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Zimbabwe mines see $10bn funding shortfall over five years 1 Uncategorized 

Zimbabwe mines see $10bn funding shortfall over five years

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Zimbabwe’s mining industry sees a funding shortfall of $10-billion over the next five years, a challenge compounded by erratic power supplies and exchange-rate volatility. While Zimbabwe has the world’s third-biggest reserves of platinum-group metals, plus gold, diamond and chrome mines, development has been stymied by political instability, economic collapse and rules that deter foreign investment. While mining is projected to generate earnings of $5.5-billion this year, it faces a number of headwinds, the country’s Chamber of Mines said in its latest commodity outlook report. Last year, the Zimbabwe announced rules… Read More Here
Zambia’s copper potential coming to fore again as Castillo survey shows upside 2 Copper Mining in Zambia 

Zambia’s copper potential coming to fore again as Castillo survey shows upside

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London- and Sydney-listed base metal explorer Castillo Copper has identified multiple copper-potential drill-testing targets at its Mkushi project in Zambia, Africa’s second-largest copper producer. Castillo stated in a release to Mining Weekly on Tuesday that the formulation of a drilling campaign would be the next step towards further developing Mkushi, one of Castillo’s four projects that cover about 1 100 km2 in Zambia’s renowned copperbelt. The other three are Luanshya, Lumwana North and South and Mwansa. With multiple primary test-drilling targets having boosted the exploration potential of Mkushi and Luanshya materially, the Castillo… Read More Here
World: up this week, the tonne of cobalt goes from 81,619.00 USD to 82,067.00 USD 3 Cobalt Mining in DRC 

World: up this week, the tonne of cobalt goes from 81,619.00 USD to 82,067.00 USD

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The general trend in the prices of mining products exported from the Democratic Republic of Congo (DRC) on the international market is upward during the week from April 4 to 9, 2022. This is what the experts of the National Commission of Mercurial Prices of the Ministry of Foreign Trade have informed, who assess the evolution of the prices of mining and agricultural products exported from the DRC. In a very good dynamic for several months already, cobalt should record a price increase on the international market this week. This product… Read More Here
Liebherr revenue grows despite challenging 2021 4 Equipment & Technology Mining technology 

Liebherr revenue grows despite challenging 2021

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Switzerland-based equipment manager Liebherr has recorded a 12% increase in turnover for 2021, increasing by EUR 1.3 billion to EUR 11.64 billion. Despite supply chain challenges, the group grew in 11 of its 13 product segments, and in nearly all its sales regions. Net profit amounted to EUR 545 million. Total revenues grew by 3.9% to EUR 3.64 billion, Liebherr said. Significant increases in the earthmoving, material handling technology, deep foundation machines, mobile and crawler cranes, tower cranes, concrete technology and mining product segments were 17% higher than in 2020,… Read More Here
Copper price up despite China demand concerns 5 Copper International 

Copper price up despite China demand concerns

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The copper price rose on Monday despite lingering demand concerns in top consumer China. Copper for delivery in May rose 2.3% from Friday’s settlement price, touching $4.790 per pound ($10,538 per tonne). Trading was sluggish as Chinese financial markets were closed for a public holiday, but traders kept a wary eye on the country’s covid-19 lockdowns and their impact on economic output and overall demand. “The lockdown in China “has already led to a slowdown in the domestic movement of base metals, (and) as a result, production cuts at metal… Read More Here
Gold price advances on rising Russia-Ukraine tensions 6 International Gold 

Gold price advances on rising Russia-Ukraine tensions

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Gold rose on Monday as the prospect of further sanctions on Russia over its invasion of Ukraine bolstered the metal’s safe-haven appeal, though a stronger dollar and rising US bond yields capped bullion’s gains. Spot gold was up 1.2% to $1,933.33 per ounce by 12:15 p.m. ET, while US gold futures advanced 0.7% to $1,936.90 in New York. Global outrage spread on Monday over the killings of civilians in northern Ukraine and looked set to galvanize the West into leveling additional sanctions against Moscow, which could possibly include Russia’s energy… Read More Here
Gemfields achieves record revenue for sold out March/April auction 7 Emeralds Mining in Zambia 

Gemfields achieves record revenue for sold out March/April auction

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Gemfields recorded a record $42.3-million in revenue from the sale of emeralds sourced from its Zambia-based Kagem mine, at auctions of predominantly commercial-quality rough emeralds held in Jaipur, India, from March 15 to April 1. Of the 32 lots offered – 4.52-million carats in total – all were 100% sold out. Fifty-six companies placed bids and an average price of $9.37/ct was achieved – another record for Kagem’s commercial-quality auctions. Forty such auctions of Kagem-sourced gemstones (emeralds and beryl) hosted by Gemfields since July 2009 have generated $792-million in revenue. Gemfields notes that the proceeds of… Read More Here
DRC: CES President Jean-Pierre Kiwakana calls on government to implement the project to create electric battery manufacturing plants at local level 8 Battery Metals Mining in DRC 

DRC: CES President Jean-Pierre Kiwakana calls on government to implement the project to create electric battery manufacturing plants at local level

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The Economic and Social Council (CES) proceeded on Friday, April 1st at the People’s Palace to the solemn opening of its April session. On this occasion, the president of this institution of the Republic Jean-Pierre Kiwakana reviewed all the major challenges facing the country before proposing ways of solution.  Speaking of the DRC, which is increasingly positioning itself as a “solution country” in the ecological and energy transition and which rightly gives itself the ambition of being the world leader in the production of electric batteries and, therefore, a major player… Read More Here
Market: the main mining products continue to improve on the market this week, zinc at more than 42,600 USD per tonne 9 Mining in DRC Coltan Copper Tin Zinc 

Market: the main mining products continue to improve on the market this week, zinc at more than 42,600 USD per tonne

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This week from April 4 to 9, 2022, the main mining export products of the DRC remain in good shape, according to projections by experts from the National Mercurial Commission of the Ministry of Foreign Trade. Copper still on the rise at 10,332 USD per tonne against 10,247 USD per tonne last week, resulting in a price difference of 85.45 USD. Cobalt is also up this week at 82,067 USD per tonne against 81,619 USD per tonne last week, a price difference of 448 USD. Zinc is also trading higher… Read More Here
Nicolas Kazadi: "With the current price increase, oil subsidies could reach 400 million USD this year" 10 Mining in DRC Oil & Gas 

Nicolas Kazadi: “With the current price increase, oil subsidies could reach 400 million USD this year”

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The repercussions of the Russian-Ukrainian crisis are hitting the Hydrocarbons sector hard in the world. Insofar as the Democratic Republic of Congo exports all of its oil, it goes without saying that the fixing of the price per liter at the pump depends on the evolution of the Average Commercial Border Price (PMFC). Thus, the Congolese State has always intervened by means of subsidies to ensure a price structure for petroleum products that preserves the purchasing power of consumers to any extent. In front of the national deputies gathered in… Read More Here

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