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Copper production to show “strong and consistent” growth for next decade 1 Copper International 

Copper production to show “strong and consistent” growth for next decade

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A new study by Fitch Solutions Country Risk and Industry Research forecasts 7.3 million tonnes will be added to global copper production through 2031 as a raft of projects in Chile, China and Congo come online. Fitch expects global copper mine production to increase by an average annual rate of 3.2% over 2022–2031, with annual output rising from 21.9mnt in 2022 to 29.2mnt by 2031 boosted by elevated copper prices and a positive demand outlooks Chile  The market researcher says top producer Chile will show a slight decline in the short term… Read More Here
Botswana's Morupule aims to boost coal output by 50% with new mine 2 Coal 

Botswana’s Morupule aims to boost coal output by 50% with new mine

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Botswana President Mokgweetsi Masisi on Wednesday commissioned a new 1.4-million tonne per year coal mine at state-owned Morupule Coal Mine (MCM), aiming to increase exports after demand for the fuel boomed since the start of the war in Ukraine. Despite the country’s estimated 212-billion tonnes of coal resources, MCM was its only operating mine until Minergy commissioned a new one in 2019 with an annual capacity of 1.2-million tonnes. Many European and Asian countries are scrambling for alternative sources of fuel given the global energy crisis, and Botswana wants to become a… Read More Here
Gold price rallies to weekly high as dollar pulls back 3 Gold International 

Gold price rallies to weekly high as dollar pulls back

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Gold rose by nearly 2% on Wednesday as a slight retreat in the dollar rekindled some of its safe-haven appeal, although prospects of sharp rate hikes are still keeping the precious metal near a 2-1/2-year trough. Spot gold climbed 1.7% to $1,657.00 per ounce by 12:40 p.m. ET, touching its highest in a week and erasing some of the losses from an extended slide that dragged prices down to the lowest since April 2020. US gold futures also advanced 1.7% to trade at $1,664.60 in New York. Meanwhile, the US dollar retreated… Read More Here
Konkola Copper Mines hires RMB to find new investor 4 Copper Mining in Zambia 

Konkola Copper Mines hires RMB to find new investor

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Zambia’s Konkola Copper Mines (KCM) has appointed Rand Merchant Bank (RMB) as financial advisor as the government searches for a new investor to expand the copper mine and smelter, the company’s state-appointed provisional liquidator said on Wednesday. Zambia’s previous government put KCM in the hands of a liquidator in May 2019, triggering a legal dispute with Vedanta Resources, KCM’s parent company. Zambia and Vedanta agreed this month to seek an out-of-court settlement. KCM is looking for a new equity partner willing to invest $1.2 billion to expand the mine underground,… Read More Here
Fitch report forecasts increase in copper production in the DRC with more than 3 million tonnes per year expected from 2031 5 Copper Mining in DRC 

Fitch report forecasts increase in copper production in the DRC with more than 3 million tonnes per year expected from 2031

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In a new report, Fitch Solutions Country Risk and Industry Research predicts that copper production will show “strong and steady” growth for the next decade both in the Democratic Republic of Congo and in other major producers such as Chile and China. This study estimates that 7.3 million tonnes of copper will be added to global copper production by 2031 as a series of projects in Chile, China and the DRC come into production. In the case of the DRC, this international rating agency points out that thanks mainly to… Read More Here
Zambia and Vedanta agree to seek out-of-court settlement 6 Copper Mining in Zambia 

Zambia and Vedanta agree to seek out-of-court settlement

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Zambia has agreed with Vedanta Resources Limited to pause hearings on their dispute over Konkola Copper Mines for six months and seek an “amicable settlement”, state mining investment firm ZCCM-IH said on Tuesday. Zambia in May 2019 handed control of KCM to a state-appointed provisional liquidator, triggering a protracted legal battle with owner Vedanta. Zambia’s mines minister said in July that he had told ZCCM-IH to seek an out-of-court settlement. Read More Here
With the exception of silver, prices for DRC mining export products are down this week from Sept 26 to 1 October 2022 7 Copper Cobalt Gold Mining in DRC Zinc 

With the exception of silver, prices for DRC mining export products are down this week from Sept 26 to 1 October 2022

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The general trend of the main mining export products of the Democratic Republic of the Congo is bearish on the international market in this week from September 26 to October 1, 2022, according to projections by the National Mercurial Commission of the Ministry of Foreign Trade. Only silver ore is showing an uptrend in the market this week. It is trading around USD 0.63 per gram against USD 0.61 per gram the previous week, a price increase of USD 0.02 recorded. Copper is down this week at 7,784.90 USD per tonne… Read More Here
Byrnecut and Sandvik collaborate on new MAKO ground engaging tool 8 Equipment & Technology International Mining technology 

Byrnecut and Sandvik collaborate on new MAKO ground engaging tool

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Sandvik, with the help of Australia-based mining contractor, Byrnecut, has developed a new and improved Ground Engaging Tool (GET) that, the OEM says, reduces downtime and cost-per-tonne mined. Over a four-year period, Byrnecut has been instrumental in the development of this new system, MAKO™. In underground mining, wear and tear is unavoidable, and nowhere is it sharper than for the buckets and the shrouds fitted to loaders. In the most abrasive conditions, the shrouds can wear out in just a few hundred hours of work. Replacing them – especially when… Read More Here
Epiroc releases new Boomer E10 and E20 drill rigs 9 Mining technology Equipment & Technology 

Epiroc releases new Boomer E10 and E20 drill rigs

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Superior coverage area and outstanding operator assistance features. The new Boomer E10 and E20 mark another breakthrough for automated face drilling rigs. Both rigs are available with optional battery-electric driveline for zero-emission tramming. The new Boomer E10 and E20 from Epiroc offer great flexibility and coverage thanks to their small footprint and powerful, multi-purpose BUT 45-booms. As part of Epiroc’s Smart series, the drill rigs are equipped with automation features that increase operator safety and productivity, and come with an optional battery-electric driveline for reduced environmental impact and healthier underground… Read More Here
Invictus Energy starts drilling first exploration well in Zimbabwe 10 Drilling 

Invictus Energy starts drilling first exploration well in Zimbabwe

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Australian-listed Invictus Energy has started drilling one of two exploration wells for oil and gas in the northern part of Zimbabwe, the company said on Monday. The 3.5-km deep well, situated in the Muzarabani-Mbire area, is part of the Cabora Bassa project in Zimbabwe, which is 80% owned and operated by Invictus through its interest in Geo Associates. Invictus said in a statement that the drilling of the first well, Mukuyu-1, began on Friday and will last between 50 and 60 days. Mukuyu, which will cost $16-million, is one of the largest oil and gas exploration prospects to be drilled globally in 2022, estimated at… Read More Here

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