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 Cobalt has been stabilizing around USD 51,000 per tonne for several weeks 1 Mining in DRC Cobalt 

 Cobalt has been stabilizing around USD 51,000 per tonne for several weeks

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The general trend in the prices of the main mining export products is upwards in this week from October 17 to 22, 2022, according to data from the National Mercurial Commission. Cobalt is up this week at $51,261.5 per ton from $51,261.00 per ton the previous week, a positive price differential of $0.5. Similarly, copper shows an upward trend this week at 7,637 USD per tonne against 7,604.30 USD per tonne last week, an increase of around 32.15 USD. Zinc is trading this week up to 3,020.50 USD per ton… Read More Here
Gold price at 3-week low as UK inflation jumps again 2 Gold International 

Gold price at 3-week low as UK inflation jumps again

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Gold fell to the lowest in more than three weeks as UK inflation returned to double digits, intensifying pressure on the government and central bank to take additional measures. Spot gold was down 1.1% to $1,634.23 per ounce by 11:20 a.m. ET, its lowest since September 27. US gold futures dropped 1.0% to $1,639.50 per ounce in New York. Following a slight rebound earlier this week, the precious metal has now reversed course as data showed UK consumer prices in September matched a 40-year high and exceeded economists’ expectations. The figures add to pressure… Read More Here
Albert Yuma proposes four levers to be activated to innovate more sustainable investments after mining 3 Mining in DRC 

Albert Yuma proposes four levers to be activated to innovate more sustainable investments after mining

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The Democratic Republic of Congo (DRC) is considered a geological scandal but the minerals are exhaustible. For the National President of the Federation of Companies of Congo (DRC), Albert Yuma, “we must already think about the post-mining period”. Albert Yuma said so on Wednesday, October 18, 2022, at the opening of the Forum initiated by the FEC Chamber of Mines. Albert Yuma is of the opinion that the revised 2018 Mining Code has introduced notions of social responsibility which require that local development plans be drawn up in favor of… Read More Here
Sandvik’s battery electric TH665B to lead its packed line-up for IMARC 4 Equipment & Technology International Mining technology 

Sandvik’s battery electric TH665B to lead its packed line-up for IMARC

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Australian miners will have their first opportunity to view the world’s largest battery electric truck for underground mining in person when Sandvik’s TH665B makes its Australian debut at the International Mining and Resources Conference (IMARC) in Sydney in November. With BEVs essential to helping mining companies reduce emissions, a TH665B will take centre-stage at the Sandvik stand before it heads to Western Australia for a trial with Barminco and AngloGold Ashanti at Australia’s Sunrise Dam gold mine. The 65 t truck’s lithium-iron phosphate battery and electric driveline deliver a remarkable… Read More Here
4 years after its entry into force, revised Mining Code at the heart of exchanges between FEC and stakeholders- DRC 5 Mining in DRC 

4 years after its entry into force, revised Mining Code at the heart of exchanges between FEC and stakeholders- DRC

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The current Mining Code of the Democratic Republic of Congo (DRC) was revised in 2018. Four years after this revision, there have been positive repercussions as many difficulties are noted by mining operators in the materialization of the Mining Code revised from 2018. This is how the Federation of Companies of Congo (FEC), through the Chamber of Mines, starts, from Tuesday October 18 to Thursday October 20, 2022, the exercise of the evaluation of this Mining Code, with the support from all stakeholders in this sector. Objective: mark the way towards… Read More Here
Congolese NGOs decry mining in main refuge of ‘Africa’s unicorn’ 6 Mining in DRC 

Congolese NGOs decry mining in main refuge of ‘Africa’s unicorn’

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Illegal gold mining is destroying tracts of pristine rainforest in Congo’s Okapi Wildlife Reserve, a UNESCO World Heritage site meant to be a haven for the endangered mammal nicknamed Africa’s unicorn, environmental organizations warned on Tuesday. Industrial activities are supposed to be banned in the 13,000 square kilometers of the reserve in northeast Democratic Republic of Congo. Aerial photo evidence shows mining has persisted, the civil society groups said at a joint news conference to mark the international day of the okapi. The Council for Environmental Defense through Legality and… Read More Here
Copper price falls on recession fears, China covid-19 curbs 7 Copper International 

Copper price falls on recession fears, China covid-19 curbs

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Copper prices fell on Tuesday, on worries that China’s determination to stick with its strict covid-19 rules could dampen economic growth and demand for metals. Copper for delivery in December fell 1.8% on the Comex market in New York, touching $3.35 per pound ($7,379 per tonne). The most-traded November copper contract on the Shanghai Futures Exchange (ShFE) declined 0.9% to 62,650 yuan ($8,702.60) per tonne. Chinese President Xi Jinping reiterated the validity of China’s zero-covid policy, which includes lockdowns and movement curbs to prevent the spread of coronavirus, at the Communist Party Congress… Read More Here
Deep-South to start soil sampling at three Zambian Copperbelt prospects 8 Mining in Zambia Exploration 

Deep-South to start soil sampling at three Zambian Copperbelt prospects

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Copper explorer and developer Deep-South Resources is undertaking exploration work at its three newly-acquired large-scale copper exploration licences in the centre of the Zambian Copperbelt, one of the most prolific copper belts in the world. On July 6, Deep-South closed an option agreement to acquire up to an 80% undivided interest in the three licences, where it plans to undertake 3 627 geochemical soil samples with the aim to identify anomalies and define drilling targets. In addition, Deep-South filed with the Zambia Environmental Management Agency (Zema) project environmental briefs for… Read More Here
Gold price declines with focus on rates outlook and recession risks 9 Gold International 

Gold price declines with focus on rates outlook and recession risks

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Gold reversed early gains as investors assessed the increasing risk of a global recession against the Federal Reserve’s tightening path. Bullion has had a wild ride this year, tumbling almost 20% since a March peak as the Federal Reserve aggressively tightened monetary policy, prompting investors to seek shelter in the US dollar. The non-yielding metal, which typically has a negative correlation with the dollar and rates, has been pressured by the stronger greenback. On Tuesday, fresh US data pointed to firm growth in manufacturing that’s underpinned by solid business investment… Read More Here
Slightly lower, tin price expected to fall to USD 20,586.00 per tonne this week  10 Tin International Mining in DRC 

Slightly lower, tin price expected to fall to USD 20,586.00 per tonne this week 

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The price of tin should register a slight drop in price this week from October 17 to 22, 2022 on the international market, inform the experts of the National Commission of Mercurials of the Ministry of Foreign Trade. According to these Congolese government experts, this product widely used in the welding industry should trade at 20,586.00 USD per tonne this week against 20,727.00 USD last week, a negative price difference of the order of 141 USD. In addition, stock market experts indicate that the price of tin has doubled over… Read More Here

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