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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

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

Copper Mining in DRC New Mining Projects

Kamoa Copper Records Quarterly Production of 97,820 Tonnes of Copper in Q3 2022

October 5, 2022October 5, 2022 admin

Ivanhoe Mines Co-Chairs Robert Friedland and Yufeng “Miles” Sun are pleased to announce that the Kamoa-Kakula Mining Complex in the Democratic Republic of Congo has set a new quarterly production record in the third quarter of 2022, with 97,820 tonnes of copper in concentrate produced. Kamoa-Kakula’s Phase 1 and 2 concentrator plants set a monthly production record in September 2022 of 33,484 tonnes of copper in concentrate, and continue to regularly surpass the combined throughput design capacity of 7.6 million tonnes per annum, following the early commissioning of Phase 2 in April 2022.… Read More Here

Equipment & Technology Mining in Zambia Mining technology

Accredited local support underpins Grindex Pumps in Zambia

October 5, 2022October 5, 2022 admin

Local Zambian company IES says it has made rapid progress this year as Integrated Pump Technology’s distributor in that region, raising the service bar and expanding the footprint of the Grindex brand of submersible pumps. Now operating its own authorised Grindex service centre and holding considerable stock to meet customer demand, IES is adding local value to the established Grindex reputation, says Integrated Pump Technology General Manager Jordan Marsh. The Zambian Copperbelt has some of the wettest mines in the world, making dewatering a critical function on most mines. This… Read More Here

Equipment & Technology International Mining technology

Fortescue doubles green hydrogen spending as Europe push expands

October 5, 2022October 5, 2022 admin

Fortescue Metals Group Ltd. more than doubled planned capital expenditure for its green energy arm as it added a new project in Germany, bolstering a push to deliver cleaner fuels to Europe. The firm’s Fortescue Future Industries unit will invest $130 million with Tree Energy Solutions, known as TES, to become a partner in a gas import terminal and planned green energy hub in Wilhelmshaven, Germany. Under the plans, FFI will take a 30% stake in a TES unit, the Perth-based company said Wednesday in a statement. First delivery of… Read More Here

Gold International

Gold price breaks $1,700 as weak US data shifts sentiment

October 5, 2022October 5, 2022 admin

Gold continued its rally on Tuesday to an advance past $1,700 per ounce, as weak US data drove a significant sentiment shift in the precious metals markets. Spot gold rose 1.1% to $1,719.04 per ounce by 10:40 a.m. ET, its highest in three weeks. US gold futures gained 1.5% to trade at $1,727.60 per ounce in New York. Meanwhile, benchmark US 10-year Treasury yields fell to a near two-week low, while the dollar extended its decline, making gold cheaper for other currency holders. Bullion is now closing in on its 50-day moving… Read More Here