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Guinea halts Simandou iron ore project again 1 Iron Ore 

Guinea halts Simandou iron ore project again

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Guinea’s mines minister has once again ordered a full suspension of activities related to the Simandou iron ore mine project after the two companies involved missed an extended deadline to agree on a joint venture. Mines Minister Moussa Magassouba, a member of the ruling junta, said that both Rio Tinto’s (ASX, LON: RIO) subsidiary Simfer and Chinese-backed consortium Winning Consortium Simandou (WCS) have shown a “lack of willingness” to work on a partnership, local news outlet  Vision Guniee reports. “There is a major discrepancy between the companies’ vision to implement… Read More Here
CMOC targets H1 2023 for DRC mine production 2 Mining in DRC Cobalt Copper 

CMOC targets H1 2023 for DRC mine production

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Chinese firm CMOC is targeting the first half of 2023 for production to begin at its KFM copper-cobalt mine in Democratic Republic of the Congo. CMOC acquired a 95% stake in KFM, then called Kisanfu, from the DRC government in December 2020. CMOC paid US$550 million for the mine. Full production will see KFM produce an average of 90,000 tons of copper and 30,000 tons of cobalt. CMOC is also developing the Tenke Fungurume copper-cobalt mine, located 33 kilometres from KFM. In 2019, the mine produced 177,956 tonnes of copper… Read More Here
Gold teeters above $1 800 as lower yields counter dollar strength 3 Gold International 

Gold teeters above $1 800 as lower yields counter dollar strength

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Gold inched higher in choppy trade on Monday, as weakness in Treasury yields kept prices above the $1 800 mark and marginally outweighed pressure stemming from an elevated US dollar. Spot gold was up 0.1% at $1 811.76/oz, as of 05:44 GMT. US gold futures rose 0.7% to $1 813.70. Bullion prices hit a five-month low of $1 783.50 on Friday, but recovered to end the session nearly steady. “Once again, we saw buyers support gold with its break below $1 800 on Friday, and with US yields continuing to retrace, it allows the potential for gold to rise over the… Read More Here
Glencore going all-electric at new Canada mine, says Epiroc 4 Equipment & Technology Mining technology 

Glencore going all-electric at new Canada mine, says Epiroc

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Diversified mining company Glencore has ordered a full fleet of battery-electric equipment for use at its Onaping Depth Project at the Sudbury integrated nickel operations, in Canada, says mining equipment manufacturer Epiroc. The nickel and copper mine is located below the existing Craig mine and is being developed to start production in 2024. “Glencore is taking a major leap forward in the mining industry by going all-electric with its Onaping Depth Project,” says Epiroc president and CEO Helena Hedblom. Epiroc states that it is a “large order”, which the company defines as at least 100-million Swedish krone in value. The ordered battery-electric equipment is manufactured in Örebro, Sweden. The 23 machines ordered include… Read More Here
Copper sinks to 17-month low as slowdown fears mount 5 Copper International 

Copper sinks to 17-month low as slowdown fears mount

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Copper prices dropped to a fresh 17-month low on Monday as renewed lockdowns in top consumer China and the prospects of aggressive rate hikes stoked fears of global economic slowdown, denting demand for metals. Three-month copper on the London Metal Exchange was down 1.4% at $7 938/t, as of 07:17 GMT, after hitting its lowest since early-February 2021 at $7 918 earlier in the session.  The most-traded August copper contract in Shanghai ended daytime trading down 3.1% to 60 660 yuan a tonne. “Softening demand and concerns over a growth slowdown are dragging on the… Read More Here
Sandvik to acquire PCD tools manufacturer Frezite 6 Equipment & Technology International Mining technology 

Sandvik to acquire PCD tools manufacturer Frezite

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Sandvik has signed an agreement to acquire 100% of the equity interests of the Portugal-based company Frezigest, SGPS (“Frezite”). Frezite’s offering primarily consists of made-to-order polycrystalline diamond (PCD) tools for metal and wood applications, with exposure to the automotive, general engineering and aerospace segments. The company will be reported within Walter, a division within Sandvik Manufacturing and Machining Solutions. “With the acquisition of Frezite, we take another important step in our shift to growth strategy. We have a clear ambition for our machining solutions business to increase our presence and… Read More Here
Mining opportunities in SADC will favour those in the know 7 Uncategorized 

Mining opportunities in SADC will favour those in the know

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With mining seeing a more sustained improvement in many Southern African Development Community (SADC) countries, miners, and supply partners with experience on the ground are set to have greater gains in the coming year. Miners in the region are not only currently enjoying high commodity prices, but also benefiting from improved supply chains, despite the global disruptions because of the pandemic, and stronger production performances, marking an encouraging first half of the year for the sector. The positive trend is set to continue in the second half. This year’s Investing… Read More Here
Copper tailings reclamation in Zambia: Jubilee Metals’ advantage 8 Copper Mining in Zambia 

Copper tailings reclamation in Zambia: Jubilee Metals’ advantage

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Dual-listed metals recovery business Jubilee Metals Group (Jubilee) has undergone a significant transition over the last two years – extending its metals production from PGM and chrome material in South Africa to include copper in Zambia. Owing to the country’s enormous volumes of copper tailings material, the company has taken up a first mover advantage in establishing a new industry sector, one that financially benefits its shareholders, but of equal importance, all local stakeholders as well, CEO LEON COETZER tells LAURA CORNISH. For anyone that may not be familiar with Jubilee, the company… Read More Here
The IMF warns, the increase in mining revenues will not be enough to offset certain expenses- DRC 9 Uncategorized 

The IMF warns, the increase in mining revenues will not be enough to offset certain expenses- DRC

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The Executive Board of the International Monetary Fund has concluded the 2022 consultations and the review of the Extended Credit Facility for the Democratic Republic of the Congo. All indicative targets were met except for social spending. The IMF points to persistent shortcomings in inter-ministerial coordination.  He also points out other weaknesses and calls for caution. For this year, growth was reduced to 6.1% (against 6.4% previously).  Despite excess liquidity, credit to the private sector remains weak (at 7% of GDP) and the banking sector vulnerable, she said.  The IMF… Read More Here
Drone use rising in mines, with surveying and mapping the most common application 10 Equipment & Technology Mining technology 

Drone use rising in mines, with surveying and mapping the most common application

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The use of drones is increasing across the mining sector, driven by benefits such as improved productivity, safety, and reduced costs, with a wide variety of uses. These include surveying and mapping; monitoring and inspection; site safety management; tailings dam management; blasting assessment and haul road optimisation.  Surveys of mine sites, both surface and underground, over the last four years by GlobalData have shown that the share of mines that have invested to some extent in drones has increased from 44% in 2018 to 65% in 2022, with 32% in… Read More Here

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