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Barrick Gold boss tells miners to brace for more inflation 1 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 2 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 3 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 4 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 5 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 6 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 7 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
Faced with the reduction in production at the Inga site, SNEL announces a cyclic service program- DRC 8 Mining in DRC Energy 

Faced with the reduction in production at the Inga site, SNEL announces a cyclic service program- DRC

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The National Electricity Company SNEL SA, has announced the establishment of a cyclic service program to cope with the reduction in the production of electricity from the Inga site. In a press release dated July 27, 2022, the Kinshasa Distribution Department indicates that this drop in production at the Inga site is due to the drop in the water level at the intake channel due to the severe low water level. experienced by the Congo River. “ To best serve customers with the energy available, a cyclic service program will apply… Read More Here
Emeralds for Zambia 9 Emeralds Mining in Zambia 

Emeralds for Zambia

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The global shutdowns following the outbreak of Covid-19 threw a spanner in the works for companies in virtually every industry. But, when a company’s only means of selling their products is getting 150 people into an auction room for five days, it spelled disaster. For international gemstone miner Gemfields – which owns 75% of Kagem Emerald Mine, located 33km south-southwest of Kitwe in Zambia’s Copperbelt Province – sales dropped to nearly zero. Now, with the gavel once again pounding in international auction rooms and revenues climbing, the standstill of the pandemic has… Read More Here
Zimbabwe will raise taxes on platinum, lithium to boost revenue 10 Lithium 

Zimbabwe will raise taxes on platinum, lithium to boost revenue

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Zimbabwe plans to increase royalty rates on platinum producers and introduce one for lithium miners from Jan. 1 as part of efforts to boost its coffers that have come under strain from weakening economic conditions. The rate for platinum miners will double to 5% and a new rate of the same amount will apply to lithium producers, Finance Minister Mthuli Ncube said in his mid-term budget review presented to lawmakers in the capital, Harare, on Thursday. “Mindful of the fact that the tax regime is the main instrument for sharing benefits from finite minerals… Read More Here

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