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World: Russian oil and gas exports amount to more than 97 billion USD since the start of military operations in Ukraine 1 International 

World: Russian oil and gas exports amount to more than 97 billion USD since the start of military operations in Ukraine

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Despite European Union sanctions against Russia, which are expected to affect almost three quarters (3/4) of Russian oil and gas exports, the world’s largest country continues to make its oil and gas cheap. Since the start of Russian military operations on Ukrainian territory, Russian oil and gas exports have reached an amount of more than 97 billion US dollars, according to the report of an Independent Research Center (CREA) published on Monday, August 8 2022 and which particularly pinpoints France. From February 24 to June 3, 2022, Russia exported exactly… Read More Here
Lower feed grades affect Kansanshi Mine 2 Copper Mining in Zambia 

Lower feed grades affect Kansanshi Mine

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First Quantum Minerals has recorded a 2,180 decrease in its copper production at its Kansanshi Mine in Solwezi for the second quarter of 2022. Kansanshi’s copper production was 39,719 tonnes, while the company’s copper production at its Sentinel mine in Kalumbila of 52,447 tonnes was on target. Combined production from the two mines was lower than the previous quarter. FQM’s Chief Executive Officer, Tristan Pascall has explained that the results at the company’s Kansanshi mine were affected by lower feed grades caused by current mining conditions, and that after an… Read More Here
Copper dips but interest rate hopes support 3 Copper International 

Copper dips but interest rate hopes support

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Copper prices eased on Monday but were supported by rising imports of the industrial metal by top consumer China and by hopes that interest rates will peak soon after rapid increases aimed at curbing inflation. Benchmark copper CMCU3 on the London Metal Exchange (LME) traded down 0.2% at $7 850 a tonne in official rings. Prices of the metal used as a gauge of economic health have climbed 13% since July 15, when they touched the lowest since November 2020 at $6 955. “The bounce in metal prices and more broadly other… Read More Here
Barrick Gold boss tells miners to brace for more inflation 4 International Mining Companies 

Barrick Gold boss tells miners to brace for more inflation

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Barrick Gold Corp. boss Mark Bristow is sticking with his cost guidance for now, despite inflationary headwinds at mines around the world, but said the idea that industry costs have peaked is “wishful thinking.” The world’s No. 2 gold producer on Monday reported second-quarter earnings that were slightly ahead of estimates, partly by keeping cost increases capped at 4.1% from the first quarter in a highly inflationary environment. In the same report, Barrick said costs would trend toward the high end, or even slightly exceed, its guidance range. Despite mitigation… Read More Here
Glencore profit more than doubles thanks to soaring coal price 5 Coal Mining Companies 

Glencore profit more than doubles thanks to soaring coal price

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Mining and commodities trader Glencore (LON: GLEN) posted on Thursday record profit of $18.9 billion in the first half of 2022, more than doubling last year’s figure thanks to its booming thermal coal business. Unlike rivals, including Anglo American, Rio Tinto and BHP, which bowed to investor pressure to exit fossil fuels, Glencore has continued mining coal, of which prices have reached record highs on the back of a global energy crunch unleashed by the war in Ukraine. The Swiss firm’s coal division generated earnings of $8.9 billion in the first six months of… Read More Here
Africa: On tour for security and mining issues? Anthony Blinken held to the duty to respect the choices of the DRC 6 Mining in DRC 

Africa: On tour for security and mining issues? Anthony Blinken held to the duty to respect the choices of the DRC

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Tribune- Unless unforeseen, US Secretary of State Anthony Blinken will be in Kinshasa on August 9 and 10, 2022. For the DRC stage, the official press release from the Department of State confirmed by the United States Embassy in Kinshasa places this stay within the framework successively “of the holding of free, inclusive and fair elections in 2023”, promotion and respect for “human rights and the protection of fundamental freedoms”, “the fight against corruption”, “support for trade and investment”, the issue of “climate change and support for “regional African efforts… Read More Here
DRC: most of the Congolese diamond comes from artisanal production, i.e. 71% in 2021 7 Diamond Mining in DRC 

DRC: most of the Congolese diamond comes from artisanal production, i.e. 71% in 2021

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In the middle of the 21st century, most of the diamonds produced in the Democratic Republic of Congo come from artisanal mining, attest to the statistics of the Ministry of Mines. In 2021, the Congolese artisanal sector produced 9,205,503.82 carats of diamonds compared to 3,762,129.29 for industrial exploitation and 5,702.55 for semi-industrial exploitation. Despite the relaunch of MIBA, whose production is still minimal, the largest amount of diamond production comes from artisanal mining with approximately 71% of the overall volume, followed by industrial mining for 29% and semi- industrial for… Read More Here
DRC: Diamond export generated USD 140 million in sales revenue in 2021 8 Mining in DRC Diamond 

DRC: Diamond export generated USD 140 million in sales revenue in 2021

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The Democratic Republic of Congo exported in 2021 a global volume of 12 million 685,779.42 carats of diamonds for a value of 140.259 million US dollars, according to statistics from the Ministry of Mines. Of this export volume in 2021, there were 10,028,407.54 carats of diamonds from the artisanal sector for a value of 88 million US dollars against 2,150,126.41 carats coming from the industrial sector for a value of 42.112 million US dollars. Read More Here
DRC: artisanal coltan production represents almost ten times more than industrial production, i.e. 1,291 tonnes against 148 tonnes in 2021 9 Coltan Mining in DRC 

DRC: artisanal coltan production represents almost ten times more than industrial production, i.e. 1,291 tonnes against 148 tonnes in 2021

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During the year 2021, the statistics of the Ministry of Mines recorded an industrial production of coltan estimated at 148.72 tons against 1,291.03 tons produced by the artisanal sector. The industrial production of coltan therefore represents barely 11% of the overall volume produced in the DRC in 2021, while that of the artisanal sector is estimated at 89%. And the large artisanal production of Congolese coltan comes from the province of North Kivu (1,106.42 tons) and South Kivu (182.29 tons). As for the industrial production of coltan, it is mainly… Read More Here
DRC: Gold exports brought in $1.268 billion in sales revenue in 2021 10 Mining in DRC Gold 

DRC: Gold exports brought in $1.268 billion in sales revenue in 2021

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The Democratic Republic of Congo exported in 2021 a volume of 31,444 kg of gold for a value of 1 billion 268.625 million USD, according to data from the Ministry of Mines. Of this volume of production, the gold from artisanal mining remains marginal and represents barely 135 Kg against 31,308 Kg from the industrial mining of the firm Kibali Gold Mines. It should be noted that the production of gold has continued to increase over the last 10 years thanks to the revival of the industrial sector, notwithstanding the… Read More Here

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