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Gold rush in DRC’s South Kivu prompts Govt. to issue decree banning mining 1 Mining in DRC Gold 

Gold rush in DRC’s South Kivu prompts Govt. to issue decree banning mining

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AUTHORITIES in South Kivu province in the Democratic Republic of Congo (DRC) has banned mining after a gold rush drew thousands of artisanal miners, said Reuters citing the provincial mines minister on Thursday. Gold was discovered in Luhihi in February, said Reuters. It brought throngs of diggers putting pressure on the small village which is about 50km from the provincial capital, Bakavu, said South Kivu Mines Minister, Venant Burume Muhigirwa. Miners, traders, and members of Congo’s armed forces (FARDC) were required to leave the mine sites in and around Luhihi, said Reuters. All… Read More Here
Tesla gets involved in New Caledonia mine to secure nickel supply 2 Battery Metals Nickel 

Tesla gets involved in New Caledonia mine to secure nickel supply

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Electric cars maker Tesla (NASDAQ: TSLA) will become a technical adviser at the conflict-ridden New Caledonia nickel mine, as part of the company’s attempt to secure enough supply of the key battery metal, which CEO Elon Musk has singled out as the his biggest concern. Political leaders in the French Pacific territory agreed on Thursday to sell a majority stake in Vale’s nickel business to a consortium called Prony, which includes Swiss commodity trader Trafigura. The Brazilian miner, the world’s top nickel producer, had been on the hunt for a buyer for over a… Read More Here
Congolese villages stumble on a mountain of gold 3 Mining in DRC Gold 

Congolese villages stumble on a mountain of gold

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Something historical and amazing has happened in the Democratic Republic of Congo, in Africa… A whole mountain of gold has been accidentally been discovered by local Congolese villagers! This is not your normal gold mine. No. It is a real gold mountain on the surface of the earth. This is a first. It is historical. Si it’s a free for all situation presently…No permits, no heavy commercial licenses, no foreign conglomerates with sophisticated solutions.. The only investment and equipment required to extract gold from the “gold mountain” is, your hands….Yes.… Read More Here
Copper price crashes through $4.00, down 7% 4 Copper International 

Copper price crashes through $4.00, down 7%

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Comex copper plunged on Thursday as doubts creep in about the sustainability of a rally that took the bellwether metal to within throwing distance of an all-time high. May delivery futures contracts fell 7.1% to $3.8490 a pound ($8,486 a tonne) in early afternoon trade in New York in massive volumes of 4.5 billion pounds or more than $17 billion worth of copper traded.  The carnage spilled over onto equity markets with top copper producers hammered. For the week number two diversified miner Rio Tinto, Phoenix-based Freeport-McMoRan and Vancouver’s First… Read More Here
More than $4bn a year in high-risk gold flows from DRC, Uganda, Rwanda, CAR and others 5 Mining in DRC Gold Taxes 

More than $4bn a year in high-risk gold flows from DRC, Uganda, Rwanda, CAR and others

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The US and the EU must work with African governments to harmonize gold export taxes to reduce smuggling and promote conflict-free gold, says the investigative and policy group The Sentry. Uganda, Rwanda, the Democratic Republic of Congo (DRC), the Central African Republic (CAR) and Cameroon are the states that most urgently need to tackle the issue, says The Sentry’s report published in February. Uganda and Cameroon have substantially lower gold taxes than exist in the DRC or the CAR, which makes it much more profitable to smuggle gold to those countries, the report finds. The report estimates that $4 billion… Read More Here
Rio Tinto chairman to step down in 2022 6 Mining Personality 

Rio Tinto chairman to step down in 2022

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Rio Tinto chairman Simon Thompson has signalled he will step down from his role due to the destruction of the Juukan Gorge rock shelters in Western Australia. Thompson said he is accountable for what led to the destruction of Juukan Gorge, as the company looks to repair its trust with Traditional Owners. “I am proud of Rio Tinto’s achievements in 2020, including our outstanding response to the COVID-19 pandemic, a second successive fatality-free year, significant progress with our climate change strategy, and strong shareholder return,” he said. “However, these successes… Read More Here
DRC, as a keystone in AfCFTA, can link regional value chains 7 Mining in DRC Economy 

DRC, as a keystone in AfCFTA, can link regional value chains

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Trade and development experts have detailed the key role the Democratic Republic of Congo (DRC) can play in providing mineral resources for industrial and manufacturing value chains, supporting agricultural and agroprocessing value chains and serving as an epicentre for intra-African trade to drive development on the continent. During a webinar hosted by news and information company Mining Review Africa on March 2, Africa Continental Free Trade Area (AfCFTA) institutional support project coordinator for the African Union in Uganda Frank Mugyenyi, export support organisation Southern African Capital Equipment Export Council (Saceec) CEO Eric… Read More Here
Galileo enters into agreement to sell Star Zinc to Zambia-focused company 8 Copper Mining in Zambia Zinc 

Galileo enters into agreement to sell Star Zinc to Zambia-focused company

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Zinc, copper and rare earths explorer Galileo Resources has entered into a conditional agreement with Siege Mining regarding the ceding of ownership, operation and participation in the Star Zinc project. For its part, Galileo will cede its ownership of the project for a consideration of $750 000, while its participation will be ceded for $550 000, which includes the handing over of all exploration information which it has in relation to the project. Completion will occur once the Star Zinc project licence has been assigned to Siege. Further, Galileo will be paid… Read More Here
Angola seeks to boost diamond output, negotiating with major players 9 Diamond 

Angola seeks to boost diamond output, negotiating with major players

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Angola plans to boost diamond mining and open a new large mine in the east, aiming to produce 5.7 million carats there in 2023, or more than half of its total output last year, Mineral Resources and Petroleum minister Diamantino Azevedo said. In an interview with Reuters, he also said the state-owned diamond company Endiama had been “instructed to negotiate with the biggest companies in the mining world to invest in the diamond subsector” in other projects, without specifying. Asked if Angola was negotiating specifically with diamond majors De Beers Group and Rio Tinto… Read More Here
DRC: 85,855.6 tonnes of cobalt exported in 2020 by the mining industry 10 Cobalt Mining in DRC 

DRC: 85,855.6 tonnes of cobalt exported in 2020 by the mining industry

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Mining operators in the Democratic Republic of Congo exported 85,855.6 tonnes of cobalt at the end of 2020 against 77,964 tonnes in 2019, an annual production increase of 10.12% according to data from the Ministry of Mines. Since January 2021, the DRC has exported an average per week that varies between 4,500 and 7,400 tonnes of cobalt in the form of hydroxides, reports the same source. The price of cobalt fell from 32,000 USD / tonne in the first week of January 2021 to 52,000 USD / tonne on February… Read More Here

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