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Chart: How metals prices performed in 2021

January 25, 2022January 25, 2022 admin

How Metals Prices Performed in 2021 Looking back on what gave investors strong returns in 2021, it was the year of industrial and energy metals. As demand for industrial goods surged, so too did their material metals. But unlike energy prices which rose across the board last year, not all metals managed positive returns. This infographic looks at the year-over-year return on metals prices from January 1 to December 31 of 2021, using pricing data tracked by Tradingeconomics.com. Inflation and Raw Material Demand Spur Industrial Metals Last year saw inflation hit 30-year highs… Read More Here

International Mining technology

Fortescue reports rise in shipments but flags labour shortage

January 25, 2022January 25, 2022 admin

Australian iron ore miner Fortescue Metals Group on Tuesday posted a 2% rise in second-quarter shipments, but flagged pressures from strong demand for labour and resources, as well as supply chain constraints due to the pandemic. The world’s fourth-largest iron ore miner shipped 47.5 million tonnes (mt) of the steel-making commodity in the December quarter, compared with 46.4 mt a year earlier. Bigger rivals BHP Group and Rio Tinto have also warned of disruptions from coronavirus-induced labour shortages as Australia faces a surge of Omicron cases. The slightly upbeat production… Read More Here

Copper International

Copper price retreats ahead of Fed meeting

January 25, 2022January 25, 2022 admin

The copper price fell on Monday under pressure from risk-off sentiment in global markets. Asian shares also slipped as investors braced for a Federal Reserve meeting at which it is expected to confirm it will soon start draining the massive lake of liquidity that has supercharged growth stocks in recent years. The Fed’s January two-day policy meeting is due to start on Tuesday. March delivery contracts were exchanging hands for $4.41 a pound ($9,702 a tonne) on the Comex market in New York, down 2.4% compared to Friday’s closing. The… Read More Here

Gold International

Gold nears two-month high as Russia-Ukraine tensions simmer

January 24, 2022January 24, 2022 admin

Gold prices advanced towards last week’s two-month high on Monday as US bond yields continued to fall and investors looked to invest in the safe-haven metal over concerns about tensions between Russia and Ukraine. Spot gold was 0.5% higher at $1 841.50 per ounce by 10:13 GMT, holding close to last week’s high of $1 847.42 an ounce. US gold futures rose an equal amount to $1 840.70. Investors are looking towards the US Federal Reserve’s two-day policy meeting starting on Tuesday. The Fed is expected tighten monetary policy at a much… Read More Here

Mining in DRC

DRC: government launches the work of the multisectoral workshop for the development of the National Directory of Natural Resources”

January 24, 2022January 24, 2022 admin

Launch this Tuesday, January 18, 2022 by Prime Minister Jean-Michel Sama Lukonde Kyenge of the Multisectoral Workshop for the development of the National Directory of Renewable and Non-Renewable Natural Resources of the Soil and Subsoil of the Democratic Republic of Congo. Organized by the Ministry of Territorial Development, it will be a question of establishing for each natural resource, its location, its commercial potential, its quality and content, the existing value chains, the actors involved in the exploitation, the use and marketing, inventory of resource reserves. In his word, the… Read More Here

Gold Mining Companies Mining in DRC

New high-grade lode discovery at Kibali excites Barrick CEO

January 24, 2022January 24, 2022 admin

Gold miner Barrick Gold revealed at a media briefing in Kinshasa, in the Democratic Republic of Congo (DRC), on January 21, that underground drilling at the Kibali gold mine’s KCD orebody was defining a new high-grade lode above the base of the existing shaft infrastructure. Barrick president and CEO Mark Bristow said this was an “exciting discovery”, which could add an entirely new orebody to the existing KCD series of orebodies. He said exploration and resource conversion would continue this year to extend the life of the mine. The Kibali gold mine… Read More Here

Mining in DRC Lithium

China’s Zijin Mining launches first lithium exploration project in DRC

January 24, 2022January 26, 2022 admin

China’s Zijin Mining Group Co. Ltd said on Monday it had officially launched its first lithium exploration project through a joint venture with Democratic Republic of Congo- (DRC-) owned firm Cominiere. The joint venture, called Katamba Mining, has secured mining rights to two greenfield exploration and mining projects at the periphery of the Manono lithium mine in the DRC, “in order to enhance Zijin’s competitiveness in new energy minerals,” the miner said in a statement. Manono lithium mine is controlled by Australia’s AVZ Minerals, and the mine’s reserves of lithium… Read More Here

Mining in DRC

DRC: Haut-Uélé, only 13.4 million USD paid in mining royalties in two and a half years (report)

January 24, 2022January 24, 2022 admin

A total of 13,403,250.40 million US dollars were regularly paid to the public treasury of the Democratic Republic of Congo by mining companies operating in the province of Haut-Uélé between the year 2018 and the first half of the year 2020 . With a single mining operator, the province of Haut-Uélé mobilized a total amount of 13.4 million US dollars in mining royalties in two and a half years. This is what the 2018, 2019 and 1st Quarter 2020 Softened Report of the Extractive Industries Transparency Initiative (ITIE DRC) provides.… Read More Here

Mining in DRC Mining Companies

DRC: Haut-Katanga, only USD 27.3 million was paid in mining royalties between 2018 and the end of August 2020 (report)

January 21, 2022January 21, 2022 admin

Between the year 2018 and the first half of the year 2020, sixteen (16) mining companies operating in the province of Haut-Katanga, in the Democratic Republic of Congo (DRC) only paid a total amount of 27,315 US$0.16.38 million for mining royalty. This is what emerges from the 2018, 2019 and 1st Quarter 2020 Softer Report of the Extractive Industries Transparency Initiative (ITIE DRC). These sixteen mining companies are, according to this report, distributed in 7 territories of the said province. They paid to the plate services of the Democratic Republic of… Read More Here

Mining in DRC

DRC: out of more than 149.3 million USD expected, FOMIN only received 31.6 million of the 10% quota on the mining royalty between 2018 and 2020

January 21, 2022January 21, 2022 admin

Between 2018 and June 2020, the Mining Fund for Future Generations (FOMIN) received only 31.6 million US dollars out of a total amount of 149.3 million US dollars projected under the 10% quota of the mining royalty reserved for it in view of its missions. During the period under review, the total of the 10% portion of the mining royalty reserved for FOMIN was expected to amount to 149,317,711 USD. However, the amount actually collected is 31,667,590 USD, representing an execution rate of 21%. This is what the latest 2018, 2019 and… Read More Here