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De Beers rises small diamonds price amid shortage 1 Diamond International 

De Beers rises small diamonds price amid shortage

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De Beers, the world’s top diamond producer by value, has once again increased the price of its smaller stones as sanctions on Alrosa (MCX: ALRS), its Russian rival, have worsened a global shortage caused by two years of covid-related shutdowns. The Anglo American unit had hiked prices by about 8% at its first sale this year, with the sharpest increases of up to 20% affecting small-scale roughs, as demand reached pre-pandemic levels. Prices for these diamonds, which usually end up clustered around the solitaire stone in a ring, have soared since early April, when Alrosa was targeted by… Read More Here
Sandvik adds 30-tonne TH430 to Toro range 2 Equipment & Technology Mining technology 

Sandvik adds 30-tonne TH430 to Toro range

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Swedish OEM Sandvik is upgrading its 30 tonne TH430 dump truck with the newer engine technology and adding the TH430 to the Toro range. Sandvik said the upgraded Toro TH430 truck has two engine configuration options: Stage V and Tier II / EU Stage II, both from Volvo Penta. Stage II has an output of 310 kW and Stage V has an output of 315 kW. This “makes the Toro TH430 truck the most powerful underground truck in its size class”, said the firm. The newly introduced engine option, the 13-liter… Read More Here
Zambia starts search for new investor in Konkola Copper Mines 3 Copper Mining Companies Mining in Zambia 

Zambia starts search for new investor in Konkola Copper Mines

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Zambia’s Konkola Copper Mines (KCM) will appoint an adviser to help it find an equity investor willing to fund the mine’s expansion, its provisional liquidator said on Tuesday. Zambia’s previous government put KCM into the hands of a liquidator in May 2019, triggering an ongoing legal dispute with Vedanta Resources, KCM’s parent company. The government at that time accused Vedanta of failing to honour licence conditions, including promised investment, charges which Vedanta has denied. The government takeover of KCM goes to an arbitration hearing in January 2023 in London, Zambia’s… Read More Here
Improvement in mining products this week from June 6 to 11, 2022, copper at USD 9,442 per tonne 4 Cobalt Copper Mining in DRC Zinc 

Improvement in mining products this week from June 6 to 11, 2022, copper at USD 9,442 per tonne

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During this week from June 6 to 11, there is an upturn in the prices of the main mining export products of the Democratic Republic of the Congo on the international market, according to projections by the National Mercurial Commission of the Ministry of Trade. Copper is up this week at 9,442.80 USD per tonne against 9,401.70 USD per tonne last week, giving a positive price difference of 41.1 USD. Cobalt remains stable this week on the international market and is trading around 87,781.05 USD. Zinc is trending up this… Read More Here
Rwanda approves Minexx for mineral sourcing 5 Uncategorized 

Rwanda approves Minexx for mineral sourcing

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Blockchain mineral traceability firm Minexx has been approved by Rwanda’s government to support artisanal miners. In collaboration with the Rwanda Mines, Gas and Petroleum Board (RMB), Minexx will deploy and supervise blockchain powered technology to record and track mines’ key transactions, including miners’ payments, mineral traceability, minerals taxation, export process, supply chain corrective actions and community relations.  ASM operators will be using Minexx digital platforms and due diligence processes.  This will ensure that when ASMs extract tin, tungsten, tantalum, niobium and gold, they are transported, processed, exported and traded in… Read More Here
Zimbabwe signals state mine investment with Russia platinum exit 6 Platinum 

Zimbabwe signals state mine investment with Russia platinum exit

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Zimbabwe’s state mining vehicle, Kuvimba Mining House Ltd., is taking over the 50% shareholding in a platinum project owned by Russia’s Vi Holding NV and plans to make further mining acquisitions, according to nation’s Treasury.  The exit of Vi Holding from Darwendale Platinum, which would cost about $3 billion to develop and become Zimbabwe’s biggest platinum mine, brings to an end 16-years of Russian involvement with the project. The deposit was taken from South Africa’s Impala Platinum Holdings Ltd. in 2006 by the government of former Zimbabwean President Robert Mugabe… Read More Here
Meet ZCCM-IH’s new Board Chair 7 Mining Personality Mining in Zambia 

Meet ZCCM-IH’s new Board Chair

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With His Excellency President Hakainde Hichilema’s drive for a New Dawn for Mining in Zambia, ZCCM-IH – which holds stakes in many of the country’s mining operations – appears to have entered a new and dynamic phase. Mining For Zambia met up with the company’s recently appointed Board Chair, Ms. Dolika Banda, at last month’s Mining Indaba in Cape Town to find out more about its vision for the future.  While it sounds like you’ve been thrown into the deep end to some extent, you also seem to have embraced the challenges that come with your… Read More Here
Metso Outotec secures €100m Uzbek order 8 Equipment & Technology International Mining technology 

Metso Outotec secures €100m Uzbek order

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Metso Outotec has been awarded a €100 million order from Uzbekistan’s Almalyk Mining and Metallurgical Company. The Finnish company will provide equipment to Almalyk’s MOF3 copper-gold-molybdenum concentrator complex in Almalyk, in the Tashkent region of the country. The concentrator will have a planned capacity of 60 million tonnes per annum. The concentrator is located next to the Yoshlik-1 deposit. Metso Outotec will provide basic engineering, manufacturing, and supply of the Higmill regrinding mills, TankCell flotation equipment and high-rate thickeners, as well as FrothSense+ froth cameras. The company will also provide… Read More Here
Gold’s haven appeal burnished by drumbeat of growth warnings 9 Gold International 

Gold’s haven appeal burnished by drumbeat of growth warnings

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Gold could be heading for another rally, with warnings over a global economic slowdown paving the way for a fresh push toward $2,000 an ounce. A potent mix of decades-high inflation, geopolitical turmoil and growing talk of recession should be bullish for the traditional haven, according to speakers interviewed ahead of a precious metals conference in Singapore this week. Bullion is down about 10% from a peak in mid-March, after the concerns that Russia’s invasion of Ukraine might sprawl into a broader conflict dissipated. But with top banking executives now warning about fresh economic… Read More Here
Barrick commits to major socio-economic investments in Tanzania 10 Corporate social responsibility 

Barrick commits to major socio-economic investments in Tanzania

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Barrick Gold Corporation has announced that it would spend $6 for every ounce of gold sold by its two mines in the country on improving healthcare, education, infrastructure, and access to potable water in the communities around them. At the same time, it has committed up to $70 million for investment in value-adding national projects, including mining-related training, skills development, and scientific facilities at Tanzanian universities, as well as road infrastructure. This is in accordance with the conditions underlying Barrick’s framework agreement with the government, which included the establishment of… Read More Here

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