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Congo civil society groups demand transparency in Sokimo's Kibali deal with AJN 1 Mining in DRC 

Congo civil society groups demand transparency in Sokimo’s Kibali deal with AJN

Copperbelt Katanga News
  Civil society groups and a Member of Parliament in Congo have raised concerns over the failed move by state owned gold company SOKIMO to follow an open and transparent bidding process before it agreed to sell its stakes in six gold assets, including 10% of Congo’s biggest gold mine, Kibali, to Canada’s AJN Resources. The criticism follows action by Barrick Gold to block the proposed sale to AJN, after AJN on February 6 said it had reached a memorandum of understanding with Sokimo. Barrick and AngloGold Ashanti each own… Read More Here
Zimbabwe almost triples salaries for mineworkers, union says 2 Uncategorized 

Zimbabwe almost triples salaries for mineworkers, union says

Copperbelt Katanga News
Zimbabwe’s Associated Mine Workers Union has entered into an agreement with the mine chamber that will result in membership salaries almost tripling in the first quarter of 2020. “We managed to finalize an agreement for the mining industry from January to March 2020,” said AMWUZ President Tinago Ruzive in a statement. “The increase is based on the dollar value principle for those miners who may pay above the minimum amount for various reasons or merits.” The increase in the Southern African country, which is struggling with triple-digit annual inflation and… Read More Here
Zambia slips into the world’s bottom ten jurisdictions for attractiveness as a mining investment destination 3 Mining in Zambia 

Zambia slips into the world’s bottom ten jurisdictions for attractiveness as a mining investment destination

Copperbelt Katanga News
  Zambia is one of the ten least attractive jurisdictions in the world for mining investment, according to the Annual Survey of mining companies that was released recently by the Fraser Institute, an independent think-tank, and the global benchmark for investors’ perceptions. “The mining survey is the most comprehensive report on government policies that either attract or discourage mining investors,” said Ashley Stedman, co-author of the report and senior policy analyst at the Fraser Institute. The annual survey is closely watched by companies, minerals councils and mining chambers, as well… Read More Here
Gemstone boom follows government suspension 15% export duty 4 Mining in Zambia 

Gemstone boom follows government suspension 15% export duty

Copperbelt Katanga News
    Zambia is fortunate to be blessed by nature in several ways and has rich mineral and gemstone reserves, which, if harnessed and developed properly, can go a long way in enhancing the economic wealth of the country. The government of Zambia is committed to making strides towards paving the way for economic progress of the people of Zambia. The expected boom in the gemstone sector following the government’s move to suspend the 15% export duty will help promote Zambia as an attractive destination for foreign gemstone investors from… Read More Here
Angolan diamond production up, but revenues increase at significantly slower rate 5 Diamond 

Angolan diamond production up, but revenues increase at significantly slower rate

Copperbelt Katanga News
  Angola sold just over 9.44 million carats of diamonds last year and earned $ 1.299 billion, Angola’s National Diamond Commercialization Company (Empress Nacional de Comercialização de Angola) – better known as Sodiam – reported. This corresponds to an increase in production compared to the previous year by 12.3% and sales by 6.2%. At the presentation of these figures in Luanda, the Angolan State Secretary for Geology and Mining, Jânio Correia Victor, described them as “satisfactory results”. He explained the smaller increase in sales compared to the increase in production… Read More Here
Zambia’s largest IPP is transforming the face of Maamba 6 Electricity Mining in Zambia 

Zambia’s largest IPP is transforming the face of Maamba

Copperbelt Katanga News
  The contribution of around 10% to the country’s electricity generation capacity has a huge impact on energy security and the country’s economy in general. For Maamba Collieries Limited (MCL), however, efforts do not stop there. MCL’s sponsors and management know that no company can be successful unless the community around it shares that success. To live up to this vision, the company founded the Maamba Development Trust (MDT), whose motto is: “Making a Difference …” The aim is to promote social and economic development in Maamba, Sinazongwe District and… Read More Here
Red Rock excited about second - phase DRC exploration 7 Cobalt Emeralds Mining in DRC 

Red Rock excited about second – phase DRC exploration

Copperbelt Katanga News1 Comment
Republic of Red Rock Resources, listed on the London Stock the Congo (DRC) Exchange, has contracted Minex Consulting to explore minerals to start a second phase of exploration for its copper belt license in the south of the Democratic. The license, which Red Rock calls the Luanshimba project, provides for copper and cobalt mineralization, according to an initial exploration program in December 2018. The project is 80% owned by Red Rock, the rest by a local partner. “We have received very promising results from the first exploration in a favorable… Read More Here
Gold-backed ETFs have never seen a run of inflows like this 8 Gold International 

Gold-backed ETFs have never seen a run of inflows like this

Copperbelt Katanga News
  Global investors are stashing more and more assets into gold as the coronavirus outbreak spreads and appetite for risk takes a hit. The global tally of bullion in exchange-traded funds swelled by the most in more than a month on Tuesday as equities sank. That was the 25th consecutive day of inflows, a record. At 2,624.7 tonnes, the holdings are the largest ever.   After surging 18% last year, gold has extended its rally in 2020, with prices hitting the highest since 2013. The haven has been favored as… Read More Here
Gold ZCCM-IH Gold 

Nigeria’s government licenses two gold refineries.

Copperbelt Katanga News
Nigeria’s government has licensed two gold refineries to produce the metal for export and for the central bank to hold in its reserves, the mines minister said on Wednesday. Minister of Mines and Steel Development Olamilekan Adegbite told reporters in the capital, Abuja, that licenses had been issued and the central bank would be the main off-taker, holding some of the gold in its reserves. “We have licensed two refineries in Nigeria. They will refine gold and of course produce bullion that the CBN can buy… Read More Here
Barrick issues cease and desist notice to AJN over Kibali stake purchase 9 International Mining in DRC 

Barrick issues cease and desist notice to AJN over Kibali stake purchase

Copperbelt Katanga News
  Barrick Gold, the operator of the largest gold mine in the Congo, has given junior miner AJN Resources an injunction to block the acquisition of a 10% stake in the project, which it claims is undervalued. Barrick and AngloGold Ashanti, who each own 45% of the Kibali mine, said they had not been consulted on the acquisition, although the stake holder, Societe Minière de Kilo-Moto (Sokimo), sold their Kibali shares without their approval may not transfer or sell. The two companies and the chairman of the state-owned company Sokimo… Read More Here

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