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Barrick says Mali mines unaffected by ECOWAS sanctions

January 11, 2022January 11, 2022 admin

Barrick Gold, which owns Mali’s biggest gold mine complex Loulo-Gounkoto, said on Monday its mines in the country have “thus far not been affected” by sanctions imposed by the Economic Community of West African States. The 15-state regional bloc imposed tough economic sanctions, and said it would also shut borders and sever diplomatic ties, in response to Mali’s delay in holding elections following a 2020 military coup. Barrick said its mines had sufficient stocks and stores to continue operating normally, adding however that the situation was “very fluid” and it was… Read More Here

Copper Mining in DRC New Mining Projects

Ivanhoe Mines Provides 2022 Production and Cost Guidance for Kamoa-Kakula Copper Complex

January 10, 2022January 10, 2022 admin

Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) Executive Co-Chair Robert Friedland announced today, ahead of the inaugural Future Minerals Forum, that the 2022 annual production guidance for the Kamoa-Kakula Copper Complex in the Democratic Republic of Congo (DRC) is between 290,000 and 340,000 tonnes of copper in concentrate. The figures are on a 100%-project basis and metal reported in concentrate is prior to refining losses or deductions associated with smelter terms. The guidance range for cash costs (C1) per pound of payable copper in 2022 is between $1.20 and $1.40 per pound of payable copper. Cash… Read More Here

Mining in Zambia Safety & Health

First Quantum sets out vaccination policy for Zambia mines

January 10, 2022January 10, 2022 admin

First Quantum Minerals has clarified Covid-19 vaccination protocols at its Kansanshi mine, in Solwezi, and its Sentinel mine, in Kalumbila, both in Zambia. It is also calling on all citizens to be vaccinated, in support of the Zambian government’s efforts to drive vaccination rates in the country. The protocols are aimed at encouraging all employees and contractors to be vaccinated, while also respecting everyone’s right to decide whether they get vaccinated. The company will require those working in close proximity to others to be vaccinated. Only those who are vaccinated will be… Read More Here

Uncategorized

BHP backs Tanzanian critical minerals project

January 10, 2022January 10, 2022 admin

Diversified major BHP will make a $90-million investment into private firm Kabanga Nickel to accelerate the development of the Kabanga nickel project, in Tanzania. Kabanga Nickel on Monday announced an initial $40-million investment by the miner, which will convert into an 8.9% equity stake in Kabanga Nickel once approvals and conditions are met. Once invested and on conversion the second tranche of $50-million will increase BHP’s equity stake in Kabanga Nickel to 17.8%, thereby valuing the project at $658-million. On satisfaction of additional conditions, BHP will secure the right to… Read More Here

Mining in Zambia Gemstones

Kagem spearheads new transparency measure on tax

January 10, 2022January 11, 2022 admin

Gemfields, which operates the Kagem emerald mine in Lufwanyama, is inviting governance bodies, mining organisations, industry observers and host governments to adopt the ‘G-Factor for Natural Resources’. This is a new measure promoting greater transparency regarding the level of natural resource wealth shared with the governments of host countries. The G-Factor for Natural Resources is intended to be an uncomplicated indicator of the percentage of a natural resource company’s revenue that is paid to the host country government in primary and direct taxes, plus – where the host government is… Read More Here

Iron Ore International

Iron ore price extends gains on China demand hopes

January 7, 2022January 7, 2022 admin

Iron ore rose on Friday as traders returned from the New Year holidays feeling optimistic about potential demand recovery in China. According to Fastmarkets MB, benchmark 62% Fe fines imported into Northern China were changing hands for $128.03 a tonne during morning trading, up 0.3% compared to Thursday’s closing, the highest since October 12. Iron ore’s most-active May contract on China’s Dalian Commodity Exchange ended daytime trading 1.4% higher at 719 yuan ($112.78) a tonne, rising for a fourth straight session and touching 725.50 yuan earlier in the day. “The… Read More Here

Gold International

Gold price slides to 1-week low on hawkish Fed signal

January 7, 2022January 7, 2022 admin

Gold prices slid to a one-week low on Thursday, pressured by a rallying dollar and bond yields after the US Federal Reserve signalled quicker increases to interest rates. Spot gold declined 1.1% to $1,789.20 an ounce by 12:10 p.m. EDT, its lowest since Dec. 29. US gold futures on the Comex were down nearly 2.0%, trading at $1,789.00 an ounce. The Fed minutes released on Wednesday showed officials had discussed shrinking the central bank’s overall asset holdings, as well as raising rates sooner than expected to fight inflation. As a result, the… Read More Here

Copper International

Copper price set for the biggest weekly decline since November

January 7, 2022January 7, 2022 admin

Copper price rose on Friday, supported by a rebound in equities and tight supply, but a firmer dollar and expectations of an early US interest rate hike kept the metal on track for its biggest weekly decline since November. March delivery contracts were exchanging hands for $4.39 a pound ($9,658 a tonne) on the Comex market in New York, up 0.9% compared to Thursday’s closing. The most-traded February copper contract on the Shanghai Futures Exchange was down 0.5% at 69,560 yuan ($10,910.69) a tonne. “Market sentiment improved a little bit… Read More Here

Gold

Osino acquires Namibia gold project from B2Gold for $15.2m

January 7, 2022January 7, 2022 admin

Gold exploration and development company Osino Resources has entered into an agreement to acquire the Ondundu gold exploration property, in Namibia, from TSX-listed B2Gold for $15.2-million. The Ondundu gold project is located 250 km northwest of Windhoek. “We believe this is a highly accretive transaction for Osino, as it provides significant additional scale, diversification and consolidation of Osino’s Namibian projects. “We plan to build on the excellent exploration and resource development work B2Gold completed over the past six years and to quickly advance the project to compliant resource stage,” says Osino president and CEO Heye Daun. “Based on the project’s historical exploration and analysis, we believe the project has the type of mineralisation with potential… Read More Here

Mining in DRC Mining Companies

DRC: Félix Tshisekedi’s stops interventionism by Minister of Finance in Tenke Fungurume’s reserve assessment file

January 7, 2022January 7, 2022 admin

The presidency of the Democratic Republic of the Congo, through the director of cabinet Guylain Nyembo, acting as president of the ad hoc committee set up by the Head of State with the aim of evaluating the partnership between CMOC (Chinan Molybdenum Co ) and Gécamines through the Tenke Fungurume joint venture, in a correspondence dated January 3, 2022 addressed to the CEO of CMOC, made an update and at the same time reframed the Minister of Finance, Nicolas Kazadi, who interfered in this matter. “It is with regret and… Read More Here