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DRC: Albert Yuma pushes F. Tshisekedi to recruit cabinet in claiming 6.5 billion USD loss from Gécamines and multinationals 1 Mining in DRC Mining Policy 

DRC: Albert Yuma pushes F. Tshisekedi to recruit cabinet in claiming 6.5 billion USD loss from Gécamines and multinationals

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Group photo with the CES office, in the middle Abert Yuma with Jean-Pierre Kiwakana, CES president on his left.  For the President of the FEC and President of the Board of Directors of Gécamines, what he qualifies as injustice must be corrected to allow the Congolese State to come within its rights in relation to the “unbalanced” joint ventures signed in early 2000s between Gécamines and multinational mining companies. Beyond the structural imbalances in the joint ventures signed between Gécamines and its mining partners, the industrial and financial management practices… Read More Here
Copper price resurgent as workers strike at BHP’s Spence, Escondida mines 2 Copper International 

Copper price resurgent as workers strike at BHP’s Spence, Escondida mines

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Copper prices jumped on Thursday after a union of remote workers for BHP’s Escondida and Spence copper mines in Chile walked off the job, fueling uncertainty over the global supply of the red metal. The strike at the world’s largest copper mine, and at the smaller Spence comes as copper prices have spiked amid soaring demand as the world’s largest economies revive following more than a year of coronavirus-induced stagnation. Copper for delivery in July surged more than 3% to $4.677 ($10,310 per tonne) on Thursday afternoon on the Comex market in… Read More Here
Government and air transport operators reach compromise on ticket cost reduction for domestic flights - DRC 3 Mining in DRC Transport and Logistics 

Government and air transport operators reach compromise on ticket cost reduction for domestic flights – DRC

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A compromise was finally reached this Thursday, May 27 between the government and operators of the air transport sector about the drop in the cost of tickets for domestic flights. This ,  after several weeks of discussions. Jean-Marie Kalumba Yuma, Minister of the Economy and the heads of the aviation companies expected by mutual agreement to set in the next few days a decree setting the new prices for the plane ticket for domestic flights.   At the end of this meeting, Norbert Sengamali, President of the committee of air carriers at the Federation… Read More Here
DRC bans export of cobalt, copper concentrate – Fastmarkets 4 Cobalt Copper Mining in DRC 

DRC bans export of cobalt, copper concentrate – Fastmarkets

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An order sent to miners in the Democratic Republic of Congo (DRC) on Wednesday has banned the export of copper and cobalt concentrate, according to Fastmarkets. The data provider said it confirmed with three companies operating copper and cobalt mines in DRC that they all received the notice, signed by Bernard Bosele Pilipili the provincial director of Customs and Excise in the Katanga province of DRC. At present, the trucks carrying copper and cobalt concentrate could still pass through the border, and the effective date of the order is not mentioned,… Read More Here
World: The price of a gram of gold settled at 59.80 USD on weekdays (official) 5 Cobalt Copper Gold Mining in DRC Tin Zinc 

World: The price of a gram of gold settled at 59.80 USD on weekdays (official)

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The price of a gram of gold saw a marked improvement in the international market during the week of May 24-29, 2021, trading at $ 59.80 versus $ 57.66 in the week of May 17-22, 2021. These indications on the trend of commercial mining products were revealed in a press release on Wednesday, May 26, 2021, by the Congolese Ministry of Foreign Trade. The same document informs that Silver and Tantalum are also experiencing a price rise in the international market during the same period, trading at $ 0.90 vs.… Read More Here
Gold price tops $1,900 for first time since early January 6 Gold International 

Gold price tops $1,900 for first time since early January

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Gold prices topped $1,900 for the first time since the early days of 2021, as investors continue piling money into gold-backed funds while US Federal Reserve officials commit to a dovish stance. Spot gold rose 0.2% to $1,901.88 per ounce by noon ET, after hitting its highest since January 8 at $1,911.95 an ounce. US gold futures gained 0.4%, trading at $1,904.00 an ounce in New York. In a Yahoo Finance interview on Tuesday, Fed Vice Chair Richard Clarida said the US central bank could curb an outbreak of inflation… Read More Here
Central Copper Resources raises US$3 million for acquisition 7 Copper Mining in Zambia 

Central Copper Resources raises US$3 million for acquisition

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Central Copper Resources (CCR) has announced the successful completion of its US$3 million group pre-IPO capital raise and the acquisition of Armada Minerals in Zambia. The Company has successfully raised US$3 million in pre-IPO funding, including an investment of US$2 million from a TSX and NYSE-listed US$1 billion market cap. company. CCR will now look to finalise the necessary documentation ahead of its planned IPO next quarter. Kevin van Wouw, CEO, commented: “We are delighted to have completed this pre-IPO fundraising of c.US$3 million, with support from both existing and… Read More Here
Copper price rises as looming strikes in Chile add to supply worries 8 Copper International 

Copper price rises as looming strikes in Chile add to supply worries

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Copper prices advanced on Wednesday, as a workers’ strike in Chile threatened already low supplies in the raw material market. Futures prices for copper metal for delivery in July was up 0.51%, at $4.52 ($9,944 per tonne) on Wednesday afternoon on the Comex market in New York. A union representing workers at BHP Group’s Escondida and Spence copper mines has rejected the company’s contract offer, Reuters reported, and called on members to walk off the job starting Thursday. Escondida is the world’s largest copper mine. The 205 workers run the global resources… Read More Here
Iron ore price slides as China vows to look into “abnormal transactions” 9 International Iron Ore 

Iron ore price slides as China vows to look into “abnormal transactions”

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Iron ore price tumbled on Wednesday after the Shanghai Futures Exchange vowed to look into “abnormal transactions”, piling on the government’s earlier attempts to temper commodity inflation through warnings. Iron ore price on the Dalian Commodity Exchange dropped 6.1% to 994.50 ($155.59) yuan a tonne, just above the day’s low of 992 yuan ($155.20), its weakest since April 12. Shanghai construction steel rebar ended daytime trading 6% lower at 4,667 yuan ($729.79) a tonne, after earlier touching 4,661 yuan, its lowest since March 24. Trading began with markets already under pressure… Read More Here
Congo earthquake disrupts tin ore exports 10 Mining in DRC Tin 

Congo earthquake disrupts tin ore exports

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An earthquake in Goma, a city in Democratic Republic of Congo near the border with Rwanda, is delaying exports of tin ore from mineral-rich North Kivu province, two sources with direct knowledge told Reuters on Wednesday. This is likely to exacerbate shortages of the soldering metal, prices of which last week touched 10-year highs at $30,650 a tonne. The sources said tin ore producers have been unable to obtain the permits they need to export the material because government offices in Goma, North Kivu’s capital city, are shut due to… Read More Here

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