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iron ore price continue to rally high 1 International Iron Ore 

iron ore price continue to rally high

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Iron ore prices continued to rally on Monday as Chinese imports top one billion tonnes, port stocks fall and the country’s steelmakers – responsible for more than half the world’s crude output – ramp up production. According to Fastmarkets MB, benchmark 62% Fe fines imported into Northern China (CFR Qingdao) were changing hands for $146.93 a tonne on Friday, up 1.3% from Friday’s peg.  That was the highest level for the steelmaking raw material since March 2013 and brings gains for 2020 to just shy of 60%. CAPITAL ECONOMICS EXPECTS… Read More Here
Gold price rallies to two-week high 4 Gold International 

Gold price rallies to two-week high

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Gold prices rose to a two-week high on Monday as momentum gathered towards a new fiscal stimulus in the US. Meanwhile, the dollar remains subdued, further supporting bullion. Spot gold advanced 1.4% to $1,864.35/oz by 11:45 a.m. EST, after rising to its highest since November 23 at $1,868.26/oz earlier in the day. US gold futures rose 1.6% to $1,868.50/oz in New York. With pressure mounting to help people and businesses hit hard by the covid-19 pandemic, the US Congress is aiming to scrape together a relief package this week. A bipartisan… Read More Here
Glencore’s ‘net-zero emissions’ 2050 pathway includes use of BEVs 6 Mining technology International 

Glencore’s ‘net-zero emissions’ 2050 pathway includes use of BEVs

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Glencore has become the latest mining major to plot a path to reach “net-zero emissions”, with a plan that includes the use of battery-electric vehicles at one of its underground operations in Canada and renewable power at its South Africa ferroalloy sites. The company has committed to reducing its total emissions footprint – Scope 1, 2 and 3 – by 40% by 2035 compared with 2019 levels, with an ambition of achieving “net zero” on its total emissions footprint by 2050. It says it will achieve this by managing its… Read More Here
IGF, APLC and Gécamines to investigate the sale of Metalkol royalties to Dan Gertler - DRC 7 Mining in DRC Mining Companies 

IGF, APLC and Gécamines to investigate the sale of Metalkol royalties to Dan Gertler – DRC

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The campaign “Congo is not for sale” (CNPAV) has, during a press conference held this Monday, December 07 in Kinshasa, urged the General Inspectorate of Finance and Gécamines to carry out a rigorous audit of the sale. royalties from Metalkol to Israeli businessman Dan Gertler. In a video released on November 16, Israeli billionaire Dan Gertler announced that he now intended to bring the country’s wealth to the Congolese. Without giving details, he intends to “share” the royalties from Metalkol’s copper-cobalt company, revenues initially intended for Gécamines and the public treasury. … Read More Here
Zambia copper miners bank on electric vehicles 8 Copper Mining in Zambia 

Zambia copper miners bank on electric vehicles

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Zambia projects to mine more than one million tonnes of copper in 2021 on the back of rising prices and a general shift towards electric motor vehicles in Asia, Europe and North America, Mines Minister Richard Musukwa has said. Zambia – Africa’s second biggest copper producer after DRC – had at the close of September this year mined over 640,000 tonnes of copper from a projected 880,000 tonnes for the year. Minister Musukwa this week told The Southern Times Business that, “Given the assurances of a stable mining regime in the 2021… Read More Here
XCMG delivers its largest dozer to Mongolia 9 Equipment & Technology 

XCMG delivers its largest dozer to Mongolia

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Chinese heavy equipment maker XCMG has delivered a DL560 wheel bulldozer to a mining customer in Mongolia. The DL560 is the company’s largest wheel loader, and the delivery marks full access for Mongolia’s mining industry to XCMG’s entire product line of high-tonnage loaders and wheel dozers. The DL560 model is designed to be the first choice for operators of ports and large mines, XCMG said. Chairman Wang Min said in a statement: “Our products … have been widely used in the country. XCMG has the highest market share in Mongolia among… Read More Here
Metalex to acquire diamond project in South Africa 10 Diamond 

Metalex to acquire diamond project in South Africa

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TSXV-listed Metalex Ventures has agreed to acquire a promising diamond exploration project in South Africa’s Northern Cape. Metalex has reached an agreement to acquire an interest in the 3 373 ha Viljoenshof prospecting license from Invest in Property 126 (IIP). The license area, within 30 km of the famous Kimberley Diamond Mines, is last known to have been explored by De Beers in the 1960’s, with two kimberlite pipes, two kimberlite dykes and two kimberlites of unknown type discovered. De Beers unsuccessfully applied for the exploration license over this area again in… Read More Here
Zambia hopes to “strike a win-win situation”, says mines minister 11 Copper Mining in Zambia 

Zambia hopes to “strike a win-win situation”, says mines minister

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Zambia hopes to “strike a win-win situation” with bondholders, Mines Minister RichardMusukwa said after Africa’s no.2 copper producer nation failed to pay the $42.5-million coupon on its Eurobond debt last Friday. Zambia doesn’t expect its mining assets to be taken away by bondholders and has no plans to sell its shares in mining companies despite defaulting on part of its debt last week, Musukwasaid on Thursday. Zambia’s mining assets have been in the spotlight as the country’s financial situation deteriorated this year and the pandemic prompted mining giant Glencore to… Read More Here
3 civil society coalitions in DRC call on government to clarify mechanisms on management and sharing of 25% and 15% of the mining royalty 12 Mining in DRC 

3 civil society coalitions in DRC call on government to clarify mechanisms on management and sharing of 25% and 15% of the mining royalty

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The “Congo is not for sale” campaign (CNPAV), the MAKUTA YA MAENDELO coalition and the Civil Society Advocacy Coordination on Natural Resources call on the Congolese government to give top priority to the adoption of the clarifying rules. the mechanisms for managing and sharing 25% and 15% of the mining royalty, the management of the 0.3% 1 endowment as well as the signing and execution of specifications between mining companies so that communities benefit fully from the innovations of the revised mining code. Indeed, since mid-2018, the Mining Code has… Read More Here
Glencore commits to supply 150,000 tonnes of cobalt to Chinese GEM between 2020 and 2029 13 Cobalt Mining in DRC 

Glencore commits to supply 150,000 tonnes of cobalt to Chinese GEM between 2020 and 2029

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Diversified mining and marketing company Glencore has extended its partnership with GEM of China for the supply of cobalt hydroxide by five years. Under the terms of the deal, Glencore, led by CEO Ivan Glasenberg, will supply around 150,000 t of cobalt in the hydroxide for GEM between 2020 and 2029, reports Mining News Pro. Glencore and GEM mutually commit to annual audits against standards aligned with the OECD, in particular, the cobalt refiner supply chain due diligence standard developed by the Responsible Minerals Initiative, the Responsible Cobalt Initiative and the… Read More Here

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