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Market: improvement in the main mining export products of the DRC during this week from March 7 to 12 1 Uncategorized 

Market: improvement in the main mining export products of the DRC during this week from March 7 to 12

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With the exception of copper, all other export products from the Democratic Republic of the Congo are on the rise this week from March 7 to 12, 2022, according to projections by experts from the Commission Nationale des Mercuriales, structures of the Ministry of Commerce. outside. Cobalt is trending higher this week and is trading at USD 75,521.25 per tonne versus USD 75,300.75 per tonne last week, a positive price differential of USD 220.5. Zinc is also up at 3,735.20 USD per tonne against 3,625.95 USD per tonne, giving a… Read More Here
DRC: for Adolphe Muzito, the cobalt mine agreement with China was an "injustice", the country got nothing 2 Mining in DRC Cobalt 

DRC: for Adolphe Muzito, the cobalt mine agreement with China was an “injustice”, the country got nothing

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The former Prime Minister and Executive of the Lamuka Coalition, Adolphe Muzito, spoke about the contract signed between the Congolese government and Sicomines. For him, the Congolese feel aggrieved by the mega-mineral infrastructure deals involving cobalt – a key component of electric vehicle batteries through Sicomines’ $6 billion deal with Chinese companies, and the alleged under-reporting by China Moly of reserves at the giant Tenke mine. Indeed, while a good part of the world’s countries use the Democratic Republic of Congo to electrify their cars thanks to the supply of… Read More Here
Copper soars to record as metals surge on Russia supply fears 3 Copper International 

Copper soars to record as metals surge on Russia supply fears

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Metals are breaking new records with copper spiking to an all-time high and nickel surging more than 16%, as soaring energy prices and fears of supply shocks rattled commodities markets amid war in Ukraine. The White House said it’s talking to allies about a possible oil embargo on Russia, triggering a spike in oil prices and ratcheting up geopolitical risks after its attack on its smaller neighbor. Higher energy prices mean steeper costs for manufacturers including metals smelters, adding to supply threats as commodity traders grapple with sanctions on Moscow. Copper, used in power cables and wiring, rallied as… Read More Here
Gold rises above $2 000 as Ukraine war boosts haven demand 4 Gold International 

Gold rises above $2 000 as Ukraine war boosts haven demand

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Gold prices on Monday scaled the $2 000-level for the first time in a year-and-a-half, as investors rushed to the safety of the metal in the wake of an escalating Russia-Ukraine crisis, while supply disruption fears sent palladium to an all-time high. Spot gold was up 0.9% at $1 986.83 per ounce, as of 03:30 GMT, after scaling to its highest since August 19, 2020 at $2 000.69 earlier in the day. US gold futures rose 1.3% to $1 992.00. “If this was risk aversion driven by the US Federal Reserve as seen ahead of this war, that wasn’t… Read More Here
African Energy Metals to acquire Whiskey Cobalt Mining’s stake in Manono project 5 Cobalt Mining in DRC 

African Energy Metals to acquire Whiskey Cobalt Mining’s stake in Manono project

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TSX-V-listed African Energy Metals has acquired Whiskey Cobalt Mining’s (WCM’s) interest in the Manono tin, tantalum and lithium project, in the prolific Manono area in the Tanganyika province of south-east Democratic Republic of Congo. The disposal by WCM of the project, comprising an exploitation permit covering about 30 km2, will involve WCM assigning African Energy Metals an exclusive option agreement with Liberty Mining and Investments to enter both parties into a 50:50 joint venture on the project. The Manono concession is about 90 km northeast of Manono in Kiambi, and… Read More Here
Gold Set for Weekly Gain as Attacks on Ukraine Lift Haven Demand 6 Gold International 

Gold Set for Weekly Gain as Attacks on Ukraine Lift Haven Demand

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Gold headed for a weekly advance, lifted by demand for haven assets as Russia escalated its assault on Ukraine. Prices eased after spiking earlier on news that Russia attacked Europe’s largest nuclear power plant, raising concerns over the safety of the facility in Ukraine. Investors are weighing the economic fallout from Russia’s invasion of its neighbor, which is disrupting flows of energy, grains and metals. The resulting surge in oil prices has stoked concerns about global growth and inflation risks. Investors have sought out bullion as a store of value amid the… Read More Here
Can African gas replace Russian supplies to Europe? 7 International Oil & Gas 

Can African gas replace Russian supplies to Europe?

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 On February 22, German Chancellor Olaf Scholz announced during a news conference that the European superpower was halting approval of Russia-owned Nord Stream 2 after President Vladimir Putin officially sent troops into eastern Ukraine. An $11bn gas pipeline project owned by Moscow-backed energy company Gazprom, runs from western Siberia to Germany. The project was built to ensure a sustainable energy distribution across the European Union, especially as gas prices reached record highs in Europe – which gets more than a third of its natural gas from Russia. As the conflict continues in… Read More Here
Higher prices, budget strains to hit Africa from war in Ukraine 8 Oil & Gas 

Higher prices, budget strains to hit Africa from war in Ukraine

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Russia’s invasion of Ukraine is likely to hurt Africa’s coronavirus-ravaged and fragile economies through fiscal constraints, weaker investment flows and higher commodity costs. The most pronounced challenge will be the surge in prices, particularly of oil and wheat, as these will have implications for inflation, current-account and budget balances, said Yvonne Mhango, Renaissance Capital’s head of research for the continent. Crude has surged by more than a fifth since the start of the war to a 2008 high of almost $120. Wheat prices extended their meteoric rally, soaring 50% in the past… Read More Here
André Wameso: "with the Ventora agreement, oil blocks and mining assets valued at more than 2 billion dollars need to be recovered- DRC 9 Mining in DRC Oil & Gas 

André Wameso: “with the Ventora agreement, oil blocks and mining assets valued at more than 2 billion dollars need to be recovered- DRC

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The Democratic Republic of Congo will imperatively have recovered oil blocks and mining assets valued at more than 2 billion dollars from the Ventora group of the Israeli businessman Dan Gertler. This was indicated by André Wameso, Vice-President of the Commission which negotiated the Ventora agreement. It was during the press conference organized on Thursday March 3, 2022 by the Minister of Communication and Media, Patrick Muyaya, accompanied by his colleague from Justice, Rose Mutombo. According to André Wameso, this historic agreement signed on Thursday, February 24, 2022 between Kinshasa and… Read More Here
Africa: Dangote Cement recorded profits of USD 890 million in 2021 10 Cement 

Africa: Dangote Cement recorded profits of USD 890 million in 2021

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At the end of the financial year 2021, Dangote Cement Plc, the cement group owned by Nigerian billionaire Aliko Dangote, recorded profits of around 890 million US dollars. This company of Aliko Dangote is established in 10 countries on the African continent. These figures achieved in 2021 compared to 2020 represent an increase of 32%, a performance supported by the good orientation of the Group’s commercial activity. According to data provided by this company, the company’s sales increased by 14% to 29.3 million tonnes of cement at the end of… Read More Here

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