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Gold price declines after US jobs data spur more rate-hike concerns 1 Gold International 

Gold price declines after US jobs data spur more rate-hike concerns

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Gold extended a decline after plunging below $1,700 an ounce last week, as strong US jobs data intensified concerns that the Federal Reserve will remain aggressive with rate hikes. The metal came under pressure from the stronger dollar Monday amid weak risk sentiment in equity markets. Relentless Fed policy tightening has weighed on the asset through the year, causing a 19% plunge from its year-high in March. The precious metal last week had its largest weekly gain since July, though trimmed the advance after nonfarm payrolls data on Friday showed… Read More Here
Zimbabwe miners unfazed by new royalties proposal 2 Uncategorized 

Zimbabwe miners unfazed by new royalties proposal

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Zimbabwe’s miners do not expect any significant impact from the government’s proposal to collect royalties in the form of refined minerals, the country’s Chamber of Mines said on Monday. President Emmerson Mnangagwa announced on Sunday that Zimbabwe would require companies mining gold, diamonds, lithium and platinum group metals (PGMs) to pay part of their royalties in refined metal rather than cash. The Chamber of Mines, which represents major mining companies, said it was not worried about the pronouncement because it would not increase existing royalty rates. “We respect the government’s position. It’s… Read More Here
Zimbabwe’s RioZim buys Namibian diamond mine to expand in Africa 3 Diamond International 

Zimbabwe’s RioZim buys Namibian diamond mine to expand in Africa

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RioZim has bought Sperrgebiet Diamond Mine in Namibia as the Zimbabwean group seeks to expand in Africa. “The group has been trying to broaden its footprint in the mining industry in Africa and this acquisition was part of the strategy,” Tawanda Andrew Chiurayi, RioZim’s group company secretary, said in a written response to questions from Bloomberg News. “We also want to diversify our assets and geographies.” Chiurayi declined to disclose the amount RioZim paid for the mine. The acquisition cost $58-million, people familiar with the matter said, asking not to be named as the price hasn’t… Read More Here
Antler Gold Appoints Christopher Drysdale as Chief Executive Officer 4 International Mining Personality 

Antler Gold Appoints Christopher Drysdale as Chief Executive Officer

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Antler Gold Inc.is pleased to announce that it has appointed Christopher Drysdale as Chief Executive Officer (“CEO”) effective immediately. Mr. Drysdale replaces Daniel Whittaker, who will assume the position of Executive Chairman. This appointment will allow Antler to continue building and expanding on its business. In March 2022, Antler announced that it had entered into an agreement with Sherpa Resource Holdings Ltd to form a new corporation, the “Project Generator”, to generate exploration opportunities and projects. Mr. Whittaker stated, “Chris has played a critical role in the growth of Antler… Read More Here
Antler Gold Announces Additional Terms to Acquire the Onkoshi Gold Project in Namibia 5 Gold International 

Antler Gold Announces Additional Terms to Acquire the Onkoshi Gold Project in Namibia

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On April 13, 2022, Antler Gold Inc. announced that it and its wholly owned subsidiary, Antler Gold Namibia (Pty) Ltd. (“Antler Namibia“) had entered into a binding agreement dated April 13, 2022 to acquire 90% of the Onkoshi Gold Project (the “Project“) in Namibia (the “Original Agreement“) from an arm’s length vendor. The Agreement was subsequently amended by an amending agreement dated as of July 20, 2022 (together with the Original Agreement, the “Agreement“). The Project will be held in Antler’s project generation vehicle (“Project Generator“) owned 87.5% by Antler and 12.5%… Read More Here
Haut-Katanga: armed soldiers illegally occupy MMG Kinsevere mining sites-DRC 6 Mining in DRC 

Haut-Katanga: armed soldiers illegally occupy MMG Kinsevere mining sites-DRC

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Mining sites belonging to MMG Kinsevere in the province of Haut-Katanga are illegally occupied by soldiers from the 22nd military region of the FARDC. More precisely, two mining sites, namely the site of Sokoroshe 2 (PE 538) and that of Nambulwa (PE 539) are experiencing an illicit occupation by armed forces brandishing a mission order from the Commander of the 22nd military region of the FARDC. This situation has persisted since July 2022 without the competent authorities being able to put an end to this occupation which prevents the owner company… Read More Here
Harmony Gold expands into copper with $230m project buy 7 Gold International Mining Companies 

Harmony Gold expands into copper with $230m project buy

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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
Komatsu introduces new WX03 LHD for narrow vein mining 8 Equipment & Technology International Mining technology 

Komatsu introduces new WX03 LHD for narrow vein mining

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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
Alphamin’s quarterly production rates exceed guidance 9 Tin Mining in DRC 

Alphamin’s quarterly production rates exceed guidance

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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
28th edition of Africa oil week in Cape Town, Didier Budimbu accelerates the promotion of oil and gas resources in the DRC 10 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

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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

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