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DRC: Fungurume Mining has driven out more than 70% of Congolese subcontractors for the benefit of Chinese workers 1 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 2 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 3 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 4 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 5 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 6 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 7 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
Botswana delivers first iron ore exports to China 8 Iron Ore 

Botswana delivers first iron ore exports to China

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Botswana’s first iron ore mine, Ikongwe, has started production and delivered its maiden exports to China, a company official told Reuters on Tuesday, as the Southern African country makes headway in efforts to diversify its economy away from diamonds. Although diamond mining’s contribution to GDP has declined over the years and was less than 20% last year, Botswana is still heavily reliant on the precious stones, with diamonds accounting for more than 70% of foreign currency revenues. The first exports from the Ikongwe mine, owned by Vision Ridge Investments, a… Read More Here
Proterra and Komatsu announce collaboration to electrify underground mining machines 9 Equipment & Technology International Mining technology 

Proterra and Komatsu announce collaboration to electrify underground mining machines

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Komatsu developing battery-electric LHDs, drills and bolters with Proterra battery systems • Collaboration represents Proterra’s entry into underground mining equipment market Oct. 26, 2021 – Proterra Inc, a leading innovator in commercial vehicle electrification technology, and Komatsu, a global leader in construction and mining equipment, today announced a new collaboration to electrify next-generation underground mining machines using Proterra’s battery technology. Under the collaboration, Proterra will supply its H Series battery system technology to Komatsu for the development of battery-electric LHDs, drills and bolters for underground hard rock mining. Mining equipment and services… Read More Here
Provisional liquidator of Zambia's KCM denies theft, money laundering 10 Mining in Zambia Mining Companies 

Provisional liquidator of Zambia’s KCM denies theft, money laundering

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The state-appointed provisional liquidator of Zambia’s Konkola Copper Mines (KCM) on Tuesday appeared in court and denied charges of money laundering and the theft of 4.4-million Zambian kwacha ($257 450). Zambia’s Drug Enforcement Commission, which also handles money-laundering cases, last month arrested liquidator Milingo Lungu and charged him with money laundering and the theft of more than $2-million. But when the case came to court on Tuesday the amount was lowered to 4.4-million kwacha, which Lungu was accused of having stolen and laundered between May 2019 and September this year. “I deny… Read More Here

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