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Zambia and DRC sign Cooperating Agreements to Start Manufacturing Electric Batteries 1 Battery Metals Mining in DRC Mining in Zambia 

Zambia and DRC sign Cooperating Agreements to Start Manufacturing Electric Batteries

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Head of State Félix Tshisekedi and his Zambian counterpart Hakainde Hichilema decide to harmonize their development policies and strategies vis-à-vis the mining and industrial sector for the success of the market relating to the establishment of a value in the electric battery and clean energy sector. To do this, they have set up a framework called “Battery Council of the Republic of Zambia and the Democratic Republic of Congo (DRC – Zambia Battery Council). “Our two brotherly states agree to set up a common governance framework, called the Battery Council of… Read More Here
Gold price back above $1,900, but still on pace for monthly drop 2 Gold International 

Gold price back above $1,900, but still on pace for monthly drop

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Gold reversed course and climbed back above the $1,900/oz level on Friday, as the precious metal was boosted by a pullback in the dollar. Spot gold gained 0.8% to $1,910.26/oz by 11:00 a.m. ET, having dropped to a two-month low earlier this week. US gold futures were up by 1.2%, trading at $1,915.30/oz on the Comex. “The dollar strengthening early in the week was a major driver for the gold weakness, and as we’ve seen the dollar reverse … that is clearly lending some support to gold,” Saxo Bank analyst Ole Hansen told Reuters,… Read More Here
Trafigura seeks control of Zimbabwe’s metals for unpaid debts 3 Mining Companies 

Trafigura seeks control of Zimbabwe’s metals for unpaid debts

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Trafigura Group and Zimbabwe’s government have discussed a deal that would give the commodities trader control over output from some of the nation’s biggest mines as repayment for debts, documents seen by Bloomberg show. Under the agreement, Trafigura will be paid $225.6 million by nickel- and gold-mining subsidiaries of state-run Kuvimba Mining House Ltd. for fuel bills Zimbabwe owes Trafigura on contracts dating back to 2016, the documents show. Zimbabwe’s government was represented by the Finance Ministry in the agreement. Trafigura is one of the world’s biggest oil and metals… Read More Here
GoviEx ramps up at Mutanga, targeting feasibility study 4 Mining in Zambia New Mining Projects Uranium 

GoviEx ramps up at Mutanga, targeting feasibility study

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Canada-based GoviEx Uranium has started its 2022 field programme at its 100%-owned and mine-permitted Mutanga uranium project, in Zambia, which is planned to be developed following the company’s flagship Madaouela uranium project, in Niger. The field programme will target key aspects that will assist to progress Mutanga towards completion of a feasibility study and potential subsequent funding and construction. The planned field programme includes 15 500 m of infill drilling, with the aim to upgrade Mutanga’s Dibwe East resource from the inferred to the indicated category, extending the work completed… Read More Here
A ton of cobalt rises to 81,750.00 USD as of April 29, 2022 on the international market 5 International Cobalt 

A ton of cobalt rises to 81,750.00 USD as of April 29, 2022 on the international market

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After recording a slight drop of around -20 USD last week on the international market, cobalt is on the rise again and should end the last week of April 2022 on a good flight. As of April 29, 2022, a tonne of cobalt is trading at USD 81,750.00 on the international market compared to USD 81,559.00 per tonne last week, reports the London Stock Exchange. During this week, cobalt recorded a positive price gap of around 191 USD. According to experts, there are no factors that would trigger a significant… Read More Here
Zambia's ZCCM-IH to appoint adviser to restructure Mopani Copper Mines 6 Copper Mining in Zambia 

Zambia’s ZCCM-IH to appoint adviser to restructure Mopani Copper Mines

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Zambia’s state mining investment firm ZCCM-IH is in the process of appointing a financial adviser to restructure Mopani Copper Mines and help find an investor for the copper mine, board chair Dolika Banda said on Friday. The appointment is “imminent”, Banda said, adding that ZCCM should find a new equity partner within the next six months to a year. Zambia’s President Hakainde Hichilema on Monday said the government is “very close” to finding an investor for Mopani. Zambia took on $1.5-billion in debt to buy Mopani from Glencore in January 2021 and has been… Read More Here
Zimbabwe's Mnangagwa confirms Mining Indaba attendance 7 Events & Expos 

Zimbabwe’s Mnangagwa confirms Mining Indaba attendance

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Zimbabwe’s President Emmerson Mnangagwa has been confirmed as an attendee at this year’s Investing in African Mining Indaba to be held in Cape Town from May 9 to 12. He will join other heads of State, including South African President Cyril Ramaphosa, Botswana President Dr Mokgweetsi Eric Keabetswe Masisi, Zambia President Hakainde Hichilema and Democratic Republic of Congo PM Jean-Michel Sama Kukonde Kyenge at the event. “Since assuming the mantle of President in 2017, Mnangagwa has continued to emphasise the importance of mining to the Zimbabwean economy and people and has sought to encourage investment in exploration, mining and refining. “Under his watch, a number of significant mining investments… Read More Here
Caterpillar warns of weaker China demand as lockdowns bite 8 International Equipment & Technology 

Caterpillar warns of weaker China demand as lockdowns bite

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Caterpillar Inc. warned that demand in China will be even weaker than the mining and construction giant previously expected as Covid-19 lockdowns across the nation threatens to undermine economic growth. The company’s first-quarter results Thursday showed China sales and demand slumping, even as other businesses including mining and construction improved. Caterpillar had “strong years” in China in 2020 and 2021 and had previously expected this year to be worse, similar to what it experienced in 2019, Chief Financial Officer Andrew Bonfield said in an interview. “Now our expectations are slightly… Read More Here
Epiroc buys Aussie electrifier 9 Equipment & Technology Mining technology 

Epiroc buys Aussie electrifier

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Perth, Western Australia-based JTMEC specialises in providing electrical infrastructure in mines and is a key player in the industry’s transition to battery electrification. Its offerings include high voltage installation and maintenance work, transformer servicing and testing, feasibility studies, and training. It also manufactures electrical products including substations and mine chargers. Epiroc president and CEO Helena Hedblom believes JTMEC will be a key enable or mine electrification going forward. “Battery electrification represents the future in the mining industry and the strong team at JTMEC is playing and important role in enabling… Read More Here
Glencore hails trading unit outlook, cuts copper guidance 10 Copper International 

Glencore hails trading unit outlook, cuts copper guidance

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Miner and commodities trader Glencore (LON: GLEN) touted on Thursday prospects for its trading unit, saying it faces another strong year as Russia’s invasion of Ukraine continues to drive up prices of most commodities the company mines and sells. Delivering results for the first three months of the year, the Swiss company said earnings from its marketing unit will “comfortably” top the highest end of its guidance range of $2.2 billion to $3.2 billion. That would make it the third straight year the unit has exceeded the range, as first the… Read More Here

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