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Gold price slides to 10-month low, may fall further

March 9, 2021March 9, 2021 admin

Gold prices continued to slide on Monday as the dollar and US treasury yields kept marching higher and prompted investors to dump the non-yielding metal. Spot gold dropped another 1.2% to $1,679.67 per ounce by 11:40 a.m. EST, its lowest since early June. US gold futures too fell by 1.2%, down to $1,677.40 per ounce. Meanwhile, the greenback climbed to a three-month peak, while the US 10-year Treasury yield held close to a more than one-year high, increasing the opportunity cost of holding gold, which pays no interest. “We have an… Read More Here

Copper International

Copper price up as Chinese imports surge

March 9, 2021March 9, 2021 admin

Copper price was up again on Monday as customs data showed China’s imports rose 4.7% for the first two months of 2021 from a year earlier, indicating stronger demand for the metal. May contracts rose 0.02% to $4.098 per pound ($9,015.6 per tonne) by midday in New York. Arrivals of unwrought copper and products into China were 884,010 tonnes in January and February combined, up from 844,723 tonnes a year earlier, the General Administration of Customs said. CHILE COPPER EXPORT REVENUE SURGED 65% IN FEBRUARY Activity in China’s manufacturing sector, a key… Read More Here

Mining in DRC International

President Biden Forces Israeli Mining Magnate Dan Gertler Back Into Magnitsky Act Straight jacket

March 9, 2021March 9, 2021 admin

The Joe Biden administration has reinstated Magnitsky sanctions on Israeli businessman Dan Gertler for ‘extensive public corruption’ in the Democratic Republic of Congo (DRC), overturning a secretive and irregular action carried out during the death throes of the Donald Trump administration. Dan Gertler was issued a licence five days before Donald Trump left office that gave him access to his money frozen in US banks and allowed him to do business with financial institutions throughout the world. Unless he has been able to use this window to move his assets out of… Read More Here

Mining in DRC

FILIMBI and LUCHA ask Sama Lukonde to undertake the process of recovering the Royalties of Gécamines in METALKOL and KCC- DRC

March 9, 2021March 9, 2021 admin

The citizens’ movements LUCHA and FILIMBI ask the Prime Minister, Jean-Michel Sama Lukonde Kyenge, to undertake the process of recovering the Royalties of Gécamines in the METALKOL and KCC project, from the start. investiture of his government in view of the opacity that had surrounded these transactions. “The royalties of GECAMINES in METALKOL represent 2.5% of net revenue, and the finance law requires that Gécamines must transfer 50% of the royalties to the public treasury. It therefore becomes important to know how Gécamines ceded the part that goes to the public… Read More Here

Mining in DRC Energy

3 NGOs in DRC welcome the establishment of an hydroelectric power station in the heart of Virunga park

March 9, 2021March 9, 2021 admin

The three member organizations of the coalition “ALL FOR THE DRC” and active in the governance of natural resources and the protection of the environment, congratulate, in a press release published on March 7, “SAVE VIRUNGA” based in North Kivu in the historic Virunga National Park, a UNESCO World Heritage Site, for having made the energy project of the American Howard Buffet, son of the American billionaire Warren Buffet, by building a hydroelectric power station in the middle of the park with the support of NGOs to fill the energy… Read More Here

Mining Careers Mining in Zambia

OPERATOR, RD (150 tn)| MINING CAREER AT FQM, KALUMBILA, SOLWEZI, ZAMBIA

March 8, 2021March 8, 2021 admin

Requisition Number: JR2510| Country: Zambia | Contract Type: On-going| Location: Solwezi | Categories:Mining Apply now Purpose of the role: To safely operate equipment on which he/she is trained on and permitted. Key Responsibilities: The specific tasks to be performed by the position holder will include: Operate machine safely and competently Follow operating manuals and general pit and safety signage Report all defects on the machine and care for the machine Avoid spillage on the mine roads Avoid running on spillages to avoid tyre damage Ensure the check-list is completed and submitted Ensure good house-keeping Follow correct instructions from… Read More Here

Mining Companies

Sibanye calls for mega-merger with AngloGold, Gold Fields

March 8, 2021March 8, 2021 admin

Sibanye Stillwater (JSE: SGL) (NYSE: SBGL) said on Monday that South Africa’s top gold miners should merge and create a rival to the world’s largest producers, Newmont (NYSE: NEM) and Barrick Gold (TSE: ABX) (NYSE: GOLD), or risk being acquired. Chief executive Neal Froneman said he believed that combining his company with Gold Fields (JSE, NYSE: GFI) and AngloGold (JSE: ANG) (NYSE: AU) would be in South Africa’s national interest, Johannesburg-based Business Day reported. Sibanye, formed by spinning off Gold Fields’ oldest South African mines in 2013, has been growing the business since. It first… Read More Here

Covid-19 Diamond

Namibia’s marine diamond miner’s production hit by covi-19, drops 13% in 2020

March 8, 2021March 8, 2021 admin

Debmarine Namibia, a subsidiary of Anglo American’s diamond unit De Beers, on Monday reported a 13% drop in production to 1.125 million carats last year as demand slumped during the COVID-19 pandemic. Namibia has the richest known marine diamond deposits in the world, and is among the top 10 producers of gem-quality diamonds globally. Production, however, has been severely hampered by weak demand on the international market. Debmarine’s revenue fell 5% to 6.6 billion Namibian dollars ($427 million), the company said. Royalties and tax to the government also slipped 6%,… Read More Here

Events & Expos

Mining Indaba’s Investment Battlefield returns

March 8, 2021March 8, 2021 admin

London: Investing in African Mining Indaba (Mining Indaba), organised by Hyve Group Plc is hosting one of their most popular features online this year. The Investment Battlefield, the platform famed for presenting Africa’s hottest junior mining companies battling against each other begins Tuesday 9th March 2021. Global investors and financiers are encouraged to tune in to review projects and financial overviews of some of Africa’s most promising mining projects. Providing a way for capital holders to uncover new projects and ideas that were not previously on their radars which takes place… Read More Here

Uncategorized

Teck’s art of intelligence in mining

March 7, 2021March 7, 2021 admin

Teck Resources Limited is one of the global miners innovating now to enable it to stay on top of its #future mining goals, exemplified by its RACE21™ program. In a December 2020 presentation entitled The Art of Intelligence in #Mining, part of the The University of British Columbia Centre for #Artificial Intelligence Decision-making and Action (#CAIDA) Emerging Technologies: BC’s AI Showcase conference, Teck’s Kalev Ruberg gave some insights into what that future might look like for Teck’s ops. He showed a future mine simulation that included a mix of machines & technologies that are already available along with some that are in… Read More Here