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Gold demand recovering, but impact of possible 'second wave' of Covid-19 uncertain 1 Gold 

Gold demand recovering, but impact of possible ‘second wave’ of Covid-19 uncertain

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Overall global gold demand decreased by 19% year-on-year to 892 t in the third quarter, owing largely to consumers still feeling the impact of the Covid-19 pandemic, says the World Gold Council (WGC) in its latest ‘Gold Demand Trends’ report. Published on October 29, the report indicates that this is the lowest quarterly total since the third quarter of 2009. The year-to-date demand of 2 972 t was 10% lower versus the same period in 2019. Speaking to Mining Weekly, WGC market intelligence manager Krishan Gopaul says there was a slight pick-up in demand… Read More Here
China’s new infrastructure plan to boost metal demand – report 2 Infrastructural Development 

China’s new infrastructure plan to boost metal demand – report

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China’s acceleration of its ‘new infrastructure’ plan will support the government’s beneficiation ambition in the metals industry, boosting production of high-end metals as opposed to primary metals, industry analyst Fitch Solutions finds in its latest report. Despite this being a long-held strategy as part of the Chinese government’s shift away from export-oriented growth and the pivot towards domestic consumption, the focus on high-tech infrastructure has been more concerted in 2020 following a slowdown in economic activity arising from the covid-19 pandemic as well as heightened tensions between the US and China, the… Read More Here
South Africa needs $11bn to help transition from coal to renewable energy 3 Coal Energy 

South Africa needs $11bn to help transition from coal to renewable energy

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South Africa needs a climate finance transaction of $11 billion to help the country transition from coal to renewable energy and to soften the blow for communities dependent on the mining and use of the fossil fuel, a University of Cape Town study said. South Africa, through state utility Eskom Holdings SOC Ltd., is almost entirely dependent on coal for electricity. The country produces the same quantity of greenhouse gases as the U.K., which has an economy eight times larger. “The study envisions a climate finance transaction of $11 billion… Read More Here
Barrick’s Mark Bristow on building a license to operate 4 Gold International 

Barrick’s Mark Bristow on building a license to operate

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In an interview at Ernst & Young’s virtual Americas Mining & Metals Forum, Barrick Gold (TSX: ABX; NYSE: GOLD) chief executive Mark Bristow spoke about the importance of building a strong license to operate, creating lasting relationships with governments and all stakeholders, and attracting generalist investors. Jeff Swinoga, co-leader of EY’s Canada Mining & Metals division, began the discussion by congratulating Bristow on Warren Buffett’s recent investment in Barrick Gold. Bristow responded that building a sustainably profitable business is key, and something he started at Randgold Resources in 1995, prior to that… Read More Here
China’s new international copper contract comes at the right time – Russell 5 Copper 

China’s new international copper contract comes at the right time – Russell

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Next month’s launch of an international copper contract in China comes at an opportune moment, as the world’s largest importer and consumer of the industrial metal shows once again just how much it dominates the market discourse. The futures contract will launch on the Shanghai International Energy Exchange (INE) on Nov. 19, the China Securities Regulatory Commission said on Friday. While a China copper contract is already traded on the Shanghai Futures Exchange (ShFE), the new derivative will be open to trade by foreigners and should offer a much easier… Read More Here
China Moly boosts Q3 cobalt output by 21% 6 Cobalt 

China Moly boosts Q3 cobalt output by 21%

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China Molybdenum Co lifted its July-September cobalt output by 21.2% from the previous quarter, data released on Wednesday showed, putting the company back on course to hit its full-year production target for the battery metal. China Moly, which operates the Tenke Fungurume mine in the Democratic Republic of Congo (DRC), one of the world’s biggest copper-cobalt deposits, said it produced 10,507 tonnes of cobalt metal in the first nine months of 2020, which was down 16.7% year-on-year, although sales were up 15% at 12,794 tonnes. The nine-month production number implies… Read More Here
DRC Minister of Industry launches lime production 7 Mining in DRC Limestone 

DRC Minister of Industry launches lime production

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The DRC Minister of Industry, Julien Paluku Kahongya, with his colleague from Mines, Willy Kitobo, had on Monday,October 26 in Likasi in the province of Haut-Katanga, launched the production of lime by the Grande Cimenterie Katanga (GCK) with a capacity of 300,000 tonnes per year. In his speech, Julien Paluku specified that the launch of this industry will allow the Republic to produce 300,000 tonnes of lime and 2,200,000 tonnes of cement per year. What to believe is part of the vision of the Head of State, Félix Tshisekedi, which… Read More Here
Barrick to spend $8million in Tanzania explorations 8 Gold Exploration 

Barrick to spend $8million in Tanzania explorations

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The Toronto-based mining company Barrick Gold, which operates three mines in the African country through Twiga Minerals, has announced that it will invest $8 million on exploration in Tanzania this year. The company also revealed that it has been granted 10 new exploration licenses in Tanzania, where it was until recently locked in a long-dragged out conflict over taxes and mine ownership for almost three years. Twiga Minerals was born last year after Barrick and Tanzania reached an agreement that made the gold giant pay $300 million to settle outstanding… Read More Here
SENOIR MAINTENANCE PLANNER | MINING CAREERS AT BARRICK LUMWANA MINE, KALUMBILA, ZAMBIA 9 Mining Careers Mining in Zambia 

SENOIR MAINTENANCE PLANNER | MINING CAREERS AT BARRICK LUMWANA MINE, KALUMBILA, ZAMBIA

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Senior Maintenance Planner (2) Categories: Engineering | Requisition Number: 090550 | Location: Lumwana Mine, Zambia Click to Apply Now Reporting to: Coordinator – Maintenance Planning and Reliability Lumwana Mining Company Limited (LMC), a copper mining company owned by Barrick Gold Corporation is situated in the North Western region of Zambia, some 300 km west of the Zambian Copperbelt and 95 km south west of the provincial capital of Solwezi. The mine is a multi-pit, multi staged operation mining approximately 100MT of ore and waste per annum and producing copper concentrates containing an average of… Read More Here
Climate Change & Energy at Kamoa- Kakula project - DRC 10 Mining in DRC Energy 

Climate Change & Energy at Kamoa- Kakula project – DRC

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Ivanhoe Mines accepts the assessment of the United Nations Framework Convention on Climate Change (UNFCCC) regarding climate change science, which findings include that temperatures are gradually rising globally due to human activities and that physical impacts are unavoidable. We believe humanity must pursue the twin objectives of limiting global temperature increase in line with current international agreements, while actively pursuing access to innovative, reliable and affordable energy to support economic development and improved living standards. Both of these objectives are essential to sustainable development. As indicated by current scientific global… Read More Here

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