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Q1 Lays Solid Foundation for Barrick’s Full-Year Production Targets 1 Gold Copper 

Q1 Lays Solid Foundation for Barrick’s Full-Year Production Targets

Copperbelt Katanga News
Barrick Gold Corporation had earlier on  reported preliminary first quarter sales of 1.22 million ounces of gold and 110 million pounds of copper as well as preliminary first quarter production of 1.25 million ounces of gold and 115 million pounds of copper. President and Chief Executive Mark Bristow said these results positioned Barrick well to achieve its guidance for the year despite the impact of the global Covid-19 pandemic and the resultant lockdowns. Bristow also said comprehensive programs to counter the spread of Covid-19 were in action at all of… Read More Here
Copper price plunges 2 Copper International 

Copper price plunges

Copperbelt Katanga News
Industrial metals fell back on Tuesday 21st April 2020 after a collapse in oil prices rattled markets and convinced traders that global demand destruction for commodities may be worse than feared. Copper trading in New York fell by 7.3% to $2.1495 a pound ($4,740 a tonne) in early afternoon trade, a three-week low. Last month, the bellwether metal briefly traded below $2.00, levels last seen during the global financial crisis of 2008-2009. Weakness in the copper price came despite early signs that activity in top metals consumer China is beginning to return… Read More Here
Spread of COVID-19 threatens cobalt supply out of DRC 3 Cobalt Mining in DRC 

Spread of COVID-19 threatens cobalt supply out of DRC

Copperbelt Katanga News
As COVID-19 continues to spread worldwide, the pandemic is having an extraordinary impact on the global economy and commodity markets, including cobalt. With countries imposing prevention and control measures against the virus, a number of cobalt-producing operations have been temporarily closed for maintenance since March. Roskill has so far recorded the closure of 21 operations as a result of the outbreak, including: Vale’s Voisey’s Bay and Glencore’s Sudbury in Canada; Ambatovy in Madagascar; Coral Bay and Taganito in the Philippines; CTT in Morocco. At this time, the loss of supply… Read More Here
Endeavour boss donates third of salary to fight covid-19 5 Covid-19 International 

Endeavour boss donates third of salary to fight covid-19

Copperbelt Katanga News
Canada’s Endeavor Mining announced Tuesday that its CEO Sébastien de Montessus will donate 30% of its base salary on  efforts to fight the coronavirus pandemic. Other members of the management team have also committed to give part of their salaries for the next three months, the company said. Endeavor will pool the funds to receive a total $ 1 million donation, which, together with previous spending on community initiatives, will increase the miner’s total donation to $ 6 million. The West African miner also said that employees who tested positive… Read More Here
Glencore to reopen it's Zambian mines pending agreement with government 6 Copper Mining in Zambia 

Glencore to reopen it’s Zambian mines pending agreement with government

Copperbelt Katanga News
Glencore will reverse its earlier decision to shutter its Zambia subsidiary Mopani copper  Mines (MCM) if it reaches an agreement with the Zambian government, the company said on Monday. Glencore wanted to shutter the mine due to disruption of its operations by the coronavirus crisis and low copper prices, while the mines minister has said the company is “fishing” for ways to lay off workers, and 11 000 jobs could be at risk. The miner’s statement came after Zambia’s mines ministry said Glencore had “rescinded” its decision to put MCM… Read More Here
Program to monitor Congo’s artisanal cobalt miners expanded 7 Cobalt Mining in DRC 

Program to monitor Congo’s artisanal cobalt miners expanded

Copperbelt Katanga News
 A scheme to monitor and improve artisanal cobalt mines in Democratic Republic of Congo will reach four times the number of sites it currently covers by 2023 after a deal between RCS Global and the Responsible Minerals Initiative (RMI). Cobalt, a by-product of copper or nickel, is used to make lithium-ion batteries that power smartphones and electric cars. Currently about two-thirds of it comes out the DRC. However, due to the region’s intense poverty and the mineral’s soaring price, thousands of impoverished Congolese have flocked to the cobalt rich areas to… Read More Here
COVID-19 Emeralds Mining in Zambia Emeralds Gemstones 

Kagem Emerald Mine Lockdown Due to COVID-19

Copperbelt Katanga News
Kagem Mining has stopped operations at its emerald mine in Lufwanyama to protect employees during the coronavirus pandemic. “The wellbeing of Kagem’s employees and communities is our top priority. As a result, all but critical operations at the Kagem Emerald Mine have been suspended for a maximum of one month from March 30, 2020, ”said Dr. Sixtus Mulenga, Board Chairman of Kagem. Almost 1,000 people work at Kagem, which is operated by Gemfields in collaboration with the Zambian government through the Industrial Development Corporation, which owns 25% of the business.… Read More Here
DRC? the Potential to be Africa's Richest Country???? 9 Mining in DRC 

DRC? the Potential to be Africa’s Richest Country????

Copperbelt Katanga News1 Comment
The largest Francophone country in Africa, the Democratic Republic of Congo (DRC), endowed with vast natural resources, has nearly 80 million inhabitants, fewer than 40% of whom live in urban areas. With 80 million hectares of arable land and over 1,100 listed minerals and precious metals, the DRC has the potential to become one of the richest economies on the continent and a driver of African growth, if it can overcome its political instability and improve  governance.   Read More Here
Global copper production to grow 3% annually until 2029 10 Copper Global markets International 

Global copper production to grow 3% annually until 2029

Copperbelt Katanga News
Global copper mine production will continue to grow over the next few years as a number of new projects and extensions go online, supported by rising copper prices and demand, Fitch Solutions predicts in a new report. Fitch analysts forecast an average annual increase in global copper mine output of 3.1% per year for 2020-2029, with total production increasing from 20.3 to 26.8 million tons over the same period. For 2020, Fitch predicts that Chile will increase production slightly by 0.5% to 5.89 million tons. Growth will be led by… Read More Here
Copper Price Meltdown Sinks Mining Stocks 13 Copper Global markets International 

Copper Price Meltdown Sinks Mining Stocks

Copperbelt Katanga News
  The decline in copper prices accelerated on Wednesday when global markets were plagued by pandemic fears and mining companies announced a series of production freezes and suspensions for project construction. Copper trading in New York fell 8.8% to $ 2,111 a pound ($ 4,650 a ton), the weakest since early October 2016. The price of copper has risen since its 2020 high, which was reached in late 2020 dropped more than 25% in January. Across South America, where most of the world’s copper is produced, countries like Argentina, Peru… Read More Here

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