International - Copperbelt Katanga Mining

China's Gold Demand Fuels Record-Breaking Rally, Surpassing $2,400 per Ounce 1

Gold has reached unprecedented heights, surpassing $2,400 per ounce this year, captivating global markets. At the forefront of this remarkable surge is China, the world’s largest producer and consumer of the precious metal. Driven by escalating geopolitical tensions and the anticipation of lower US interest rates, gold has become an attractive investment option. However, it’s the relentless demand from China across various sectors that has propelled the rally to new heights. Traditionally, China and India have competed for the title of the world’s largest gold buyer. Yet, recent trends show… Read More Here

International Copper

Trafigura Forecasts Copper Demand Surge with Technology Advancements

April 22, 2024April 22, 2024 Constance

Flourishing activity in the electric vehicle, power infrastructure, AI and automation sectors will lead to at least 10 million metric tons of additional copper consumption over the next decade, commodity trader Trafigura told Reuters. Technological developments such as artificial intelligence and automation, and the energy transition, which includes electric vehicles and renewable energy, have already driven up demand prospects for copper cable used to conduct electricity. Estimates of new demand from these applications vary, but Graeme Train, head of metals analysis at Swiss-based Trafigura, said one third of the 10… Read More Here

International

Sibanye-Stillwater provides updates on its SA PGM operations

April 22, 2024April 22, 2024 Constance

Multinational mining and metals processing group Sibanye-Stillwater updates its stakeholders on the repairs at its Siphumelele shaft at its Rustenburg operation and its end-of-life 4 Belt (4B) shaft at its Marikana operation. Siphumelele shaft at the Rustenburg operation On 29 February 2024, damage to surface infrastructure at the Siphumelele shaft resulted in the suspension of production from the shaft. The incident occurred when an ore collector bin attached to the shaft headgear sheared off and fell to the ground, damaging a surface ore conveyor belt system. There were no injuries… Read More Here

International Copper

𝗞𝗛𝗢𝗘𝗠𝗔𝗖𝗔𝗨 𝗡𝗘𝗪 𝗢𝗪𝗡𝗘𝗥𝗦 𝗖𝗢𝗠𝗠𝗜𝗧 𝗧𝗢 𝗦𝗘𝗧𝗧𝗜𝗡𝗚 𝗨𝗣 𝗕𝗘𝗡𝗘𝗙𝗜𝗖𝗜𝗔𝗧𝗜𝗢𝗡 𝗔𝗖𝗧𝗜𝗩𝗜𝗧𝗜𝗘𝗦 𝗜𝗡 𝗕𝗢𝗧𝗦𝗪𝗔𝗡𝗔

April 22, 2024April 22, 2024 Constance

Minister of Minerals & Energy Hon Lefoko Maxwell Moagi has revealed that MMG Limited , the new owners of Khoemacau Copper Mining will set up beneficiation activities in Botswana to add value to the product and create thousands of Jobs locally. Minister Moagi was speaking during the change of Khoemacau ownership ceremony in Toteng. MMG Limited ,listed on the Hong Kong Stock Exchange acquired Khoemacau’s parent company Cuprous Capital at over P23 billion in a one of the largest transactions inthe history of Botswana. MMG major shareholder is China Minmetals… Read More Here

International Copper

Trigon Metals CEO confirms copper mineralisation 15km east of Kombat mining licence

April 22, 2024April 22, 2024 Constance

Trigon Metals CEO Jed Richardson says they can now confirm that copper mineralisation continues 15km east of the main Kombat mining licence 73B in Namibia.Richardson said this after a drilling campaign intercepted 7.0m at 3.52% copper and 43.09 g/t silver at Schlangental, a key prospect within the more expansive Kombat property.According to Richardson, it is over 25 million tonnes of combined tonnes over 2% copper, almost all contained in just 2.1 km.Richardson said the expanse of the Copper King Extension, specifically Schlangental, has long been an area of interest for… Read More Here

International Mining Equipment

Boliden, Epiroc, and ABB Forge Groundbreaking Battery-Electric Truck System for Underground Mining

April 22, 2024April 22, 2024 Constance

Boliden, Epiroc and ABB have passed a new technology milestone by successfully deploying the first fully battery-electric truck trolley system on an 800 m long underground mine test track in Sweden, with a 13% incline. The partners say this means the mining industry is a step closer to realising the all-electric mine of the future, with sustainable, productive operations and improved working conditions. The statement said: “The achievement of the collaboration in Boliden’s Kristineberg mine in northern Sweden marks a critical moment for the mining industry as it continues to… Read More Here

International Mining Equipment

Epiroc & Nexgen SIMS partners demo fully autonomous solution for material handling at the face

April 22, 2024April 22, 2024 Constance

Nexgen SIMS is a collaborative project run by a consortium of partners coordinated by Epiroc and partly funded by the European Union. It will be completed in April 2024 and aims to develop technologies, methods, and processes for the sustainable mines of the future. The partners within Nexgen SIMS say they have developed and recently demonstrated a working solution for the work package: autonomous material handling at the face. The demo occurred at a depth of 750 m in Agnico Eagle’s Kittilä gold mine in Finland. It encompassed a fully… Read More Here

International

Hon. Anthony Mavunde Spearheads Transformation in Tanzania’s Mining Sector

April 22, 2024April 22, 2024 Constance

In a remarkable display of leadership and foresight, Hon. Anthony Mavunde, Minister of Minerals, led a crucial meeting with the Board of Directors and Management of the State Mining Corporation (STAMICO) in Dodoma on April 18, 2024. The agenda focused on shaping the mining landscape in Tanzania for the fiscal year 2023/2024. Key Highlights: .Research and Development: Minister Mavunde stressed the significance of comprehensive mineral research to establish large-scale mining projects. This strategic approach aims to reduce reliance on foreign investors by harnessing and enhancing local capabilities. .Sectoral Investments: With… Read More Here

International Economy News in Brief

China Cancels Portion of Zimbabwe’s Debt Amidst Growing Concerns

April 22, 2024April 22, 2024 Constance

China has announced the cancellation of a portion of its interest-free loans to Zimbabwe, demonstrating support amidst the country’s financial challenges. The move is part of China’s broader effort to aid Zimbabwe in tackling its escalating debt burden, which has reached $17.7 billion as of September 2023. Despite welcoming the debt relief, concerns persist about Zimbabwe’s long-term debt sustainability. The specifics of the loan write-off and future debt restructuring will be clarified in discussions between Chinese and Zimbabwean authorities, with the international community closely monitoring developments. While China’s decision represents… Read More Here

International

Chilean Mining Minister Charts Codelco’s Future Amid Global Competition

April 21, 2024April 21, 2024 Constance

Chile’s Mining Minister, Aurora Williams, outlined the strategic direction for Codelco, the state-run copper giant, amidst stiff competition from rivals like BHP. Despite challenges, Codelco’s global stature remains intact. With aspirations to reverse two years of declining production, Codelco’s focus on boosting output is clear. However, hurdles such as cost overruns and delays, compounded by recent accidents, have complicated their efforts. While Codelco met its first-quarter targets, setbacks like the temporary shutdown due to a worker fatality at the Radomiro Tomic mine may impact April’s figures. Codelco, responsible for a… Read More Here