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Diamond Mining in DRC 

DRC: 12,923 carats of diamonds produced at the end of August 2022 

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The mining industry in the Democratic Republic of Congo (DRC) produced around 12,923 carats of diamonds in the first eight months of 2022. These statistical data are provided by the Central Bank of Congo (BCC) in its Summary of statistical information published in October 2022. According to this report, diamond production during this year is down compared to the year 2021 when production stood at 35,727 carats. Artisanal diamond production in the DRC continues to take over industrial production with a production volume of around 7,322 carats in August 2022… Read More Here
Gold Mining in DRC 

DRC: at the end of August 2022, mining industries produced 10,386 kg of raw gold

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The mining industries of the Democratic Republic of Congo (DRC) achieved a production of around 10,386 kilograms of raw gold at the end of August 2022. These statistics are revealed in the Condensed statistical information of the Central Bank of Congo (BCC) published this month of October 2022. This production of raw gold has decreased significantly, informs this report without mentioning the reasons underlying this drop in production. During the same period in 2021, the mining industries of the Democratic Republic of Congo (DRC) had achieved a production of raw… Read More Here
Copper Cobalt Mining in DRC 

In eight months, Gécamines produced 15,104 tonnes of cobalt and 2,217 tonnes of copper-DRC

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General of careers and mines (Gécamines) produced 15,104 tonnes of cobalt and 2.217 tonnes of copper during the first eight months of 2022. This is indicated by the official statistical data published by the Central Bank of Congo (BCC) in its Summary of statistical information for the month of October 2022. According to the Central Bank of Congo, Gécamines records an increase in production in 2022 compared to the same period in 2021 when annual cumulative production was around 1,568 tonnes for copper and 11,199 tonnes of cobalt. This document… Read More Here
Mining Companies Mining in DRC 

Mark Bristow: “Kibali’s investment in the DRC has grown from 2.5 to 4.2 billion USD in 11 years”

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Kibali’s investment in the Democratic Republic of Congo has reached 4.2 billion USD in eleven (11) years of mining. This was announced by the President and CEO of Barrick, Mark Bristow, on October 27, 2022, during a press conference organized in Kinshasa. Of these 4.2 billion USD, 2.20 billion USD were used for payments for companies and suppliers. The part of royalties and taxes required 1.16 billion USD while 193.3 million USD were allocated to infrastructure and support for community projects. A total of 840 million USD was directed to wages. This… Read More Here
Diamond 

Higher-grade ore boosts De Beers diamond output

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De Beers, the world’s top diamond producer by value, saw production of roughs climb 4% to 9.6 million carats in the third quarter of the year, compared to the same period of 2021. The Anglo American unit said the production increase was the results of treatment of higher-grade ore at its Orapa mine, in Botswana, and at its South Africa operations. Strong production growth in Namibia also contributed to the output. Production in Botswana rose 4% to 6.6 million carats, driven mostly by the treatment of higher-grade ore at Orapa. The growth was partly offset by… Read More Here
Equipment & Technology International Mining technology 

Caterpillar shares head for best post-earnings boom in decades

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In a market hungry for good news, global economic bellwether Caterpillar Inc.’s strong quarterly results and upbeat outlook were rewarded handsomely. Shares of the mining and construction equipment maker closed up 7.7% at $212.14 on Thursday, notching their biggest gain following an earnings report since April 2017. The rally added to an already great run for the stock, which is up 2.6% this year, compared to the S&P 500 Index’s 20% decline. The company’s third-quarter profit and revenue both topped analysts’ estimates, and it expects a strong adjusted operating profit… Read More Here
Copper Exploration Gold New Mining Projects 

Ivanhoe awarded new exploration rights next to Platreef project on South Africa’s Bushveld Complex

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Ivanhoe Mines has been granted three new highly prospective exploration rights covering total surface area of 80 square kilometres adjacent to the company’s Platreef project in Limpopo province, South Africa. Platreef is a palladium, rhodium, nickel, platinum, copper and gold development project that is 64% owned by Ivanhoe. A 26% interest is held by Ivanhoe’s broad-based, black economic empowerment (B-BBEE) partners, which include 20 local host communities with approximately 150,000 people, project employees and local entrepreneurs. A Japanese consortium owns the remaining 10% interest. The project hosts a thick, underground… Read More Here
Cobalt Mining in DRC 

More than 80,000 tons of cobalt produced in 8 months by the mining industry-DRC

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The Democratic Republic of the Congo produced 80,752 tons of cobalt between January and August 2022 compared to 59,876 tons of cobalt in the same period in 2021, according to the Condensed statistical information of the Central Bank of Congo for the month of October 2022. Having already achieved a monthly production of 10,000 tons of cobalt in the first 8 months of this year, the DRC mining industry is on track to cross the milestone of 100,000 tons of cobalt in 2022. Note that the Democratic Republic of the… Read More Here
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
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

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