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Gold price pulls back after rate hike bounce 1 Gold International 

Gold price pulls back after rate hike bounce

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Gold prices pulled back on Thursday after rising as much as 1% following the half-a-point interest rate hike announced by the US Federal Reserve, the biggest in 22 years. Spot gold slipped 0.2% to $1,876.52 per ounce by 12:30 p.m. ET, having earlier hit its highest since April 29. US gold futures gained a modest 0.3% to $1,875.00 per ounce in New York. “I don’t think a whole lot changed in overall Fed policy from yesterday’s meeting, but it just gave gold and silver traders an excuse to rally the… Read More Here
Glencore rights record worst in green metals, group says 2 Green Energy International Mining Companies 

Glencore rights record worst in green metals, group says

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Glencore Plc has the worst human rights record among miners of metals used in renewable energy, the Business & Human Rights Resource Centre said in a report.  The alleged abuses attributed to all companies range from attacks on activists to violations of environmental laws to forced relocations. Complaints about Glencore’s mines accounted for 64 out of the 495 allegations tracked by the London-based group between 2010 and 2021.  “Globally, Glencore has the worst record,” the group said in its transition minerals tracker released on Wednesday. “It was the company linked to the… Read More Here
Good times are ahead for lithium miners as prices continue to surge 3 Battery Metals International Lithium 

Good times are ahead for lithium miners as prices continue to surge

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Good times are ahead for producers of lithium, the battery material that’s key to the electrification of transportation. Albemarle Corp., the world’s No. 1 miner of the silvery, white metal, boosted profit forecasts for the year as lithium prices soar due to demand from electric vehicles. The third biggest miner, Livent Corp., did the same. The popularity of electric vehicles has driven prices for battery metals sharply higher, even sparking fears of shortages of materials like lithium, cobalt and nickel. Lithium supplies are a concern in particular because there’s no… Read More Here
DRC-Ventora agreement: what does Dan Gertler win? (Franck Fwamba, mining activist) 4 Mining in DRC 

DRC-Ventora agreement: what does Dan Gertler win? (Franck Fwamba, mining activist)

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The Ventora group of Israeli businessman Dan Gertler is to return its mining and oil assets to the DRC. This, after the signing of a memorandum of understanding for an amicable settlement with the Congolese State. In figures, more than 2.5 billion US dollars will be returned to the DRC. Beyond the gains obtained by the Congolese state, what does Dan Gertler earn? The answers of Franck Fwamba, mining activist and coordinator of the organization “Touche pas à mon cobalt”.  Franck Fwamba is also a signatory of the declaration of the group of 31… Read More Here
The demand for Cobalt could increase by 143 to 370% between 2020 and 2040 5 Cobalt International 

The demand for Cobalt could increase by 143 to 370% between 2020 and 2040

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Linked to a very important economic industry, in particular that of electric cars, cobalt stands out as an essential mineral in the world economy. According to industry experts, the demand for cobalt could increase by 143 to 370% between 2020 and 2040 depending on the pace of the global energy transition. In terms of comparison, between 2000 and 2020, cobalt production increased by 320%, while copper production increased by 1,415%. Manufacturers of electric vehicle (EV) batteries (a market that has grown from virtually nothing in 2010 to producing 2.3 million… Read More Here
Barrick Gold Q1 profit beat estimates, doubles dividend 6 Gold International 

Barrick Gold Q1 profit beat estimates, doubles dividend

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Miner Barrick Gold doubled its quarterly dividend on Wednesday after reporting first-quarter profit above Wall Street expectations, on the back of higher gold and copper prices. Gold, traditionally seen as a safe haven to invest in during times of financial uncertainty, rose above $2 000/oz in early March after Russia invaded Ukraine. It has since retreated to around $1 850/oz. The miner’s realized gold price in the quarter rose 5.6% to $1 876/oz from a year earlier, while copper saw a near 14% increase to $4.68./lb. However, the company’s gold production in… Read More Here
Botswana Diamonds discovers largest anomaly to date at Thorny River project 7 Diamond 

Botswana Diamonds discovers largest anomaly to date at Thorny River project

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Aim- and BSE-listed Botswana Diamonds’ ground geophysics survey on its Thorny River property in South Africa has led to the discovery of the largest anomaly to date on the project, consistent with a kimberlite pipe of 25 m in diameter. A detailed drilling programme is planned for July to August, during the country’s dry season. “The discovery of our largest anomaly to date is an important development for Thorny River as this could add significant additional kimberlite tonnage to the developing mine plan,” chairperson John Teeling says. As a result of a… Read More Here
AVZ Minerals scores long-awaited Manono Project license 8 Battery Metals Lithium Mining in DRC Tin 

AVZ Minerals scores long-awaited Manono Project license

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AVZ Minerals Limited (ASX: AVZ, OTCQX: AZZVF) (AVZ or Company) is pleased to announce that the Minister of Mines has issued the Ministerial Decree to award the Permit d’Exploitation (PE or Mining Licence) for its flagship Manono Lithium and Tin Project (Manono Project). Dathcom Mining SA is 75% owned by AVZ International Pty Ltd, a wholly owned subsidiary of AVZMinerals Limited.Award of the Mining LicenceThe signing of the Ministerial Decree to award the Mining Licence to Dathcom Mining SA (Dathcom), in which AVZ holds a 75% interest via its wholly… Read More Here
Civil society round table on the agreement between the Congolese State and Dan Gertler is a step forward for citizen control of public action''- DRC 9 Mining in DRC 

Civil society round table on the agreement between the Congolese State and Dan Gertler is a step forward for citizen control of public action”- DRC

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The Collective of civil society organizations that took part in the round table organized by the Presidency of the Republic on the agreement signed between the DRC and the Ventora group of the economic operator Dan Gertler, discussed with the press on Tuesday May 3, on the main content of this agreement.  This group of 31 NGOs welcomes the act taken by the Presidency of the Republic to involve civil society in learning about the content of this agreement. These non-governmental organizations believe that the DRC has just taken a big… Read More Here
Oil drops as China lockdowns overshadow Russian output risk 10 International Oil & Gas 

Oil drops as China lockdowns overshadow Russian output risk

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Oil fell as lockdowns across China countered looming European Union measures to limit purchases of Russian fuel. West Texas Intermediate settled near $102 on Tuesday after a session marked by low liquidity. Crude has swung within a $15 band in the last three weeks as the market weighs the hit to demand from China’s covid wave against supply concerns stemming from bans on Russian crude. Investors are also bracing for the biggest US rate hike since 2000, which could slow demand. “Crude is trading sideways as we await further details from the… Read More Here

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