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ZCCM IH Board Director Bishop Mambo tells Chinese Mining Firm to Start Paying Dividends to Govt

February 17, 2022February 17, 2022 admin

The ZCCM IH Board has learnt that Non Ferrous China Africa Corporation (NFCA) Mining on the Copperbelt has not been paying dividends for eleven years to the Government, which is a share holder in the firm. The Government through ZCCM IH owns shares in NFCA, a Chinese owned mining firm based in Chambishi, Kalulushi District. Dividend is a sum of money paid regularly every year by a company to its shareholders out of its profits or reserves. NFCA Africa Mining Plc was established in March 1998 as the holding company… Read More Here

Mining in Zambia Governance

Mines and Minerals Minister Paul Kabuswe threatens to grab Black Mountain if Caderism shows its head

February 17, 2022February 17, 2022 admin

Mines and Minerals Minister Paul Kabuswe has threatened to shut down operations at the black mountain in Kitwe in an event of confusion or political tension in its operations or should there be any reports of careerism and political interference. Mr. Kabuswe warned that he did not want to see people brandishing guns, party regalia nor expensive vehicles at the black mountain, or he will shut it down. Mr.Kabuswe has said the new dawn Government wants the slug to be run smoothly without any political interference adding that its proceeds… Read More Here

Equipment & Technology International Mining technology

Sandvik to supply major potash project

February 17, 2022February 17, 2022 admin

Sweden-based original equipment manufacturer (OEM) Sandvik Mining and Rock Solutions has won a $215.12 million (SEK 2 billion contract) from BHP to supply equipment to the Jansen Potash project in Saskatchewan, Canada. The company said the contract has followed “several years of close collaboration” with BHP to develop “the underground mining equipment and automation solution.” Sandvik confirmed to Mining Magazine that the order included its borer miner but didn’t detail exact models. The equipment is due to be delivered in the third quarter of 2023 and extend to 2026. Sandvik said an… Read More Here

Gold International

Gold price highest since June as concerns over Ukraine continue

February 17, 2022February 17, 2022 admin

Gold prices rose on Wednesday as concerns over the Russia-Ukraine situation lingered on, and as markets looked forward to minutes from the Federal Reserve’s last policy meeting. Spot gold saw a 0.6% gain to $1,865.72 per ounce by noon ET, its highest since June 2021. US gold futures were also up 0.6%, trading at $1,866.60 an ounce in New York. “Gold is attracting a wide range of investors that are looking for protection as they are realizing that there’s not going to be a quick resolution to this (Russian-Ukraine) situation,”… Read More Here

Mining Companies International

Barrick Gold announces $1bn buyback as quarterly earnings jump

February 17, 2022February 17, 2022 admin

Barrick Gold Corp on Wednesday announced a share buyback of up to $1 billion as the miner’s fourth-quarter results beat analysts’ estimates following strong production at its Nevada mines and a smaller tax take than expected. Barrick’s U.S.-listed shares rose around 5% at the open. Net earnings more than doubled from the previous quarter to $726 million, while adjusted earnings per share were $0.35, beating expectations of $0.30 from analysts who had anticipated a higher fourth quarter tax rate. While costs across Barrick’s copper and gold operations climbed in 2021 and… Read More Here

Mining in DRC Cobalt Copper Gold

Market: copper at 9,825 USD per tonne, cobalt at 74,970 USD per tonne

February 16, 2022February 16, 2022 admin

On the market for the main mining export products of the DRC, for the week from February 14 to 19, 2022, the price trend is mainly upward and stable, according to projections by experts from the National Mercurial Commission. of the Ministry of Foreign Trade. Copper is trading this week at 9.825 USD per ton against 9.764 USD per ton last week, a positive price difference of 614 USD. The other mineral that is up this week is tin. It is sold this week on the international market at 43,377 USD… Read More Here

Mining in DRC

DRC: Congolese expertise increasingly proven in environmental studies, says OEMS CEO

February 16, 2022February 16, 2022 admin

The Democratic Republic of Congo (DRC) is not short of experts in environmental impact studies. In the past, this area was reserved only for foreigners, but for some time the Congolese have been successfully tackling it. During a press conference on Monday February 14, 2022, the Office of Environment and Mining Studies (OEMS) research firm supported its argument with supporting examples to demonstrate this proven experience. For the organizers, this conference should also make it possible to put an end to the gossip that leagues against Congolese expertise in environmental… Read More Here

Mining in DRC Lithium Tin

AVZ Minerals completes US$240 million cornerstone investment

February 16, 2022February 16, 2022 admin

ASX-listed AVZ Minerals on Wednesday reached an agreement with private investment firm Suzhou CATH Energy Technologies over a $240-million investment into the Manono lithium and tin project, in the Democratic Republic of the Congo (DRC). The two companies in September last year struck a deal under which CATH will earn a 24% equity interest in a multi-faceted joint venture to develop the Manono project for a $240-million cash payment, and a further amount to fund its pro-rata portion of funding to develop the project. AVZ Minerals said on Wednesday that the parties have now agreed to… Read More Here

Copper Economy Mining in Zambia

Small Scale Miners looking forward to the resumption of operations at the Black Mountains- Zambia

February 16, 2022February 16, 2022 admin

The Small Scale Miners Association of Zambia has hailed the Government’s decision to hand over a portion of the Kitwe Mineral Slag Dump commonly known as Black Mountain to cooperatives owned by the local youth and women. President Hakainde Hichilema on Sunday night announced on Facebook the handover of the Kitwe Black Mountain to a Consortium of cooperatives representing all the 10 districts of the Copperbelt province, the Women in mining group, and the Community hosting the black mountain. The Black Mountain located between Wusakile and Nkana West is owned… Read More Here

Battery Metals Lithium

Lithium battery manufacturers race to develop low-emission heavy equipment for mining

February 15, 2022February 15, 2022 admin

The mining industry globally is expanding, which makes getting to net zero emissions in the next decade unlikely at best. But one small company in Newcastle is hoping to make a difference by developing big battery systems for heavy equipment. Heavy vehicle battery manufacturer 3ME says the appetite for a low-emissions mining industry is high. The fledgling company, which started with just three staff in 2018 and has 55 today, is looking to grow with recent investments and federal grants combining to nearly $25 million. The company produces a lithium-ion battery system, made up of a series of… Read More Here