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De Beers makes diamond buyers cough up cash with fresh price rise

January 18, 2022January 18, 2022 admin

De Beers has implemented its biggest price increase for diamonds in years as the industry consolidates its recovery from the first pandemic-induced shutdowns. The Anglo American unit hiked prices by about 8% at its first sale of the year, according to Bloomberg. The sharpest increases of up to 20% were for smaller, cheaper stones. The changes at the January sight, which runs from Monday to Friday this week, reflected buoyant polished sales during the recent US festive period, as well as a hot rough market. The company increased the price of… Read More Here

Gold International

Gold steady as investors weigh policy outlook, omicron concerns

January 17, 2022January 17, 2022 admin

Gold was steady as investors weighed the outlook for tighter monetary policy and the threat of the omicron virus variant to the global economic recovery. Billionaire investor Bill Ackman said the Federal Reserve is losing its battle against inflation and should raise its key interest rate by a bigger-than-expected 50 basis points in March to “restore its credibility.” Facing pressure from Congress and the public to tackle the hottest inflation since the 1980s, a chorus of officials this month floated raising rates in March and the potential need to hike as many… Read More Here

Gold International

Barrick Gold estimates set the price of an ounce of gold above 1700 USD in 2022

January 17, 2022January 17, 2022 admin

According to Mark Bristow, Gold should trade between 1750 US dollars and just over 1800 USD per ounce in 2022. A declaration made in Riyadh, on the sidelines of the first major mining conference in Saudi Arabia. The boss of Barrick Gold believes that the risks of falling gold prices in 2022 are lower. “I don’t think there’s a lot of downside risk,” he explained. Meanwhile, other analysts see gold falling considerably this year, in particular because of the increase in the key rate of the American Federal Reserve, which would… Read More Here

Mining in Zambia Uranium

GoviEx encourages African uranium-producing countries to seize market opportunity

January 17, 2022January 17, 2022 admin

The mining company GoviEx Uranium, active in Niger, Zambia and Mali, considered that the recent social unrest in Kazakhstan represents an opportunity to be seized for African uranium-producing countries. Indeed, Kazakhstan is a key player in the uranium market with 40% of the world supply. But the country is sinking into a social crisis following the riots that broke out at the start of 2022, at the risk of creating disruptions in its uranium supply chain. This type of situation may, however, encourage buyers to diversify their sources of supply, with… Read More Here

Equipment & Technology Mining technology

Metso Outotec to start next phase in the development of its Metals business

January 17, 2022January 17, 2022 admin

Metso Outotec will take the next structural development steps in its business portfolio, following the completed integration of its Minerals business and the successful turnaround of its Metals business. Metso is a process technology, equipment and services company serving the minerals, metals and aggregates industries. The company plans to change its business area structure and related reporting segments by transferring the Hydrometallurgy business from Metals to Minerals. The objective of the change is to accelerate Metso’s profitable growth in the minerals processing industry by more efficiently leveraging the opportunities and… Read More Here

Equipment & Technology Mining technology

Hitachi to sell half its digger unit stake for $1.6 billion

January 14, 2022January 14, 2022 admin

Japanese industrial conglomerate Hitachi Ltd. will sell about half of its stake in its construction machinery unit to a group including Itochu Corp. for 182.5 billion yen ($1.6 billion). The company will sell a 26.1% holding in Hitachi Construction Machinery Co. for 3,300 yen a share in June, Tokyo-based Hitachi Ltd. said Friday in a statement. That’s a premium to its closing price of 2,976 yen. Hitachi will retain a 25.4% stake after the sale, which also includes Japan Industrial Partners Inc. as a buyer. For Hitachi, the sale is… Read More Here

Mining Careers Mining in Zambia

ARTISAN HER- EXCAVATORS | MINING CAREER AT FQM, KALUMBILA, SOLWEZI, ZAMBIA

January 14, 2022January 14, 2022 admin

Requisition Number: JR4493| Country: Zambia | Contract Type: On-going| Location: Solwezi | Category: Mining Apply now Job Purpose To safely execute all maintenance repairs on all heavy equipment on site according to the prescribed standards while ensuring the safety of self and others. Responsibilities Maintains diesel equipment operation by completing inspections and preventive maintenance requirements. Examine parts for damage or excessive wear, using micrometers and gauges Keeps equipment available for use by inspecting and testing vehicles; completing preventive maintenance such as, engine tune-ups, oil changes, tire rotation and changes, wheel balancing, replacing filters. Diagnose faults or malfunctions to determine… Read More Here

Mining Careers

ARTISAN HER- TRUCKS | MINING CAREER AT FQM, KALUMBILA, SOLWEZI, ZAMBIA

January 14, 2022January 14, 2022 admin

Requisition Number: JR4458| Country: Zambia | Contract Type: On-going| Location: Solwezi | Category: Mining Apply now Job Purpose To safely execute maintenance work according to the prescribed standards while ensuring the safety of self and others Responsibilities Keeps equipment available for use by inspecting and testing vehicles; completing preventive maintenance such as, engine tune-ups, oil changes, tire rotation and changes, wheel balancing, replacing filters. Maintains vehicle functional condition by listening to operator complaints; conducting inspections; repairing engine failures; repairing mechanical and electrical systems malfunctions; replacing parts and components; repairing body damage. Verifies vehicle serviceability by conducting test drives; adjusting… Read More Here

Mining in DRC Mining Companies

DRC: The mining royalty paid by companies amounted to 951.42 million USD for the first half from 2018-2020

January 14, 2022January 14, 2022 admin

From 2018 to the first half of 2020, the mining royalty paid by companies working in this sector to the Public Treasury, the Mining Fund for Future Generations (FOMIN), the Provinces and Decentralized Territorial Entities (ETD) amounted to 951.42 million of US dollars. Of the total amount paid by companies, 589.5 million USD was paid to the National Public Treasury, 225.1 million USD paid to the Provinces and 112.5 million USD collected by the Decentralized Territorial Entities. This is what emerges from the Relaxed Report 2018, 2019 and 1st Quarter 2020… Read More Here