Commodities
Galena fund: first for commodities industry
(Posted on 01/07/21)Galena Asset Management, a wholly-owned investment subsidiary of Trafigura, one of the world’s leading independent commodity trading companies, has successfully completed the first funding within a USD155 million, closed-ended three-year Committed Prepayment Portfolio Fund. The Galena Commodity Credit Fund, a first of its...
Force majeure declared at Richards Bay Minerals
(Posted on 01/07/21)Rio Tinto has declared force majeure on customer contracts at Richards Bay Minerals (RBM) in South Africa due to an escalation in the security situation at the operations. This has led to the decision to cease operations until the safety and security position improves.Rio Tinto chief executive Minerals, Sinead Kaufman, said: &ldquo...
Rio Tinto to drive decarbonisation with Schneider
(Posted on 28/06/21)Rio Tinto, a leading global mining and metals company, and Schneider Electric, the leader in digital transformation of energy management and automation, have signed a memorandum of understanding (MoU) for a first of its kind collaboration to develop a circular and sustainable market ecosystem for both companies and their customers...
Rio Tinto deploys first fully autonomous water trucks
(Posted on 22/06/21)Rio Tinto will deploy the world’s first fully autonomous water trucks at its $2.6 billion Gudai-Darri iron ore mine in Western Australia’s Pilbara region. The new vehicles, primarily used for dust suppression on site, will enhance productivity by enabling mine operations to digitally track water consumption and reduce...
BHP establishes new cloud agreements
(Posted on 18/06/21)BHP has selected Amazon Web Services (AWS) and Microsoft as long-term cloud providers to help improve safety, productivity, and reliability across its global operated assets.The collaborations with AWS and Microsoft will support two distinct parts of BHP’s operations.AWS will power BHP’s digital transformation by providing...
Kamoa Copper signs off-take agreements
(Posted on 14/06/21)New agreements will allow Kamoa Copper to export blister and concentrate copper locally through Lualaba Copper Smelter, and internationally through CITIC Metal and Zijin Mining Group.The Chairman of the Board at Kamoa Copper S.A., Ben Munanga, has announced that Kamoa Copper has signed copper concentrate and blister copper offtake...
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