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Gold at three-week low as Fed officials reiterate hawkishness 1 Gold International 

Gold at three-week low as Fed officials reiterate hawkishness

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Gold traded at the lowest level in more than three weeks as Federal Reserve officials reiterated their commitment to tighter monetary settings to curb inflation. Bullion capped its first weekly decline in five as traders weighed hawkish comments by policy makers which portended higher interest rates. Fed Bank of Richmond President Thomas Barkin said Friday the central bank was resolved to returning inflation to its 2% target, even if that meant risking a US recession. All eyes will be on Chair Jerome Powell when he speaks this Friday at the annual gathering of central bankers at Jackson… Read More Here
DRC: 2,916 mining titles listed throughout the national territory in 2021 2 Mining in DRC 

DRC: 2,916 mining titles listed throughout the national territory in 2021

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The mining sector in the Democratic Republic of Congo (DRC) remained competitive, attractive and resilient during 2021 despite the economic devastation following restrictions due to the Covid-19 pandemic. The Technical Unit for Coordination and Mining Planning (CTCPM) identified, in 2021, a total of 2,916 mining titles throughout the national territory of the Democratic Republic of Congo. Published by this department of the Ministry of Mines, this document is a compilation of key information by province, namely: • Holders of mining and quarry rights by province; • Holders of the approvals… Read More Here
In the second quarter of 2022, TFM produced 62,952 tonnes of copper cathodes and 5,357 tonnes of cobalt metal- DRC 3 Cobalt Copper Mining in DRC 

In the second quarter of 2022, TFM produced 62,952 tonnes of copper cathodes and 5,357 tonnes of cobalt metal- DRC

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Tenke Fungurume Mining produced, during the second quarter of 2022, approximately 62,952 tons of copper cathodes and 5,357 tons of cobalt metal. The mining company based in the Democratic Republic of Congo (DRC) has indeed paid a net amount of approximately 365.55 million US dollars (USD) in taxes and other related payments to the Treasury and other services. administrative authorities of the Democratic Republic of Congo (DRC) in the first half of 2022. During the same period, TFM also funded visible impact community projects amounting to US$15.56 million. Since the… Read More Here
Haut-Katanga, Lualaba, Kongo Central, Tanganyika and Maniema, the 5 provinces with more mining titles in 2021- DRC 4 Mining in DRC 

Haut-Katanga, Lualaba, Kongo Central, Tanganyika and Maniema, the 5 provinces with more mining titles in 2021- DRC

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The Technical Unit for Coordination and Mining Planning (CTCPM) listed, in its annual report for the 2021 financial year, a total of 2,916 mining titles throughout the national territory of the Democratic Republic of Congo (DRC). The same report indicates that the provinces of Haut-Katanga, Lualaba, Kongo Central, Tanganyika and Maniema are those with the most mining titles during the year period under analysis. Ranked first, the province of Haut-Katanga has a total of 699 listed mining titles, of which 422 listed mining titles are considered active. According to the same… Read More Here
DRC: SAEMAPE sensitizes mining operators on the process of granting technical advice 5 Artisanal mining Mining in DRC 

DRC: SAEMAPE sensitizes mining operators on the process of granting technical advice

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The Deputy Director General in charge of technical issues within the Assistance and Supervision Service for Artisanal Small-Scale Mining (SAEMAPE), Eliane Poto Poto, is staying in the provinces of Haut-Katanga and Lualaba where she speaks with miners on specific issues relating to artisanal mining. The presence of Eliane Poto Poto is part of the awareness campaign for the improvement of mining cooperatives. Its main mission is to harmonize the various mining cooperatives and evaluate the management of the provincial services of SAEMAPE in Haut-Katanga and Lualaba. A first in this part of… Read More Here
Barrick Lumwana launches Zambia business accelerator programme 6 Mining in Zambia 

Barrick Lumwana launches Zambia business accelerator programme

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Zambian miner Barrick Lumwana, in collaboration with the Accelerated Growth for Micro, Small and Medium-sized Enterprises in Zambia (AGS) programme and the Women’s Entrepreneurship Access Center (WEAC), has launched the 10X Business Accelerator Programme to build business capacity for local contractors in Barrick’s mining supply chain. The programme will be implemented by WEAC to build local contractor capacity and to support contractors in effecting their growth plans, diversifying their markets to become sustainable beyond the mine’s operations. Barrick’s 10X Business Accelerator Programme is further aimed at enabling the small and… Read More Here
Gold price heads for weekly drop as Fed officials reiterate rate hikes 7 Gold International 

Gold price heads for weekly drop as Fed officials reiterate rate hikes

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Gold is headed for the first weekly decline in five as traders weighed reiteration from Federal Reserve officials that they’re determined to hike interest rates to fight inflation. Policy makers offered divergent views on the size of the next interest-rate increase, but they agreed on the need to keep raising interest rates. St. Louis’s James Bullard urged another 75 basis-point move while Kansas City’s Esther George struck a more cautious tone. Richmond’s Thomas Barkin echoed that resolve on Friday, noting the risk those efforts could cause a recession. Bullion dropped… Read More Here
Copper price rises despite global economic pessimism 8 Copper International 

Copper price rises despite global economic pessimism

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The copper price rose on Friday but was set to end the week slightly lower as traders balanced hopes for solid demand in China with pessimism about the global economy. Copper for delivery in September rose 1.1% on the Comex market in New York, touching $3.67 per pound ($8,074 per tonne). Inflation data in Germany and Japan on Friday and statements from European and U.S. central bankers this week suggest that rapid, economically damaging interest rate rises will continue. Investors turned cautious, pushing down global equities and driving up the… Read More Here
Zimbabwe offers target-beating incentive for biggest gold miners 9 Gold 

Zimbabwe offers target-beating incentive for biggest gold miners

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Zimbabwe extended an incentive for the country’s biggest gold miners to produce above state-set output targets. Large producers that exceed their goals will receive 80% of the payment for the additional output in foreign currency, Deputy Mines Minister Polite Kambamura said in an interview. That compares with the existing 60-40 split between foreign and local currency payments for gold produced in the southern African country. “Overall, it’s a good policy,” said Isaac Kwesu, chief executive officer of the Chamber of Mines. “But for those that are already operating at full… Read More Here
DRC: tenders for oil and gas blocks, Budimbu reassures ICCN on respect for the environment 10 Oil & Gas Mining in DRC 

DRC: tenders for oil and gas blocks, Budimbu reassures ICCN on respect for the environment

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After the sale of the oil and gas resources of the Democratic Republic of Congo (DRC) estimated respectively at more than 22 billion barrels of oil and 66 billion normal cubic meters of gas located in Lake Kivu, the Congolese Minister of Hydrocarbons , Didier Budimbu, continues to reassure the various partners on the respect for the environment which should characterize these operations. To this end, Minister Didier Budimbu had a working session with the Director General of the Congolese Institute for the Conservation of Nature (ICCN), on Monday August… Read More Here

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