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DRC: management of 0.3% of turnover, civil society protests against the obligation imposed to cover the mission expenses of agents of the Ministry of Mines 1 Mining in DRC 

DRC: management of 0.3% of turnover, civil society protests against the obligation imposed to cover the mission expenses of agents of the Ministry of Mines

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Civil society organizations members of the Coordination of Advocacy Actions for the Governance of Natural Resources are protesting against the decision imposed on mining companies to bear the mission expenses of agents of the Ministry of Mines and Social Affairs deployed in the provinces for the installation of members of organizations specializing in the management of the minimum endowment of 0.3% of turnover. As part of the establishment of specialized bodies for the management of the minimum allocation of 0.3% of the turnover of mining companies, civil society organizations call… Read More Here
DRC: in 2019, the mining sector represented 99.3% of the country's exports and contributed 24.79% to jobs 2 Mining in DRC Cobalt Copper 

DRC: in 2019, the mining sector represented 99.3% of the country’s exports and contributed 24.79% to jobs

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The mining sector of the Democratic Republic of Congo (DRC) remains, to this day, the key sector of the Congolese national economy. In 2019, exports from this sector were estimated at 99.3% of the country’s total exports and contributed 24.79% in jobs in 2019, informs a report by the non-governmental organization ” Makuta ya Maendeleo” on the Mining Fund for Future Generations (FOMIN). Considered as one of the richest countries in the world in natural resources, in particular mines, the Democratic Republic of Congo (DRC) is the world’s leading producer… Read More Here
Atlantic Lithium aims to begin production at Ghana mine in 2024 3 Lithium 

Atlantic Lithium aims to begin production at Ghana mine in 2024

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Australia’s Atlantic Lithium (LON: ALL) (ASX: A11) is targeting first production at its Ewoyaa project in Ghana, which would be the country’s first lithium mine, in the second half of 2024. The exploration and development company, which also has lithium projects in Ivory Coast, estimates the operation has the potential to generate nearly $5 billion in revenue over its 12.5-year lifetime. Reporting financial results for the year 2022, the Africa-focused exploration and development firm highlighted its agreement with Piedmont Lithium (ASX, NASDAQ: PLL), which would allow Atlantic Lithium to fund Ewoyaa, via a… Read More Here
Zimbabwe wants half of royalties paid in gems, precious metals 4 Diamond Gold 

Zimbabwe wants half of royalties paid in gems, precious metals

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Zimbabwe wants gold, diamond and platinum miners to pay half of their royalties to the government in the commodities themselves and the rest in cash, as the southern African country seeks to build its mineral reserves. The Treasury was concerned that the country does not have reserves of the minerals, which “serve as a source of trust in a country given that they carry no credit or counter party risks,” Secretary for Finance George Guvamatanga said in a letter sent to the Ministry of Mines on Sept. 2 and seen… Read More Here
Gold enters the last quarter of 2022 depressed 5 Gold International 

Gold enters the last quarter of 2022 depressed

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Gold started 2022 well, but the recent months were pretty awful. What will it be in the final quarter of the year? Ladies and gentlemen, please welcome the final quarter of the year! What were the first nine months of 2022 for the gold market? Well, in Q1 there was an impressive rally in gold, with the yellow metal staying above $2,000 for a while. However, the next few months brought a gradual decline in gold prices. After several weeks of being traded between $1,700 and $1,800 during the summer, in September,… Read More Here
Sandvik to book charges of $471 million in third quarter 6 Equipment & Technology International Mining technology 

Sandvik to book charges of $471 million in third quarter

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Swedish metal-cutting tools and mining gear maker Sandvik said on Thursday it will book non-recurring charges of about 5.3 billion Swedish crowns ($471.56 million) in the third quarter. A capital loss of some 4.7 billion crowns stems from the distribution of its former subsidiary Alleima to shareholders, which will be reported under discontinued operations. Sandvik distributed and listed its speciality steel business on the Nasdaq Stockholm exchange on Aug. 31 of this year, renaming it Alleima. Approximately 600 million crowns of losses stem from Sandvik’s wind-down in Russia and will… Read More Here
Alrosa discovers 22 new diamond deposits in Zim 7 Diamond 

Alrosa discovers 22 new diamond deposits in Zim

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Russian miner Alrosa PSJC has discovered 22 new diamond deposits in Zimbabwe, according to the southern African nation’s president, Emmerson Mnangagwa. Alrosa will only be allowed to work on two of the diamond deposits, while the rest will be made available to other investors, Zimbabwe’s Information Ministry said, citing comments by Mnangagwa in New York at the weekend. The president attended a business meeting on the sidelines of the United Nations General Assembly. The Russian company declined an emailed request for comment In 2019, Alrosa signed an agreement with the… Read More Here
Makuta Ya Maendeleo Consortium calls for redefinition of the objectives, regulatory and institutional framework of FOMIN 8 Mining in DRC 

Makuta Ya Maendeleo Consortium calls for redefinition of the objectives, regulatory and institutional framework of FOMIN

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The Makuta Ya Maendeleo Consortium calls for the redefinition of the objectives, the regulatory and institutional framework of the FOMIN as well as the management and investment rules of this Fund. This is what emerges from its recent report analyzing the institutional and regulatory framework of the Mining Fund for Future Generations (FOMIN) established by the revised Mining Code of March 2018. According to a press release from this non-governmental organization, the conclusions of this analysis showthat due to the absence of a clear vision, numerous and inconsistent objectives and… Read More Here
Gold price drops as US data signal more aggressive Fed tightening 9 International Gold 

Gold price drops as US data signal more aggressive Fed tightening

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Gold fell, caught up in a broad selloff as investors sought shelter in cash after the latest US economic data paved the way for more aggressive tightening from the Federal Reserve. Better-than-expected 2Q core PCE, a measure of inflation, and personal consumption numbers on Thursday suggested the US economy can handle further Fed tightening. Weekly jobless claims fell to the lowest since April, showing a persistently tight labor market. Bullion earlier fell as much as 1.1% on renewed strength in the US dollar as recession concerns returned after the Bank… Read More Here
ARTISAN BOILERMAKER | MINING CAREERS AT FQM, SOLWEZI, ZAMBIA 10 Mining Careers Mining in Zambia 

ARTISAN BOILERMAKER | MINING CAREERS AT FQM, SOLWEZI, ZAMBIA

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Requisition Number: JR7595 | Contract Type: Fixed Term | Country: Zambia  Location: Solwezi   Category: Engineering Apply now Job description: Purpose To execute maintenance functions according to standards and instructions to ensure maximum availability, reliability and safety of equipment, tools and employees is achieved. The incumbent will perform maintenance activities in a safe and effective manner with the aim of delivering results that meet quality standard and company expectations. Key Responsibilities This position will be required to adhere to all relevant requirements, policies, procedures and legal regulations pertaining to health, safety, environment and quality, as well as finance, human… Read More Here

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