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Zambia’s long-neglected copper riches are turning heads again 1 Copper Mining in Zambia 

Zambia’s long-neglected copper riches are turning heads again

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MAJOR mining companies are getting increasingly involved in the Central African Copper Belt, expanding existing operations and exploring for new discoveries as the positive fundamentals for copper in terms of soaring demand and limited new supply remain in place. Those groups include Barrick Gold, Anglo American, Ivanhoe Mines and First Quantum, which are stepping up their investments in copper mining in Zambia, the Democratic Republic of Congo (DRC) and even Angola. The driving forces behind the copper boom are that demand for the metal from EV (electrical vehicle) and renewable energy… Read More Here
Gold hits 1-month low as robust dollar, hawkish Powell dent appeal 2 Gold International 

Gold hits 1-month low as robust dollar, hawkish Powell dent appeal

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Gold prices fell to a one-month low on Monday, as US Federal Reserve Chair Jerome Powell’s stance to continue with aggressive monetary policy to bring down inflation dented the zero-yielding metal’s appeal and boosted the dollar. Spot gold had shed 0.7% to $1 724.88 per ounce by 05:50 GMT. Prices earlier fell to $1 720.55, their lowest since July 27. US gold futures dropped 0.8% to $1 736.40/oz. The dollar index scaled a 20-year high, making greenback-priced bullion more expensive for buyers holding other currencies.  Gold’s momentum has turned lower and while at some point there will be a safe-haven flow,… Read More Here
Copper price back bellow 8,000 as hawkish Fed outweighs supply risk 3 Copper International 

Copper price back bellow 8,000 as hawkish Fed outweighs supply risk

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The copper price fell on Monday as a hawkish Federal Reserve crimped the outlook for demand, outweighing supply risks. Federal Reserve Chair Jerome Powell signaled higher-for-longer interest rates to curb inflation at the Fed’s Jackson Hole symposium on Friday, sparking broad declines across financial assets. The worsening sentiment on copper demand took precedence over further signs that supply is under threat, with Codelco becoming the latest major producer to cut output guidance. Copper for delivery in December fell 3.5% on the Comex market in New York, touching $3.56 per pound ($7,832 per… Read More Here
DRC: here are the five provinces that produced more than 75% of artisanal gold in the first half of 2022 4 Gold Mining in DRC 

DRC: here are the five provinces that produced more than 75% of artisanal gold in the first half of 2022

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In the first half of 2022, five (5) provinces of the Democratic Republic of Congo (DRC) stood out from the twenty-one (21) others in the production of artisanal gold. According to official statistical data provided by the Technical Unit for Coordination and Mining Planning (CTCPM), these five provinces alone produced more than 75% of total gold production in the artisanal sector of the Democratic Republic of Congo during the period under review. These include the province of Bas-Uélé, which has a production of 28.70 kg of gold, or 29.61% of national… Read More Here
Tesla’s battery metals bill balloons to $100 billion 5 Battery Metals International 

Tesla’s battery metals bill balloons to $100 billion

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Elon Musk had plenty of advice for the mining and metals industry at the company’s Battery Day event in September 2020, where the road map to a $25,000 Tesla was laid out. A couple of days after the event Musk confirmed in a tweet that Tesla will reach production of 20 million vehicles per year “probably before 2030.”   Tesla has been ramping up output at an impressive pace despite lockdowns and power problems in China and a late start in Germany, but the scale of the task is put into perspective by Musk’s proud… Read More Here
Copper price rises on China demand optimism 6 Copper International 

Copper price rises on China demand optimism

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Copper prices rose for a second straight session on Friday as hopes grew that fresh stimulus measures by China would boost demand amid declining inventories. Copper for delivery in September rose 2.4% on the Comex market in New York, touching $3.78 per pound ($8,316 per tonne). The most-traded September copper contract on the Shanghai Futures Exchange climbed 1.7% to 63,480 yuan ($9,260.66) a tonne by the midday break. Copper has rebounded by 17% since touching 20-month lows on July 15, but it is still down 25% from a record peak hit in… Read More Here
Gold price retreats on Powell’s remarks at Jackson Hole meeting 7 Gold International 

Gold price retreats on Powell’s remarks at Jackson Hole meeting

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Gold declined again on Friday in the wake of Federal Reserve Chair Jerome Powell’s remarks at the Jackson Hole economic symposium in Wyoming, where he warned against any idea that the US central bank would start loosening monetary policy soon. Spot gold fell 1.2% to $1,736.93 per ounce by noon ET, erasing its gains for the week. US gold futures were down 1.3% to $1,749.10 per ounce in New York. Gold’s decline comes after Powell signalled that the US central bank will likely keep raising interest rates and leave them elevated for… Read More Here
Epiroc to acquire AARD Mining Equipment 8 Equipment & Technology Mining technology 

Epiroc to acquire AARD Mining Equipment

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Swedish mining OEM Epiroc has said it will acquire AARD Mining Equipment, a South African mining equipment manufacturer. AARD, based near Johannesburg, South Africa, designs, manufactures, services and supports a wide range of mining equipment, specializing in low-profile underground machines for mines with low mining heights.   Financial details of the deal were not disclosed. The company’s customers are mainly in the Southern Africa region. AARD has approximately 200 employees and had revenues in the fiscal year ending June 30, 2022, of about SK650 million (US$61.4 million).  “AARD has reputable and… Read More Here
Artisanal gold mining at the center of exchanges between Godard Motemona and the provincial ministers of South Kivu, Maniema and the USAID representative 9 Artisanal mining Gold Mining in DRC 

Artisanal gold mining at the center of exchanges between Godard Motemona and the provincial ministers of South Kivu, Maniema and the USAID representative

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The city of Kinshasa hosted, on August 24 to 25, 2022, a seminar with the aim of taking stock and evaluating the behavior of the Artisanal Gold Traceability Initiative (ITOA) since its launch. . It is in this context that the Deputy Minister of Mines, Godard Motemona received in audience the same Thursday evening, a sample of actors who took part in these meetings.  During these exchanges, the hosts made the restitution of the resolutions resulting from these days of reflection to the Vice-Minister. Facing the press, the Provincial Minister of… Read More Here
DRC: in the first half of 2022, copper-cobalt production is estimated at 1,144,965.75 tonnes of copper, 61,774.64 tonnes of cobalt and 6,374.73 tonnes of zinc 10 Cobalt Copper Mining in DRC Zinc 

DRC: in the first half of 2022, copper-cobalt production is estimated at 1,144,965.75 tonnes of copper, 61,774.64 tonnes of cobalt and 6,374.73 tonnes of zinc

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The Technical Unit for Coordination and Mining Planning (CTCPM), has published the statistical data of the copper-cobalt sector for the first half of 2022. This sector includes Copper, Cobalt, Zinc and Lead which come exclusively from Haut-Katanga and Lualaba.  CTCPM data indicates that during the period under review, production sold, including exports and local sales to other entities for processing before export amounted to: – 1,144,965.75 tons of copper against 873,938.13 tons for the 1st half of 2021, an increase of 271,027.62 tons equivalent to 31.01%; – 61,774.64 tons of… Read More Here

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