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Calls for tenders for the acquisition and exploitation of 16 oil blocks- DRC 1 Mining in DRC Energy Oil & Gas 

Calls for tenders for the acquisition and exploitation of 16 oil blocks- DRC

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The Congolese Minister of Hydrocarbons, Didier Budimbu, announces that he will proceed to calls for tenders for the exploitation of the oil blocks recovered by the Government from July 28 to 29, 2022 in Kinshasa. These operations will take place under the high patronage of the Congolese Head of State, Félix Antoine Tshisekedi, informs the communication service of the Ministry of Hydrocarbons. Through these tenders, the Government intends to get its hands on investors capable of enabling the country to increase its oil exploitation. According to the Minister of Hydrocarbons,… Read More Here
Sandvik to supply underground BEV fleet to Hindustan Zinc, one of the world’s largest integrated producers of zinc 2 Equipment & Technology International 

Sandvik to supply underground BEV fleet to Hindustan Zinc, one of the world’s largest integrated producers of zinc

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Sandvik and Hindustan Zinc have signed a Memorandum of Understanding for supply of a battery-electric underground equipment fleet to be used at Sindesar Khurd Mine to help it achieve its carbon neutrality ambitions. Deliveries are scheduled to begin in the first quarter 2023, and it will be the first underground BEV fleet deployed in India. The equipment to be delivered includes a LH518B loader and three TH550B trucks as well as a DD422iE drill rig with Sandvik’s unique and patented ”charging-while-drilling” technology. Sandvik will also provide batteries, charging systems and… Read More Here
Gold price falls to near 3-month low as Fed meeting approaches 3 Gold International 

Gold price falls to near 3-month low as Fed meeting approaches

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Gold prices fell to a near three-month low on Monday as increased prospects of faster rate hikes by the US Federal Reserve lifted both Treasury yields and the dollar, swaying investors away from the precious metal. Spot gold declined 1.6% to $1,869.52 per ounce by 12:20 p.m. ET, its lowest since mid-February. US gold futures took a 2.3% hit, trading at $1,867.50 per ounce in New York. Meanwhile, the dollar hovered close to a 20-year high amid global growth concerns and expectations of more hawkish tone from the Fed. Benchmark… Read More Here
Tesla delays filing as investors await word on possible stock split 4 Battery Metals International 

Tesla delays filing as investors await word on possible stock split

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Tesla Inc. needs more time to file a regular disclosure ahead of its annual shareholders’ meeting, pushing back a potential detailing of plans for issuing new shares and a possible stock split. Elon Musk’s electric-car-market leader said on Monday in a securities filing that it wouldn’t be able to file a proxy statement until sometime later this year, without providing a specific timeline. Tesla faced an April 30 deadline for filing its shareholder proxy after the end of its fiscal year on Dec. 31. “We currently expect that our definitive… Read More Here
Copper price slips on China lockdown worries 5 Copper International 

Copper price slips on China lockdown worries

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The copper price slipped on Monday as covid-19 lockdowns in China and prospects of aggressive US rate hikes fuelled recession fears. Copper for delivery in July fell 4% from Friday’s settlement price, touching $4.23 per pound ($9,307 per tonne) midday Monday on the Comex market in New York, the lowest since December 1. The official Purchasing Managers’ Index (PMI) fell to 47.4 points in April, down from 49.5 in March and the weakest outcome since February 2020, China’s National Bureau of Statistics said on April 30. It was the second straight… Read More Here
Set at 10%, the mining royalty rate in force in the DRC remains the highest 6 Mining in DRC 

Set at 10%, the mining royalty rate in force in the DRC remains the highest

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The mining governance of the Democratic Republic of Congo DRC is strongly challenged by several international organizations working in this sector. According to the March 2022 report published by the Extractive Industries Transparency Initiative(EITI), setting the mining royalty rate at 10%, the Democratic Republic of Congo has the highest rate in the world. The rise and fall of cobalt prices may have challenged some governments and companies. After the price hike between 2016 and 2017, the DRC government increased the royalty rate from 2% to 3.5% and then to 10%,… Read More Here
With the exception of tantalum, all other main DRC export minerals are trending down this week from May 2-7, 2022 7 Copper Cobalt Gold Mining in DRC Zinc 

With the exception of tantalum, all other main DRC export minerals are trending down this week from May 2-7, 2022

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The general trend of the main mineral export products of the Democratic Republic of the Congo is downward for the main mineral exports of the Democratic Republic of the Congo, according to projections by the National Mercurial Commission of the Ministry of Foreign Trade. Only tantalum is showing an uptrend this week. It is trading on the international market at 390 USD per Kg against 386.60 USD per Kg last week, i.e. a price increase of 3.4 USD. Copper is down this week at 10,047.05 USD per tonne against 10,284.55 USD… Read More Here
How the latest technology is driving safer, more sustainable, and optimised underground mining 8 Mining technology Equipment & Technology 

How the latest technology is driving safer, more sustainable, and optimised underground mining

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The mining sector is notorious for being slow when it comes to embracing new technology. Mining is a cyclical industry, so organisations have been wary of making big changes, but trends suggest that this could be changing. According to the Mine-Site Technology Adoption Survey, 2022 Update analysis from GlobalData, 39% of mines are expected to invest in battery electric vehicles in the coming two years, compared with only 23% in the Q4 2020 survey. So, what is pushing this increased interest in battery electric vehicles? Decarbonisation is one clear factor, with sustainability… Read More Here
Dwyka to make tech tangible at Mining Indaba, conduct live virtual walkabouts 9 Events & Expos Mining technology 

Dwyka to make tech tangible at Mining Indaba, conduct live virtual walkabouts

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Pan-African mining technology platform Dwyka Mining Services plans to have key technology partners join its team at the upcoming Investing in African Mining Indaba 2022 to offer their view on mining technology in an effort to “make tech tangible” for Dwyka customers. “Making technology tangible means getting people to demonstrate, interact, engage and see how technology can make a difference at their operations,” says Dwyka CEO Jamie van Schoor. The Investing in African Mining Indaba will be held in Cape Town from May 9 to 12. Dwyka assists underground mining clients to adopt and adapt to evolving technologies with a focus on supporting efforts to improve safety, health and environmental conditions in the collaborative pursuit of the digital mine of the… Read More Here
Market: the price of iron increases to 132.05 USD per ton 10 International Iron 

Market: the price of iron increases to 132.05 USD per ton

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The price of iron ore rose on Friday, fueled by demand hopes as Beijing pledged to step up policy support to stabilize the economy. At a Politburo meeting chaired by President Xi Jinping on Friday, Xi said China would adopt a set of policies to help pandemic-hit industries, step up infrastructure construction and support the healthy development of the real estate market. The benchmark iron ore on the Dalian Commodity Exchange jumped 4.2% to 870 yuan ($132.05) a ton at the close. China announced on Thursday that it would cut… Read More Here

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