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BHP warns of difficult outlook for iron ore 1 Iron Ore International 

BHP warns of difficult outlook for iron ore

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BHP, the world’s biggest mining company, has warned investors of an increasingly troubling outlook for its iron ore business due to the proposed easing of border restrictions in Western Australia (WA). In an operational review, BHP said that the planned reopening of WA’s borders on 5 February was likely to “introduce some short-term disruption to the operating environment as the Covid-19 pandemic evolves in the state”. BHP joined rival mining giant Rio Tinto in warning of further disruptions from Covid-19, including labour shortages, and said that the impact of the… Read More Here
DRC: as of September 1, 2020, more than USD 66 million has been mobilized for mining royalties in Lualaba 2 Mining in DRC 

DRC: as of September 1, 2020, more than USD 66 million has been mobilized for mining royalties in Lualaba

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In the 2018, 2019 and 1st Semester 2020 softened report of the Extractive Industries Transparency Initiative (ITIE DRC), it is indicated that all mining companies located in the province of Lualaba paid the sum of 66,623,565, 69 million US dollars in two and a half years to the Congolese public treasury. Surveys conducted by the Extractive Industries Transparency Initiative during the period under review indicate that in 2018 all mining companies in Lualaba province paid US$12,712,169.87 million to the Congolese public treasury. . It should be noted that these figures… Read More Here
DRC: The experience of SICOMINES SA with the Busanga dam to be capitalized in the 217 hydroelectric sites of the DRC 3 Mining in DRC Energy 

DRC: The experience of SICOMINES SA with the Busanga dam to be capitalized in the 217 hydroelectric sites of the DRC

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A group of mining experts suggested capitalizing on the experience of the Sino-Congolese Mining Company (Sicomines SA) with its Busanga dam, in improving the energy production of the 217 hydroelectric sites of the Democratic Republic of Congo (DRC). These experts indicate in the publication of their research that the Sino-Congolese cooperation remains more active and reassuring messages from President Félix Tshisekedi sent to investors contribute strongly to improving the business climate in the Democratic Republic of Congo. On the other hand, they revealed two recent events which marked the Chinese… Read More Here
Copper price rises on stimulus hopes in China 4 Copper International 

Copper price rises on stimulus hopes in China

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The copper price rose on Wednesday, supported by expectations of further policy easing in China. March delivery contracts were exchanging hands for $4.48 a pound ($9,856 a tonne) on the Comex market in New York, up 2.3% compared to Tuesday’s closing. The most-traded March copper contract on the Shanghai Futures Exchange was steady at 70,050 yuan ($11,026.46) a tonne. China, the world’s biggest buyer of metals, has been mired in a property market slump, credit stress and repeated virus outbreaks. In response, the central bank this week cut its policy interest rate for… Read More Here
ECUADOR, A BECOME MINING PROVINCE? 5 Mining in DRC 

ECUADOR, A BECOME MINING PROVINCE?

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Equateur Province is known as a major supplier of timber in the Democratic Republic of Congo and abounds in dense forest. In this period of global warming, where the DRC is considered a solution country by its forest, most of which is located in the Equateur Province, information informs about the existence of several indices of mineral substances in this Province and this, in all of its Territories including Basankusu, Bikoro, Bolomba, Ingende and Lukolela. These indices include the commodities below; Gold, Diamond, Coltan, copper.It is within this framework that… Read More Here
Signing ceremony: the allocation of 0.3% of the turnover of mining companies for the benefit of local communities. 6 Mining in DRC 

Signing ceremony: the allocation of 0.3% of the turnover of mining companies for the benefit of local communities.

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The great satisfaction of two ministers for the day’s event was to finally see local communities impacted by mining projects benefit from substantial financial benefits for their development. A salutary measure which thus puts an end to the paradox “DRC-very rich country with a very poor population”. The endowment of 0.3% for the benefit of local communities will generate significant financial resources that require orthodox management under the supervision of a specialized body with legal personality. For better monitoring and evaluation of this management, a procedure manual is planned, which… Read More Here
Gold near highest since November as traders seek inflation hedge 7 Gold International 

Gold near highest since November as traders seek inflation hedge

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Gold held near the highest level in almost two months amid demand for an inflation hedge, while the bond market sell-off stalled and US equities continued to retreat. President Joe Biden said it’s the Federal Reserve’s job to rein in the fastest pace of inflation in decades, and supported the central bank’s plans to scale back monetary stimulus. The yield on 10-year Treasuries slipped from the highest level since January 2020, while the S&P 500 fell 1% Wednesday. Geopolitical tensions are also supporting demand for the haven asset. Biden said he thinks Vladimir Putin… Read More Here
SRK appoints Sambwa as DRC chair 8 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 9 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 10 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

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