2024July 14, 2024 Constance

Boca Raton, Fla. – Miners and analysts gathered in a humid beach city in southeast Florida last week to discuss why the mining industry struggles to attract investors, despite a looming copper supply crisis. Mining mogul Robert Friedland, founder and executive co-chair of Ivanhoe Mines (TSX: IVN), addressed the Rule Symposium via a pre-recorded video interview from Telluride, Colorado. He emphasized the critical shortage of copper, stating that current prices around $4.60 per pound are insufficient to support the development of new projects. “We see a crisis coming in physical… Read More Here

International

Anil Agarwal Foresees $1 Trillion Investment Boom in India’s Mineral and Energy Sectors

July 13, 2024July 13, 2024 Constance

Anil Agarwal, Chairman of Vedanta Group, predicts that the import of minerals, metals, and energy will triple from the current $350 billion as India’s economy accelerates. This surge presents a potential $1 trillion investment opportunity in these sectors. Addressing shareholders at Vedanta’s annual general meeting, Agarwal highlighted that currently, 50% of India’s imports, valued at over $350 billion, consist of minerals and metals, including oil and gas. As the economy grows rapidly, these imports are expected to double and even triple, opening up substantial investment avenues. Agarwal emphasized that around… Read More Here

International Economy

Zimbabwe Urged to Reduce Reliance on the US Dollar

July 12, 2024July 12, 2024 Constance

Zimbabwe must take decisive steps to end its reliance on the US dollar and increase the use of its own currency, according to Information Secretary Nick Mangwana. “The benefits of de-dollarization far outweigh the costs, making it an urgent imperative for Zimbabwe to break free from the US dollar grip,” Mangwana stated in an opinion piece published in the Herald newspaper. Currently, over 80% of Zimbabwe’s transactions are conducted in US dollars, as per government data. The nation lifted a ban on the US currency in March 2020 at the… Read More Here

International Mining Equipment Mining safety

Epiroc Expands Live Work Elimination Products to Boost Mining Safety

July 11, 2024July 11, 2024 Constance

Epiroc has set long-term 2030 sustainability targets within the areas of people and planet, in line with the Paris Agreement and the UN 2030 Agenda for Sustainable Development. The target under “People – Health and Safety” is to have no work-related injuries. To contribute to this, Epiroc has established a “Live Work Elimination” program, which is wider than the product offering. “The goal of our LWE program is to make sure that when people work on our equipment, they are not exposed to any energy that would put them in… Read More Here

International Rare Earth Minerals

African Mines to Supply Nearly 10% of Global Rare Earths by 2029

July 11, 2024July 11, 2024 Constance

African mines are set to supply almost 10% of the world’s rare earth elements within the next five years, climbing from zero today and introducing new players into a market currently dominated by China. According to Benchmark Mineral Intelligence, eight mines in countries like Tanzania, Angola, Malawi, South Africa, and Uganda are expected to start production by 2029, contributing to 9% of the global supply. China currently mines about 70% of the world’s rare earths and refines almost all of them. These 17 elements are essential for producing magnets used… Read More Here

Gold International

Barrick Continues to Invest in Mali

July 11, 2024July 11, 2024 Constance

Barrick president and chief executive Mark Bristow said on Tuesday, July 9th the need to guarantee the long-term viability of the Loulo-Gounkoto gold mining complex was of the utmost importance to ensure the Malian mining industry’s sustainability and maintain its substantial contribution to the country’s economy. Speaking to local media and stakeholders, Bristow noted that over the past 29 years Barrick had invested more than $10 billion in the Malian economy, with its mines accounting for between 5% and 10% of the country’s gross domestic product (GDP) annually. In the… Read More Here