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Gold regains shine after central bank buying drops to decade low 1 Gold International 

Gold regains shine after central bank buying drops to decade low

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Central banks may be regaining their appetite for buying gold after staying on the sidelines for the past year. Central banks from Serbia to Thailand have been adding to gold holdings and Ghana recently announced plans for purchases, as the specter of accelerating inflation looms and a recovery in global trade provides the firepower to make purchases. A rebound in buying — which had dropped to the lowest in a decade — would bolster the prospects for gold prices as some other sources of demand falter. “Long term, gold is… Read More Here
Argonaut announces plans for a Zambian venture 2 Mining in Zambia Cobalt Copper New Mining Projects 

Argonaut announces plans for a Zambian venture

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Junior Argonaut Resources announced that it has placed 693.3-million shares, at a price of 0.75c a share, under its existing placement capacity to fund a drilling work in Zambia. The firm has completed a A$5.2-million private placement to professional and sophisticated investors to fund the Zambian venture. “The funds raised will allow Argonaut to resume drilling at the Nyungu copper/cobalt deposit in north-western Zambia. The Nyungu deposit is over 1 700 m in strike length and urgently requires infill drilling for resource estimation purposes as well as exploration drilling for… Read More Here
DRC voted for being the biggest contributor to the 7.8% growth in world copper production in 2021 (Fitch) 3 Mining in DRC Copper 

DRC voted for being the biggest contributor to the 7.8% growth in world copper production in 2021 (Fitch)

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The entry into production on May 25 of the Kamoa-Kakula mine in the province of Lualaba will significantly boost the volume of copper production in the Democratic Republic of the Congo. This is supported in particular by the rating agency Fitch which estimates a growth of 7.8% in world copper production which will be induced by production from the DRC. For Fitch, copper mines currently operating around the world are expected to deliver 21.8 million tonnes this year. This represents a growth of 7.8% year on year, according to the new report… Read More Here
Investors back Manono Lithium and Tin Project in $40M placement 4 Mining in DRC Lithium New Mining Projects Tin 

Investors back Manono Lithium and Tin Project in $40M placement

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Highlights• AVZ receives firm commitments to raise $40 million (before costs) from sophisticated, professional and institutional investors• Share placement heavily oversubscribed by $10 million which has been accepted by the AVZ Board• AVZ Board has opted not to proceed with a Share Purchase Plan (“SPP”) at this time due to heavily oversubscribed placement.• Placement was well supported by high-quality institutions from Australia and North America, and includes a European-based physical energy commodities merchant• Issue price of $0.13 per share represents a discount of 18.8% to the last closing price.• Proceeds… Read More Here
Lafarge Zambia stock appreciation, a correction triggered by Huaxin M&A deal 5 Cement Mining in Zambia 

Lafarge Zambia stock appreciation, a correction triggered by Huaxin M&A deal

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One stock trading actively on the Lusaka Securities Exchange – LuSE that has stolen traders attention is Lafarge Zambia Plc (ZM:ISIN0000000011) that has seen a surge in positive price momentum over the last few weeks. Currently pegged at a market capitalisation of K1.95 billion (circa $87 million) compared to a $150 million enterprise value that Huaxin China will pay for the 75.0% majority stake in Lafarge Zambia, Lafarge stock has rallied 95.0% to K9.78 per share between 18-30 June resulting in a x3.5 amplification in market capitalisation from start of… Read More Here
Global fiscal infrastructure spend glues coppers bull case for the next decade 6 Copper International Mining in DRC Mining in Zambia 

Global fiscal infrastructure spend glues coppers bull case for the next decade

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It’s an element with atomic number 29 and relative atomic mass of 63.546 on Mendeleevs periodic table for chemical engineers, while scientists in these pandemic times say the metal is poisonous to the deadly cororna virus. To Chile, Peru, Democratic Republic of Congo, Indonesia, Mongolia and Zambia it spells tax revenues for public finance balancing. To the business faculty, Dr. Copper is a bellwether and barometer for economic pulse. Copper, the metal used in manufacture of electric wires has just cemented its bullish case on the London Metal Exchange –… Read More Here
FQM IN CRACKDOWN ON JOB SCAMS 7 Career Mining in Zambia 

FQM IN CRACKDOWN ON JOB SCAMS

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First Quantum Minerals (FQM) has intensified its clampdown on job scams to help prospective employees avoid extortion by fake job agents. The mining giant is concerned with the number of people swindled out of their hard-earned money over a promise of employment, by criminals pretending to represent the company’s operations at Kansanshi Mine in Solwezi and Sentinel Mine in Kalumbila. Kansanshi Mining General Manager Anthony Mukutuma said “We have noted with great concern the number of people being tricked into paying for a promise of a job interview at our… Read More Here
Anglo’s tax, economic contribution to S Africa totals nearly $8.5bn in 2020 8 Uncategorized 

Anglo’s tax, economic contribution to S Africa totals nearly $8.5bn in 2020

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Global miner Anglo American’s total tax and economic contribution in South Africa in 2020 was $8.49-billion, the group’s Tax and Economic Contribution Report for 2020 shows. Total tax borne and collected was $2.03-billion. Corporate income tax was $1.23-billion; royalties and mining taxes were $356.4-million; other payments borne were $56.9-million; and taxes collected were $383.9-million. For the year, Anglo’s capital investment in South Africa was $1.25-billion; its wage and related payments were $1.63-billion; its in-country procurement was $3.11-billion; its total procurement was $3.53-billion; and its corporate social investment was $54.5-million. Globally, Anglo’s total… Read More Here
Metso Outotec wins NALCO bauxite grinding contract 9 Equipment & Technology Mining Supply Tenders Mining technology 

Metso Outotec wins NALCO bauxite grinding contract

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India’s National Aluminium Company (NALCO) has selected Finnish mining operations and technology firm Metso Outotec for a contract worth up to € 15 million (US$17.8 million) to install a bauxite grinding package at its Damanjodi Alumina Refinery in Odisha state. Metso Outotec will supply two ball mills with a capacity of 434 tph each, as well as apron feeders, agitators, slurry pumps, instrumentation. It will also carry out the basic design of bauxite silos and further engineering. “We are extremely happy to continue our co-operation with NALCO. This is the… Read More Here
ELECTRICAL ENGINEER | MINING CAREERS AT BARRICK LUMWANA, ZAMBIA 10 Mining Careers Mining in Zambia 

ELECTRICAL ENGINEER | MINING CAREERS AT BARRICK LUMWANA, ZAMBIA

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Category: Maintenance| Requisition number: 092559| Location: Lumwana Mine, Kalumbila Zambia. |Reporting to: Senior Electrical Engineer Apply now Reporting to: Senior Electrical Engineer. Lumwana Mining Company Limited (LMC), a copper mining company owned by Barrick Gold Corporation is situated in the Northwestern region of Zambia, some 300 km west of the Zambian Copperbelt and 95 km south west of the provincial capital of Solwezi. The mine is a multi-pit, multi staged operation mining approximately 100MT of ore and waste per annum and producing copper concentrates containing an average of 120,000 tonnes of copper metal per year over… Read More Here

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