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Liangang Li appointed as MMG interim CEO & Executive Director 1 Mining in DRC Mining Personality 

Liangang Li appointed as MMG interim CEO & Executive Director

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MMG is pleased to announce that Mr Liangang Li has been appointed as interim Chief Executive Officer and an Executive Director of the Company. Mr Jerry Jiao will also return to the position of Chairman, a post he held from August 2014 to February 2017. Both Jerry and Liangang bring extensive industry experience and were directors at the beginning of MMG almost 12 years ago, with Jerry also a former chair and CEO. Liangang, has been on the executive team of the Company for the last two years and before on… Read More Here
Red Rock receives payment order for VUP project 2 Cobalt Copper Mining in DRC 

Red Rock receives payment order for VUP project

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Natural resource development company Red Rock Resources has obtained an order from the Commercial Court in Lubumbashi, in the Democratic Republic of Congo (DRC), instructing VUP SA, the company’s joint venture (JV) partner in the VUP project, to pay $2.5-million as a principal amount to Red Rock. The company’s claim for interest and damages of $11-million was heard on January 6, with a judgment expected within eight days. As announced in 2019, Red Rock, through its local subsidiary had signed a JV agreement with VUP formalising a JV over certain… Read More Here
Central Copper expands DRC copper portfolio 3 Copper Mining in DRC 

Central Copper expands DRC copper portfolio

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UK-headquartered Central Copper Resources (CCR) has acquired 100% ownership of Titan Mining & Exploration, which holds 78% of the Kayeye project, in the Democratic Republic of Congo (DRC). The project entails a licence area of 231 km2, adjacent to TSX-listed Ivanhoe Mines’ Kamoa-Kakula project. CCR says the acquisition adds to the company’s exploration potential for new copper discoveries, since it also has a 65% interest in Comilu, in the DRC, which owns the prefeasibility-level Mbamba Kilenda project and 12 additional licences covering 80 km of prospective strike. The company also… Read More Here
Copper price slips as dollar firms after Fed minutes 4 Copper International 

Copper price slips as dollar firms after Fed minutes

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Copper price fell on Thursday as the dollar firmed after the US Federal Reserve’s signaled that may raise interest rates sooner than expected. The Fed at its December meeting began plans to start cutting the amount of bonds it is holding, with members saying that a reduction in the balance sheet likely will start sometime after the central bank begins raising interest rates. “A very tight job market and unabated inflation might require the Fed to raise interest rates sooner than expected,” policymakers said, fuelling expectations of a rate hike in March.… Read More Here
Trigon produces first concentrate at Kombat mine in Namibia 5 Copper 

Trigon produces first concentrate at Kombat mine in Namibia

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Trigon Metals (TSXV: TM) has succeeded in restarting copper and silver concentrate production at the Kombat mine in Namibia, placing the project on track to meet commercial production targets by March. The restarted plant is expected to produce 4,000 tonnes of copper concentrate in 2022, and the achievement represents a significant de-risking of the mine. “A functioning mill is the primary technical hurdle in a mine’s operation, and that hurdle has been overcome at Kombat,” CEO Jed Richardson said in a news release. Teams worked through the holiday period to… Read More Here
Cobalt industry to get a big boost from the shift to a green economy – report 6 Cobalt International Mining in DRC 

Cobalt industry to get a big boost from the shift to a green economy – report

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The global cobalt supply chain is set to remain highly geographically concentrated in the coming years — in the DRC for mine production and in China for refining — which will likely pose procurement challenges for battery manufacturers, market analyst Fitch Solutions finds in its latest industry report. Yet the global cobalt industry is set to receive a significant boost from the worldwide shift to a green economy, Fitch says, as the ferromagnetic blue metal is a key component of rechargeable batteries and valued for its stability, hardness, anti-corrosion and high-temperature resistance characteristics. Used… Read More Here
Zambia: UPND Government to find competent investor to take over KCM- Mines Minister 7 Mining Companies Mining in Zambia 

Zambia: UPND Government to find competent investor to take over KCM- Mines Minister

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Minister of Mines and Minerals Development, Paul Kabuswe has said that the UPND Government will find a competent investor, to take over Konkola Copper Mines (KCM) on the Copperbelt once the liquidation process of the mine comes to an end. Addressing KCM workers, who wrote a petition to President Hakainde Hichilema, Mr. Kabuswe said consultations are underway on which investor will take over the mining giant. The Mines Minister said Government is aware of the operational challenges that resulted in ruining the welfare of thousands of workers and their families.… Read More Here
Sunresin’s Ruashi Cobalt Extraction Project started up in DR Congo 8 Cobalt Mining in DRC 

Sunresin’s Ruashi Cobalt Extraction Project started up in DR Congo

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On December 30, 2021, good news came from the Democratic Republic of Congo in Central Africa. The Ruashi cobalt extraction project undertaken and fully operated by Sunresin was officially put into production and successfully produced the first batch of cobalt products. From project design, skid manufacturing to construction of the plant, equipment installation, on-site and remote commissioning, Sunresin takes charge of the project in a one-stop-shop fashion. The successful commissioning of the project marks a big step for Sunresin, in the spirit of innovation, to carry out comprehensive overseas EPC projects in hydrometallurgy, by overcoming numerous difficulties at… Read More Here
IDC takes steps to restructure ZESCO, seeks to split firm into three separate units 9 Energy Mining in Zambia 

IDC takes steps to restructure ZESCO, seeks to split firm into three separate units

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The Industrial Development Corporation has announced plans to restructure state power utility ZESCO. Through a tender published in the Daily Mail of Tuesday, January 4th 2022, the IDC wants to engage a Consultant who will undertake financial and operational restructuring of ZESCO. The IDC says the Consulant should also assess the possibility of segregating ZESCO’s main divisions such as generation, transmission and distribution into separate units. IDC stated that the splitting of ZESCO should not only provide financial relief by disposing off loss making assets but will also enhance control… Read More Here
Copper price down, pressured by stronger dollar 10 Copper International 

Copper price down, pressured by stronger dollar

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The copper price fell on Tuesday pressured by a stronger dollar. March delivery contracts were exchanging hands for $4.40 a pound ($9,680 a tonne) on the Comex market in New York, down 0.4% compared to Monday’s closing. Copper price on the Shanghai Futures Exchange ended daytime trading 0.5% higher at 70,380 yuan ($11,043.46) a tonne. Shanghai copper benchmark has gained more than 20% this year. The most-traded February copper contract on the Shanghai Futures Exchange fell 0.5% to 69,760 yuan ($10,948.07) a tonne. The dollar index held firm, after rising 0.6% in the… Read More Here

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