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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

Iron Ore International Mining Companies

Iron ore price jumps as Fortescue, BHP and Rio Tinto face labour shortage

January 26, 2022January 26, 2022 admin

The iron ore price jumped on Tuesday after Fortescue raised concerns over a labour shortage in Australia because of covid-19 curbs, which could hamper output and shipments. BHP and Rio Tinto have also warned of disruptions from labour shortages as Australia faces a surge of Omicron coronavirus variant cases. According to Fastmarkets MB, benchmark 62% Fe fines imported into Northern China were changing hands for $138.39 a tonne during morning trading, up 3.7% compared to Monday’s closing. Iron ore’s most-traded May contract on China’s Dalian Commodity Exchange ended daytime trading 1.4% higher… Read More Here

Cobalt Battery Metals Lithium Nickel

Glencore, Managem partner to recover cobalt, lithium, nickel from recycled batteries

January 26, 2022January 26, 2022 admin

Diversified miners Glencore and Managem have entered into a partnership to produce cobalt from recycled cobalt, nickel and lithium at Managem’s Compagnie de Tifnout Tiranimine (CTT) hydrometallurgical refinery in Morocco. Glencore and CTT intend to enter into a five-year tolling agreement for 1 200 t/y of recycled cobalt, as well as nickel hydroxide and lithium carbonate. The partnership forms part of Glencore and Managem’s commitments to support the electric vehicle industry in achieving its metals recycling targets. The partnership is conditional on a feasibility study to assess the commercial viability of… Read More Here

Mining in Zambia Gemstones

Kagem signs 2022-2023 collective agreement with Zambian unions

January 26, 2022January 26, 2022 admin

Kagem Mining has signed a collective agreement with unions under which unionised employees will receive a 10% increase in basic salary for 2022, followed by a further 10% increase for 2023 across the board and those sitting between the grade notches will move up to the next notch. The company is owned 75% by London-based Gemfields in partnership with the Industrial Development Corporation (IDC), which holds 25% on behalf of the Zambian Government. The collective agreement, which has been approved by the Labour Commissioner (Lusaka), followed successful negotiations between management… Read More Here