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Civil unrest in South Africa, covid-19 may push cobalt prices up — report

July 31, 2021July 31, 2021 admin

Civil unrest in South Africa, a third wave of covid-19 and supply curbs in the Democratic Republic of Congo may push cobalt prices up to $25 per pound through 2021 from the current average of $23.94 per pound, according to a new report published by Fastmarkets. Author William Adams, head of commodity markets research, believes that continued protests in South Africa — a major transportation route for cobalt mined in the DRC — may hinder miners’ ability to deliver their product to international customers, thus affecting supply. More than 70 people… Read More Here

Copper International

Copper price falls after China’s metals auction

July 31, 2021July 31, 2021 admin

The copper price fell on Friday after China released more base metals from its state reserves. Copper for delivery in September fell 1.2% from Thursday’s settlement price, touching $4.466 per pound ($9,825 per tonne) on the Comex market in New York. The release of state metal reserves is one of a number of attempts by Beijing to cool a stellar rally in commodity prices that has squeezed manufacturers’ margins. China announced it would release a total of 170,000 tonnes of metals, including copper, aluminum and zinc, from state reserves on… Read More Here

Cobalt Copper International Mining in DRC

Glencore records ‘modest’ cobalt production boost

July 31, 2021August 2, 2021 admin

Glencore’s zinc, cobalt and copper production rose “modestly” in the first half of the year, compared to the same period in 2020, as operations recovered from Covid-related suspensions. Copper production rose 2% to 598,000 tonnes, while zinc output increased by 6% or 31,700 tonnes to 581,800 tonnes. Glencore produced 13,000 tonnes of cobalt from its own sources in the first half of the year, a 4% rise or 500 tonnes compared to the same period last year. The cobalt figure includes 1,100 tonnes of material sourced from its shuttered Mutanda… Read More Here

Mining in Zambia Copper

FQM CELEBRATES ITS SILVER JUBILEE

July 30, 2021August 2, 2021 admin

Twenty-five years ago this month, the company that would grow to become Zambia’s largest copper miner – First Quantum Minerals (FQM) – was born.It was during the privatisation era of the 1990s that the FQM CEO and Chairman Philip Pascall and local businessman Lamaswala Kwalela came up with the idea to set up a mine, after the duo’s initial plan to venture into agriculture and animal ranching failed to come to fruition. From humble beginnings processing the tailing dumps of copper ore at Bwana Mkubwa in Ndola, the company has… Read More Here

Gold Mining Companies Mining in DRC

Chinese company disappears after 2 years of Precious Materials exploitation in Bafwasende

July 30, 2021July 30, 2021 admin

The vice-president of the civil society of the territory of Bafwasende in the province of Tshopo, Mr. Philémon Tango staying in Kisangani, told the local press last weekend, that a Chinese company that exploited the precious materials in the Aruwimi River left without a trace. During 2 years of gold mining, this company did not respect the specifications of the local community, as required by law in this area. This situation worries the inhabitants of the region, including the local authorities, since this company making everyone believe that it was not… Read More Here

Covid-19 Diamond

Angola produced 3.1 million carats of diamonds in the first 4 months of 2021

July 30, 2021July 30, 2021 admin

Angola produced a total of 3.1 million carats of diamonds (620 kg) from January to April this year, international media reported on Thursday, citing a government official. This figure is reasonable, given the impact of the COVID-19 pandemic, said Alexandre Garrett, director of the Planning and Statistics Office of the Ministry of Mineral Resources, at a local forum on the banking sector and the ‘mining. Angola will continue to support operators to increase diamond production and reach the target of 9.1 million carats (1,820 kg) by 2022, added Garrett. For… Read More Here

Gold International Mining Companies

RANKED: World’s 10 biggest gold mining companies

July 30, 2021July 30, 2021 admin

Gold made history in 2020 when the price hit a record high in August as pandemic concerns weighed on investor sentiment. Gold mining has been a hallmark of commerce across the ages, and according to the USGS, about 244,000 tonnes of gold has been discovered to date, resulting in 187,000 tonnes of historical production, leaving the current underground reserves at 57,000 tonnes. Preliminary data shows about 3,200 tonnes of gold were produced globally over the past year. Even though many junior mining companies are engaged in the gold business, the industry today… Read More Here

Copper Mining in DRC New Mining Projects

The DRC can shake up the global hierarchy of copper producers thanks to the Kamoa-Kakula mine

July 30, 2021July 30, 2021 admin

According to data from the Fich Solutions research agency on forecasts of copper mining production in the world this year and the rest of the decade, the DRC will grow by 6.9% in 2021, driven by the entry into production from the Kamoa-Kakula mine. The asset owned by Ivanhoe Mines already confirms the expectations placed on it and can potentially help the DRC to overtake its competitors in the hierarchy of global producers. Good news, as observers agree to predict an explosion in demand for red metal. Global copper production… Read More Here

Gold International

Gold jumps to $ 1,831 an ounce on the international market

July 30, 2021July 30, 2021 admin

Gold prices jumped more than 1% on Thursday after moving sideways over the past week, as investors reacted to accommodative messages from the U.S. Federal Reserve after keeping the benchmark interest rate close to zero (as expected). The spot gold was up 1.3% at $ 1 830.06 an ounce at noon ET, near its highest level since mid-July. US gold futures gained a larger 1.7%, trading at $ 1,831.40 an ounce in New York. Fed Chairman Jerome Powell said on Wednesday the central bank was “far from considering a rate hike” despite optimism about the… Read More Here

Mining Careers Mining in Zambia

QUALITY CONTROL ENGINEER | MINING CAREER AT FQM, KALUMBILA, SOLWEZI, ZAMBIA

July 29, 2021July 29, 2021 admin

Requisition Number: JR2805| Country: Zambia | Contract Type: Fixed Term| Location: Solwezi Apply now Job description: Purpose of the role: To ensure compliance with OEM standards on all components under repair. This key objective will be to be present on site to inspect and ensure that the rebuild/repair company follow OEM recommendations when working on Mobile components. The candidate will also monitor the reliability of both the components repaired/rebuilt and the company executing the repairs/rebuild. The QC engineer is also responsible for the management and tracking of all warranties within the Mobile maintenance department. This role is… Read More Here