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Gemfields resumes Mozambique operations after nearby attack 1 Gemstones 

Gemfields resumes Mozambique operations after nearby attack

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Precious stone miner Gemfields Group has resumed operations at its mine in Mozambique’s Cabo Delgado province, it said on Monday, after halting production last week when an attack was reported at a nearby facility. An Islamic State-linked insurgency in the northern Cabo Delgado province has claimed thousands of lives since 2017, disrupting multibillion-dollar natural gas and mining projects. Gemfields halted operations and evacuated non-security staff and contractors on Thursday after an attack attributed to insurgents was reported 12 km (7.46 miles) southeast of its Montepuez ruby mine in Cabo Delgado province. “Key… Read More Here
Copper price down as China’s yuan falls to lowest since 2008 2 Copper International 

Copper price down as China’s yuan falls to lowest since 2008

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Copper prices fell on Monday as investors worried about the pace of economic growth in China and the yuan fell to its weakest versus the dollar since 2008, making dollar-priced commodities costlier for Chinese buyers.  Data showed China’s economy rebounded faster than anticipated in the third quarter but the outlook is clouded by covid-19 control measures, a property slump, and weakening growth elsewhere in the world Meanwhile, Xi Jinping’s newly unveiled leadership team heightened fears that economic growth will be sacrificed for ideology-driven policies. Copper for delivery in December fell… Read More Here
Barrick to expand East African footprint following positive results at North Mara, Bulyanhulu gold mines 3 Gold International 

Barrick to expand East African footprint following positive results at North Mara, Bulyanhulu gold mines

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Barrick Gold’s (NYSE: GOLD) (TSX: ABX) president and chief executive Mark Bristow announced on Saturday that the company plans to expand its East African footprint using the North Mara and Bulyanhulu gold mines in Tanzania as a foundation for this endeavour. Back in September 2019, Barrick inherited what Bristow called these “moribund mines” when it re-acquired Acacia Mining. After some rebuilding work, the mines breathed new life and are now set to achieve a combined production in excess of 500,000 ounces for the second year running, thus becoming tier-one assets. North Mara hit a… Read More Here
How to identify and address conveyor belt idler issues 4 Equipment & Technology Mining technology 

How to identify and address conveyor belt idler issues

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On any belt conveyor system that moves bulk materials, the belt must run straight and true to maximize its life, minimize fugitive material and safety hazards, and achieve high system efficiency. There can be many consequences of a mis-tracking belt, but all result in higher costs and increased maintenance. Even a slight belt misalignment can lead to a variety of issues, from small annoyances to full-blown catastrophes. The most obvious effects include spillage and dust that require personnel to do clean-up, which is unproductive work that introduces risks from activities… Read More Here
DRC improves extractive sector transparency but more needed – anti-graft body 5 Mining in DRC Governance 

DRC improves extractive sector transparency but more needed – anti-graft body

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The Democratic Republic of Congo (DRC) has made progress in implementing transparency in its extractive mining sector but needs to do more in publishing contracts and revenues from the sector, a global anti-corruption body said. The Extractive Industries Transparency Initiative (EITI), which sets a global standard for good governance in oil, gas and mineral resources, said the DRC has achieved a high overall score in the implementation of the 2019 EITI Standards. The standards include good governance, clear legal framework and fiscal regimes, and publishing of contracts and revenues. President Felix Tshisekedi has promised to tackle corruption… Read More Here
Namibia, EU reach provisional deal on rare earth minerals 6 Rare Earth Minerals International 

Namibia, EU reach provisional deal on rare earth minerals

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Namibia has provisionally agreed on a deal with the European Union to sell its rare earth minerals, critical to the renewable energy sectors, mines and energy minister Tom Alweendo said on Thursday. EU and Namibian officials told Reuters in July they were planning a deal on hydrogen and minerals as the bloc works to reduce its dependence on Russian energy. “In principal we have agreed on conditions, whatever the materials, we are going to process them here,” Alweendo said about the approaches being taken to ensure the southern African country reaps… Read More Here
Gemfields halts Mozambique operations after attack at nearby ruby mine 7 Gemstones International 

Gemfields halts Mozambique operations after attack at nearby ruby mine

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Precious gem miner Gemfields Group has stopped operations at its Montepuez ruby mine in Mozambique’s Cabo Delgado province after an attack was reported at a nearby facility, it said on Thursday. “This morning, an attack attributed to insurgent activity has been reported at the neighbouring ruby mine belonging to Gemrock, which lies about 12 km south-east of the operations… in which Gemfields holds a 75% interest,” Gemfields said in a statement. Mozambique’s northern Cabo Delgado province has seen an Islamic State-linked insurgency that has claimed thousands of lives since it broke out in 2017, disrupting multibillion-dollar natural gas and mining projects. Gemfields said it… Read More Here
 Cobalt has been stabilizing around USD 51,000 per tonne for several weeks 8 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 9 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 10 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

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