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First Quantum keeps cost guidance unchanged despite inflationary pressures

July 27, 2022July 27, 2022 admin

Unlike many of its peers, Canada-based miner First Quantum has opted to keep its cost guidance for 2022 unchanged, despite inflationary pressures and lower output from its mines in Zambia. The company continues to guide cash costs of C$1.45/lb to C$1.60/lb for the full year, despite second-quarter cash costs exceeding the upper limit of the yearly guidance. During the June quarter, First Quantum reported a $0.13/lb quarter-on-quarter increase in C1 cash costs to $1.74/lb, as inflation drove up the prices for consumables, including explosives, fuel and steel, and freight charges climbed. C1… Read More Here

Equipment & Technology International Mining technology

World-first hydrogen haul truck operational from August – Anglo Platinum

July 27, 2022July 27, 2022 admin

The pilot world-first hydrogen haul truck launched early in the year, has had some final changes made to it before it heads into the pit and goes into operational mode from August. Meanwhile, the second prototype is already underway, where learnings from the first truck are being taken into the development of the second prototype. “It’s important to recognise that as we were driving to get the first prototype out to market as soon as possible, we used existing components and retrofitted them into an existing truck. “The next prototype… Read More Here

Mining in DRC Oil & Gas

DRC: tenders for 27 oil and 3 gas blocks,made available to investors

July 27, 2022July 27, 2022 admin

The Democratic Republic of Congo (DRC) is one of the countries with considerable oil and gas potential that is still under-exploited. Its crude oil resources are estimated at more than 22 billion barrels of oil and 66 billion standard cubic meters of gas located in Lake Kivu. These statistics were revealed by Didier Budimbu, Congolese Minister of Hydrocarbons, during a press conference organized this Tuesday, July 26, 2022, in anticipation of the official launch of the first phase of calls for tenders relating to the allocation to investors in 27 oil… Read More Here

Mining in DRC Gold

DRC Mining industry produced 7,797 Kg of raw gold in the first quarter of 2022

July 27, 2022July 27, 2022 admin

The mining industry in the Democratic Republic of Congo (DRC) produced 7,797 kg of raw gold in the first quarter of 2022. This is what the Central Bank of Congo (BCC) informs in its summary of statistical information published in June 2022. According to these data from the highest financial institution in the Democratic Republic of Congo, gold production is up slightly from its level during the same period in 2021 when it stood at 7,472 Kg Gold, representing a slight increase of around 325 kg of raw gold. The… Read More Here

Copper Gold Mining in Zambia

FQM’s renewed dedication to Zambia attributed to the new regime

July 26, 2022July 26, 2022 admin

First Quantum Minerals (FQM), a large mining company with a TSX listing, plans to make significant investments in the expansion of its Kansanshi copper and gold mine. This shows not only the persistent demand for these two metals from international markets, but also the company’s dedication to a nation that recently welcomed a new political leadership that aims to raise Zambia’s status as a mining investment destination going forward. According to Dr. GODWIN BEENE, an expert in FQM government relations affairs, LAURA CORNISH. Zambia’s mining tax regime, amended in 2019, has seen investment from the sector dwindle and total copper production output stagnate ever since. But the introduction of new president Hakainde Hichilema (appointed into office in September 2021) could change this as he has reopened the door to working with local mining companies to establish a more investment-friendly tax regime. This could be one of the key deciding factors that will enable the FQM board to give the green light on a major expansion project at its Kansanshi operations.… Read More Here

Equipment & Technology International Mining technology

Sandvik to deliver ‘biggest BEV fleet to date’ for Foran’s McIlvenna Bay

July 26, 2022July 26, 2022 admin

Foran Mining has selected Sandvik Mining and Rock Solutions to supply a fleet of 20 battery-electric vehicles (BEVs), including trucks, loaders and drills, for its McIlvenna Bay project in Saskatchewan, Canada. Set to be one of the world’s first carbon-neutral copper development projects, McIlvenna Bay will be powered by clean hydroelectric power and designed to take advantage of Sandvik’s latest technological advances in sustainable mining, the OEM says. Sandvik’s biggest BEV fleet to date will include seven Sandvik 18-t-payload LH518B loaders (pictured dumping into a TH550B), six Sandvik 50-t-payload TH550B… Read More Here

Copper International

Copper rises on supply risks and softening dollar

July 26, 2022July 26, 2022 admin

Copper prices rose on Tuesday, as supply risks flagged by major producers offset demand concerns, while a softening dollar made the metal cheaper for holders of other currencies. Three-month copper on the London Metal Exchange rose 2.2% to $7 640/t by 07:09 GMT, while the most-traded September copper contract on the Shanghai Futures Exchange closed 3% higher at 58 890 yuan ($8 718.24) a tonne. The dollar slipped for a fourth straight session as traders waited on a rate hike decision from the US Federal Reserve and for any clues about whether hints of a slowing economy will prompt a… Read More Here

Cobalt Copper Gold Mining in DRC Tin Zinc

DRC: gold, copper, cobalt, tin and zinc record a price drop this week on the international market

July 26, 2022July 26, 2022 admin

The general trend in the prices of the main mining export products of the Democratic Republic of Congo (DRC) should be downward this week from July 25 to 30, 2022. According to the projections of the National Mercurial Commission of the Ministry of Foreign Trade, only tantalum is expected to remain stable this week in the market to trade at USD 410.00 per kilogram. Elsewhere, copper, cobalt, tin, zinc, gold and silver are all expected to fall during this week. Indications from the Ministry of Foreign Trade indicate that copper… Read More Here

Copper Mining in DRC

The DRC mining industry produced 572,983 tonnes of copper from January to March 2022

July 26, 2022July 26, 2022 admin

The mining industry in the Democratic Republic of the Congo produced 572,983 tonnes of copper between January and March 2022 compared to 379,755 tonnes of copper in the same period in 2021, an increase in production of 193,228 tonnes, according to Bank data. central Congo in its compendium of statistical information. During the first three months of this year, Gécamines produced 805 tons of copper, less than 1% (or more exactly 0.14%) of the production volume of the Congolese mining industry. Recall that for the whole of 2021, the Democratic… Read More Here

Mining in DRC

New report exposes evils undermining responsible coltan mining in the DRC

July 26, 2022July 26, 2022 admin

In the DRC, a report released earlier this year by ENACT Africa, a European Union project to strengthen the fight against transnational organized crime in Africa, highlights some of the ills that hinder the responsible exploitation of coltan. Between State collusion with criminal networks, destruction of the historical heritage of local communities, exploitation of minors, rape and gender-based violence, around 4 billion dollars are lost each year by the State. The ENACT report is notably the result of discussions held in the field with members of the Congolese Ministry of Mines,… Read More Here