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DRC mining industry produced 1.5 million tonnes of copper at the end of August 2022 1 Copper Mining in DRC 

DRC mining industry produced 1.5 million tonnes of copper at the end of August 2022

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The mining industry in the Democratic Republic of Congo produced 1 million 576924 tonnes of copper during the first 8 months of 2022 against 1 million 116232 tonnes in the same period in 2021, i.e. a production increase of 41%, inform Central Bank of Congo data taken from the October 2022 Digest of Statistical Information. Of this volume of production recorded by the mining industry, Gécamines, which is the public company, produced only 2,217 tonnes of copper. This does not even represent 1% of the total volume of copper produced in… Read More Here
First Quantum Minerals Reports Third Quarter 2022 Results 2 Mining in Zambia Copper Mining Companies 

First Quantum Minerals Reports Third Quarter 2022 Results

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First Quantum Minerals on Tuesday reported substantially lower third-quarter financial results, citing margin compression because of a declining copper price and cost inflation. The Canada-headquartered company’s adjusted earnings fell from $337-million in the second quarter, to $96-million in the third quarter, while copper C1 cash costs increased by $0.08/lb to $1.82/lb. “The headwinds from recessionary concerns and broad cost inflation have led to substantial margin compression across the industry. In the longer term, we continue to see structural upside in our markets from the ongoing challenges of bringing on new… Read More Here
GoviEx moves closer to being a uranium producer by 2025 3 International Mining in Zambia Uranium 

GoviEx moves closer to being a uranium producer by 2025

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GoviEx Uranium has closed its previously announced bought deal private placement financing which includes a partial exercise of the over-allotment option, at a price of C$0.22 per Unit for aggregate gross proceeds of C$10,166,860. Each unit consists of one Class A common share of the company and one-half of one Common Share purchase warrant. Each Warrant entitles the holder thereof to purchase one common share at US$0.24 until October 25, 2025. The company expects to close an additional tranche of units on the same terms as the Private Placement in… Read More Here
Copper price jumps as dollar eases 4 Copper International 

Copper price jumps as dollar eases

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Copper prices rose on Wednesday buoyed by a weaker dollar amid hopes the pace of US interest rate hikes would slow down. The dollar wallowed near a three-week low versus major peers as more signs of economic weakness in the United States fanned speculation about a less hawkish Federal Reserve. Copper for delivery in December rose 3.8% on the Comex market in New York, touching $3.52 per pound ($7,744 per tonne). The most-traded November copper contract on the Shanghai Futures Exchange was up 0.1% to 63,050 yuan ($8,650.02) a tonne. “The… Read More Here
Gold price rebounds to 2-week high on Fed relief hopes 5 Gold International 

Gold price rebounds to 2-week high on Fed relief hopes

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Gold prices rose to a two-week high on Wednesday as the US dollar and Treasury yields slipped on expectations that the Federal Reserve would temper its aggressive rate-hike stance from December. Spot gold rose 1% to $1,668.92 per ounce by 10:50 a.m. ET after touching its highest since October 13. US gold futures were up 0.8% to $1,669.90 per ounce in New York. Meanwhile, the dollar extended losses to a more than one-month low against its rivals, making gold less expensive for other currency holders. Benchmark US 10-year Treasury yields… Read More Here
Consider industrial mining investment outside of Greater Katanga! (Grandstand)-DRC 6 Mining in DRC Cobalt Copper Lithium 

Consider industrial mining investment outside of Greater Katanga! (Grandstand)-DRC

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The DRC is a geological scandal. There is gold, cobalt, copper, lithium, coltan, etc. These natural advantages are reflected in particular by the country’s positive growth rate, driven largely by the mining sector. However, on closer inspection, this potential seems to me to be under-exploited. Indeed, when I analyze the State of mining titles dated July 2021, it appears that out of the 388 active mining titles belonging to private entities, 245, or 63% are located in the provinces of Upper Katanga and Lualaba. The western provinces where there are however traces of minerals… Read More Here
All mining products exported from the DRC are down this week on the international market 7 Copper Cobalt Mining in DRC Zinc 

All mining products exported from the DRC are down this week on the international market

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The general trend of mining products exported from the Democratic Republic of Congo (DRC) is bearish this week over the period from October 24 to 29, 2022. This is reported by the National Commission on Price Lists of the Ministry of Foreign Trade. According to this report, cobalt, which had for several weeks maintained its price above 51,000 USD per ton, should drop slightly this week to 51,260 USD per ton against 51,261.50 USD per ton last week. i.e. a slight drop of around -1.5 USD. On the same market,… Read More Here
In the red this week, the price of a tonne of tin would be down by 492 USD 8 Mining in DRC Tin 

In the red this week, the price of a tonne of tin would be down by 492 USD

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Tin, one of the main mining products exported from the Democratic Republic of Congo (DRC), is expected to suffer a significant drop this week on the international market. This is what emerges from the communiqué of the experts of the Congolese Government of the National Commission of Mercuriales for the week from October 24 to 29, 2022. According to these experts, tin should fall to 20,094.00 USD per tonne this week against 20,586.00 USD per tonne last week, a negative gap of -492 USD. During this week, the general trend… Read More Here
Liebherr unveils R 9300 mining excavator at bauma 2022 9 Equipment & Technology International Mining technology 

Liebherr unveils R 9300 mining excavator at bauma 2022

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Liebherr Mining has announced the R 9300 Generation 8 hydraulic excavator at bauma 2022. Replacing the existing R 9250 excavator in the 250 t class market, the R 9300 encompasses the OEM’s most advanced design principles and technology platforms to further enhance machine performance, efficiency, and safety. The latest hydraulic excavator to join Liebherr Mining’s portfolio is unveiled at Bauma tradeshow in Germany. The second Generation 8 excavator launched within the portfolio, the R 9300, builds on Liebherr’s decades of excavator design expertise for the mining industry and is fitted with the… Read More Here
Anglo American class action lawsuit rages on 10 Mining in Zambia Natural gas 

Anglo American class action lawsuit rages on

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A class action lawsuit targeting mining giant Anglo American over alleged health problems caused by lead mines in central Zambia will hear who can participate in the case in November. The legal challenge filed in South Africa accuses the British-listed mining company of effectively poisoning villages in Kabwe, north of the capital Lusaka. “The way in which the mining operations were conducted in such close proximity to residents has resulted in huge levels of contamination of the soil,” says Richard Meeran, solicitor for Leigh Day in London, adding that this… Read More Here

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