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Copper price up as global smelting rebounds 1 Copper International 

Copper price up as global smelting rebounds

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Copper prices rebounded on Friday as investors scooped up material at lower prices after heavy losses the previous day on fears that strong US economic data could spur tighter monetary policy. Copper for delivery in July was up 1.3% from Thursday’s settlement price to $4.5205 ($9,9451 per tonne) early Friday afternoon on the Comex market in New York. It extended gains along with stock markets after US jobs data came in weaker than expected, easing fears that the Federal Reserve would withdraw stimulus. “It’s bouncing today because of bargain hunting.… Read More Here
Minister of Mines to speak at DRC Mining Week Online event 2 Mining in DRC Events & Expos 

Minister of Mines to speak at DRC Mining Week Online event

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The new DRC minister of mines, Her Excellency Antoinette N’Samba Kalambayi will be addressing delegates at the DRC Mining Week Online event, taking place from 14-15 June 2021. The country’s first female mining minister will speak at the opening keynote on 14 June at 12h00 GMT. Kalambayi will be joined by André Wameso, deputy chief of staff to the head of state in charge of economic and financial matters, DRC and Lord Popat, the UK prime minister’s trade envoy to the DRC. The opening keynote will also feature forward-thinking experts driving… Read More Here
Mining industry shows better outlook until 2022 (Report) 3 Mining Companies 

Mining industry shows better outlook until 2022 (Report)

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Global miners can continue to expect “bumper year of earnings” through 2022, as large rise in commodity prices underpins strong financial results for most players, new report from Fitch says  Solutions  . Despite very high profits,  Fitch  expects miners to keep capital spending under control, focusing instead on further debt reduction with the additional profits generated this year and next. According to the report, the industry is in an era of technological upheaval, changing consumption patterns, and environmental, social and governance (ESG) considerations that shape the future of market players and inevitably determine success. – or… Read More Here
Ivanhoe reports fatal accident at Kamoa-Kakula mine in Congo 4 Mining in DRC Mining safety 

Ivanhoe reports fatal accident at Kamoa-Kakula mine in Congo

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Ivanhoe Mines on Friday reported a fatal accident at its Kamoa-Kakula joint venture in Democratic Republic of Congo, which started producing copper concentrate last week. The accident occurred underground at the Kakula mine, Ivanhoe said in a statement, when a contractor’s employee was hit in the leg by a loose rock while working at one of the working faces, causing him to fall backwards and strike his head on a rock. “Despite immediate first-aid assistance by his colleagues, he passed away at the accident scene,” Ivanhoe said. The Kamoa-Kakula mine,… Read More Here
Ghana's mining sector shrank and gold production fell in 2020, industry body says 5 Gold 

Ghana’s mining sector shrank and gold production fell in 2020, industry body says

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Ghana’s gold production fell 12% in 2020 to 4.02 million ounces, from 4.57 million ounces in 2019, the country’s Chamber of Mines said on Friday, but retained its position as Africa’s top gold producer despite the impact of the coronavirus pandemic. The decline in production was the country’s biggest since 2004, Chamber of Mines President Eric Asubonteng said. Gold production by Ghana’s large-scale mines fell 4.8% to 2.8 million ounces in 2020, while the small-scale gold sector was more heavily impacted as the pandemic disrupted supply chains. Small-scale gold production fell 26%… Read More Here
Botswana's Khoemacau copper mine aims to start production this month 6 Copper New Mining Projects 

Botswana’s Khoemacau copper mine aims to start production this month

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Botswana’s new copper mine Khoemacau aims to start production at the end of this month with first sales expected in the third quarter of the year, its chief executive said on Wednesday. Situated in the Kalahari Copper Belt, which stretches from northeast Botswana to western Namibia, the Khoemacau mine will be the only operational one in the diamond-rich country after two other copper mines were placed under liquidation. “The first concentrate will be produced after completing the commissioning work and introduction of ore into the processing facility … which is… Read More Here
DRC: Jean-Pierre Kiwakana calls for transparency in the management of mining revenues 7 Mining in DRC Mining Policy Mining tax 

DRC: Jean-Pierre Kiwakana calls for transparency in the management of mining revenues

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During the closing ceremony of the April 2021 session, held on Tuesday, June 1 at the People’s Palace, the President of the Economic and Social Council (CES), Jean-Pierre Kiwakana Kimayala, appealed to the government for transparency in the management of mining revenues, especially since mining is a sector likely to boost the development of the Democratic Republic of the Congo. “The CES in its recommendations on the mining sector, encourages sustainable local development from the transparent and adequate management of mining revenues generated by the mining royalty, the 0.3% allocation… Read More Here
Cobalt prices flat despite temporary DRC export ban 8 Cobalt International Mining in DRC 

Cobalt prices flat despite temporary DRC export ban

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Global cobalt prices were steady yesterday, as market participants shrugged off a temporary ban on exporting cobalt and copper concentrate from the Democratic Republic of Congo (DRC). European prices for cobalt metal were assessed unchanged yesterday at $19.80-20.50/lb du Rotterdam for chemical and alloy grades. Chinese domestic prices were also stable at Yn334-365/kg ($52-57/t) ex-works, while cobalt hydroxide prices held at $18-19/lb cif China amid muted spot trading activity. Market participants have been largely unphased by the DRC government’s announcement last week that it would ban exports of copper and… Read More Here
Arctic Trucks signs electric light vehicle conversion, distribution pact with VivoPower 9 Equipment & Technology Mining technology 

Arctic Trucks signs electric light vehicle conversion, distribution pact with VivoPower

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VivoPower and its wholly-owned subsidiary, Tembo e-LV BV, have entered into a non-binding Heads of Terms with ruggedised vehicle converter, Arctic Trucks, for Arctic Trucks to convert and distribute Tembo electric light vehicles in Norway, Sweden, Iceland and Finland. Under the proposed agreement, Arctic Trucks would commit to purchase 800 Tembo e-LV conversion kits through December 2026. Based upon the company’s estimates, these orders could be worth an estimated $58 million in total value over the life of the proposed agreement. The proposed agreement must be finalised prior to June… Read More Here
Metso Outotec to deliver state-of-the-art Premier™ and Vertimill® mills to gold mines. 10 Equipment & Technology Mining technology 

Metso Outotec to deliver state-of-the-art Premier™ and Vertimill® mills to gold mines.

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The Turkish conglomerate Mapa Group has awarded Metso Outotec a contract for the delivery of key grinding technology to their gold mine expansions in Liberia and Burkina Faso. The value of the order is approximately EUR 19 million, and it has been booked in Minerals Q2/2021 orders received. “Mapa is a major conglomerate working in various industrial and construction sectors. For us, good support, reliable project execution, and sustainable equipment and process performance are essential. Alongside the existing good relationship between the companies, they’re the reasons why we selected Metso Outotec… Read More Here

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