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Copper price falls on muted China retail and industrial data 1 Copper International 

Copper price falls on muted China retail and industrial data

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Copper prices declined on Monday after data showed factory output and retail sales in China rose more slowly than expected in July. Retail sales were hit by tough new virus restrictions introduced at the end of the month to contain fresh outbreaks. China’s refined copper imports fell for the fourth straight month in July, adding to the sense of lost momentum. Copper for delivery in September fell 1.5% from Friday’s settlement price, touching $4.326 per pound ($9,517 per tonne) on the Comex market in New York. Flooding in central China and… Read More Here
Pollution of Congolese rivers by toxic waste from mining activity in Angola 2 Mining in DRC 

Pollution of Congolese rivers by toxic waste from mining activity in Angola

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The pollution of the waters of the Kasai basin, one of the tributaries of the Congo River, worries at the highest level. Dead fish are still floating in the river. Other environmental damage is reported in Angola and DRC. Fishing has been banned by the Inspector General of Fishing and Livestock. Willy Irshindula, governor of Kwilu, has also banned the consumption of this reddish colored water. The Tshikapa river which has its source in the Ciçapa marshes in Lunda-Sul (Angola) a few km from the Kwango river, is also affected by pollution. The Kwilu, Fimi… Read More Here
Gold price extends gain on virus concerns, weak economic data 3 Gold International 

Gold price extends gain on virus concerns, weak economic data

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Gold is heading for its fourth straight gain as investors turned to the safe haven asset amid concerns over the delta coronavirus variant and weaker economic data. Spot gold rose 0.4% to $1,786.45 per ounce by 11 a.m. EDT, its highest in over a week. US gold futures also advanced 0.7% to trade at $1,790.70 per ounce in New York. A report published by the Federal Reserve Bank of New York on Monday showed the state’s manufacturing activity moderated in August after expanding at an unprecedented pace a month earlier. Meanwhile,… Read More Here
Barrick Joins Challenge to Decarbonize Surface Mining 4 Energy International 

Barrick Joins Challenge to Decarbonize Surface Mining

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Global miner Barrick Gold Corporation has joined an industry-wide effort to cut emissions from surface mining, called Charge on Innovation Challenge. The challenge takes the form of a global competition and seeks to leverage the experience of various industries to develop new concepts and solutions for large-scale haul truck electrification. Barrick considers electrification as a key measure to decarbonise mining. The company has copper and gold operations across Saudi Arabia, Zambia and Chile, as well as Argentina, the Dominican Republic, Papua New Guinea, Tanzania, the Democratic Republic of Congo, Mali,… Read More Here
Kamoa Copper Facilitates the upgrade of turbine 5 at the Inga II hydropower 5 Mining in DRC Energy New Mining Projects 

Kamoa Copper Facilitates the upgrade of turbine 5 at the Inga II hydropower

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Kamoa Copper extends existing financing agreement with DRC’s state-owned power company to facilitate the upgrade of turbine 5 at the Inga II hydropower complex. Turbine 5 to produce 162 MW of renewable hydropower, providing the Kamoa-Kakula Copper Complex and associated smelter with sustainable electricity for Phase 3 and future expansions Combined 240 MW output from the Mwadingusha and Inga II hydropower plants also will benefit local communities. KINSHASA, DEMOCRATIC REPUBLIC OF CONGO – Ivanhoe Mines (TSX: IVN; OTCQX: IVPAF) Co-Chairs Robert Friedland and Yufeng “Miles” Sun are pleased to announce that Ivanhoe Mines Energy… Read More Here
Shanta reports fruitful Phase 2 drill results 6 Gold New Mining Projects 

Shanta reports fruitful Phase 2 drill results

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Aim-listed Shanta Gold has identified visible gold in two intersections across 13 holes drilled in May and June, at the Isulu and Bushiangala deposits, as part of the West Kenya project, in Kenya. The company says the true width of mineralisation is estimated at about 60% to 70% of the intercept core length. Shanta has conducted 3 369 m of drilling during Phase 2 of the project’s drill programme, the results of which included 1 m grading 13.9 g/t gold from 164 m, 3.6 m grading 6 g/t from 214 m and 3 m grading 4.3 g/t from 136 m. The… Read More Here
Ivanhoe Mines Issues Q2 Financial Results and Review of Operations 7 Mining in DRC Copper New Mining Projects 

Ivanhoe Mines Issues Q2 Financial Results and Review of Operations

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Ivanhoe Mines issues Q2 financial results and reviewof operations, mine construction and exploration progressKamoa-Kakula Copper Mine achieved Phase 1 commercial production on July 1, 2021; first phase projected to produce approximately 200,000 tonnes of copper per yearKamoa-Kakula’s Phase 2 expansion, scheduled for Q3 2022, will double annual copper output to approximately 400,000 tonnesIvanhoe Mines pledges net-zero greenhouse gas emissions at the Kamoa-Kakula Copper MineGood progress being made on Ivanhoe’s Western Foreland exploration program, searching for DRC’s next tier-one copper discoveryDevelopment of the world-scale Platreef palladium, rhodium, platinum, nickel, copper and gold project in… Read More Here
Gold price recovers from recent selloff, supported by physical demand spike 8 Gold International 

Gold price recovers from recent selloff, supported by physical demand spike

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Gold extended its recovery from the recent selloff on Friday as a retreat in the US dollar enticed investors to snap up the safe haven metal. Spot gold rose 1.3% to $1,776.83 per ounce by 12:10 p.m. EDT, its highest in more than a week, representing a quick turnaround from the four-month lows touched on Monday. US gold futures jumped 1.5% to $1,779.20 per ounce in New York. Meanwhile, the dollar index fell 0.4% and US benchmark 10-year treasury yields also weakened, bolstering the appeal of gold, a non-yielding asset.… Read More Here
Copper price rises as supply worries return 9 International Copper 

Copper price rises as supply worries return

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Copper prices advanced on Friday after workers at Codelco’s Andina copper mine in Chile went on strike, raising supply disruption risks. Copper for delivery in September rose 1% from Thursday’s settlement price, touching $4.431 per pound ($9,748 per tonne) on the Comex market in New York. Copper prices have soared to record highs this year, handing unions in Chile additional leverage, ratcheting up tensions in labor negotiations and putting pressure on global supply of the red metal. On Thursday, two unions at Andina walked off the job after rejecting the latest contract offer, while… Read More Here
Tycoon may have shifted assets to Zimbabwe after US sanctions 10 Mining Policy 

Tycoon may have shifted assets to Zimbabwe after US sanctions

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Zimbabwe’s government is pressing ahead with a plan to combine its mining assets under a massive private-public enterprise, even as evidence mounts that the project could be linked to a tycoon sanctioned by the US and UK. Previously unreported documents, including correspondence among executives and shareholders, show that weeks after Kudakwashe Tagwirei was sanctioned by the US, his Mauritius-based Sotic International Ltd. began planning to shift its assets to a newly created Zimbabwean holding company — Ziwa Resources Ltd. Ziwa is the only private shareholder in the partnership, called Kuvimba… Read More Here

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