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China Moly wants third party to resolve Congo mine dispute

March 31, 2022March 31, 2022 admin

China Molybdenum Co. endorsed the involvement of an independent third-party to resolve its dispute with Democratic Republic of Congo over new royalty payments for its massive Tenke copper and cobalt mine, according to a statement posted on the company’s website Wednesday. Congo announced Tuesday that state-owned miner Gecamines would suspend its court case against China Moly’s Tenke Fungurume Mining SA while the two sides try to negotiate a deal. Last month, a Congolese court appointed a temporary administrator to run the mine after Gecamines accused China Moly of refusing to share technical information about… Read More Here

Gold International

Gold price up on doubts over Ukraine ceasefire

March 31, 2022March 31, 2022 admin

Gold prices rebounded on Wednesday amid doubts over the possibility of a ceasefire between Russia and Ukraine. A retreat in dollar also helped to bolster the precious metal’s appeal. Spot gold rose 0.7% to $1,933.31 per ounce by 12:40 p.m. ET, returning to levels seen earlier in the week. US gold futures gained 1.0% to trade at $1,937.80 per ounce. Meanwhile, the US dollar fell 0.5% to nearly a two-week low, making gold less expensive for other currency holders. “Also helping gold is this Russian situation, which seemed to be… Read More Here

Mining in DRC Copper

World: the price of a tonne of copper increases slightly to 10,247 USD

March 31, 2022March 31, 2022 admin

Copper, one of the main mining products exported in the Democratic Republic of Congo (DRC), observes an upward trend on the international market for the week from March 28 to April 1, 2022. According to the analyzes of the experts of the National Commission of Mercurials of the Ministry of Foreign Trade, this product should sell at 10,247 USD this week against 10,017.80 USD per ton last week. Thus, the ton of copper should record a positive price difference of around 229.7 USD on the international market during the period… Read More Here

Cobalt Copper Mining in DRC

Congo halts court case against China Moly’s Tenke mine

March 30, 2022March 30, 2022 admin

Congo’s state miner Gecamines has halted its court case against China Molybdenum, which last month was stripped of control of its giant copper and cobalt Tenke Fungurume mine in the country, as officials seeks a solution to a dispute between the companies. The Congolese government announced in August it had formed a commission to reassess the reserves and resources at the mine to “fairly lay claim to (its) rights”. Several Gecamines officials were appointed to the commission as the DRC claims it is owed billions of dollars. In February, a local court named… Read More Here

Mining in DRC Governance

World: mining governance in the DRC is the weakest of all the countries in the world

March 30, 2022March 30, 2022 admin

Although it has significant reserves of raw materials in the world, the Democratic Republic of Congo is failing through its governance in this sector, observers from the NGO Natural Resource Governance Institute (NRGI) report in a report published recently. According to the 2021 Natural Resource Governance Index, the governance of the mining industry in 7 out of 13 countries is “ weak ” or “ insufficient ”. Mining governance in the Democratic Republic of Congo is the weakest of all countries. This governance, presented as the weakest of all, keeps local communities in the… Read More Here

Mining Supply Tenders Mining in Zambia

Tender for the Supply of 5-10tph Jaw Crusher & 5-10tph Ball Mills | Zambia

March 30, 2022March 30, 2022 admin

Announcement Date: 20 March 2022Tender Description: Tender for the Supply Delivery of 5-10tph Jaw Crusher, 5-10tph Ball Mills and Sluice Boxes Deadline: 29 April 2022 Visit us on AfricanTenderprenuer to access full tender details …. Read More Here

Cobalt Copper Gold Mining in DRC

Market: copper still up at USD 10,247 per tonne, cobalt down at USD 81,619 per tonne

March 30, 2022March 30, 2022 admin

The general trend in commodity prices on the international market is between rise and fall for the main mining export products of the Democratic Republic of Congo, informs the National Mercurial Commission of the Ministry of Foreign Trade. Copper remains up this week at 10,247 USD per tonne against 10,017 USD per tonne last week, a positive price difference of 229.7 USD. Zinc is also up this week at 3,902 USD per tonne against 3,833 USD per tonne last week, giving a positive price difference of 69.2 USD. The other… Read More Here

Mining in DRC New Mining Projects Tin

Alphamin to proceed with Mpama South mine development

March 30, 2022April 4, 2022 admin

Tin miner Alphamin Resources on March 29 said it had taken the decision to proceed with the development of the Mpama South mine and processing plant in the Democratic Republic of Congo. Alphamin is targeting first tin production at Mpama South by December 2023. The mine is estimated to produce contained tin of 7 232 t/y at an estimated all-in sustaining cost of $15 188 /t. The mine is expected to deliver earnings before interest, taxes, depreciation and amortisation of about $187-million a year at an assumed tin price of $40 000/t. Alphamin… Read More Here

Mining technology Equipment & Technology International

Metso Outotec launches digital twin

March 30, 2022March 30, 2022 admin

Metso Outotec has launched Geminex, a digital twin which manages variability in mining and metallurgical operations. Geminex simulates and optimises operations in mineral processes by coming operational data from both internal and external data sources. The technology can also be used by pyro- and hydrometallurgical processes, Metso said. The Geminex technology uses HSC process models, which have already been implemented in hundreds of minerals flowsheet development processes, Metso Outotec said. Metso Outotec said the technology minimises carbon footprint, maximises efficient use of resources, simulates the process without environmental or financial… Read More Here

Cobalt Mining in DRC

World: in 2020, four mines located in the DRC produced nearly 41% of the world’s cobalt

March 30, 2022March 30, 2022 admin

Four mining companies based in the Democratic Republic of Congo produced nearly 41% of the cobalt stock produced worldwide, according to a report by the NGO Natural Resource Governance Institute (NRGI). These companies include Kamoto, Tenke Fungurume, Metalkol RTR and Etoile operating in a market that concerns relatively few countries and companies. According to this report, this concentration entails significant geopolitical and investment risks for the Governments of the countries consuming and producing cobalt, as well as for companies in the supply chain. To date, the cobalt market is dominated… Read More Here