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De Beers boosts 2022 guidance despite drop in output 1 International Diamond 

De Beers boosts 2022 guidance despite drop in output

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De Beers, the world’s top diamond producer by value, has boosted its full-year guidance to 32 million-34 million carats, from 30 million- 33 million carats thanks to what it calls “robust demand” from US customers. The Anglo American unit saw a slight decrease in production in the three months to June 30, churning out 7.9 million carats, down from the 8.2 million it produced during the same quarter last year. The miner has benefitted from sanctions imposed on its Russian rival Alrosa (MCX: ALRS), despite a slight production decrease in the second… Read More Here
Copper price rises as risk appetite returns 2 Copper International 

Copper price rises as risk appetite returns

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Copper prices were up on Friday as investors returned to riskier assets following a brutal sell-off. Copper rose 2.7% to $3.38 ($7,436) a tonne on the Comex market in New York. Industrial metals and global equities tumbled in recent months as inflation surged and central banks began rapid interest rate rises that could tip the world into recession.  But investors this week dialed back expectations for US rate rises. Global stocks are up for the sixth day and the dollar weakened from 20-year highs, helping dollar-priced metals by making them cheaper… Read More Here
Shanta records strong second-quarter performance 3 Gold 

Shanta records strong second-quarter performance

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Aim-listed Shanta Gold recorded a strong second quarter ended June 30, with initial crown pillar mining at the New Luika gold mine (NLGM), in Tanzania, having contributed to a 54% quarter-on-quarter increase in output to 17 527 oz. CEO Eric Zurrin highlighted in a production and operational update for the period, published on July 21, that production for the month of June, at 7 538 oz, had been the highest output level achieved by the company in more than 12 months. The company owns NLGM and the Singida project, in Tanzania, as well as the West Kenya project in Kenya. Construction at Singida was… Read More Here
Gold price sinks below $1,700 ahead of key central bank meetings 4 Gold International 

Gold price sinks below $1,700 ahead of key central bank meetings

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Gold prices sank below $1,700 on Wednesday afternoon as investors continued to shed holdings of gold-backed exchange-traded funds ahead of key central bank meetings over the next week, which may result in more aggressive interest rate hikes. Spot gold fell 0.9% to $1,696.71 per ounce by 5:10 p.m. ET, a new 11-month low, after holding steady earlier in the session. US gold futures shrank 1.0% to $1,694.30 per ounce in New York. Bullion has been hovering in a narrow trading range since late last week, with the US dollar index also… Read More Here
Caledonia Mining to buy one of Zimbabwe’s largest gold projects 5 Gold 

Caledonia Mining to buy one of Zimbabwe’s largest gold projects

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Caledonia Mining Corporation is set to be the new owner of one Zimbabwe’s biggest gold mining projects after agreeing to acquire Bilboes Gold Limited, owner of the namesake gold project, in a $53 million shares deal, plus a royalty on revenues. The transaction could more than double Caledonia’s annual production, potentially making it Zimbabwe’s top gold miner. It would also help the company become a multi-asset mid-tier producer. “We are delighted to have signed an agreement for the purchase of Bilboes, the premier gold development project in Zimbabwe, and indeed one of… Read More Here
Angola awards $333m to Trafigura consortium to improve Congo rail link 6 Copper Cobalt Mining in DRC 

Angola awards $333m to Trafigura consortium to improve Congo rail link

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Angola’s ministry of transport has awarded a tender to a Trafigura consortium to operate and expand rail infrastructure to speed up commodity imports from the Democratic Republic of Congo. Congo, Africa’s biggest copper producer, exports copper, cobalt, and other metals in trucks via Tanzania or South Africa, which takes several weeks because of congestion and customs delays. As part of a 30-year concession agreement, the consortium has agreed to invest $256 million in infrastructure, $73 million in rolling stock and $4.3 million in other activities, Angola’s transport ministry said, to… Read More Here
Epiroc records ‘best quarter ever for electrification’ 7 Equipment & Technology International Mining technology 

Epiroc records ‘best quarter ever for electrification’

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In a quarter of record revenues and adjusted operating margin, Epiroc’s battery-electric equipment orders and market demand for electrified mining solutions again came to the fore. The company posted revenues of SEK11.9 billion ($1.2 billion) in the June quarter, 22% up on the same three-month period of a year ago. Its adjusted operating margin came in at 23.6%, compared with 22.6% a year earlier. Epiroc’s aftermarket division continued to dominate the balance sheet, accounting for 73% of revenues, which itself was up on the 69% registered in the June quarter… Read More Here
Auction of Congolese oil & gas blocks: Patrick Muyaya reminds Greenpeace that DRC has rights to exploit its wealth 8 Mining in DRC Energy Oil & Gas 

Auction of Congolese oil & gas blocks: Patrick Muyaya reminds Greenpeace that DRC has rights to exploit its wealth

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The Minister of Communication, Patrick Muyaya insisted on the need for the Democratic Republic of Congo to exploit its oil and gas blocks in order to allow the country to benefit from the advantages of its wealth.  During the joint briefing with the Ministry of Tourism, held on Wednesday July 20, the government spokesperson responded to the denunciations of the international environmental protection NGO, Greenpeace. Patrick Muyaya reminded this NGO that there are current oil drilling techniques that are safe for the ecosystem.  “There are current drilling technologies that make it… Read More Here
Auction of oil and gas blocks in the DRC: Modero Nsimba refutes the denunciations of Greenpeace 9 Mining in DRC Energy Oil & Gas 

Auction of oil and gas blocks in the DRC: Modero Nsimba refutes the denunciations of Greenpeace

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The Minister of Tourism, Modero Nsimba responded to the international environmental protection NGO, Greenpeace, which invited, in its press release of Tuesday July 19, the oil and gas majors to refrain from buying rights to 27 oil blocks and 3 gas blocks auctioned by the authorities of the Democratic Republic of Congo in order to protect biodiversity. It was during the government briefing on endangered protected areas held on Wednesday 20 July. The Minister of Tourism denounced the attitude of the NGO Greenpeace which, according to him, is in the process… Read More Here
Epiroc to deliver advanced autonomous drilling solutions to SNIM in Mauritania 10 Equipment & Technology International Mining technology 

Epiroc to deliver advanced autonomous drilling solutions to SNIM in Mauritania

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Epiroc has won a large order for surface mining equipment from Société Nationale Industrielle et Minière, in Mauritania. Société Nationale Industrielle et Minière, known as SNIM, is one of Africa’s largest iron ore producers. The mining company has ordered a package of Epiroc Pit Viper 351 drill rigs with advanced automation solutions that will be used at the new F’Derick mining site. Epiroc will, in addition, provide service supervision and spare parts. The equipment order is valued around SEK150 million ($14.7 million) and was booked in the June quarter of… Read More Here

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