You are here

Written by 

Gold price hits nine-month low as dollar reaches two-decade high 1 Gold International 

Gold price hits nine-month low as dollar reaches two-decade high

admin
Gold extended its selloff to a nine-month low on Wednesday as investors await the US Federal Reserve’s June meeting minutes for clarity on the nature and pace of interest rate hikes coming up. Spot gold dropped 1.6% to $1,737.11 per ounce by 1:15 p.m. ET, adding to its losses from the previous session. US gold futures also fell 1.6% to $1,735.90 per ounce in New York. Meanwhile, the US dollar again hit a two-decade high, emerging as the preferred haven of late for investors looking to hedge growing recession fears, while also… Read More Here
Sandvik chooses Cat HVO engines to cut emissions 2 Equipment & Technology Mining technology 

Sandvik chooses Cat HVO engines to cut emissions

admin
Caterpillar’s long-standing commitment to sustainability and support for customers during the energy transition to a lower-carbon future means its industrial engines have for many years been capable of running on a range of renewable and alternative fuels. The Cat C Series engines supplied to Sandvik mobile crushers and screens to power its mining and construction equipment can run on renewable and alternative fuels including hydrotreated vegetable oil (HVO) certified to EN15940 or ASTM D975. Sandvik has successfully completed testing on its range of machines to confirm that they can operate with HVO… Read More Here
Hydrocarbons, Nigeria ready to provide its expertise in support of the call for tenders for the 16 oil and 3 gas blocks in DRC 3 Mining in DRC Oil & Gas 

Hydrocarbons, Nigeria ready to provide its expertise in support of the call for tenders for the 16 oil and 3 gas blocks in DRC

admin
Nigeria, the leading oil producer in Africa, has positioned itself to support the tender operation for 16 oil and 3 gas blocks that the Ministry of Hydrocarbons of the Democratic Republic of Congo (DRC) is preparing to launch on July 28 and 29, 2022. The Nigerian Ambassador posted to the DRC, Omar Suleman, confirmed the option taken by his country with the Congolese Minister of Hydrocarbons, on Tuesday July 6, 2022, during an interview granted to diplomats posted in Kinshasa. The Nigerian Ambassador reaffirmed his country’s desire to support the… Read More Here
DGI should prosecute 11 mining companies to recover USD 876.1 million in overdue superprofits- DRC 4 Mining in DRC Mining Companies 

DGI should prosecute 11 mining companies to recover USD 876.1 million in overdue superprofits- DRC

admin
The Directorate General of Taxes (DGI) should initiate proceedings against eleven (11) mining companies established in the Democratic Republic of Congo not in good standing with the payment of superprofits. This is the path chosen by the Ministry of Finance and adopted at the meeting of the Council of Ministers on Friday July 1, 2022. Following the analyzes carried out within the Office of the Minister of Finance, Nicolas Kazadi, on the payment of the special tax on excess profits (ISPE) during the 2021 financial year, the amounts of the… Read More Here
For the 2021 financial year, Glencore paid USD 856 million in taxes, duties and royalties to the Government of the DRC 5 Mining in DRC Mining Companies 

For the 2021 financial year, Glencore paid USD 856 million in taxes, duties and royalties to the Government of the DRC

admin
Mining giant Glencore paid US$856 million in taxes, duties and royalties to the Government of the Democratic Republic of Congo (DRC) in fiscal year 2021. This is what emerges from the report that Glencore published on June 30, 2022 on its website (www.glencore.com) concerning the various payments made to the DRC Public Treasury in 2021. A report that complies with the requirements in reporting requirements of Chapter 10 of the European Union (EU) Accounting Directive. To this end, Glencore’s contribution to the economy of the Democratic Republic of Congo during… Read More Here
'Kibali's over $4 billion investment has created a thriving regional economy'- Mark Bristow 6 Mining in DRC Mining Companies 

‘Kibali’s over $4 billion investment has created a thriving regional economy’- Mark Bristow

admin
With its investment valued at over US$4 billion, the Kibali mine has created a thriving regional economy. This, through partnerships with local entrepreneurs benefiting from a framework. These statistics were revealed by Mark Bristow, President and CEO of Barrick, during the 45th press conference held this Tuesday, July 5, 2022 in Kinshasa. According to Mark Bristow, before the arrival of Kibali in Haut-Uélé, life was dear to Doko but since the installation of this mine in the corners, things have changed. “A road was built when it was impassable. There was also… Read More Here
Alphamin achieves record quarterly output, declares dividend 7 Mining in DRC Mining Companies 

Alphamin achieves record quarterly output, declares dividend

admin
TSX-V- and AltX-listed Alphamin Resources achieved record quarterly tin production of 3 180 t from its high-grade operation in the Democratic Republic of Congo (DRC) for the three months ended June 30. Output was 4% higher than that produced in the quarter ended March 31. Underground mining and processing plant recoveries were in line with expectations. Further, year-to-date contained tin production of 6 241 t exceeded the run-rate to achieve market guidance of 12 000 t for the full-year. Meanwhile, second-quarter earnings before interest, taxes, depreciation and amortisation are estimated at $66.5-million. All-in sustaining costs… Read More Here
Congo orders China's CMOC to stop exports from Tenke Fungurume cobalt mine 8 Cobalt Copper Mining in DRC 

Congo orders China’s CMOC to stop exports from Tenke Fungurume cobalt mine

admin
A temporary administrator appointed by a Congolese court to run the world’s second-largest cobalt mine ordered majority owner CMOC to suspend marketing and export of its production, letters seen by Reuters showed. CMOC, which has previously said that Tenke Fungurume Mining (TFM) remains under its management, did not immediately reply to a request for comment on the letters dated June 29 and July 1. The order is the latest escalation in a dispute between CMOC, which owns 80% of TFM, and Democratic Republic of Congo’s state mining company Gecamines, which holds the remaining 20%. Congo’s government… Read More Here
Gold price sinks to half-year low amid growing recession fears 9 Gold International 

Gold price sinks to half-year low amid growing recession fears

admin
Gold prices slumped to their lowest in more than six months on Tuesday, as the US dollar rallied amid growing recession concerns that caused losses across risk assets. Spot gold dropped 2.2% to $1,767.93 per ounce by 2:50 p.m. ET, the first time it has fallen below $1,800 since mid-May. US gold futures were down 1.9% to $1,767.60 per ounce in New York. US stocks also slumped on Tuesday with growing fears that the Federal Reserve’s rate hikes to damp inflation could cause a slowdown in the economy. Meanwhile, the… Read More Here
Copper price lowest since November 2020 on economic slowdown worries 10 Copper International 

Copper price lowest since November 2020 on economic slowdown worries

admin
Copper prices extended a decline on Tuesday as aggressive interest rates, a spike in covid-19 cases in China, potential recession, and rising inventories weighed on investor sentiment. Copper for delivery in September fell 4.8% from Monday’s settlement, touching $3.43 per pound ($7,546 per tonne) Tuesday morning on the Comex market in New York, the lowest since November 2020. The most-traded August copper contract in Shanghai ended daytime trading down 1.9% to 60,110 yuan ($8,975.66) a tonne by midday trade. “There was a bull trap set early at the open today as… Read More Here

You have successfully subscribed to the newsletter

There was an error while trying to send your request. Please try again.

Copperbelt Katanga Mining will use the information you provide on this form to be in touch with you and to provide updates and marketing.