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Barrick posts lower third-quarter earnings 1 Gold International 

Barrick posts lower third-quarter earnings

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Canadian gold major Barrick on Thursday reported lower third-quarter adjusted earnings of $419-million – an 18% drop on its second quarter performance and 42% below that of a year earlier. Adjusted net earnings fell to $0.24 a share, from $0.29 a share in the second quarter and $0.41 a share in the third quarter of 2020. Barrick’s results have been weighed down by a retreat in the price of gold, which touched record levels last year amid concerns over Covid-19. The miner reported a realised gold price of $1 771/oz in… Read More Here
Tesla, Apple, Google, Microsoft dodge Congo cobalt class-action 2 Cobalt Mining in DRC 

Tesla, Apple, Google, Microsoft dodge Congo cobalt class-action

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Google parent Alphabet, Apple, Dell, Microsoft and Tesla won’t have to face a class action suit claiming the tech giants bear responsibility for the alleged use of child labour in Congo to mine cobalt, a key ingredient of batteries in electric cars and consumer electronics, a federal court in Washington ruled Tuesday. An NGO called International Rights Advocates launched the suit in December 2019, on behalf of more than a dozen families of children killed or hurt in the artisinal cobalt mines in the Congo, responsible for more than two-thirds… Read More Here
Iron ore price rebounds despite poor demand outlook 3 Iron Ore International 

Iron ore price rebounds despite poor demand outlook

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The iron ore price recovered some ground on Wednesday after it fell below $100 per tonne for the first time in nearly a year on Tuesday due to loose supply conditions and poor demand outlook. According to Fastmarkets MB, benchmark 62% Fe fines imported into Northern China were changing hands for $100.10 a tonne, up 4.5% from Tuesday’s closing. Benchmark iron ore futures on the Dalian exchange dipped 0.4% to 590 yuan ($92.18) a tonne.  Metals prices reached multi-year highs on supply fears in October, but the main driver now is arguably turbulence in… Read More Here
Copper bounces on scarce supplies and robust risk appetite 4 Copper International 

Copper bounces on scarce supplies and robust risk appetite

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Copper prices jumped on Wednesday on low inventories, healthy risk appetite and a brighter technical outlook. Three-month copper on the London Metal Exchange had gained 1.5% to $9 633.50 a tonne by 10:00 GMT, having lost about 8% since October 18. “We’ve had a very deep correction from the run-up in October and now it looks like we’re finally finding a plateau from where the market will stabilise,” said Ole Hansen, head of commodity strategy at Saxo Bank in Copenhagen. “Risk appetite seen through the stock market remains pretty robust and… Read More Here
Zambian emeralds to go on auction on Nov 23 5 Emeralds Mining in Zambia 

Zambian emeralds to go on auction on Nov 23

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International auction house Phillips will, this month, put on sale the largest collection of Zambian emeralds ever to be offered on auction. Part of the proceeds will go to the Gemfields Foundation, which supports community and conservation projects in Africa. The Treasures of Zambia: An Exceptional Emerald Collection comprises about 45 lots, including 993 ct of fine Zambian emeralds. The gemstones were mined by Gemfields, which owns the Kagem emerald mine together with the Zambian government. Phillips features some of the world’s most important twentieth-century and contemporary works of art, design jewels, watches, photographs and editions. The auction house is… Read More Here
Behind the 2021 Zambian National Budget- Michael Phiri explains 6 Mining in Zambia 

Behind the 2021 Zambian National Budget- Michael Phiri explains

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Enthusiasm was palpable during Friday’s reading of Zambia’s 2022 Budget by Minister of Finance, Hon. Mr. Situmbeko Musokotwane, who announced a wide range of intended measures to grow the economy and reign in overspending, several of which were met with cheers. Mining For Zambia asked Michael Phiri, Tax Partner at KPMG Zambia, to share his insights on the most noteworthy developments in this year’s Budget announcement, and what they mean for Zambia and its citizens. Were there any surprises, in terms of measures that you weren’t expecting the Minister of Finance… Read More Here
Gold prices slip on strong dollar as focus turns to Fed 7 Gold International 

Gold prices slip on strong dollar as focus turns to Fed

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Gold prices fell on Tuesday as the U.S. dollar and equities gained ahead of a much-awaited U.S. Federal Reserve meeting that could provide a timeline on interest rate hikes amid rising inflationary pressures. Spot gold was down 0.3% at $1,787.04 per ounce by 01:35 p.m. EDT. U.S. gold futures settled down 0.4% to $1,789.40. Persistent strength in equities ahead of Fed’s statement on Wednesday continues to weigh on safe-haven metals, said Jim Wyckoff, senior analyst at Kitco Metals. But recent concerns over inflation have limited the downside for gold and helped buying interest,… Read More Here
Market: This week, copper is trading at USD 10,045 per tonne, cobalt at USD 55,695 per tonne 8 Copper Cobalt Gold 

Market: This week, copper is trading at USD 10,045 per tonne, cobalt at USD 55,695 per tonne

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The general price trend of the main mining products of the DRC is up this week on the international market, according to projections by the Commission Nationale des Mercuriales, a structure of the Ministry of Foreign Trade. Among the commodities that are on the rise is cobalt which is trading this week at $ 55,695 per tonne versus $ 55,449 per tonne last week, a positive price spread of $ 146. Tin is also trending upward at $ 38,974 per tonne this week versus $ 38,730 per tonne last week,… Read More Here
TRAINER-FABRICATION | MINING CAREERS AT BARRICK LUMWANA, ZAMBIA 9 Mining Careers Mining in Zambia 

TRAINER-FABRICATION | MINING CAREERS AT BARRICK LUMWANA, ZAMBIA

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Category: Human Resource | Requisition number: 093880| Location: Lumwana Mine, Kalumbila Zambia. | Reporting to: Maintenance Training Coordinator Apply now Trainer – Fabrication (Short Term) Lumwana Mine, Solwezi, Zambia. Reporting to: Maintenance Training Coordinator Lumwana Mining Company Limited (LMC), a copper mining company owned by Barrick Gold Corporation is situated in the North Western region of Zambia, some 300 km west of the Zambian Copperbelt and 95 km south west of the provincial capital of Solwezi. The mine is a multi-pit, multi staged operation mining approximately 100MT of ore and waste per annum and producing copper concentrates… Read More Here
TRAINEE- INSTRUCMENTATION | MINING CAREERS AT BARRICK LUMWANA, ZAMBIA 10 Mining Careers Mining in Zambia 

TRAINEE- INSTRUCMENTATION | MINING CAREERS AT BARRICK LUMWANA, ZAMBIA

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Category: Human Resources | Requisition number: 093879| Location: Lumwana Mine, Kalumbila Zambia. | Reporting to: Coordinator – Maintenance Training Coordinator Lumwana Mining Company Limited (LMC), a copper mining company owned by Barrick Gold Corporation is situated in the North Western region of Zambia, some 300 km west of the Zambian Copperbelt and 95 km south west of the provincial capital of Solwezi. The mine is a multi-pit, multi staged operation mining approximately 100MT of ore and waste per annum and producing copper concentrates containing an average of 120,000 tonnes of copper metal per year over a… Read More Here

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