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Congo plans border post expansion as mining trucks endure up to 60 km queues 1 Mining in DRC Mining in Zambia 

Congo plans border post expansion as mining trucks endure up to 60 km queues

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Democratic Republic of Congo plans to expand its main border post with Zambia, a source close to its government said, to ease truck queues of up to 60 km that copper miners have faced this year due to increased production and inadequate infrastructure. The backlog of trucks at Kasumbalesa, a border town and the main exit point for metals exports from Congo, is an example of supply chain disruption that will make it harder to meet future demand for copper, essential for electric vehicles. “A construction project for a second… Read More Here
Copper price hits a 20-month low on recession fears 2 Copper International 

Copper price hits a 20-month low on recession fears

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Copper prices hit a 20-month low on Monday as persistent worries that a recession would dampen metals demand hit a market with thin summer volumes. Copper for delivery in September fell 3% from Friday’s settlement, touching $3.41 per pound ($7,517 per tonne) Monday morning on the Comex market in New York, the lowest since November 2020. “The dollar strength was the trigger that came on top of the recent recession fears, pulling the rug from under the market,” said Ole Hansen, head of the commodity strategy at Saxo Bank in… Read More Here
ANGLO AMERICAN INVESTS IN SANERGY ORGANIC WASTE UPCYCLING 3 Mining in Zambia Energy 

ANGLO AMERICAN INVESTS IN SANERGY ORGANIC WASTE UPCYCLING

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Anglo American has agreed to lead the latest investment round of Sanergy Inc, an organic waste upcycling business with operations in Kenya. Sanergy’s innovative solutions are helping to transform how fast-growing cities in the developing world manage waste by upcycling it into high value agriculture and energy products – such as insect-based protein for animal feed, organic fertiliser for regenerative farming and biomass fuel for sustainable, localised power sources. Sanergy’s zero-waste approach, founded on the principles of circularity, contributes to protecting human health and reducing environmental emissions, promoting sustainable agriculture,… Read More Here
Gold nears 9-month low as looming rate hikes lift dollar 4 Gold International 

Gold nears 9-month low as looming rate hikes lift dollar

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Gold prices fell on Monday, lingering near a recent nine-month low, after strong US job market data last week boosted the dollar and the likelihood of another big rate hike by the Federal Reserve. Spot gold fell 0.3% to $1 736.11/oz by 12:17 GMT. US gold futures dipped 0.6% to $1 732.40. The dollar rose about 0.8% dimming greenback-priced gold’s appeal among overseas buyers. The jobs report published on Friday tempered some of the recessionary fears that were starting to cast doubts over how far the Fed could go in terms of… Read More Here
Barrick recognised as key socio-economic partner to Tanzania 5 Mining Companies 

Barrick recognised as key socio-economic partner to Tanzania

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Barrick Gold Corporation has been recognised as the largest contributor to government revenue in 2021, confirming its position as a key partner in the socio-economic development of Tanzania. President and chief executive Mark Bristow said that since the company took control of North Mara and Bulyanhulu in September 2019, its total in-country investment has totalled $1.995 billion1. In the first half of this year, it has paid $158 million in taxes, royalties and levies, $42 million in distributions to the Government of Tanzania in the form of dividends and shareholder… Read More Here
Civil society denounces the lifting of the suspension of certain Chinese mining companies in Mwenga- DRC 6 Mining in DRC Mining Companies 

Civil society denounces the lifting of the suspension of certain Chinese mining companies in Mwenga- DRC

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The member organizations of the Mining and Hydrocarbons Thematic Working Group of civil society in South Kivu are indignant at the lifting of the measure suspending the activities of certain mining companies, in particular Oriental Resources Congo (ORC), active in the territory of Mwenga without respecting the defined clauses. In a statement signed this Thursday, July 7, 16 organizations deplore in particular the fact that the restrictions are lifted without a parliamentary inquiry being carried out. “The absence of the real nature of the exploitation by this company hidden under… Read More Here
Giant Congo cobalt mine exports at risk as investors feud 7 Cobalt Copper Mining in DRC 

Giant Congo cobalt mine exports at risk as investors feud

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An intensifying feud between shareholders of the giant Tenke Fungurume Mining SA in the Democratic Republic of Congo may lead a court-appointed administrator to block its exports of copper and cobalt. The administrator, Sage Ngoie Mbayo, began ordering the export suspension over the past week as he tries to resolve a dispute over royalty payments between CMOC Group Ltd. and state-owned miner Gecamines, according to four separate letters sent to a Congolese tax agency, and three export agents including a unit of France’s Bollore Group. The documents seen by Bloomberg were verified… Read More Here
Asante pours first gold at Bibiani mine in Ghana 8 Gold 

Asante pours first gold at Bibiani mine in Ghana

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Canada’s Asante Gold (TSX-V: ASE) (GSE: ASG) has poured first gold at its Bibiani gold mine in Ghana, which is expected to produce 175,000 ounces of the precious metal over the next 12 months. The news follows the commissioning of the processing plant and associated equipment at the mine in early June. The Vancouver-based company said this was the final operating area of the process plant to be commissioned, adding that scale up of production is continuing as planned, including collection of gold on carbon. Bibiani, which Asante acquired last year from Australia’s Resolute Mining (ASX, LON: RSG),… Read More Here
ZESCO, CEC ink 13 year new Bulk Supply Agreement 9 Mining in Zambia Energy 

ZESCO, CEC ink 13 year new Bulk Supply Agreement

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ZESCO Limited is pleased to announce the successful signing of a 13 year Bulk Supply Agreement with the Copperbelt Energy Corporation (CEC) effective 1st April 2022. This Agreement was signed two years after the expiry of the Bulk Supply Agreement between the two institutions that had been in existence from 21st November 1997 to 31st March 2020. The expiry of the old Bulk Supply Agreement was preceded by unsuccessful attempts to negotiate a successor agreement which was followed by a two-year period of trade on disputed terms between the two… Read More Here
Copper price up supported by pullback in the dollar 10 Copper International 

Copper price up supported by pullback in the dollar

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Copper prices climbed on Thursday after hitting a near 20-month low in the previous session, supported by a slight pullback in the US dollar. Copper for delivery in September rose 5% from Wednesday’s settlement, touching $3.58 per pound ($7,876 per tonne) Thursday morning on the Comex market in New York, after hitting its lowest since November 2020 this week. The most-traded August copper contract in Shanghai rose 0.2% to 57,950 yuan ($8,641.90) a tonne. The dollar eased 0.1% after scaling a 20-year peak against its rivals, making greenback-denominated metals slightly less expensive… Read More Here

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