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Gold price highest since June as concerns over Ukraine continue 1 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 2 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 3 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
DRC: Congolese expertise increasingly proven in environmental studies, says OEMS CEO 4 Mining in DRC 

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

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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
AVZ Minerals completes US$240 million cornerstone investment 5 Mining in DRC Lithium Tin 

AVZ Minerals completes US$240 million cornerstone investment

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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
Small Scale Miners looking forward to the resumption of operations at the Black Mountains- Zambia 6 Copper Economy Mining in Zambia 

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

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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
Lithium battery manufacturers race to develop low-emission heavy equipment for mining 7 Battery Metals Lithium 

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

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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
Glencore sets aside $1.5bn to settle bribery probes 8 Mining in DRC International Mining Companies 

Glencore sets aside $1.5bn to settle bribery probes

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Investigations into corruption at Glencore have been underway since 2018, as the firm faces allegations of bribery and market manipulation. Glencore has announced its decision to set aside $1.5bn to resolve investigations into bribery and corruption at a number of its operations.   The Anglo-Swiss firm is facing probes in the US, UK, and Brazil over corruption at its operations in the Democratic Republic of Congo (DRC), Venezuela, and Nigeria, with allegations first being levelled in 2018. Such investigations are expected to be resolved this year.  The news comes as the… Read More Here
Copper edges higher as Russian troops return to base 9 Copper International 

Copper edges higher as Russian troops return to base

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Copper prices ticked higher on Tuesday after Russia returned some troops to base after exercises near Ukraine, easing fears about a potential invasion and boosting financial markets. Three-month copper CMCU3 on the London Metal Exchange (LME) rose 0.7% to $9 985 a tonne by 11:15 GMT after a 0.6% gain the previous day. It was unclear how many Russian units were being withdrawn to their bases after an estimated 130 000 Russian troops had been moved close to the Ukraine border.  “The metals markets in the short-term remain at the mercy of… Read More Here
Interventions in mining and other key sectors to prop Zambia’s GDP 10 Governance Mining in Zambia 

Interventions in mining and other key sectors to prop Zambia’s GDP

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Zambia government has revealed that by 2024, the country’s GDP is expected to rise to 4.4 per cent following strategic interventions in the agriculture, tourism, mining, manufacturing, energy, and transport sectors. The government has also projected a modest 3.5 per cent rise in its Gross Domestic Product (GDP) for 2022, a small rise from the 3.3 expected to have been attained last year. This is contained in the 2022-2024 Medium Term Budget Plan released by the Ministry of Finance. It said the economic outlook for 2022 and the medium term… Read More Here

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