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Gold gains as dollar, yields ease; traders focus on U.S. inflation data 1 Gold International 

Gold gains as dollar, yields ease; traders focus on U.S. inflation data

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Gold prices rose on Tuesday, supported by a weaker U.S. dollar and Treasury yields, as traders awaited December inflation data and weighed bets for quicker interest rate hikes by the Federal Reserve. Spot gold rose 0.4% to $1,809.22 per ounce by 0723 GMT. U.S. gold futures were up 0.6% to $1,808.80. “Pullback in both the U.S. dollar and 10-year treasury yields are supporting gold prices, but the fact that markets are still seeing three to four interest rate hikes this year is limiting the upside potential,” said Margaret Yang, a… Read More Here
DRC: Busanga becomes the first hydroelectric dam in Katanga thanks to SICOMINES SA 2 Mining in DRC Energy 

DRC: Busanga becomes the first hydroelectric dam in Katanga thanks to SICOMINES SA

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If it could be told, the story would say that there once was, in the heart of the country-continent called “Democratic Republic of Congo”, a hydroelectric power station which had been built 110 km from Kolwezi, capital of Lualaba, one of the four provinces forming the Grand Katanga considered as the mining lung of the country. “This project is a support for the SICOMINES mining project resulting from the Collaboration Agreement between the DRC and China to build infrastructure for socio-economic development in the DRC. It is also the first major… Read More Here
Mining contractor for Bibiani gold mine announced 3 Gold 

Mining contractor for Bibiani gold mine announced

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CSE-listed Asante Gold Corporation has appointed PW Mining (Ghana) to conduct mining activities at its Bibiani Mine. Open pit mining operations will start in February, to include development of satellite pits and provide feed material to the Process Plant from Q2 2022. Main pit development, to its planned ultimate +350 metres depth in 2029, includes a 4-stage cut back programme.  Total material movement will be up to 75 Mtpa.  PW Mining will mobilise up to 125 units of heavy equipment, including drills, excavators, haulage trucks, bulldozers, and ancillary equipment. Site establishment includes… Read More Here
Alphamin’s tin output up 10% q/q, cash up 6 486% 4 Mining in DRC Tin 

Alphamin’s tin output up 10% q/q, cash up 6 486%

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JSE- and TSX-V-listed tin miner Alphamin Resources, which owns and operates the Mpama North mine in the Democratic Republic of Congo, increased its contained tin production by 10% quarter-on-quarter to 3 114 t in the fourth quarter ended December 31. A producer of 4% of the world’s mined tin, the miner also increased its contained tin sales during the period by 13% to 3 056 t, while its earnings before interest, taxes, depreciation and amortisation guidance was a record $74-million – up 38% from the third quarter. Quarter-on-quarter, Alphamin’s net cash increased… Read More Here
Barrick says Mali mines unaffected by ECOWAS sanctions 5 Mining Companies 

Barrick says Mali mines unaffected by ECOWAS sanctions

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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
Ivanhoe Mines Provides 2022 Production and Cost Guidance for Kamoa-Kakula Copper Complex 6 Copper Mining in DRC New Mining Projects 

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

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 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
First Quantum sets out vaccination policy for Zambia mines 7 Mining in Zambia Safety & Health 

First Quantum sets out vaccination policy for Zambia mines

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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
BHP backs Tanzanian critical minerals project 8 Uncategorized 

BHP backs Tanzanian critical minerals project

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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
Kagem spearheads new transparency measure on tax 9 Mining in Zambia Gemstones 

Kagem spearheads new transparency measure on tax

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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 price extends gains on China demand hopes 10 Iron Ore International 

Iron ore price extends gains on China demand hopes

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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

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