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De Beers diamond buyers locked out in Botswana travel ban 1 Diamond 

De Beers diamond buyers locked out in Botswana travel ban

Copperbelt Katanga News
De Beers, already grappling with a prolonged industry crisis created  by the coronavirus outbreak, now has another headache to contend with: how to conduct diamond sales when key customers are blocked from traveling? Botswana, where De Beers conducts its 10 sales each year, on Monday announced a travel ban on 18 high-risk countries as part of an array of measures to protect itself from the pandemic. The list included Belgium, India and China, which are home to many of the world’s leading diamond dealers. Botswana is the second-biggest diamond producer,… Read More Here
Lucapa’s Lulo Mine Resource Carats Up to 25% 2 Diamond 

Lucapa’s Lulo Mine Resource Carats Up to 25%

Copperbelt Katanga News
Lucapa Diamond and partners Endiama and Rosas & Petalas announced on Monday an increase in the Lulo diamond mine reserve in Angola by 25% to 100,700 carats. The miner said the total was more than five times Lulo’s 19,000 carat production in 2019, the fifth consecutive year of commercial alluvial land production. The estimate also assumes that the average dollar per carat value for Lulo diamonds is $ 1,620, an increase of 14% over the previously modeled estimate of $ 1,420 per carat. Total Lulo diamond sales to date have… Read More Here
Copper price plummets as China faces first GDP drop since 1976  3 Copper International 

Copper price plummets as China faces first GDP drop since 1976 

Copperbelt Katanga News
Copper prices dropped on Monday after China released a series of economic data showing the deepest falls in industrial production and property, plant and equipment. Copper trading in New York fell more than 5% on Monday to a low of $ 2,335 a pound ($ 5,150 a ton), the lowest since early November 2016. The copper price is up from the 2020 high that was hit towards the end, was also down by 19% from January. Industrial production growth in China declined by 13.5% in January and February compared to… Read More Here
Endeavour Confirms First Case of Coronavirus at a Mine Site in Africa 4 Gold 

Endeavour Confirms First Case of Coronavirus at a Mine Site in Africa

Copperbelt Katanga News
Gold producer Endeavor Mining said Monday that an employee of its Houndé mine in Burkina Faso tested positive for coronavirus and was quarantined on Saturday, but that mining and exploration activities were not interrupted. The employee had mild symptoms hours after arriving from the UK, and the few people in contact with the employee were identified and quarantined. With no symptoms on arrival and the company’s mandatory health screening, Endeavor reinforced its prevention efforts by introducing a mandatory 14-day quarantine period for all employees or contractors arriving in Ivory Coast… Read More Here
Gold Gold International 

Gold price coronavirus losses top $250 an ounce

Copperbelt Katanga News
Gold’s pandemic failure surpassed $ 250 an ounce on 16th of march 2020 Monday, for the seventh consecutive day, as global financial and commodity markets continued to panic. Gold for delivery in April fell on the Comex market in New York to $ 1,450 an ounce on Monday, a decrease of $ 65 an ounce or 4.3% from Friday’s closing price. Last Monday, the metal hit a seven-year high of $ 1,704.30. By the afternoon, contracts for 53 million ounces of gold had changed hands, and gold has returned over… Read More Here
AngloGold Ashanti tightens quarantine policy after Ghana worker gets coronavirus 5 Gold 

AngloGold Ashanti tightens quarantine policy after Ghana worker gets coronavirus

Copperbelt Katanga News
A worker at AngloGold Ashanti’s Obuasi gold mine in Ghana tested positive for coronavirus on Sunday, the company said, and the second known case of the virus at a mine site in Africa. AngloGold Ashanti said operations at the Obuasi mine, where gold production is ramping up, would continue. The infected employee – a Ghanaian who lives in mine accommodation and had recently returned from Britain – is in self-isolation. AngloGold Ashanti said it is working with Ghana’s ministry of health to trace all contacts. Non-essential staff will work remotely… Read More Here
Human rights activist 'forced to flee DRC' over child cobalt mining lawsuit 6 Cobalt Mining in DRC 

Human rights activist ‘forced to flee DRC’ over child cobalt mining lawsuit

Copperbelt Katanga News
A Congolese human rights activist said he was forced to flee the country with his family after being involved in a lawsuit accusing the world’s largest technology companies of killing children in cobalt mines in the Democratic Republic of the Congo (DR Congo). In December, the Guardian announced that a group of families from the Democratic Republic of the Congo have taken landmark legal action against Apple, Google, Tesla, Microsoft, and Dell. They claim that they supported and favored the death and injuries of their children, who worked in mines… Read More Here
China $570 billion stimulus raises hopes for copper, iron ore price 7 Copper International Iron Ore 

China $570 billion stimulus raises hopes for copper, iron ore price

Copperbelt Katanga News
Copper and iron ore prices have held up surprisingly well as markets in the West belatedly come to grips with the coronavirus pandemic and China shifts focus from containment to rebuilding its economy following more than two months of inactivity. On Wednesday BMO Capital Markets held a conference call with PRC Macro, a consulting firm focused on China’s political economy, about the prospects for 2020 GDP growth in the country. PRC Macro anticipates spending by Beijing of as much as $570 billion primarily focused on infrastructure. PRC Macro says “in order… Read More Here
Ivanhoe Mining in DRC Cobalt Copper 

Ivanhoe eyes Q3, 2021 start for DRC copper mine  

Copperbelt Katanga News
Ivanhoe Mines Ltd. huge Kamoa-Kakula Copper Project in the Democratic Republic of Congo (DRC) is on track to start production in the third quarter of 2021. The forecast is among the highlights of the company’s 2019 full year results, which also contain a review of mine construction progress and exploration activities. “Development of the Kakula Mine, the first of multiple, planned mining areas at Kamoa-Kakula, is making excellent progress,” the company said in a press release. It said the first underground access drives intersected Kakula’s initial high-grade ore (+3% copper) in… Read More Here
Barrick eyes $1.3bn lift at Pueblo Viejo gold mine 8 Mining in DRC Gold 

Barrick eyes $1.3bn lift at Pueblo Viejo gold mine

Copperbelt Katanga News
Barrick Gold will look to spend $1.3-billion to extend the life of its Pueblo Viejo mine in the Dominican Republic beyond 2040, CEO Mark Bristow announced earlier this week, as the miner looks to wring more value from its existing assets. The proposed expansion of the processing plant and tailings facility at Pueblo Viejo will enable the mine to exploit lower grades, Bristow told local media and businessmen. The mine, located about 100 km northwest of the capital Santo Domingo, is operated by a joint venture of which Barrick holds 60% and… Read More Here

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