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Vedanta urges Zambia to halt search for new KCM investor 1 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  2 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) 3 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 4 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! 5 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 6 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 7 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
One of world’s biggest cobalt mines is at stake in Congo fight 8 Cobalt Copper Mining in DRC 

One of world’s biggest cobalt mines is at stake in Congo fight

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A dispute over one of the biggest copper and cobalt mines is escalating in the Democratic Republic of Congo, threatening to disrupt exports of essential battery materials and raising questions about the project’s future. A top executive from state mining company Gecamines said that partner CMOC Group Ltd. owes $7.6 billion in overdue payments, and even accused the Chinese metals producer and trader of posing a threat to national security. CMOC said it denies the allegations, “strongly” opposes what it views as unjustified attacks, and will defend its rights and interests. The… Read More Here
Congo administrator seizes CMOC cobalt mine bank accounts – adviser 9 Cobalt Copper Mining in DRC 

Congo administrator seizes CMOC cobalt mine bank accounts – adviser

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A temporary administrator appointed by a Congolese court to run the world’s second-largest cobalt mine took control of the project’s bank accounts after majority owner CMOC refused him access to the mine, an adviser said on Wednesday. In written responses to Reuters, CMOC spokesman Vincent Zhou reiterated comments from two weeks ago that the Tenke Fungurume mine (TFM) has not changed its management, but he did not address questions about TFM’s bank accounts. A Congolese court appointed the administrator, Sage Ngoie Mbayo, in February to manage TFM for six months after… Read More Here
Zambia: Hope for Kabwe Lead Poisoning Victims 10 Mining in Zambia Oil & Gas 

Zambia: Hope for Kabwe Lead Poisoning Victims

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The Zambian government’s recent actions to address the toxic legacy of lead in Kabwe, in central Zambia, brings hope to affected communities, 15 Zambian and international nongovernmental organizations said today. In March 2022, Zambia’s President Hakainde Hichilema established a new technical committee to tackle extreme levels of lead pollution from a former mine and smelter in Kabwe, and to protect human health and the environment. The committee met for the first time on June 3 at the Ministry of Green Economy and the Environment and will propose a plan for a sustainable… Read More Here

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