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SRK appoints Sambwa as DRC chair 1 Mining in DRC Mining Personality 

SRK appoints Sambwa as DRC chair

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Experienced geological consultant, Dominique Sambwa has been appointed chairman of SRK Consulting Congo, based in Lubumbashi in the Democratic Republic of Congo (DRC). Sambwa has 25 years of experience in the minerals sector of the DRC, having joined the SRK Lubumbashi office when it was established over a decade ago. The office now has 14 local professionals and support staff, and is an integral part of SRK’s global network of engineers and scientists in over 45 offices. Sambwa’s career began in field exploration, leading him to join state-owned copper and… Read More Here
Tertiary Minerals Raises GBP500,000 For Metal Exploration in Nevada & Zambia 2 Mining in Zambia International Mining Companies 

Tertiary Minerals Raises GBP500,000 For Metal Exploration in Nevada & Zambia

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Aim-listed Tertiary Minerals has raised £500 000 before expenses through a placing of over 294-million new ordinary shares in the company. The placing was arranged through the company’s joint broker Peterhouse. The placing shares are expected to be admitted to trading on Aim on or about January 24. Additionally, Tertiary is making a further 58.8-million new ordinary shares available to provide qualified Tertiary shareholders and other qualified investors with an opportunity to participate in the fundraising. The broker option shares are available to qualified shareholders or other qualified investors via… Read More Here
Barrick meets FY guidance with 4.4Moz gold output 3 Gold 

Barrick meets FY guidance with 4.4Moz gold output

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Bullion major Barrick Gold has met its yearly guidance targets for the third consecutive year, producing 4.44-million ounces of gold and 415-million pounds of copper. The group’s guidance for the year was to produce 4.4-million to 4.7-million ounces of gold. The Africa and Middle East, as well as the Latin America and Asia Pacific regions finished the year at the higher end of their regional guidance range, Barrick reported on Wednesday. The company previously said that production from North America, which includes Nevada Gold Mines (NGM), would be at the… Read More Here
FQM achieves its highest-ever annual copper production 4 Copper Mining in Zambia 

FQM achieves its highest-ever annual copper production

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Lower ore grades at First Quantum Minerals’ two flagship Zambian mines last year have underscored the company’s goal of investing further in new production facilities. Globally the company achieved its highest-ever annual copper production of 816,000 tonnes, a 5% increase from 2020, but this was attributed to record production at its new Cobre Panama mine, and the resilience of its other operations. Copper production in the fourth quarter of 2021 was 201,000 tonnes. Copper production at Sentinel Mine in Kalumbila was 233,000 tonnes for the full year and 61,000 tonnes… Read More Here
Red Rock secures another victory in the DRC courts 5 Mining in DRC Copper Mining Companies 

Red Rock secures another victory in the DRC courts

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Aim-listed Red Rock Resources’ VUP project joint venture (JV) partner, VUP SA, was on January 14 issued an executory judgment from the Commercial Court of Lubumbashi in the Democratic Republic of Congo (DRC), ordering it to pay $2-million as damages, with costs. This follows an earlier judgment for payment of a principal amount of $2.5-million, representing 50.1% of the payment already made by a third party to VUP SA. Red Rock’s initial claim for interest and damages of $11-million was heard on January 6. As announced in 2019, Red Rock,… Read More Here
Shalina partners with Trafigura to secure financing for DRC copper/cobalt mine 6 Cobalt Copper Mining in DRC 

Shalina partners with Trafigura to secure financing for DRC copper/cobalt mine

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Dubai-headquartered copper and cobalt miner Shalina Resources and its subsidiary Chemaf have signed a financing and marketing agreement with commodity trader Trafigura. The deal will facilitate new supply of high-grade cobalt hydroxide and copper cathode at a time of growing global demand. Trafigura will syndicate about $600-million of financing to international banks, as well as market all of the cobalt hydroxide produced from the companies’ assets in the Democratic Republic of Congo (DRC). The financing will enable Shalina to complete the construction of its fully mechanised Mutoshi mine and solvent… Read More Here

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