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Ivanhoe Electric shares fall in debut after $169 million IPO 1 International Mining Companies 

Ivanhoe Electric shares fall in debut after $169 million IPO

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Shares in Ivanhoe Electric (NYSE America, TSX: IE), the latest endeavour of mining magnate Robert Friedland, were falling on their trading debut on Tuesday morning after the company raised as much as $169 million in an initial public offering on Monday. The exploration and development company, which owns properties in Arizona, Utah and Montana, along with a battery storage business, sold on Monday almost 14.4 million shares for $11.75 each, slightly short of the $12.5 each it aimed for. The transaction, however, was still the biggest US IPO since May 12, when oilfield… Read More Here
Sandvik launches 'smart' longhole drill rig 2 Equipment & Technology Mining technology 

Sandvik launches ‘smart’ longhole drill rig

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Sandvik Mining and Rock Solutions has launched a new i-series top hammer longhole drill rig, Sandvik DL422i. Sandvik said the rig is the diesel counterpart to the Sandvik DL422iE battery electric drill in 2021.  The rig, designed for underground mass mining in 4 x 4 meter or larger production drifts, is for operations with challenging site conditions that are not optimized for a battery-electric fleet.  “The new DL422i expands our i-series longhole production drill offering with traditional diesel engine layout, and starts to take over the work load of its… Read More Here
China's Huayou faces clash with regulator over Zimbabwe lithium project 3 Lithium 

China’s Huayou faces clash with regulator over Zimbabwe lithium project

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China’s Zhejiang Huayou Cobalt faces regulatory pressure to produce battery-grade lithium in Zimbabwe within five years, official documents seen by Reuters show, something the miner has already said cannot be achieved. China’s biggest cobalt refiner acquired the hard-rock Arcadia lithium mine just outside Harare for $422-million earlier this year and has announced plans to spend $300-million. But it has said production of battery-grade lithium in Zimbabwe is “not feasible” due to a shortage of electricity and other key inputs. However, as a condition for approving the deal the Competition and… Read More Here
Vedanta urges Zambia to halt search for new KCM investor 4 Mining in Zambia Governance 

Vedanta urges Zambia to halt search for new KCM investor

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Zambia should halt the search for a new investor in Konkola Copper Mines (KCM) until litigation with Vedanta Resources is settled, the Indian mining company said on Tuesday. Zambia’s previous government put KCM in the hands of a liquidator in May 2019, triggering the ongoing legal dispute with Vedanta Resources, KCM’s parent company. The government accused Vedanta of failing to honour licence conditions, including promised investment. Vedanta has repeatedly denied it broke the terms of its licence. KCM provisional liquidator Celine Nair said on June 7 that the company would appoint an adviser to help it to find an… Read More Here
Prices of the main mining export products of the DRC are down during this week from June 27 to July 2, 2022  5 Mining in DRC Cobalt Copper Zinc 

Prices of the main mining export products of the DRC are down during this week from June 27 to July 2, 2022 

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This is bad weather for the main mining export products of the DRC. During this week from June 27 to July 2, 2022, the general trend of prices on the international market shows a drop, according to projections by experts from the National Mercurial Commission of the Ministry of Foreign Trade. Copper shows a drop in price of around 434.7 USD. It is traded around 8960.20 USD per ton this week against 9394.90 USD per ton last week. Zinc is also down this week at 3640.95 USD per tonne against 3702.40 USD… Read More Here
Global iron ore production growth to accelerate through 2026 (Report) 6 Iron Ore International 

Global iron ore production growth to accelerate through 2026 (Report)

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Growth in global iron ore production will accelerate in coming years, ending the stagnation that has persisted since iron ore prices hit a 10-year average of $55 a tonne in 2015, the report says. market analyst Fitch Solutions in its latest industry report. Continued, albeit slower, growth in Australia, faster growth in Brazil and stabilization of ore production in mainland China will be key growth drivers, Fitch said. China will invest heavily in overseas mining to improve iron ore supply security, and Guinea will be a major beneficiary of this trend… Read More Here
KCM and Indo Zambia Bank hold exploratory discussions for bridge financing to the company 7 Mining Companies Mining in Zambia 

KCM and Indo Zambia Bank hold exploratory discussions for bridge financing to the company

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Konkola Copper Mines Plc (KCM) and Indo Zambia Bank have held exploratory discussions to establish a strong business partnership, which would unlock bridge financing to the mining company by the bank to pave the way for growth. KCM Provisional Liquidator Celine Nair, who is also the acting Administrator General and Official Receiver of Zambia, held business talks with Indo Zambia Bank Managing Director Kowdichar Shashidhar and other senior bank officials during a visit to KCM in Chingola. The Provisional Liquidator’s team comprised her agent Jason Kazilimani, the acting Chief Executive… Read More Here
Dan Gertler now has the Republic as a lawyer, it's a shame! 8 Mining in DRC 

Dan Gertler now has the Republic as a lawyer, it’s a shame!

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After the signing of the amicable agreement between the Congolese government and Dan Gertler, the Minister of State for Justice has indicated that the Israeli businessman no longer has mining assets in the Democratic Republic of Congo but when his American sanctions are lifted, the doors will always be open to him but business should be done in accordance with the laws and texts of the country. André Wameso, Dircaba of the Head of State in charge of economic and financial issues and vice-president of the commission which ruled in… Read More Here
Gold rises as G7 nations plan to ban bullion imports from Russia 9 Gold International 

Gold rises as G7 nations plan to ban bullion imports from Russia

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Gold prices gained on Monday, as news of some Western nations planning to officially ban imports of the metal from Russia for its invasion of Ukraine sparked some interest in bullion. Spot gold rose 0.5% to $1 835.75/oz by 05:20 GMT. US gold futures were up 0.4% at $1 837.30. “The G7 import ban on Russian gold seems to be providing some short-term support in early Asia (trading),” OANDA senior analyst Jeffrey Halley said. “However, it is mostly a rubber stamp exercise in reality for the grouping, and I do not expect this to mark… Read More Here
Kagem an exemplary employer – Lufwanyama DC 10 Mining in Zambia Mining Companies 

Kagem an exemplary employer – Lufwanyama DC

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Lufwanyama District Commissioner Justin Mwalikwa has commended Kagem’s move to honour its staff during an award ceremony held as part of International Labour Day Celebrations, calling the mine an exemplary employer. Mr Mwalikwa said the Government encouraged such gestures because they demonstrate how Kagem continues to improve staff welfare by recognising the contributions employees have made to the mine’s success. “Kagem thrives because it appropriately takes care of its staff and motivates them accordingly. We believe that is why everyone puts in their best to drive the company forward,” he… Read More Here

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