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Continued suspension of Kasenseli gold mine puts central bank’s gold reserve build-up in jeopardy 1 Gold Mining in Zambia 

Continued suspension of Kasenseli gold mine puts central bank’s gold reserve build-up in jeopardy

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The new Mines Minister Paul Kabuswe’s continued suspension of the Kasenseli gold mine operating license, and thus mining activities, from late October 2021 put the central bank’s gold reserve build-up target for 2021 in jeopardy. Since the gold-buying program began in January this year, the Bank of Zambia (BoZ) has spent approximately US$37 million on refined gold from First Quantum’s Kansanshi mine. Kasenseli Gold Mine’s operations in Mwinilunga, North-Western Province, were halted after a Ministerial directive from the Minister of Mines and Minerals Development to do so to address concerns… Read More Here
Metso Outotec awarded with more than 100 new Life Cycle Services agreements in 2021 2 International Mining technology 

Metso Outotec awarded with more than 100 new Life Cycle Services agreements in 2021

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Metso Outotec has experienced substantial growth in its Life Cycle Services (LCS) business by capturing more than 100 new customer agreements during 2021. The customer base for the new agreements covers global and regional mining companies and large as well as mid-size quarries and aggregates contractors. An LCS agreement is typically signed for a 12-month period but can also cover multiple years of cooperation. Metso Outotec is a market leader in providing unique Life Cycle Services programs for its customers. Through its deep knowledge of the entire customer process and… Read More Here
Copper price rises while Commerzbank sees setback in 2022 3 Copper International 

Copper price rises while Commerzbank sees setback in 2022

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The copper price rose on Wednesday, still buoyed by high Chinese imports. China’s copper imports in November were up for a third straight month, customs data showed, hitting their highest since March. March delivery contracts were exchanging hands for $4.38 a pound ($9,636 a tonne) by midday on the Comex market in New York, up 1.1% compared to Tuesday’s closing. However, copper is set to lose momentum as supply increases in the next months. Market to be well supplied in 2022 The global refined copper market is expected to be in a… Read More Here
Ivanhoe Mines secures $300m in stream financing for Platreef 4 Copper 

Ivanhoe Mines secures $300m in stream financing for Platreef

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Ivanhoe Mines (TSX: IVN; OTCQX: IVPAF) Executive Co-Chair Robert Friedland and President Marna Cloete are pleased to announce that the company’s South African subsidiary, Ivanplats, has concluded stream-financing agreements with Orion Mine Finance and Nomad Royalty Company for a US$200 million gold-streaming facility and a US$100 million palladium- and platinum-streaming facility for its world-scale Platreef palladium-rhodium-platinum-nickel-copper-gold project in Limpopo Province, South Africa. The proceeds will be used to advance the first phase of Platreef’s mine development, with commercial production expected in 2024. The definitive feasibility study for Platreef’s phased development… Read More Here
Mine modernisation 'key to stopping mine deaths' 5 Mining safety 

Mine modernisation ‘key to stopping mine deaths’

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Mining companies in South Africa should adopt technologies and solutions that enable mine modernisation to improve safety measures for workers, according to attendees of MineSafe 2021. A stakeholders’ statement from the Minerals Council of South Africa said companies had agreed to adopt technologies that help adopt safety leading practices, such as collision prevention systems, to address “transport-related risks,” in pursuit of ‘Zero Harm’ production. Additionally, stakeholders agreed to accelerate the adoption of production technologies like faster rock drills to shorten the mining cycle and drilling outside the box cut, which… Read More Here
Copper price up as China imports rise 6 Copper International 

Copper price up as China imports rise

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Copper prices rose on Tuesday after China’s central bank eased monetary policy and as imports into the world’s top metals consumer climbed in November. The People’s Bank of China said on Monday it would cut the amount of cash that banks must hold in reserve, releasing the funds in long-term liquidity to bolster slowing economic growth. “China’s policy easing has sparked optimism; meanwhile, we have probably seen the worst in the property market,” said ING analyst Wenyu Yao. Meanwhile, China’s copper imports in November rose for a third straight month,… Read More Here
Metso Outotec targets green steel with Circored 7 Equipment & Technology International Mining technology 

Metso Outotec targets green steel with Circored

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Metso Outotec has launched the next generation of the 100% hydrogen-based Circored process for fine ore production to continue its decarbonisation offering for the steelmaking industry. The company said the process uses hydrogen as a reducing agent instead of energy produced from fossil fuels, allowing the iron and steel industry to “efficiently tackle the decarbonisation challenge.” The flexible Circored process produces highly metalized DRI (direct reduced iron) or HBI (hot briquetted iron) that can directly be used as feed material in electric arc furnaces for carbon-free steelmaking, it explained. The process… Read More Here
Barrick’s Bulyanhulu acquires six new prospecting licences in Tanzania 8 Gold 

Barrick’s Bulyanhulu acquires six new prospecting licences in Tanzania

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Twiga Minerals, a joint venture between Barrick and the Government of Tanzania, announced on Tuesday the acquisition of new prospecting licences in Tanzania by Bulyanhulu Gold Mine Limited, a subsidiary of Barrick. Bulyanhulu has entered into a binding agreement with Barrick Gold (NYSE: GOLD)(TSX: ABX), Tembo Gold Corp, and the Mineral Industry Promotion and Consulting Company Limited, a wholly-owned subsidiary of Tembo, for the acquisition. Bulyanhulu will acquire from MIPCCL a 100% interest in six prospecting licences located in areas adjacent to the Bulyanhulu mine and have the potential to… Read More Here
De Beers to explore for diamonds in Angola 9 Diamond 

De Beers to explore for diamonds in Angola

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De Beers, the world’s largest diamond miner by value, said on Tuesday it had applied to conduct exploration activities in north-eastern Angola, following reforms implemented by the country’s government to boost the sector. The company, a unit of Anglo American (LON: AAL), and the country authorities will start discussions around a mineral investment contract, De Beers said. The agreement would set legally binding terms and conditions to be met by both parties for activities in north-eastern. The nation’s diamond industry, which began a century ago under Portuguese colonial rule, is successfully emerging from a… Read More Here
Gemfields' latest emerald auctions generate a record $37.9m in revenue 10 Gemstones Mining in Zambia 

Gemfields’ latest emerald auctions generate a record $37.9m in revenue

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A series of five emerald mini-auctions in November and December has generated a record $37.9-million in revenue for gemstone miner Gemfields. All carats on offer were sold and the emeralds, produced at the company’s 75%-owned Kagem mine, in Zambia, were sold for an average of $150.65/ct. Among the emeralds on auction was the 7 525 ct Chipembele  emerald recovered at the Kagem mine. It is the largest emerald ever to be recovered at the mine. Longstanding Kagem customer Eshed-Gemstar bought the Chipembele emerald. “Our end-of-year emerald auction has been one of the most hotly contested… Read More Here

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