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CKM NEWSLETTER 28-10-2024

October 28, 2024October 28, 2024 admin

The DRC & ZMB’s Top Mining News Platform Mining Stories to Kick Start Your Week The Ministry of Mines and Minerals Development, and the Zambia Chamber of Mines have expressed their support for the Geological and Minerals Development Bill 2024… The Government of Zambia, through the Ministry of Mines and Minerals Development, and the Zambia Chamber of Mines have expressed their support for the Geological and Minerals Development Bill 2024. This announcement follows a… Read More Here

Battery Metals International

Tesla held talks over buying stake in Glencore – report

October 31, 2022October 31, 2022 admin

Electric vehicles giant Tesla (NASDAQ: TSLA) considered taking a stake in Glencore (LON: GLEN) and held talks with the miner and commodities trader, the Financial Times reported. Citing unnamed sources familiar with the matter, FT said Tesla discussed buying 10% to 20% of Glencore last year and continued negotiations in March this year, when the Swiss firm’s chief executive Gary Nagle visited the carmaker’s factory in Fremont, California. Talks concluded without an agreement due to Tesla’s concerns about Glencore’s coal mining business and its impact on the environment, the two sources told… Read More Here

Copper Mining in DRC

copper remains around 7,600 USD per tonne

October 31, 2022November 2, 2022 admin

Among the mining products exported from the Democratic Republic of the Congo, the general trend is between rising and falling prices on the international market in this week from October 31 to November 5, 2022, inform the projections of the National Mercurial Commission of the Ministry of Foreign Trade. Regarding copper, it is trading this week around 7,617.25 USD per ton against 7,603.15 USD per ton last week, an increase of 14.1 USD. The only other product on the rise is zinc, which is trading this week at 2,967.95 USD… Read More Here

Gold International

Gold price drops over 1% as another Fed rate hike looms

October 28, 2022October 28, 2022 admin

Gold fell more than 1% on Friday as the US dollar rose, giving up gains from bets for a slowdown in monetary tightening by the Federal Reserve later in the year as the immediate focus turned to an impending rate hike next week. Spot gold was down 1.3% to $1,641.48 per ounce by 11:55 a.m. ET, on its way to another weekly loss. US gold futures also fell 1.3% to $1,644.00 per ounce in New York. Meanwhile, the US dollar index edged higher by 0.2%, eroding the appeal of rival… Read More Here

Mining Companies

Tharisa issues $50m bond for Zimbabwe platinum mine build

October 28, 2022October 28, 2022 admin

Tharisa Plc has issued a $50 million bond as it moves to raise $391 million to build a 194,000-ounce per year platinum group metal (PGM) mine in Zimbabwe, the platinum producer said on Friday. Tharisa, a co-producer of chrome concentrates and PGMs in South Africa, owns 70% of Karo Mining Holdings, developer of the Karo PGM project on Zimbabwe’s Great Dyke, about 100 kilometers south-west of the capital Harare. The bond, which is not rated, is the first issued on Zimbabwe’s Victoria Falls Stock Exchange and will be guaranteed by… Read More Here

Diamond Mining in DRC

DRC: 12,923 carats of diamonds produced at the end of August 2022

October 28, 2022October 28, 2022 admin

The mining industry in the Democratic Republic of Congo (DRC) produced around 12,923 carats of diamonds in the first eight months of 2022. These statistical data are provided by the Central Bank of Congo (BCC) in its Summary of statistical information published in October 2022. According to this report, diamond production during this year is down compared to the year 2021 when production stood at 35,727 carats. Artisanal diamond production in the DRC continues to take over industrial production with a production volume of around 7,322 carats in August 2022… Read More Here

Gold Mining in DRC

DRC: at the end of August 2022, mining industries produced 10,386 kg of raw gold

October 28, 2022October 28, 2022 admin

The mining industries of the Democratic Republic of Congo (DRC) achieved a production of around 10,386 kilograms of raw gold at the end of August 2022. These statistics are revealed in the Condensed statistical information of the Central Bank of Congo (BCC) published this month of October 2022. This production of raw gold has decreased significantly, informs this report without mentioning the reasons underlying this drop in production. During the same period in 2021, the mining industries of the Democratic Republic of Congo (DRC) had achieved a production of raw… Read More Here

Copper Cobalt Mining in DRC

In eight months, Gécamines produced 15,104 tonnes of cobalt and 2,217 tonnes of copper-DRC

October 28, 2022October 28, 2022 admin

General of careers and mines (Gécamines) produced 15,104 tonnes of cobalt and 2.217 tonnes of copper during the first eight months of 2022. This is indicated by the official statistical data published by the Central Bank of Congo (BCC) in its Summary of statistical information for the month of October 2022. According to the Central Bank of Congo, Gécamines records an increase in production in 2022 compared to the same period in 2021 when annual cumulative production was around 1,568 tonnes for copper and 11,199 tonnes of cobalt. This document… Read More Here

Mining Companies Mining in DRC

Mark Bristow: “Kibali’s investment in the DRC has grown from 2.5 to 4.2 billion USD in 11 years”

October 28, 2022October 28, 2022 admin

Kibali’s investment in the Democratic Republic of Congo has reached 4.2 billion USD in eleven (11) years of mining. This was announced by the President and CEO of Barrick, Mark Bristow, on October 27, 2022, during a press conference organized in Kinshasa. Of these 4.2 billion USD, 2.20 billion USD were used for payments for companies and suppliers. The part of royalties and taxes required 1.16 billion USD while 193.3 million USD were allocated to infrastructure and support for community projects. A total of 840 million USD was directed to wages. This… Read More Here