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Zambian government investigate Argonaut’s Lumwana West license 1 Mining in Zambia Copper 

Zambian government investigate Argonaut’s Lumwana West license

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Argonaut Resources has advised relevant Zambian Government authorities are investigating the purported cancellation of exploration licence 22399-HQ-LEL, Lumwana West following in person representations by Argonaut. Lindsay Owler, Director and CEO commented: “Our circumstance has arisen at a time when the newly elected Government is working hard to restore investor confidence in the Zambian mining sector. “Our matter also coincides with the announcement that Zambia aims to increase its copper production to 3 tpa within 10 years, an outcome that can only be achieved if several of new copper mines are… Read More Here
Gold pushes above $1 900 as Ukraine crisis spurs haven demand 2 Gold International 

Gold pushes above $1 900 as Ukraine crisis spurs haven demand

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Gold advanced to an eight-month high above $1 900/oz as the prolonged standoff over Ukraine stoked demand for havens. The US ramped up warnings of a possible Russian attack, with President Joe Biden saying a “false-flag” event may be under way. Moscow said no invasion was planned, but given proposed US security assurances were unsatisfactory, Russia might have to resort to “military-technical measures.” Gold has made a strong start to the year, surging to the highest since June, as the possibility of a conflict in Europe buoyed prices. The commodity is set for a third weekly gain even as… Read More Here
Asante reports ‘significant interest’ in $100m raise for Bibiani 3 Gold International Mining Companies 

Asante reports ‘significant interest’ in $100m raise for Bibiani

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Exploration and development company Asante Gold has received “significant investor interest” in a private placement of common shares to raise up to $100-million at C$1.75 a share. Emiral Resources, which currently holds 19.6% of the company’s outstanding common shares, has indicated that it intends to participate in the offering at a level sufficient to maintain its current percentage shareholding. Funds will be used for working capital, including the payment of the second $30-million payment to Resolute Mining for the Bibiani mine acquisition, initial mine development costs at the Bibiani mine,… Read More Here
Sandvik trials largest capacity electric truck 4 Equipment & Technology International Mining technology 

Sandvik trials largest capacity electric truck

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Sweden-based original equipment manufacturer (OEM) Sandvik has unveiled a prototype of the Sandvik TH665B, the world’s largest capacity battery-electric truck for underground miners. The company said the truck has a payload capacity of 65-tonnes and is currently completing factory testing in California, US. Finalisation of the trial agreement with Barminco and AngloGold Ashanti Australia will see the truck trialled at the Sunrise Dam gold mine to “prove its viability in a long ramp application.” Commercial production of the Sandvik is expected to begin in late-2023. The company said the unveiling… Read More Here
ZCCM IH Board Director Bishop Mambo tells Chinese Mining Firm to Start Paying Dividends to Govt 5 Mining in Zambia Copper Mining Companies 

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

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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
Mines and Minerals Minister Paul Kabuswe threatens to grab Black Mountain if Caderism shows its head 6 Mining in Zambia Governance 

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

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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
Sandvik to supply major potash project 7 Equipment & Technology International Mining technology 

Sandvik to supply major potash project

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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 price highest since June as concerns over Ukraine continue 8 Gold International 

Gold price highest since June as concerns over Ukraine continue

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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
Barrick Gold announces $1bn buyback as quarterly earnings jump 9 Mining Companies International 

Barrick Gold announces $1bn buyback as quarterly earnings jump

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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
Market: copper at 9,825 USD per tonne, cobalt at 74,970 USD per tonne 10 Mining in DRC Cobalt Copper Gold 

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

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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

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