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Metso Outotec wins India pellet plant order

April 1, 2022April 1, 2022 admin

Finnish mining equipment maker Metso Outotec has secured another order in India for an iron ore grate kiln pellet plant, this time for a plant operated by Jindal Steel Odisha in the east of the country. Metso Outotec said the plant is located in the industrial city of Angul, in eastern India. The value of the order is €30 million (US$33 million), and it has been booked in Metals’ Q1/2022 orders received. Metso Outotec’s scope of delivery consists of engineering and the supply of major equipment, including the traveling grate,… Read More Here

Cobalt Mining in DRC

World: slightly up, a tonne of cobalt is trading at 81,840 USD as of March 31, 2022

April 1, 2022April 1, 2022 admin

As of March 31, 2022, a tonne of cobalt recorded a slight price increase on the international market. According to the London Metal Exchange (LME), which is the global industrial center for metals trading, a tonne of cobalt is trading at 81,840.00 US dollars at the end of March 2022 against 81,690.00 USD last week.Thus, cobalt recorded a positive price gap of around USD 150 during this period. In the Democratic Republic of Congo (DRC), projections by experts from the National Commission on Mercurial Prices of the Ministry of Foreign… Read More Here

Battery Metals Mining in DRC

The DRC Battery Council: Building the sustainable battery supply chain of tomorrow

April 1, 2022April 1, 2022 admin

“The country’s mining sector currently accounts for 98% of exports, 18% of GDP and 11% of jobs. If the DRC captures 20% of the market share for battery production, it will add around US$54 billion to its income and raise its GDP tremendously,” says UN Under-Secretary-General Vera Songwe. Africa is a resource-rich continent, home to some 30% of the world’s known mineral reserves, including 40% of known gold and up to 90% of chromium and platinum reserves. For centuries, this mineral wealth has been extracted by foreign nations or companies… Read More Here

Copper Cobalt Mining Companies Mining in DRC

DRC: Gécamines has suspended its legal action against China Molybdenum

April 1, 2022April 1, 2022 admin

Congolese state mining company Gécamines has suspended its legal action against China Molybdenum, which was stripped of control of its giant Tenke Fungurume copper and cobalt mine in the country last month, as authorities seek a solution to a dispute between the companies. The Congolese government announced in August that it had formed a commission to re-evaluate the mine’s reserves and resources in order to “fairly claim (its) rights”. Several Gécamines officials have been named to the commission as the DRC claims it owes it billions of dollars. In February, a… Read More Here

Gold

West Kenya Project Resource Increases to 1.55 Moz Gold including 221% Increase in Indicated Ounces

March 31, 2022March 31, 2022 admin

Shanta Gold (AIM: SHG), the East Africa-focused gold producer, developer and explorer, is pleased to announce an upgraded mineral resource estimate for the West Kenya Project (“West Kenya”) in Kenya to 1.55 Moz gold, including a 221% increase in Indicated Resource to 378 koz gold grading 11.70 g/t. Highlights in 2021: · Total resources at Isulu, Bushiangala, and Ramula deposits increase by 31% to 1.55 Moz; · Resources of 1.12 Moz grading 10.80 g/t at Isulu and Bushiangala, of which 34% have been upgraded to Indicated category up from Nil at the… Read More Here

Mining Companies

Tharisa acquires Karo platinum project in Zimbabwe

March 31, 2022March 31, 2022 admin

Platinum producer Tharisa Plc has acquired a controlling stake in a platinum group metals (PGMs) project in Zimbabwe which will eventually double its output, it said on Thursday. Tharisa exercised an option to increase its stake in Karo Mining Holdings Limited from 26.8% to 66.3% in an all-share deal valued at $27 million. The Karo project, expected to start producing in two years, will produce 150,000 ounces a year of PGMs in concentrate in its first phase, the company said. Prices of PGMs including platinum and palladium have surged since Russia’s invasion… Read More Here

International Iron Ore

Billionaire Friedland secures rail deal to tap Guinea iron ore

March 31, 2022March 31, 2022 admin

A mining company controlled by billionaire Robert Friedland has secured access to a Liberian railway that opens the way for it to tap vast iron ore reserves in neighboring Guinea.The deal with the Liberian government provides High Power Exploration Inc. with an outlet for its Nimba concession, which holds an estimated 1 billion tons of high-grade iron ore. The miner expects to start work by 2024 on a rail link that will connect with a line running to Liberia’s Buchanan port. “The rail is critical for us to be able… Read More Here

Copper International

Copper price down on China demand concerns

March 31, 2022March 31, 2022 admin

Copper prices dipped on Thursday hit by concerns over demand in China, which is grappling with the worst resurgence of covid-19 cases since early 2020. Copper for delivery in May fell 0.4% from Wednesday’s settlement price, touching $4.732 per pound ($10,410 per tonne). The most-traded May copper contract on the Shanghai Futures Exchange was down 0.4% at 73,360 yuan ($11,552.57) a tonne. China’s factory activity contracted in March as the economy faced renewed downward pressures from stringent covid-19 controls. The country’s pledges to shore up its embattled property sector have done little to… Read More Here

Copper Cobalt Mining in DRC

China Molybdenum Hails Progress in African Mine Dispute

March 31, 2022March 31, 2022 admin

China Molybdenum said “significant progress” had been made on a dispute over the Tenke Fungurume copper and cobalt mine in the Democratic Republic of Congo (DRC). The dispute between China Moly and the Central African nation’s state mining company Gecamines started in August last year when the government formed a commission to reassess reserves and resources at the mine to “fairly lay claims to their rights”. China Moly holds an 80% stake in the mine, while Gecamines holds the remainder. A spokesman for the Congo government, Patrick Muyaya Katembwe, said… Read More Here

Copper Energy Mining in Zambia

Green energy transition presents ‘unparalleled’ opportunity for Zambia

March 31, 2022March 31, 2022 admin

The green energy transition presents an “unparalleled” opportunity for Zambia, but for it to work, the mining sector needs a fair, predictable and stable regulatory framework, law firm Herbert Smith Freehills partner and Africa co-chair Peter Leon said during an address at the Chatham House Conference, in Lusaka, Zambia, on March 30. The administration of President Hakainde Hichilema has previously stated its intention to increase the country’s copper production from about 800 000 t/y to about three-million tons a year within the next decade to meet the surge in demand for materials that enable the green energy transition. Mining is currently Zambia’s dominant industry, accounting… Read More Here