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Gold price rebounds on US inflation data 1 Gold International 

Gold price rebounds on US inflation data

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Gold prices rebounded on Tuesday from their lowest levels in more than a week after new data showing a sharp rise in US inflation bolstered bullion’s appeal as an inflation hedge and weighed on the dollar. Spot gold reversed to a gain of 0.7% to $1,746.41 an ounce by 1:40 p.m. EST, after hitting an intraday low of $1,723.67 earlier in the session. US gold futures advanced 0.8% to $1,747.30 an ounce in New York. Meanwhile, US consumer prices rose by the most in more than 8-1/2 years in March,… Read More Here
Copper price turns higher on record Chinese imports 2 Copper International 

Copper price turns higher on record Chinese imports

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China’s March copper imports rose 25% from a year earlier, customs data showed on Tuesday, amid increasing demand for the metal. Arrivals of unwrought copper and products totalled 552,317 tonnes last month, the General Administration of Customs said, up from 441,926 tonnes in March 2020, and up 34.7% from a 13-month low of 410,040 tonnes in February. China’s manufacturing expanded at a faster-than-expected pace in March, while activity in the construction sector also increased amid warmer temperatures. Copper imports in the first quarter totalled 1.44 million tonnes, up 11.9% year-on-year,… Read More Here
DRC appoints Antoinette N'Samba Kalambayi as mining minister 3 Mining in DRC Mining Personality 

DRC appoints Antoinette N’Samba Kalambayi as mining minister

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Democratic Republic of Congo’s prime minister announced a new Cabinet on Monday, completing a government overhaul by President Felix Tshisekedi that strengthens his hold on power. The new government is a further blow to Tshisekedi’s predecessor and former coalition partner, Joseph Kabila, who stepped down in January 2019 but maintained control of some ministries, the legislature, judiciary and security services. Since announcing the end of their alliance in December, President Felix Tshisekedi has succeeded in replacing Joseph Kabila’s allies at the head of the parliament and senate, as well as… Read More Here
Angola’s diamond sector on a strong footing 4 Diamond 

Angola’s diamond sector on a strong footing

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Angola may be the world’s fifth-largest producer of diamonds but the sector is a far cry from reaching its true potential. Currently, only 40% of the country’s known diamond resources are being mined and recovered. Hurdles to development and foreign investment in the past have been mainly as a result of regulatory policies and a weak legislation. However, AHMED ABDEL-HAKAM, senior associate of Eversheds Sutherland in the UK believes that the right policies are now in place to steer the country’s diamond sector in the right direction. Gerard Peter reports. Absel-Haam was speaking as a… Read More Here
Metso Outotec wins Sandfire Motheo equipment order 5 Equipment & Technology Mining technology 

Metso Outotec wins Sandfire Motheo equipment order

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Metso Outotec has inked a deal with Sandfire Resources’ T3 Motheo in Botswana to provide its main mineral processing technology for the copper-silver operation’s concentrator. The €17 million (US$20 million) transaction, booked in the company’s Q1 numbers for the minerals segment of its business, will be delivered during this year and 2022. The company said the 3.2-million-tonnes-per-year greenfield plant to be constructed in the Kalahari copper belt has the potential to be expanded to 5.2Mt/y. Under the scope of the deal, Metso Outotec will deliver all of the key minerals… Read More Here
DR Congo announces formation of new government 6 Mining in DRC Mining Personality 

DR Congo announces formation of new government

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Democratic Republic of Congo’s Prime Minister has announced a new cabinet, completing a government overhaul by President Felix Tshisekedi that strengthens his hold on power. The new government is a further blow to Tshisekedi’s predecessor and former coalition partner, Joseph Kabila, who stepped down in January 2019 but maintained control of key ministries, the legislature, judiciary and security services. The president had in February named the head of state-owned mining giant Gecamines, Jean-Michel Sama Lukonde, as prime minister to succeed Sylvestre Ilunga Ilunkamba, who was forced out after a coalition… Read More Here
How large miners and states stifle local capital and innovation in DR Congo 7 Mining in DRC 

How large miners and states stifle local capital and innovation in DR Congo

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Over the last few decades, African governments have removed restrictions on and privatised their mining industries, attracting significant foreign direct investment. As a result, the continent’s mining industry has become dominated by transnational corporations such as Glencore, AngloAmerican and Barrick Gold. Alongside these corporate giants, operating largely beyond the formal reach and control of African governments, sits the artisanal and small-scale mining sector. This is defined by the OECD as mining operations with predominantly simplified forms of exploration, extraction, processing, and transportation. Roughly one quarter of the global gold, tin and tantalum supply is produced by artisanal and small-scale… Read More Here
ZCCM to appeal against latest Court of Appeal ruling in Konkola dispute 8 Mining in Zambia Mining Companies 

ZCCM to appeal against latest Court of Appeal ruling in Konkola dispute

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Investment holding company ZCCM has advised that it intends to appeal against the latest decision of the Zambian Court of Appeal and to stay the court’s judgment in a matter between ZCCM and diversified miner Vedanta Resources. The High Court of Zambia ruled against Vedanta on August 7, 2019, following which Vedanta appealed to the Court of Appeal on August 13, 2019, against the decision of the High Court, which denied Vedanta their application to stay the liquidation proceedings and refer the matter to arbitration. The Court of Appeal on November… Read More Here
Coal India signs mining's largest dragline order in decades for five 1,960 t machines from Russia's Uralmashplant 9 Coal Equipment & Technology International 

Coal India signs mining’s largest dragline order in decades for five 1,960 t machines from Russia’s Uralmashplant

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Uralmashplant JSC (UZTM), part of the UZTM-KARTEX Group, the leading Russian manufacturer of mining equipment, recently won the tender for supply of five walking draglines to the leading Indian mining concern Coal India Ltd (CIL). On March 25, in Kolkata, Yan Tsenter, CEO of UZTM-KARTEX Managing Company and Binay Dayal, Technical Director of Coal India Ltd., in the presence of the Chairman of the CIL Board of Directors Pramod Agrawal signed the contract which is worth more than $350 million. This is the largest transaction for UZTM over the past… Read More Here
CATL takes stake in China Moly cobalt mine for $137.5 million 10 Copper Cobalt Mining in DRC 

CATL takes stake in China Moly cobalt mine for $137.5 million

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Chinese battery maker Contemporary Amperex Technology Co Ltd (CATL) said on Sunday its subsidiary would take a stake in China Molybdenum Co’s Kisanfu copper-cobalt mine in the Democratic Republic of Congo (DRC) for $137.5 million. The investment gives CATL access to one of the world’s largest undeveloped sources of cobalt, an ingredient in electric vehicle (EV) batteries. Cobalt prices are up more than 50% this year on surging EV demand and concerns of a supply squeeze. Under a strategic partnership agreement, Ningbo Brunp CATL New Energy Co will take 25%… Read More Here

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