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Zambian Government Fast-tracks the GED Africa Route

January 28, 2022January 28, 2022 admin

Just a month after the successful completion of GED Zambia’s early works civil construction, the Government of the Republic of Zambia continues to play a key role in maintaining the project’s momentum as they hosted GED Africa for a three-day working session (January 19-21, 2022).Delegates included representatives from various Ministries and Government Agencies, including the Zambia Road Development Agency (RDA), came together in the spirit of ensuring the success of this public-private partnership project.Discussions were chaired by Mr. Mumba Chanda, Director, Local Government Finance and Projects from the Ministry of… Read More Here

Gold International

Gold demand hits highest level in more than two years

January 28, 2022January 28, 2022 admin

Market development organisation the World Gold Council’s (WGC’s) latest ‘Gold Demand Trends’ report shows that yearly demand, excluding over-the-counter markets, has recovered many of the Covid-19-induced losses from 2020 to reach 4 021 t for the 2021 full-year. Demand for gold reached 1 147 t in the fourth quarter of 2021 – its highest quarterly level since the second quarter of 2019. It is also an increase of almost 50% year-on-year. Gold bar and coin demand rose 31% to an 8-year high of 1,180 t as retail investors sought a haven against the backdrop of rising inflation… Read More Here

Tin International

Mines: tin at 42,500 USD per ton on the market, double the price at the same period in 2021

January 28, 2022January 28, 2022 admin

A new year and a new record for the price of tin . The London Metal Exchange’s (LME) three-month tin hit its latest milestone of $44,200 a tonne on January 21 before suffering a bout of vertigo early this week. It has since regained its bullish calm, last trading around $42,500, still more than double the price at this time last year. Liquid metal continues to claim a significant additional premium. Tin is experiencing shortage prices, having been plagued by a protracted supply chain crisis since the start of the coronavirus. The shutdowns spurred demand… Read More Here

Mining in DRC Gold

DRC: more than 5.4 billion USD generated by the production and export of Gold between 2015 and 2019

January 28, 2022January 28, 2022 admin

The production and export of gold from the Democratic Republic of Congo (DRC) generated revenues of around 5,492,424,428.13 billion US dollars, according to the statistical data contained in the sector directory of the Democratic Republic of Congo, 2020 edition. According to this report, during the period under analysis, gold production amounted to 164,656.3 kilograms. Of the 164,656.3 kilograms of gold produced on Congolese soil, nearly 162,765.94 kilograms were exported to the international market for this mining product. Evolution of production and exports recorded between 2015 and 2019 In 2015, the… Read More Here

DRC: with a production of 78.2 million carats, diamond exports generated 1.077 billion USD between 2015 and 2019

January 28, 2022January 28, 2022 admin

For the period between 2015 and 2019, the Democratic Republic of Congo (DRC) produced more than 78,216,600.47 million carats of diamonds. As indicated in the statistical yearbook of the Ministry of Mines, this production generated more than 1,017,877,825.81 billion US dollars. According to these data from the statistical directory, this production estimated at 78.2 million carats is distributed as follows: • In 2015, diamond production stood at 15,753,487.33 million carats, for an export of approximately 15,789,209.09 million carats for revenue of US$231,078,056.83 million. This production will experience a slight decrease… Read More Here

Mining in DRC Mining tax Oil & Gas Taxes

DRC: nearly USD 5.8 billion collected in taxes, duties, fees and royalties from mining and oil companies between 2018 and 2019

January 28, 2022January 28, 2022 admin

Between 2018 and 2019, mining and oil companies operating in the Democratic Republic of Congo (DRC) paid the public treasury in taxes, duties, fees and royalties, a total amount estimated at 5,849,113,365.66 billion. U.S. dollars. This is what the statistical yearbook of the Democratic Republic of Congo reports in its publication for the year 2020. According to this report, during this period under analysis, mining companies paid the Congolese State a sum of 5,456,810,153.31 billion US dollars, i.e. 2.9 billion USD paid in 2018 and 2.4 billion USD in 2019.… Read More Here

Petroleum International Oil & Gas

Nigeria’s Ministry of Petroleum Resources Signs Partnership with African Energy

January 27, 2022January 28, 2022 admin

Nigeria’s Ministry of Petroleum Resources has fully endorsed African Energy Week (AEW) 2022, partnering with the AEC for the second edition of Africa’s premier energy event. Taking place in Cape Town on the 18th -21st of October, AEW 2022 extends on the narrative of making energy poverty history by 2030, uniting energy leaders, global financiers, and both public and private sector executives for a week of intense dialogue on Africa’s energy future. Having partnered with one of Africa’s energy sector heavyweights, the event is well positioned to lead Africa into… Read More Here

Energy Oil & Gas

Congo’s Gas Master Plan Promises to Expand Export Opportunities and Domestic Development

January 27, 2022January 27, 2022 admin

In a bid to optimize the country’s gas potential and revitalize its hydrocarbons sector, the Congo has put together and launched, at the end of 2021, a plan to put its estimated 10 trillion cubic feet of natural gas reserves to good use. The new Gas Master Plan (GMP) is designed to promote gas utilization and attract foreign direct investment, while reducing its dependency on oil revenues and expanding the country’s power grid. Developed by the Ministry of Hydrocarbons and Wood Mackenzie, guided by Société Nationale des Pétroles du Congo… Read More Here

International Gold

Gold price holds 2-month high ahead of Fed announcement

January 27, 2022January 27, 2022 admin

Gold prices retreated but still held near a two-month high on Wednesday, as investors await the outcome of a US Federal Reserve meeting that may offer more clues on the outlook for monetary policy tightening. Spot gold declined 0.8% to $1,833.15/oz by noon EDT, its highest since mid-November. US gold futures fell 1.0%, trading at $1,832.70/oz in New York. Later in the day, Fed chair Jerome Powell and his fellow policymakers are expected to signal their first interest-rate hike since 2018, setting the stage for a March move to cool inflation. The Federal… Read More Here

Equipment & Technology Mining technology

Epiroc posts 17% increase in operating profit

January 27, 2022January 27, 2022 admin

Swedish mining equipment manufacturer Epiroc has posted a 17% increase to 2.59 billion crowns (USD 280 million) in its operating profit for the December quarter. Epiroc saw orders increase by 25% to 11.6 billion Swedish crowns, and recorded an organic growth of 19% in Service and 16% in Tools and Attachments. Mining equipment orders also increased 20% organically. North America had the highest growth rate for equipment orders. Revenues hit a record 11.2 billion Swedish crowns, increasing 14% year-on-year. “Revenues increased and both operating profit and margin reached new records,… Read More Here