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Meet ZCCM-IH’s new Board Chair 1 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 2 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 3 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 4 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
Stronger China demand prospects propel copper to five-week peak 5 Copper International 

Stronger China demand prospects propel copper to five-week peak

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Copper prices climbed to five-week highs on Monday after the lifting of Covid-lockdowns in top consumer China boosted demand prospects while dwindling inventories provided further support. Benchmark copper on the London Metal Exchange (LME) was up 2.4% at $9 726 a tonne by 09:27 GMT, having earlier touched its highest since April 27 at $9,916.19. “China has slowly been reopening and has been announcing policy measures to support the economy … the market appears to continue to be pricing in a further rebound in Chinese activity over the coming months,” said… Read More Here
DRC Mining in Lubumbashi: MMG demonstrated its capabilities with nearly $20 million already invested in local communities 6 Mining in DRC Events & Expos 

DRC Mining in Lubumbashi: MMG demonstrated its capabilities with nearly $20 million already invested in local communities

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The mining company Kinsevere (MMG) actively participated in the 17th edition of DRC Mining which ended on Friday in Lubumbashi, capital of the province of Haut-Katanga. This mining giant took the opportunity to welcome the resumption of these meetings which, for the general manager of MMG, constitutes a boon for the miners, the suppliers as well as the Congolese government. “DRC Mining remains among the biggest events concerning the mining sector in Congo. This event brings together mining operators, service providers, the government and any other agency interested in mining. For… Read More Here
Ghana loses gold top spot as 2021 output falls to 13-year low 7 Gold 

Ghana loses gold top spot as 2021 output falls to 13-year low

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Ghana’s gold production fell 30% last year to its lowest in more than a decade, knocking the country off its spot as Africa’s top producer, the president of the mines chamber said on Friday, blaming a taxation change and operational challenges. He predicted production should strengthen this year as the mines address the challenges. The government has also announced a plan to purchase local gold that could encourage output. After a new tax was imposed on small-scale operations, output fell to 2.818-million ounces in 2021 – the lowest level since 2008 – from 4.022-million ounces in… Read More Here
Sandvik looks to an open, interoperable and automation-ready future 8 Equipment & Technology Mining technology 

Sandvik looks to an open, interoperable and automation-ready future

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To fully step into Industry 4.0 and realise the transformative power of solutions such as automation, artificial intelligence and advanced analytics requires a change in the way that mining data is handled and utilised from one system to the next, according to the Sandvik Rotary Drilling Division (part of Sandvik Mining & Rock Solutions). Programs that are designed to fully integrate with those from other vendors will not only deliver efficiency and cost benefits today, but also help mining houses transition into powerhouses of the future, it says. As mining… Read More Here
USAID and Equity BCDC partner to unlock $5 million in loans to small-scale artisanal miners in eastern DRC 9 Artisanal mining Mining in DRC 

USAID and Equity BCDC partner to unlock $5 million in loans to small-scale artisanal miners in eastern DRC

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The United States Agency for International Development (USAID) and Equity BCDC have partnered to unlock financial services and products for small-scale artisanal miners in eastern Democratic Republic of Congo (DRC) through the Zahabu Safi Project (Clean Gold) from USAID. As one of the largest banks in the DRC, Equity BCDC will invest USD 500,000 of its own funds combined with USD 200,000 grant from USAID’s Zahabu Safi (Clean Gold) project to create a blended finance solution authorized to reduce the mining risk of lending to the artisanal mining sector. This partnership… Read More Here
175 million USD in doorsteps owed by SICOMINES remain untraceable to the credit of the General Treasury Account- DRC 10 Mining in DRC Mining Companies 

175 million USD in doorsteps owed by SICOMINES remain untraceable to the credit of the General Treasury Account- DRC

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The report of the General Inspectorate of Finance (IGF) recently published in May 2022 reveals that Gécamines suffered various damages in the Chinese contract signed in 2007. This report notes for example that the doorsteps going to the State, on the amount owed by SICOMINES, ie 175 million USD, remains untraceable to the credit of the General Treasury Account to date. And the IGF promises to continue investigations into this issue. Overall on the Chinese contract, the observation of the IGF is that the signing of the hybrid mining and infrastructure… Read More Here

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