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Gécamines produced 12,570 tonnes of copper at the end of July 2020. 1 Mining in DRC Copper 

Gécamines produced 12,570 tonnes of copper at the end of July 2020.

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Gécamines produced 12,570 tonnes of copper at the end of July 2020 against 11,385 tonnes at the same period in 2019, an increase of 10.40%, says the Summary of statistical information of the Central Bank of Congo. As Compared to the production volume of the entire mining industry estimated at 905,851 tonnes of copper, the production of Gécamnies, a State Portfolio company, represents 1.38% of the total production of the mining industry in the Democratic Republic of the Congo. For the whole of 2019, Gécamines produced  21,166 tonnes of copper against… Read More Here
Copper prices could reach 7,500 USD per tonne (Analysts) 2 Copper International 

Copper prices could reach 7,500 USD per tonne (Analysts)

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This week, copper traded up to USD 6,800 per tonne on the international market.  Several analysts are betting that the red metal could easily peak at $ 7,500 or even more if the supply continues to tighten. Several traders and analysts have noted that the shrinking spot reserves could trigger another price spike, building on a rally that took copper this week to two-year highs above $ 6,800 per tonne, miningnewspro reports .com. according to red kite capital management fund manager George Daniel. the market is starting to look like… Read More Here
Miners raise the problem of VAT refund to Félix Tshisekedi- DRC 3 Mining in DRC Mining tax 

Miners raise the problem of VAT refund to Félix Tshisekedi- DRC

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The demands of a number of issues that hamper the proper functioning of the mining industry in the Democratic Republic of the Congo were reviewed during a working session which brought together around the President of the Republic, Félix-Antoine Tshisekedi Tshilombo, the Prime Minister, Sylvestre Ilunga Ilukamba, mining operators, some members of the government and the governor of the Central Bank of Congo. The Minister of Mines, Willy Kitobo told the press at the end of the meeting, that it was essentially a question of discussing subjects that upset the… Read More Here
Jolino Makelele challenged to present a better project than the “Chinese Contract” by Moise Ekanga 4 Mining in DRC 

Jolino Makelele challenged to present a better project than the “Chinese Contract” by Moise Ekanga

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The Minister of Communication and Media, Jolino Makele announced during his press conference on August 27 at the AN 1 of the Ilunkamba government, that the agreement that was signed on April 22, 2008 between the DRC and the Chinese enterprise group (GEC) relating to the development of a mining project and an infrastructure project of a “great contractual disaster” that the country had known was necessary to “put back on the table) for new negotiations. Faced with this declaration, the Sino-Congolese Program Coordination and Monitoring Office (BCPSC), always headed… Read More Here
Small-scale miners back ZCCM-IH quest for greater stake in Mopani 5 Mining in Zambia 

Small-scale miners back ZCCM-IH quest for greater stake in Mopani

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THE Small-Scale Miner’s Association of Zambia (SSMAZ) has added its voice to the chorus of calls urging the ZCCM-IH to go ahead and acquire a greater stake in the Glencore-owned Mopani Copper Mines.The SSMAZ says doing so would be good for stability in the industry and greater returns into the national Treasury.Supporting calls by the Mineworkers Union of Zambia (MUZ), National Union for Miners and Allied Workers (NUMAW) for government to have a greater financial stake in the mining industry, the SSMAZ said the move would protect local jobs and… Read More Here
Mopani Copper Mines Mining in Zambia Copper 

Glencore Puts Entire Stake in Mopani on the table, as it Plans its Exit

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Glencore will likely sell its entire 73.1% stake in Zambia’s Mopani Copper Mines to the government’s mining investment arm ZCCM-IH rather than becoming a minority stakeholder, two sources with direct knowledge said. Zambia and Swiss-based Glencore are at “cross purposes” over Mopani, Zambian Mines Minister Richard Musukwa announced that ZCCM-IH aims to increase its shareholding in Mopani to 51% “or even more”, from 10% currently. Glencore’s plans to put Mopani on care and maintenance prompted the Zambian government to threaten in April to revoke the firm’s mining licences. Two sources with direct knowledge of the… Read More Here
Unpacking the revised and Interpreted DRC Mining Code 6 Mining in DRC 

Unpacking the revised and Interpreted DRC Mining Code

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In July 2020, the DRC mining registry published an interpreted version of the 2002 Mining Code as amended in 2018 (the Revised Code). The announcement of this publication had raised the hope that certain points of the reform would be clarified, given the tensions it had created between the mining industry and the government. However, on the key points of the revision (stabilisation, repatriation of export proceeds and local ownership), the annotations have not provided satisfying answers. In our opinion, despite their lack of particular legal significance, these annotations may… Read More Here
OIl Oil & Gas International 

Oil market buckles under pressure as pandemic shows signs of second wave

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Six months after the coronavirus pandemic’s initial punch, signs of a second wave are already emerging in the oil market. China’s buying has slowed after the nation binged when crude was cheap. Some of the largest producers in the Middle East are slashing prices for their barrels, signaling a lack of confidence in the recovery. In the U.S., the world’s most visible market, inventories remain stubbornly high. Global benchmark Brent crude on Tuesday dropped below $40 a barrel for the first time since June. While nobody is predicting a return… Read More Here
Power cuts weigh on miners’ investment decisions in South Africa 7 Energy Electricity 

Power cuts weigh on miners’ investment decisions in South Africa

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Increasing disruptions to power supply from South Africa’s struggling utility Eskom could hit mining companies plans to invest, two top industry executives warned on Wednesday. “I think the impact of Eskom is far more pronounced than the impact of COVID, although COVID is getting all the attention,” Nico Muller, Chief Executive of Impala Platinum (Implats) said during a platinum group metals (PGM) conference He said power supply from Eskom would have a “material bearing” on future decisions on growth. Eskom, which generates the majority of South Africa’s power, has for years struggled… Read More Here
Ivanhoe Mines Mining in DRC Copper International 

Ivanhoe’s Kakula could be the world’s second largest copper mine

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Canada’s Ivanhoe Mines  published the results of an independent definitive feasibility study (DFS) for its Kakula project in the Democratic Republic of Congo, which confirms the asset could become the world’s second largest copper mining complex. Kakula, the first underground mine planned at the Kamoa-Kakula concession, is forecast to generate 6 million tonnes of ore a year at an average feed grade of 6.6% copper over the first five years of operation, the study shows. Ivanhoe said the document is an independent verification by nine of the world’s top engineering firms… Read More Here

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