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AngloGold plunges as key African mine may stay shut all year 1 Gold Mining Companies 

AngloGold plunges as key African mine may stay shut all year

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AngloGold Ashanti (NYSE: AU, JSE: ANG ) stock dropped as much as 12% Friday after it cut production forecast and said a key mine in Ghana may not resume output this year after an accident in May. The company lowered its output goal by about 12% after removing planned gold from the Obuasi operation. Mining activities at the project will remain suspended pending the conclusion of a third-party review of the mining and ground management plans. While AngloGold hopes to restarts the mine by year-end, it would take a “cautious… Read More Here
Gold price plummets as US employment data beat expectations 2 Gold International 

Gold price plummets as US employment data beat expectations

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Gold prices took a hard fall on Friday after a strong US employment report boosted expectations the Federal Reserve could begin tapering its economic support sooner than previously anticipated. Spot gold plummeted 2.5% to $1,760.88 per ounce by 11:30 a.m. ET, its lowest in over a month, while US gold futures slid 2.6% to $1,760.90 per ounce in New York. The latest US non-farm payrolls (NFP) report showed that 943,000 jobs were added during the month of July. This figure was well above the market consensus estimate of 870,000. “The… Read More Here
China Moly to spend $2.5bn to double copper, cobalt output at Congo mine 3 Cobalt Copper Mining in DRC 

China Moly to spend $2.5bn to double copper, cobalt output at Congo mine

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China Molybdenum will invest $2.51 billion to double copper and cobalt production at its giant Tenke Fungurume mine (TFM) in the Democratic Republic of Congo.  The project, expected to be completed and online in 2023, includes building three ore production lines. They are forecast to rise average annual copper output at the mine by 200,000 tonnes and increase cobalt output by 17,000 tonnes, the company said in a filing to the Shanghai Stock Exchange.  China Moly started in July trial production at a separate expansion at the mine, which is slated to produce 88,500 tonnes of copper cathode and 7,280 tonnes of cobalt hydroxide. It also has a designed capacity to process 3.3 million tonnes of… Read More Here
Copper gains as world’s biggest mine preps for strike 4 Copper International 

Copper gains as world’s biggest mine preps for strike

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Copper prices rose on Friday as a union at the world’s biggest copper mine, Chile’s Escondida, told workers to prepare for a strike that would reduce supply of the metal. However, prices were still down this week due to concerns that demand in top consumer China, currently grappling with a coronavirus outbreak, will weaken. Benchmark copper was up 0.8% at $9,566 a tonne at 1033 GMT. It was down 1.2% from last Friday but has still gained more than 20% so far this year, although it is off a record high of… Read More Here
Maamba collieries completes five years of energy supply 5 Energy Mining in Zambia 

Maamba collieries completes five years of energy supply

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This month marks five years since the commissioning of Zambia’s largest coalfired Thermal Power Plant at Maamba Collieries in Sinazongwe District, Southern Province and commencing supply of electricity to the national grid. The state-of-the-art 300 MW plant was commissioned by the Republican President H.E. Mr. Edgar Chagwa Lungu on August 7, 2016, making MCL Zambia’s largest Independent Power Producer – accounting for about 10% of the country’s installed capacity at the time. The privatisation of Maamba Collieries saw Nava Bharat Singapore along with its cosponsor ZCCM-IH and project lenders infused… Read More Here
Diamond sales at De Beers’ Botswana unit rebound as global market recovers 6 Diamond 

Diamond sales at De Beers’ Botswana unit rebound as global market recovers

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De Beers’ Botswana unit saw sales of rough diamonds rebound by 41% in the first half of 2021, driven by the reopening of key markets the United States and China, data from the Bank of Botswana showed on Thursday. Debswana Diamond Company, a joint venture between the Botswana government and Anglo American’s De Beers, sells 75% of its output to De Beers with the balance taken up by state-owned Okavango Diamond Debswana’s sales fell by 30% in 2020 as the coronavirus pandemic hit demand while global travel restrictions impacted trading.… Read More Here
Glencore to return $2.8bn to shareholders in 2021 7 Mining Companies Covid-19 

Glencore to return $2.8bn to shareholders in 2021

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Glencore will return $2.8 billion to shareholders in 2021 after soaring commodity prices helped the mining and trading company to a record performance for the first six months of the year, it said on Thursday. The London-listed company joins rivals Rio Tinto and Anglo American in declaring bonanza payouts after record half-year profits buoyed by a rebound in demand for commodities. “Following COVID-19’s severe global impacts in early 2020, the subsequent economic recovery has seen prices of most of our commodities surging to multi-year highs,” said Glencore CEO Gary Nagle,… Read More Here
SUPERINTENDENT,LOAD & HAUL | MINING CAREER AT FQM, KALUMBILA, SOLWEZI, ZAMBIA 8 Mining Careers Mining in Zambia 

SUPERINTENDENT,LOAD & HAUL | MINING CAREER AT FQM, KALUMBILA, SOLWEZI, ZAMBIA

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Requisition Number: JR3499| Country: Zambia | Contract Type: Fixed Term| Location: Solwezi Apply now Job description: Overall Purpose The Load and Haul Superintendent is responsible for the management of all personnel, resources and processes associated with the Sentinel Mine Load and Hall operations. The role requires a consistent focus and attention towards the achievement of safety, production, quality and cost objectives through the efficient application of the ultra-class mining fleet. The key purpose is the achievement of ore and waste mining volumes in a safe, quality driven and cost effective manner with the overall mine plan. Specific… Read More Here
Resolute to sell Ghana mine to Asante Gold for $90m 9 Gold 

Resolute to sell Ghana mine to Asante Gold for $90m

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Australian gold miner Resolute Mining Ltd said on Thursday it would sell its Bibiani mine in Ghana to Canada’s Asante Gold Corp for $90 million. The sale comes months after China’s Chifeng Jilong Gold Mining cancelled a deal to buy the mine, saying it had not received timely information about the termination of a mining lease. Resolute Mining shares rose 4.5% to A$0.58 in early trade. The deal had been approved by Ghana’s minister of lands and natural resources and is expected to be completed in the next 10 days, Resolute Mining said in a statement. The Australian miner, which… Read More Here
BHP joins Komatsu’s GHG Alliance 10 Mining technology International 

BHP joins Komatsu’s GHG Alliance

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To accelerate its push to become a net-zero operator by 2050, BHP announced it will become a founding member of Komatsu’s GHG Alliance, which aims to develop commercially viable zero-greenhouse gas emissions haul trucks. As a founding partner of the Alliance, the world’s no.1 miner plans to operate one of the first batches of zero-emission trucks upon commercial release. BHP will provide engineering and technical resources to Komatsu to support the development phase as required, which in turn will provide BHP with real-time access to technology in development. In the… Read More Here

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