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Weak lithium prices could slow EV revolution – Albemarle

January 14, 2021January 14, 2021 admin

Global supplies of lithium used to make electric vehicle (EV) batteries will fall short of projections for demand to more than triple by 2025 if prices do not rebound to fund expansions, an executive at industry leader Albemarle Corp said on Tuesday The warning laid bare the tension emerging in the EV industry between the companies that supply the lithium crucial for battery development and automakers who are hunting for discounts. Prices for lithium dropped last year due in part to the coronavirus pandemic, forcing Albemarle and peers to pause expansions,… Read More Here

Taxes Mining in Zambia

Indebted Zambia pays $400m in VAT refunds to mining firms

January 14, 2021 admin

Zambia paid 8.5 billion kwacha ($400 million) in value-added tax refunds to mining companies last year, the head of the tax authority said on Wednesday, equal to about 3.5% of the external debt that the southern African country is struggling to repay. Zambia, Africa’s second-largest copper producer, is negotiating with creditors to try to get debt relief, after it defaulted on a $42.5 million coupon in November. The economy was already struggling even before the coronavirus pandemic owing to low prices for copper, its main export, and the IMF had classified it… Read More Here

Equipment & Technology

Africa’s drone industry is taking off

January 13, 2021January 13, 2021 admin

For a long time, drones were almost exclusively used by countries in matters of public safety. However, they are now being bought by and used for a diverse range of reasons across the African continent. In French-speaking Africa, the governments of Morocco, Algeria, Côte d’Ivoire, Senegal and Madagascar have decided to prohibit the use of these flying machines by the general public and reserve them for their own security services and administrations. Used in agriculture, essential for infrastructure maintenance and capable of saving lives, civilian drones are still far from being accessible… Read More Here

Mining in DRC Cobalt

Northeastern Ontario refinery could accept Congo cobalt by late 2022

January 13, 2021January 13, 2021 admin

First Cobalt strikes cobalt feed deal with Glencore, plant construction scheduled for mid-year. The owners of a renovated cobalt refinery in northeastern Ontario have signed a supply agreement with Glencore to receive unprocessed cobalt from the Democratic Republic of Congo (DRC) by late 2022. Toronto’s First Cobalt announced it has signed a five-year supply contract with Glencore AG to ship material from Kamoto Copper Company, its subsidiary in the DRC, starting in the fourth quarter of 2022. Glencore has helped finance First Cobalt’s plant-reopening plans. A second supply agreement is in the works after… Read More Here

Events & Expos

H.E. Mokgweetsi Masisi, President of Botswana confirmed for Mining Indaba Virtual

January 13, 2021January 13, 2021 admin

Investing in African Mining Indaba (Mining Indaba) (www.MiningIndaba.com), part of Hyve Group Plc is honoured to announce that His Excellency, Mokgweetsi Masisi, President of Botswana has confirmed to deliver his presidential keynote address at the upcoming Mining Indaba Virtual. The organisers are delighted to confirm that H.E. Mokgweetsi Masisi, President of Botswana will be joining the already confirmed H.E. Cyril Ramaphosa, president of South Africa, H.E. Félix Tshisekedi, president of the Democratic Republic of Congo (DRC) and H.E. Julius Maada Bio, president of Sierra Leone, at Mining Indaba Virtual which will… Read More Here

Mining in DRC Events & Expos Gold

Webinar 26 Jan: Exploring gold potential in the DRC

January 13, 2021January 13, 2021 admin

Live broadcast date: 26 January 2021 06h00 Toronto | 11h00 GMT | 11h00 London | 12h00 WAT | 13h00 Johannesburg | 19h00 Perth REGISTER HERE The north-east corner of the Democratic Republic of Congo (DRC) is home to one of Africa’s richest goldfields, including Barrick Corporation’s Kibali gold mine – the largest gold mine in Africa. However, in recent years’ gold mining activities have contributed little to the overall prosperity of the nation due to the ongoing conflict and violence in the area, the scale of the mining activities –… Read More Here

Mining in DRC Tin

DRC: Alphamin Resources achieves record production of 2,898 tonnes of tin in Q4 2020

January 13, 2021January 13, 2021 admin

The mining company Alphamin, located in Mpama Nord in the province of North Kivu, achieved a record production of 2,898 tonnes of tin in the fourth quarter of 2020, indicates a press release relayed by Mining News Pro. This represents a 13% improvement from the previous quarter and exceeds the company’s market forecast of 2,600 to 2,800 tonnes. According to Alphamin, this performance is due to better than expected tin feed qualities and plant recoveries. The processing plant recorded an average recovery of 74% for the quarter, including a record 77% recovery… Read More Here

Cobalt International Mining in DRC

First Cobalt signs supply deal with Glencore, eyes China Moly contract

January 13, 2021January 13, 2021 admin

First Cobalt Corp said on Tuesday it signed a deal with Glencore and has agreed a tentative pact with a unit of China Molybdenum Ltd for cobalt supplies from the Democratic Republic of the Congo. The agreements come after First Cobalt last month secured C$10 million in government loans and grants to accelerate startup and expansion of North America’s first cobalt refinery in the Canadian province of Ontario. The DRC is the world’s top producer of cobalt, a crucial ingredient for the lithium-ion batteries that underpin the fast-growing electric vehicle sector. Toronto-based… Read More Here

Gold International

Gold price rally of 2020 crushes analyst forecasts

January 12, 2021January 12, 2021 admin

Gold had a monumental 2020 as bullion soared to multiple record highs throughout the year amid the economic uncertainties brought by the covid-19 pandemic, which helped to cap off its best annual performance in a decade. During the past calendar year, gold prices traded at an average of $1,769.59/oz, well exceeding what most analysts were forecasting in mid-January. According to the London Bullion Market Association’s (LBMA) annual precious metals forecast competition, analysts were forecasting the gold price to be $1,558.8/oz on average, an increase of 12% from the average price in… Read More Here

Gold International

Equinox tops guidance in year of ‘tremendous growth’

January 12, 2021January 12, 2021 admin

Growing miner Equinox Gold beat its revised 2020 production guidance and churned out 477,200 gold ounces last year. With 136,400 oz. generated in the fourth quarter, the company exceeded its prior forecast of 425,000 to 465,000 oz. for the year. The 2020 production numbers include gold poured during the ramp-up and commissioning of the Castle Mountain open pit mine in California, which reached commercial production on Nov. 23. All-in sustaining costs are expected to fall within the guidance range of $975 to $1,025 per oz. “Equinox Gold had another year… Read More Here