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Gold rises as dollar tumbles, slowing U.S. growth boosts appeal 1 Gold International 

Gold rises as dollar tumbles, slowing U.S. growth boosts appeal

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Gold prices rose on Thursday, as demand for the safe-haven asset was lifted by a softer dollar and data showing the U.S. economy grew at its slowest pace in more than a year. Spot gold rose 0.3% to $1,801.43 per ounce. U.S. gold futures settled up 0.2% at $1,802.6. “Economic growth slowed in the U.S. and that would support the gold market in the perspective that the Federal Reserve would be less likely to either taper asset purchases at a quicker pace or the outlook for higher interest rates would… Read More Here
Copper becoming increasingly important as electric vehicle industry grows 2 Copper Mining in Zambia 

Copper becoming increasingly important as electric vehicle industry grows

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Commodities like copper are becoming increasingly important as the electric vehicle industry grows. Karan Rathi, board director of mining company Chillerton Group, speaks about the copper industry in Zambia and how the Covid-19 pandemic has heightened investor support for projects and communities. Zambia, after the Democratic Republic of Congo, is Africa’s second-largest copper producer, but it isn’t well-known. Given the expectation that the industry will boom as more widespread electric vehicle (EV) production ramps up, the copper opportunities in countries like Zambia will become increasingly important. An upstream and downstream… Read More Here
ANTOINETTE N'SAMBA KALAMBAYI & COMIKAT II / UMOJA WA KATANGA DELEGATION, ON THE AUTHORIZATION OF ARTISANAL EXPLOITATION. 3 Mining in DRC Artisanal mining 

ANTOINETTE N’SAMBA KALAMBAYI & COMIKAT II / UMOJA WA KATANGA DELEGATION, ON THE AUTHORIZATION OF ARTISANAL EXPLOITATION.

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The Minister of Mines, Antoinette N’Samba Kalambayi discussed Tuesday, October 26, 2021 in her office in Gombe, with the managers of the mining cooperative of Katanga ll / Umoja wa Katanga (Comika) After having respected the steps and procedures necessary for the creation of a mining cooperative, the delegation of Comika led by its national president, Faustin Tshichinga wa Tshichinga, finally came to request from Minister N’Samba Kalambayi, the authorization of the official installation of its cooperative in an area artisanal mining in the province of Lualaba. THE’stake of the… Read More Here
DRC: Fungurume Mining has driven out more than 70% of Congolese subcontractors for the benefit of Chinese workers 4 Cobalt Mining Companies Mining in DRC 

DRC: Fungurume Mining has driven out more than 70% of Congolese subcontractors for the benefit of Chinese workers

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In his conclusion on the oral question with debate addressed to the Minister of Entrepreneurship, Small and Medium Enterprises, the deputy Paul Ilunga Nkulu noted some cases of violations in the mining sector of the law relating to the rules of subcontracting in the private sector, the subject of his question to Minister Eustache Muhanzi. It was at the end of the minister’s hearing during the plenary of this Wednesday, October 27 at the national assembly. Among these cases, the deputy notably indexed the company Tenke Fungurume Mining (TFM), which… Read More Here
Zimbabwe miners losing 20% of export proceeds to exchange rate distortions – report 5 Uncategorized 

Zimbabwe miners losing 20% of export proceeds to exchange rate distortions – report

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Zimbabwe’s miners are losing 20% of their export proceeds due to a widening gap between the official and black market currency exchange rate, an industry report showed on Wednesday. The Zimbabwe dollar is trading at 93 to the dollar on the official market, but is quoted as low as 180 against the greenback on a thriving black market. A survey commissioned by Zimbabwe’s mining chamber found that mining companies were losing money due to the exchange rate mismatch. Exporters from Zimbabwe are required to surrender 40% of their foreign currency earnings to the central bank, in… Read More Here
Congo's economic growth rises on mining sector performance 6 Mining in DRC 

Congo’s economic growth rises on mining sector performance

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The International Monetary Fund on Wednesday revised upward this year’s economic growth forecast for the Democratic Republic of Congo to 5.4% due largely to higher-than-expected mining production. The IMF said in statement that it had also reached a staff-level agreement with Congo’s government on the first review of a three-year $1.5-billion extended credit facility that began in July. The agreement, which would allow the loan programme to move forward, must be approved by the IMF’s executive board in December. The IMF had previously forecast Congo’s economic growth this year at… Read More Here
Kabanga Nickel Project Issued Special Mining Licence 7 Nickel 

Kabanga Nickel Project Issued Special Mining Licence

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Highlights• Special Mining License issued for the Kabanga Nickel Project by the Government of Tanzania.• The first Special Mining License granted by Government of Tanzania in ten years.• With a Framework Agreement, and a transferred Environmental Certificate for immediate update in place, the project is uniquely positioned to advance.• SML issue a clear vote of confidence for the project and team.• Country and site teams already mobilised to ramp-up pre-development activities. Kabanga Nickel Limited (“Kabanga Nickel”) is pleased to announce that Tembo Nickel Corporation Limited, the local partnership with the… Read More Here
FQM SIGNALS RENEWED COMMITMENT TO ZAMBIA INVESTMENT 8 Mining in Zambia Mining Companies 

FQM SIGNALS RENEWED COMMITMENT TO ZAMBIA INVESTMENT

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First Quantum Minerals’ is engaging with the new government to reinforce its long-term commitment to Zambia and reenergise its long-term investment plans for the mining sector. “Following the recent elections and subsequent smooth transfer of power in Zambia, we are pleased to be engaging constructively with the new Government as we look to establish the parameters for long-term investments into our growth projects in the country,” said FQM’s Chairman and CEO Philip Pascall, after the company released its third-quarter 2021 results. Total copper production for the third quarter of 2021… Read More Here
Technology is making the mining industry safer 9 Equipment & Technology Mining technology 

Technology is making the mining industry safer

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The mining industry has seen significant innovation in recent years, and technology is set to make an impact in one area in particular: safety. One of the primary concerns at mining sites is the safety of workers and equipment on the job. Poor air quality, low visibility, chemical hazards, and structural dangers can all pose a threat in risky areas. The mining industry has already come a long way in developing technology and practices that improve safety conditions. New advancements are always being made, though, and the top four on… Read More Here
First Quantum tweaks copper guidance, reports Zambia shipping challenges 10 Copper International Mining in Zambia 

First Quantum tweaks copper guidance, reports Zambia shipping challenges

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Canada-based First Quantum has narrowed its total copper production guidance for the year by 15 000 t to a range of 800 000 t to 835 000 t, as it adjusted expectations for output from Cobre Panama mine, as well as Kansanshi and Senitel, in Zambia. The lower end of the guidance range for Cobre Panama has been increased by 10 000 t, with the operation now expected to produce between 320 000 t and 335 000 t. First Quantum lopped off 10 000 t from the top-end of its Kansanshi guidance to 205 000 t and it… Read More Here

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