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KCM and Indo Zambia Bank hold exploratory discussions for bridge financing to the company 1 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! 2 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 3 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 4 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 5 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 6 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 7 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
Gemfields share price soars by 7% 8 Gemstones International Mining in Zambia 

Gemfields share price soars by 7%

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Gemfields’ stock soared nearly 7% on the JSE yesterday after the supplier of coloured gemstones said that its first ruby auction of the year brought in $95.6 million (R1.6 billion), the company’s all-time high auction income. In intraday trading on Monday, the shares were trading at R3.55. The Gemfields Group, headquartered in London and traded on the Johannesburg and London Stock Exchanges, specializes in emerald mining at the Kagem mine in Zambia and the Montepuez Ruby Mining (MRM) in Mozambique. According to the report, the ruby auction consisted of seven… Read More Here
Zambians must benefit more from mining, minister says 9 Mining in Zambia 

Zambians must benefit more from mining, minister says

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Zambia needs to hold a bigger stake in new mines and local communities should benefit more from the mineral values chain, mines minister Paul Kabuswe said on Wednesday. “This government is saying Zambians must be an integral part of whatever investment. We can no longer sit in the terraces and watch,” Kabuswe said at a conference. The minister said later in response to questions that the government was planning to increase the state’s shareholding in new mines to ensure that Zambia maximises its benefits from the sector. “Going forward, I… Read More Here
Gold firms as economic fears return to centre stage 10 Gold International 

Gold firms as economic fears return to centre stage

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Gold rose on Wednesday as renewed fears of a recession bolstered bullion’s allure as a safe haven and countered pressure from a firmer dollar, while investors awaited monetary policy cues from the Federal Reserve. Spot gold reversed initial declines to rise 0.4% to $1 839.86/oz by 11:45 GMT, while US gold futures gained 0.2% to $1 841.70. World stocks fell as concerns of rising interest rates and recession persisted.  Adding to this, soaring food prices pushed British consumer price inflation to a 40-year high of 9.1% last month.  “You have all the fears of rising recession… Read More Here

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