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11 illegal miners die in Mozambique 1 Uncategorized 

11 illegal miners die in Mozambique

Copperbelt Katanga News
At least 11 illegal miners in northern part of Mozambique’s Montepuez ruby mine have died following a series of tunnel collapses over three days. The mine is 75% owned by the United Kingdom based natural resources firm Gemfields. According to Gemfields, approximately 800 artisanal miners entered Montepuez Ruby Mining (MRM)’s Maninge Nice 3 mining pit. Despite repeated warnings from MRM staffs, these illegal miners were seeking ruby-bearing gems and began undercutting the outer edge of the mining pit. As such this led to several ground collapse incidents, killing 11 artisanal… Read More Here
Trader Trafigura in talks with Congo over financing cobalt buyer 2 Cobalt Mining in DRC 

Trader Trafigura in talks with Congo over financing cobalt buyer

Copperbelt Katanga News
Trading house Trafigura Group is in talks with the Democratic Republic of Congo about financing a new state-controlled company that will buy all the African nation’s hand-mined cobalt. Entreprise Generale du Cobalt will need about $80-million to $100-million to begin buying cobalt from artisanal miners, this was according to a source whose details were withheld as the negotiations in this matter were still private. Mines Minister Willy Kitobo Samsoni said that the hand-dug metal accounts for a fifth of cobalt output in Congo, the world’s biggest producer of the essential ingredient in… Read More Here
Ivan hoe Kakula high Grade International Mining in DRC 

Canadian Ivanhoe Mines expands its mining project in DRC

Copperbelt Katanga News
Canadian mining company Ivanhoe Mines has announced the completion of an independently-verified, updated mineral resource estimate for the Kamoa-Kakula copper project in the Democratic Republic of Congo (DRC). The announcement was made by Ivanhoe co-chairs Robert Friedland and Yufeng “Miles” Sun at the 26th annual African Mining Indaba that was taking place   at the Cape Town International Convention Centre (CTICC) from February 3 to 6. The Kamoa deposit, discovered by Ivanhoe geologists in 2008, is one of two very large copper deposits. The other major deposit is Kakula, which is… Read More Here
South Africa’s power crisis puts mining sector at risk 3 Energy 

South Africa’s power crisis puts mining sector at risk

Copperbelt Katanga News
South Africa’s dire power situation is putting pressure on many commercial and industrial players that rely heavily on stable supply. According to Ted Blom, independent power and mining expert and commentator and a partner at Energy & Mining Advisors: “More than 30 percent of South African mining projects will be terminated prematurely due to additional power costs if suitable solutions are not found within the next 12 months.” His comments follow Mineral Resource and Energy Minister Gwede Mantashe’s announcement last week at Mining Indaba that the government had conceded that it… Read More Here
AngloGold quits mining in south Africa sells assets for $300 million 4 Uncategorized 

AngloGold quits mining in south Africa sells assets for $300 million

Copperbelt Katanga News
Miner AngloGold Ashanti has reached an agreement to sell its remaining South African producing assets and related liabilities to South Africa’s Harmony Gold Mining Company, for around $300 million in cash, subject to subsequent performance, AngloGold Ashanti said. The sale will help streamline AngloGold Ashanti’s portfolio to enhance its operating and financial metrics, the company said in a statement. The transaction is subject to approval by the South African competition authorities and the country’s minister of mineral resources and energy and could be completed around June 30, 2020. Harmony said… Read More Here
Global Tailings Review 5 Uncategorized 

Global Tailings Review

Copperbelt Katanga News
The catastrophic failure of a tailings storage facility at Vale’s Corrego do Feijão mine in Brumadinho, Brazil, on 25 January 2019 is a human and environmental tragedy. When the dam collapsed, shortly after noon, 11.7 million cubic meters of mining waste surged through the mine site towards the local town and countryside below, resulting in over five miles of destruction. As of 9 September 2019, 248 people are confirmed dead, and 22 are missing. This is a stark reminder that, while the mining and metals industry has come a long… Read More Here
Barrick beats forecasts, hikes dividend by 40% as gold prices soar 6 Gold International 

Barrick beats forecasts, hikes dividend by 40% as gold prices soar

Copperbelt Katanga News
Barrick Gold  shared a better-than-expected quarterly profit and gave investor a more than welcome 40% dividend increase thanks to strong gold prices. The world’s second largest producer of the yellow metal said adjusted net earnings in the three months to December reached $300 million, or 17 cents a share, up from $264 million recorded in the previous quarter. Analysts’ average estimate was 14 cents a share. “The board believes the dividend increase is justified by the significant reduction in net debt and strong balance sheet, together with the growth in free… Read More Here
White Metal signs MOU on Namibian Copper-Silver Project to examine future possibilities 7 International 

White Metal signs MOU on Namibian Copper-Silver Project to examine future possibilities

Copperbelt Katanga News
White Metal Resources Corp is pleased to announce that it has signed a non-binding Memorandum of Understanding (“MOU”) with Luxury Investments One Hundred and Ninety Two (Pty) Ltd. (“Luxury Investments”), Kalahari Copper Ltd, and Newco Management Team of South Africa. Along with White Metal, these three parties have agreed to work together on examining small-scale production possibilities in areas of Namibia covered by Exclusive Prospecting Licences (“EPL”) controlled by White Metal (EPL 7071) and Kalahari Copper (EPLs 7082, 7079, 6998, 7081). Luxury Investments has been successfully running a small-scale mining… Read More Here
The necessary TSF discussion - oversight, risk and investment 8 Uncategorized 

The necessary TSF discussion – oversight, risk and investment

Copperbelt Katanga News
  The controversial issue of Tailings Storage Facilities (TSF) construction and management following a spate of disasters over the last 24 months was unpacked during a breakfast discussion  by leading mining services companies Fraser Alexander, Knight Piesold and Webber Wentzel on the sidelines of the annual Investing in Africa Mining Indaba event in Cape Town. Hosted by leading, African-focused mining trade journal Mining Review Africa, the discussion focused on the importance of integrated TSF management and attracting investment while containing risk. A TMF/TSF is a storage area for post-processed ore… Read More Here
Harmony Gold expects to have 30 MW solar plant a year from now 9 Electricity 

Harmony Gold expects to have 30 MW solar plant a year from now

Copperbelt Katanga News
 JOHANNESBURG  Gold mining company Harmony expects to have a 30 MW solar power plant running in a year from now, provided all regulatory obstacles are removed. The company is also in discussion with Eskom to alleviate the impact of load-shedding. Harmony CEO Peter Steenkamp said during a media conference  that the 30 MW plant in the Free State would be the first step in the company’s move to arrange for its own electricity generation. “We’re already far down the line as far as identifying the company that will build it for… Read More Here

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