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Gold price moves higher as safe haven demand stays strong

March 24, 2022March 24, 2022 admin

Gold edged higher on Wednesday as inflation risks and the intensifying Ukraine crisis propped up demand for safe havens, although a firmer dollar and high bonds yields placed a cap on bullion’s gains. Spot gold rose 0.5% to $1,932.09 per ounce by 12:20 p.m. ET, continuing to recover from its worst week since June. US gold futures traded 0.4% higher at $1,930.20 per ounce in New York. “You’re seeing a little bit of safe-haven demand and a little perceived bargain hunting at lower price levels in the gold market,” Jim Wyckoff, senior… Read More Here

Copper Mining in Zambia

Barrick sees scope to grow Zambia copper output

March 24, 2022March 24, 2022 admin

Barrick Gold Corp., the world’s second-biggest producer of the precious metal, sees opportunity to grow its copper production in central Africa, especially with a pro-business government having won power in Zambia last year, Chief Executive Officer Mark Bristow said. The company already operates the Lumwana copper mine in northwestern Zambia. It considered selling that operation in 2019 after receiving interest from potential buyers following its merger with Randgold Resources Ltd. and Bristow’s appointment as CEO earlier that year but never followed through. “The Lumwana copper mine in Zambia has been a real… Read More Here

Copper Mining Companies Mining in Zambia

First Quantum Minerals clarifies reports on KCM and Mopani

March 23, 2022March 23, 2022 admin

First Quantum Minerals has reiterated its commitment to invest further in Zambia’s mining sector, but has clarified that it has no plans to acquire Mopani Copper Mines (MCM) nor Konkola Copper Mines (KCM), contrary to media reports. The company has pledged to support government’s drive towards growing the nation’s copper production, and is working towards investing in its S3 expansion project at Kansanshi mine in Solwezi which will increase production output and prolong the life of mine. In addition, preparatory works are also underway for the company’s Enterprise nickel production… Read More Here

Copper Mining in Zambia

Another accident disrupts Zambia’s Mopani Copper Mines

March 23, 2022March 23, 2022 admin

Zambia’s Mopani Copper Mines on Wednesday reported a second fatal accident in three days at the mine, saying a 35-year-old contractor worker died on Tuesday after falling through the roof of a copper concentrate storage shed. Operations at the smelter concentrate shed where the accident occurred have been suspended until further notice, the company said in a statement. Mopani on Monday said it suspended operations at one of its shafts after an accident on Sunday in which one person was killed. Read More Here

Mining in DRC Events & Expos

Expo Dubai 2020: the DRC remains the best destination for its mining and forestry assets and for its culture (Félix Tshisekedi)

March 23, 2022March 23, 2022 admin

The Democratic Republic of Congo remains the best destination for its mining and forestry assets and for its culture. This was declared by the President of the Republic, Félix Tshisekedi, who opened, on Tuesday March 22, 2022, the day reserved for the DRC at Expo Dubai 2020. It was at midnight Doha time that the President of the Democratic Republic of Congo (DRC), Félix Tshisekedi, arrived with his wife in Dubai. The Congolese Head of State invited the various investors, economic operators and other visitors to explore the opportunities offered by… Read More Here

Copper International

Copper deficit narrows slightly to 475,000 tonnes in 2021

March 23, 2022March 23, 2022 admin

The global refined copper market showed a 92,000 tonne deficit in December, compared with a 123,000 tonne deficit in November, the International Copper Study Group (ICSG) said in a new data release. For the full year, the market reported a deficit of 475,000 tonnes compared with a 484,000 tonne shortfall a year earlier, the ICSG said. World refined copper output in December was 2.11 million tonnes, while consumption was 2.2 million tonnes. Production amounted to 24.5 million tonnes and 25.33 million tonnes of consumption for the year. The ICSG said… Read More Here

Battery Metals Events & Expos Mining in DRC

Dubai Expo 2020: Julien Paluku presents the DRC as best destination in the world for electric battery industry thanks to its strategic minerals

March 23, 2022March 23, 2022 admin

The Democratic Republic of Congo is represented at EXPO 2020 DUBAI by ten members of the Government and fifty economic operators working in all strategic sectors. At the Dubai Chamber of Commerce and Industry, held on Monday, March 21, Congolese representatives presented on the opportunities offered by the DRC in all areas, and this, in front of Emirati investors, interested in the potentialities abounds the DRC. In his speech, Julien Paluku, Minister of Industry, presented the DRC as the best destination in the world for the electric battery industry thanks to… Read More Here

Copper Mining in Zambia

Natasha Kalimukwa takes over as KCM provisional liquidator

March 23, 2022March 23, 2022 admin

Official Receiver Natasha Kalimukwa has taken over the running of the affairs of Konkola Copper Mines following the resignation of Milingo Lungu as provisional Liquidator for KCM. Ms. Kalimukwa has announced the development in a statement issued on Tuesday. She has advised stakeholders to deal with the official receiver in all matters pertaining to Konkola Copper Mines. Mr. Lungu resigned recently from his position as Konkola Copper Mines Plc Provisional Liquidator with immediate effect and did not give any reasons for his resignation. The provisional liquidator of Zambia’s Konkola Copper… Read More Here

Mining in Zambia Emeralds Gemstones

Gemfields emphasizes importance of stepping up efforts to combat illegal trade

March 23, 2022March 23, 2022 admin

An analysis of existing data on the supply of rubies and emeralds, according to gemstone miner Gemfields, reveals the “alarming” extent to which host-mine countries are being robbed of the true value of their coloured gemstone resources. Artisanal mining, both formal and informal, extracts the vast majority of coloured gemstones, according to Gemfields, for which there are few reporting standards. Furthermore, coloured gemstones are frequently sourced from countries with lax reporting regulations. As a result, it emphasizes the importance of stepping up efforts to combat illegal trade. These, and other… Read More Here

Mining in DRC Drilling

Alphamin to publish updated MRE for Mpama South soon

March 23, 2022March 23, 2022 admin

JSE-listed Alphamin Resources Corporation has announced positive drill results from the Mpama South prospect and the Mpama North mine, at its Bisie tin complex, in the Democratic Republic of Congo. Mpama South is a high-grade tin resource adjoining the southern end of Alphamin’s operating Mpama North mine. The company has been drilling at this prospect to expand its mineral resource estimate (MRE), an update for which should be published as soon as end-March or early April. Notable high-grade assay results returned on the Mpama South prospect include 22.7 m, grading 3.12% tin from 391… Read More Here