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Galileo signs option agreement to earn 51% interest in Zambia copper/gold project 1 Mining in Zambia Copper Gold 

Galileo signs option agreement to earn 51% interest in Zambia copper/gold project

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Aim-listed Galileo Resources has entered into an option and joint venture (JV) agreement with Garbo Resource Solutions to earn an initial 50% interest in the Shinganda copper/gold project, in Zambia. Galileo has committed to spending $500 000 on exploration and evaluation at Shinganda over a two-year period. “This project fits the Galileo model in that the licence areas have good copper and gold intersections from previous campaigns. The agreement gives us the opportunity for new deposit discovery and/or small mine production potential. “We look forward to working on this project commencing early in the New Year,” Galileo CEO Colin Bird says. Galileo plans to review past exploration data and undertake… Read More Here
DRC mining reserves have not been undervalued in Sino-Congolese contracts, says BCPSC 2 Mining in DRC Mining Policy 

DRC mining reserves have not been undervalued in Sino-Congolese contracts, says BCPSC

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The communication service of the Sino-Congolese Program Coordination and Monitoring Office (BCPSC), Monday, December 6, provided an update on the alleged corrupt practices in which structures and certain Sino-Program officials are said to have become involved. Congolese, according to the Congo Hold-Up survey. The latter dwelled on the projects of the Sino-Congolese program, in particular mining, infrastructure projects and the Busanga hydroelectric power station. The BCPSC communication service specifies that the Busanga Project does not enter into the accounts of SICOMINES. “SICOHYDRO, BUSANGA hydroelectric power station is a private project carried… Read More Here
Vedanta to support Zambia on green energy transition goals 3 Energy Mining in Zambia 

Vedanta to support Zambia on green energy transition goals

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Natural resources company Vedanta intends to support the Zambian government in its green energy transition goals, it confirmed on December 7. This decision was bolstered by the steps already taken by the government, including the appointment of the country’s first Green Economy and Environment Minister Collins Nzovu in September, and is aligned to the further initiatives that have been presented, it said in a statement. Vedanta pointed out that demand for electricity in the country has been increasing over the last few years, while generation capacity remains stagnant, resulting in “instability in… Read More Here
MULTIPLE POSITIONS | MINING CAREERS AT ZCCM-IH INVESTMENT HOLDINGS, LUSAKA, ZAMBIA 4 Mining Careers Mining in Zambia 

MULTIPLE POSITIONS | MINING CAREERS AT ZCCM-IH INVESTMENT HOLDINGS, LUSAKA, ZAMBIA

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Apply now ZCCM Investments Holdings PLC is an investments holdings company with diversified interests in mining, energy, and other sectors of the Zambian economy.  The Company’s majority shareholder is the Industrial Development Corporation Ltd (IDC), an investment company wholly owned by the Zambian Government and the rest of the shareholders include institutions and private shareholders spread across the world. The mission of the Company is to “to maximize shareholder value with due regard to the interests of all stakeholders”.  In order to achieve this mission, the Company invites applications from… Read More Here
Gold holds advance as virus adds to risks for global growth 5 Gold International 

Gold holds advance as virus adds to risks for global growth

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Gold held onto Friday’s gain amid risk-off sentiment as investors weigh mixed labor data from the US, the Federal Reserve’s hawkish tilt and the threat of the omicron variant. Data Friday showed US job growth registered its smallest increase this year while the unemployment rate fell by more than forecast to 4.2%, offering a mixed picture that may nevertheless push the Fed to quicken the wind-down of pandemic stimulus. It came after Chair Jerome Powell signaled faster tapering of asset purchases amid elevated inflation. Meanwhile, Goldman Sachs Group economists cut their forecasts for the… Read More Here
Ivanhoe’s Robert Friedland inducted into American Mining Hall of Fame 6 Mining Personality 

Ivanhoe’s Robert Friedland inducted into American Mining Hall of Fame

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TSX-listed Ivanhoe Mines founder and executive co-chairperson Robert Friedland has been inducted into the American Mining Hall of Fame for accomplishments during his career in the international mining industry. The American Mining Hall of Fame recognises individuals who have demonstrated outstanding lifetime achievements advancing the American and/or global mineral resources industry. Friedland was presented with a bronze plaque with the inscription commemorating his significant accomplishments. The plaque read that Friedland “has been recognised by leaders of the international financial sector and mineral resource industries as an entrepreneurial explorer, technology innovator and company builder”. “He has successfully developed a portfolio of respected public and private… Read More Here
US slaps sanctions on DRC national over Gertler ties 7 Mining in DRC International 

US slaps sanctions on DRC national over Gertler ties

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The United States on Monday imposed sanctions on a Democratic Republic of Congo national it accused of providing support to Israeli mining magnate Dan Gertler, part of a policy to target corruption in the central African country. The U.S. Treasury Department accused Alain Mukonda in a statement of making payments into proxy bank accounts for Gertler following his designation in 2017. The Treasury said Mukonda made cash deposits totaling between $11 million and $13.5 million into accounts of companies he incorporated that ultimately belong to Gertler’s family. Washington’s designation of Mukonda was the first… Read More Here
Market: Cobalt jumps to over 63,000 USD per tonne this week from December 6 to 11, 2021 8 Cobalt Copper Gold Mining in DRC Zinc 

Market: Cobalt jumps to over 63,000 USD per tonne this week from December 6 to 11, 2021

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The market for merchant mining products for export from the Democratic Republic of the Congo is improving this week from December 6 to December 11, 2021, according to projections by experts from the National Mercurial Commission of the Ministry of Foreign Trade, which is piloted by the Minister Jean-Lucien Bussa. Cobalt remains higher and is trading this week around $ 63,145.00 per tonne versus $ 61,232.85 per tonne last week, showing a positive price differential of $ 1,912.15. Copper is also trending upward to $ 9,752.00 per tonne versus $… Read More Here
DRC: Léon Mubikayi appointed PCA of the Mining Fund 9 Mining in DRC Mining Personality 

DRC: Léon Mubikayi appointed PCA of the Mining Fund

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Léon Mubikayi Mubalamate is the new Chairman of the Board of Directors of the Mining Fund for Future Generations (Fomin). He was appointed this Friday, December 3 by the presidential ordinance. He will be accompanied by Faustin Biringanine, Director General of Fomin and Arlette Kabila Mawuwa, Marie Jacqueline Lumbu and Léon Mondole, all members of the Board of Directors of this institution. Long before occupying this post, Léon Mubikayi was national deputy of the UDPS / Tshisekedi and president of the CACH parliamentary group. Read More Here
Condra wins Africa crane order 10 Mining Supply Tenders Mining technology 

Condra wins Africa crane order

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Condra, a South Africa-based mine equipment supplier, won a contract to deliver six cranes, one portal and five double-girder overhead machines to a South African mine. The company said four of the six cranes ordered are identical 10-tonne overhead machines with spans of 6.5 metres, and two have already been delivered. Financial details of the deal were not disclosed.  The first was installed underground and commissioned on 24 November for maintenance duty on pumps, motors and other equipment – the remaining two 10-ton cranes will be completed this year to join… Read More Here

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