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Gemfields to triple processing capacity at Moz ruby mine 1 International Gemstones 

Gemfields to triple processing capacity at Moz ruby mine

Constance
Gemstone miner Gemfields’ 75%-owned Montepuez Ruby Mining (MRM) subsdiary has entered into a legally binding contract with specialist engineering group Consulmet to build an additional processing plant at MRM’s ruby mine in Mozambique. The addition of the second plant will triple MRM’s processing capacity from the existing 200 t/h to 600 t/h, allowing MRM to process its sizeable stockpile, bring to market additional size and colour variations of rubies and to assess and expand into additional mining areas. The contract is a lump-sum turnkey contract based on industry standard International Federation of Consulting Engineers terms. MRM’s payment obligations are agreed in… Read More Here
Barrick CEO sees few good deals despite mining’s M&A revival 2 International Copper Gold 

Barrick CEO sees few good deals despite mining’s M&A revival

Constance
Barrick Gold Corp. won’t be pressured into making any major acquisitions even as its rivals pursue a flurry of deal making in the mining industry, chief executive officer Mark Bristow said. “The market is constantly dragging us into the M&A conversation, and we don’t need that,” Bristow said on Tuesday August 8 in an interview at Bloomberg’s Toronto office. “We’re not anti-M&A — it’s a component of any industry rearrangement — but the problem is that, in the gold industry, most of the tier one assets remaining are embedded in bad assets.… Read More Here
Glencore CEO Reveals Strategy to Bolster Cobalt Prices and Address Market Challenges 3 Cobalt Mining in DRC 

Glencore CEO Reveals Strategy to Bolster Cobalt Prices and Address Market Challenges

Constance
Glencore, a leading cobalt producer, has undertaken measures to stabilize cobalt prices and address market dynamics, according to the company’s CEO, Gary Nagle. The CEO shared insights into the firm’s strategy, indicating that it stockpiled cobalt during the first half of the year to support prices for this vital material used in electric vehicle batteries and aerospace applications. Nagle noted that Glencore, which holds the position of the world’s largest cobalt producer, is actively considering additional strategies. These include potential reductions in production and further accumulation of cobalt stockpiles, which… Read More Here
DRC Sees Positive Oil Price Rebound with 4.18% Weekly Increase in July 2023 4 Mining in DRC Petroleum 

DRC Sees Positive Oil Price Rebound with 4.18% Weekly Increase in July 2023

Constance
After a period of slowdown observed on this market between May and June 2023, oil prices showed positive signs at the end of July 2023. According to data from the Central Bank of Congo BCC, as of July 27, 2023, the price of a barrel of oil stood at 83.78 USD, recording a weekly increase of 4.18%. The Central Bank of Congo justifies this evolution in particular by the influence of the voluntary reduction in the production of black gold by the member countries of the Organization of Petroleum Exporting… Read More Here
DRC's Mining Exports Drop on Global Markets 5 Mining in DRC Cobalt Copper Gold Zinc 

DRC’s Mining Exports Drop on Global Markets

Constance
The general trend of the main mining products exported from the Democratic Republic of Congo on international markets is downward during the period from August 7 to 12, 2023. According to projections by the National Commission of Mercurials of the Ministry of Foreign Trade, products such as tin, gold and tantalum should experience a drop in price this week. Tin is expected to trade at $28,671 per ton versus $28,820 per ton last week, down $148. As for gold, its price should be around 63.48 USD per gram this week… Read More Here
Zambia's Economic Resurgence Anchored in Copper Prosperity 6 Mining in Zambia Copper Gold Mining in DRC 

Zambia’s Economic Resurgence Anchored in Copper Prosperity

Constance
A nation with a rich legacy of copper production, Zambia’s economic vitality pivots around its burgeoning mining industry. Dominating this landscape is the Copperbelt region, encompassing the mineral-rich Copperbelt Province and adjoining areas in Zambia’s northern territories. This strategic zone contributes a substantial 90% to the nation’s total GDP. The Expansive Copperbelt: Engine of Prosperity Stretching across an impressive 450 kilometers, with a width extending up to 260 kilometers, the Copperbelt region straddles Zambia’s border with the Democratic Republic of the Congo (DRC). The lives of the majority of the… Read More Here
Copper Holds at $8,613/Ton This Week (Aug 7-12, 2023) in DRC 7 Mining in DRC Cobalt Copper 

Copper Holds at $8,613/Ton This Week (Aug 7-12, 2023) in DRC

Constance
The main mining export products of the Democratic Republic of Congo are showing a downward trend on the international market, according to the projections of the National Mercurial Commission of the Ministry of Foreign Trade.  Copper is up this week at 8613 USD per tonne against 8504 USD per tonne last week, an increase of 109 USD. Zinc ore is also up this week at 2519 USD per ton against 2404 USD per ton the previous week, giving a positive price difference of 114 USD. However, tin is trending down… Read More Here
BEKA Schréder Celebrates 45 Years of Illuminating Success and Industry Contribution 8 Sponsored Content Press Release 

BEKA Schréder Celebrates 45 Years of Illuminating Success and Industry Contribution

Constance
BEKA Schréder, Africa’s leading manufacturer of luminaires and glass fibre reinforced polyester (GRP) poles, is thrilled to commemorate their remarkable 45-year journey in the lighting industry. Since their establishment in 1978, they have steadily grown, evolved, and contributed to the success of their clients and the industry as a whole. This milestone anniversary not only reflects their resilience and dedication, but also serves as a testament to the trust and support they have garnered over the years. From BEKA Schréder’s humble beginnings of manufacturing corrosion-resistant GRP poles and public lighting… Read More Here
Uganda Gold Plant to Commence Operations in 2024 9 Gold International 

Uganda Gold Plant to Commence Operations in 2024

Constance
Uganda’s Wagagai Gold Mine and Refinery will commence production in March 2024. The large-scale gold mining and refining facility is being developed by Wagagai Mining Limited and planned and designed by gold mining institution Shandong Gold Design Institute of China. Announced during a site visit at the facility, Wagagai Mining Limited’s General Manager, Tan Jiuchang, indicated that the firm will set up all aspects of the mining value chain, which will include mining, beneficiation, smelting, refining, logistics and foreign trade sales. “Our target is to get this facility ready for… Read More Here
UK and Zambia Forge $3.7bn Clean Energy and Mineral Partnership 10 Mining in Zambia Battery Metals Cobalt Copper Energy Partnership 

UK and Zambia Forge $3.7bn Clean Energy and Mineral Partnership

Constance
The British Government has agreed a partnership with Zambia covering clean energy and critical mineral supply worth more than $3.7bn (£2.91bn). Under the clean energy and green investment partnership, the UK will aim to generate $3.1bn of private sector investment for the Zambian mining and renewable energy industries. A further $600m of funding will come in the form of UK Government-backed investments. Approximately 70% of Zambia’s export earnings come from mining. In 2022, Zambia was the world’s eighth-largest copper producer, and second in Africa. In the same year, it was also the world’s 13th-largest… Read More Here

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