Copper price down despite supply scarcity concerns
Copper prices fell on Tuesday despite worries about shortages. Copper for delivery in December was down 0.6% on the Comex market in New York, touching $4.37 per pound ($9,614 per tonne) on Tuesday afternoon. “The market is concerned about lack of supplies going forward,” said Ole Hansen, head of commodity strategy at Saxo Bank in Copenhagen. “These key metals are desperately needed not only in the green transformation push but in these infrastructure plans that are being unveiled.” The $1 trillion US infrastructure bill passed last week will fund bridge and…
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KCM CEO CHRISTOPHER SHEPPARD RETIRES FROM THE COMPANY
KONKOLA Copper Mines (KCM) has announced that its chief executive officer Christopher Sheppard has retired and will be leaving the company on November 12, 2021. In a statement, Tuesday, KCM provisional liquidator Milingo Lungu said Enock Mponda had been appointed as acting CEO and would also act as CEO for KCM SmelterCo Limited while Moses Chilambe had been appointed to act as CEO for Konkola Mineral Resources Limited (KMRL). “Konkola Copper Mines Plc (KCM) informs its business partners and stakeholders that the Chief Executive Officer, Mr Christopher Sheppard, has retired.
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Alphamin progresses DRC exploration, identifies cassiterite intercepts at Mpama North
Dual-listed Alphamin Resources, which produces about 4% of the world’s mined tin from its operations in the Democratic Republic of Congo (DRC), has identified a strike extension at its Mpama North mine, from visual cassiterite drilling intercepts. Additionally, the Mpama South high-grade assay results were received and now include drilling intercepts within 200 m of the Mpama North orebody. Indications following these results note that Mpama South and Mpama North are zones of high-grade mineralisation offset and displaced by a fault, and that the areas now have the potential for…
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Team Caterpillar Develops First Fully Autonomous Water Truck
According to Craig Watkins, MineStar Commercial Manager, “We are all working towards the autonomous mine of the future.” Why? Because for mining customers operating trucks in remote and rugged environments, autonomous and fleet monitoring solutions like MineStar keep operators safe and mining operations running better than ever. When an important mining customer requested autonomous technology to be applied to water trucks on their site in addition to the mining trucks themselves, Team Caterpillar got to work developing the first fully autonomous water truck, the 789D. Product engineers and software developers…
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DRC: Ventora Development denounces a smear campaign against Dan Gertler
In an official press release received by DESKECO, the Ventora Development company denounces the harmful action of “well-known individuals with dubious motives” who are at the origin of the demonization campaign of which she is the victim as much as Dan Gertler who is presented as scapegoat and their business. Ventora development clearly maintains that it reserves the right to bring them to justice at the appropriate time and place for damaging accusations and slanderous denunciations. In addition, the Ventora development group says it has taken note of the complicit…
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DRC: Minister of Mines appoints two new directors at the Mining Cadastre
The Minister of Mines, Antoinette N’samba Kalambayi provisionally appoints two internal executives of the Mining Cadastre, René Kazadi Mbuebue and Jean-Marie Isazu to the vacant positions of Technical Director and Financial Director. This is what his letter of November 01, 2021 informs. “ Her Excellency, Madam Minister of Mines has appointed, on a provisional basis, among the internal executives, Mr René KAZADI MBUEBUE and Jean Marie ISAZU respectively to the vacant positions of Technical Director and Financial Director of the Mining Cadastre in accordance with his organization chart in force…
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Eve Bazaïba calls for realistic compensation for DRC’s strategic minerals
The Democratic Republic of Congo takes an active part in the great climate conference (COP26) in Glasgow, United Kingdom. It was held, Monday, November 08, during these meetings, the event on the “mining sector of the DRC facing the energy transition”. It was the Deputy Prime Minister, Minister of the Environment and Sustainable Development, Eve Bazaïba who chaired this event in the presence of several guests from the world of politics, business, the mining sector and civil society. Eve Bazaiba, who returned to the major challenges of the DRC’s participation in this…
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Copper price rises on strong export growth in China
The copper price rose on Monday as worries about demand in top consumer China were offset by strong export growth data from the country. Copper for delivery in December was up 1.6% on the Comex market in New York, touching $4.41 per pound ($9,702 per tonne) on Monday afternoon. China’s export growth beat forecasts, helped by booming global demand ahead of the winter holiday season, an easing power crunch and an improvement in supply chains that have been badly disrupted by the pandemic. Outbound shipments jumped 27.1% in October from…
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Gemfields finds largest emerald ever at Zambia mine
Africa-focused Gemfields has found the largest emerald ever mined at its Kagem mine in Zambia — a 7,525-carat (1,505g) gemstone named Chipembele, which means “rhino” in the local dialect of Bemba. While no official record exists, it is extremely unusual to encounter a gemstone weighing more than 1,000 carats and only a couple of dozen unique enough to deserve their own name. The last time a comparable emerald was found was in 2018, when Gemfields unearthed the 5,655-carat Inkalamu, meaning “lion”. Prior to that, the company had dug up a 6,225-carat emerald in 2010, which…
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