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Harmony Gold expands into copper with $230m project buy

October 7, 2022October 7, 2022 admin

South African miner Harmony Gold (JSE: HAR) (NYSE: HMY) is expanding into the copper market with the acquisition of Copper Mountain Mining’s (ASX: C6C) (TSX: CMMC) Eva project in Australia, in a deal worth $230 million. The company said the project, situated in Queensland, adds 1.72 billion pounds of copper, and 260,000 ounces of gold to its mineral reserves. Until now, the company’s only exposure to copper, which is critical to the global energy transition, was through its stake in the Wafi-Golpu joint venture with Newcrest in Papua New Guinea, where the partners have been… Read More Here

Equipment & Technology International Mining technology

Komatsu introduces new WX03 LHD for narrow vein mining

October 7, 2022October 7, 2022 admin

Load-haul-dump (LHD) machines are a mainstay of any underground hard rock operation. Engineered for the most demanding mining environments, the Komatsu WX03 LHD is a 3-tonne diesel-powered heavy-duty machine designed for especially small, narrow vein applications with limited maneuvering space. This solid LHD features simple operation controls and a rugged long-life structure specifically designed for ease of use and ease of maintenance with an onboard self-diagnostic user interface. With an efficient powertrain and hydraulic system designed for improved performance, as well as a modern operator compartment with easy-to-use controls, this… Read More Here

Tin Mining in DRC

Alphamin’s quarterly production rates exceed guidance

October 6, 2022October 6, 2022 admin

Tin miner Alphamin Resources, a producer of 4% of globally mined tin from its high-grade operation in the Democratic Republic of Congo (DRC), produced 3 139 t of tin in the third quarter, which exceeded the previously stated market guidance of 3 000 t. In its operational update for the third quarter ending in September, published this week, Alphamin reported that a highly mineralised area underground, not previously included in the mineral resource or mine plan owing to its structurally complex nature, which was successfully mined and processed during the quarter,… Read More Here

Mining in DRC Oil & Gas

28th edition of Africa oil week in Cape Town, Didier Budimbu accelerates the promotion of oil and gas resources in the DRC

October 6, 2022October 6, 2022 admin

The Congolese Minister of Hydrocarbons of the Democratic Republic of Congo (DRC), Didier Budimbu, took part, on Tuesday October 4, 2022, in the 28th edition of Africa Oil Week in CapeTown in South Africa. The objective for this member of the Warriors Government is to promote the tender process for 27 oil blocks and 3 gas blocks launched by the Government since July 2022. During these meetings, Didier Budimbu had the privilege of presenting the oil and gas potential of his country to the heads of African and international oil… Read More Here

Copper Mining in DRC

At the end of June 2022, copper production stood at 1,088,364 tonne-DRC

October 6, 2022October 6, 2022 admin

Copper production in the first half of 2022 stood at 1,088,364 tonnes in the Democratic Republic of Congo (DRC), according to the summary of statistical data from the Central Bank of Congo (BCC). According to this document, during the same period last year (2021), copper production in the DRC was estimated at 812,566 tonnes. For the whole of 2021, total copper production in the Democratic Republic of the Congo was estimated at 1,797,836 tonnes, according to data from the Ministry of Mines. The economy of the Democratic Republic of Congo… Read More Here

Equipment & Technology International Mining technology

How Drones are Lifting Off in the Mining Industry

October 6, 2022October 6, 2022 admin

Drones are becoming increasingly popular in the mining industry due to numerous advantages, including better productivity, safety, and reduced costs. They have a range of applications in the sector, all tied to their ability to enhance data collection for various mining tasks. Image Credit: mineronbaystreet/Shutterstock.com Drone Use on the Rise in Mining The consultancy and research organization, GlobalData, recently published the results of four years’ worth of mine site operator surveys for both surface and underground mines. They found that drone use is on the rise across the industry. In 2018,… Read More Here

Uranium International Mining in Zambia

GoviEx Uranium doubles financing on strong investor demand

October 6, 2022October 6, 2022 admin

Due to strong investor demand, GoviEx Uranium (TSXV: GXU) has revised its agreement with Sprott Capital Partners to increase the size of the recently announced bought deal financing from C$5 million to C$10 million. Sprott, on behalf of a syndicate of underwriters, will now purchase 45.5 million units of the company at a price of C$0.22 per unit. Each unit issued under the offering will consist of one Class A common share and one-half of a common share purchase warrant. Each whole warrant is exercisable at the US dollar equivalent price… Read More Here

Copper International

Copper price down on rate hike fears

October 6, 2022October 6, 2022 admin

Copper prices retreated on Wednesday after touching their highest in nearly two weeks due to a resurgent dollar and persistent worries that rate hikes will hit demand. Copper for delivery in December fell 0.4% from Tuesday’s settlement price, touching $3.47 per pound ($7,634 per tonne). “The backdrop is still grim. The Fed is still determined to go after inflation and China’s economy is still struggling,” said Tom Price, head of commodities strategy at Liberum. “For over a year, the Fed has not budged from its focus to curb inflation. Its… Read More Here

Diamond

De Beers’ eighth sales cycle generates $500m

October 5, 2022October 5, 2022 admin

Diamond miner De Beers sold $500-million of rough diamonds during its eighth sales cycle of this year. This compares with the $492-million of rough diamonds sold in the eighth sales cycle of 2021. “Demand for our rough diamonds during sales cycle eight was in line with expectations in what is a traditionally quieter time of year for the diamond industry as polishing factories in India prepare for closures ahead of the Diwali holidays. “The steady overall demand for De Beers Group’s rough diamonds is reflected in the ongoing consumer demand for diamond jewellery ahead of the key holiday… Read More Here

Copper Mining in Zambia

Sibanye interested in Zambia’s Mopani Copper Mines – Froneman

October 5, 2022October 5, 2022 admin

Sibanye-Stillwater has expressed an interest in Zambia’s Mopani Copper Mines, the mine and smelter complex looking for new investors after Glencore sold the asset to the state in January last year, CEO Neal Froneman said on Wednesday. Froneman said Sibanye had registered an interest around a year ago, and that “we remain interested”. Zambia’s state mining firm ZCCM-IH hired Rothschild in June to help find a new investor to upgrade and expand it. “We like Zambia, we like what the new president is doing there,” Froneman said. Sibanye, which mainly produces platinum group metals and gold, has expanded into… Read More Here