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Anglo American and Jiangxi Copper collaborate on responsible copper 1 International Copper Partnership 

Anglo American and Jiangxi Copper collaborate on responsible copper

Constance
The agreement was signed during a visit to Jiangxi Copper’s headquarters in Nanchang, China, and is part of Anglo American’s work with customers to create sustainable value chains beyond its own mining operations, recognising consumers’ increasing expectations for sustainably sourced and supplied raw materials. Peter Whitcutt, CEO of Anglo American’s Marketing business, said: “We are developing a series of partnerships to shape a more sustainable and customer-centric value chain – one that meets consumer-driven demand for copper with demonstrably strong provenance credentials. That value chain begins with our portfolio of… Read More Here
Drilling campaign recommenced at Omaruru Lithium Project 2 International Lithium 

Drilling campaign recommenced at Omaruru Lithium Project

Constance
Prospect Resources Limited (Prospect or the company) is pleased to advise that Reverse Circulation (RC) drilling at its Omaruru Lithium Project (Omaruru) (Prospect 20% interest, with initial earn-in to 40% in progress) in Namibia has recommenced. This program is focused on follow-up extensional drilling at the Brockmans prospect where thick, near-surface, shallow-dipping, higher-grade lithium mineralization was returned from just over 2,000m of RC drilling earlier this year (refer Prospect ASX release dated 28 March 2023).It will also encompass targeted depth extension drilling at the Karlsbrunn prospect. Finally, the program is… Read More Here
Diamond auctions down 32% year-on-year 3 Diamond International 

Diamond auctions down 32% year-on-year

Constance
Diamond auctions record a provisional figure of US$450 million for round 5 of its diamond auctions in 2023. This was announced yesterday June 22 by diamond producer De Beers. . A drop of about 32% year-on-year and 6% compared to the previous cycle, the second underperformance of the year after the decrease in revenue recorded during cycle 4. If the situation persists, it could significantly reduce the mining revenues of several African countries, including Botswana, where diamond mining occupies a central place in the economy.  The other African countries concerned… Read More Here
DRC's Inflation Rate Hits 9.2% as of June 16, 2023 4 Mining in DRC Economy 

DRC’s Inflation Rate Hits 9.2% as of June 16, 2023

Constance
As of June 16, 2023, the inflation rate had reached 9.2% year-to-date, mainly reflecting the rise in food prices due in part to that of imports. This is the observation made by the Monetary Policy Committee (CPM) at the end of a meeting held on Monday, June 19, 2023, under the leadership of Mrs. Kabedi Malangu, Governor of the Central Bank of Congo (BCC). According to the same source, the inflation rate should reach 11.5% in December 2023. However, this outlook is down from 13.1% in 2022. It should be… Read More Here
DRC and Angola Agree to Jointly Exploit Hydrocarbon Resources in ZIC 5 Mining in DRC Partnership 

DRC and Angola Agree to Jointly Exploit Hydrocarbon Resources in ZIC

Constance
The Democratic Republic of Congo (DRC) and the Republic of Angola have agreed on the joint exploitation of hydrocarbon resources in the maritime zone of common interest between the two countries.  It was during a joint meeting held in Luanda from June 20 to 21, 2023 between the two parties represented respectively by their Minister of Hydrocarbons. During these two days of work, Diamantino Pedro Azevedo, Angolan Minister of Hydrocarbons and Didier Budimbu Ntubuanga from the DRC also discussed the joint mechanism for the exchange of petroleum products. The first… Read More Here
Copper at $8,354 per ton in DRC this week: June 19-24, 2023 6 Mining in DRC Copper 

Copper at $8,354 per ton in DRC this week: June 19-24, 2023

Constance
The price trend of the main mining export products of the Democratic Republic of the Congo oscillates between rising and falling in view of this week’s projections from June 19 to 24, 2023 of the National Mercurial Commission of the Ministry of Foreign Trade. Copper is trending up this week and is trading at USD 8,354 per tonne versus USD 8,294 per tonne last week, a positive price differential of USD 60. Cobalt is showing a stable trend this week and remains around 28,838 USD per ton on the international… Read More Here
Simplifying CSR in the DRC Mining Sector 7 Mining in DRC Corporate social responsibility 

Simplifying CSR in the DRC Mining Sector

Constance
By  Joseph Sekabo, CSR consultant and communication specialist In the Democratic Republic of Congo, although to date no law formally establishes the framework for the practice of Social Responsibility (CSR), some companies are distinguished by the implementation of this approach based on a proactive strategy or following the guidelines from their parent company.  In the mining sector, most mining operators apply CSR in the DRC as they come under foreign-owned entities that are often listed on the stock exchange in Europe, Canada or the United States. Very unfortunately, it should be… Read More Here
Critical Materials Price Index Reaches 12-Month Low 8 International Battery Metals 

Critical Materials Price Index Reaches 12-Month Low

Constance
The critical materials price index, monitored by Project Blue, reached its lowest point in the past year in May. However, the energy transition market intelligence firm now suggests that this decline marked the low point in the cycle for the basket of 30 metals and minerals. The index had reached its peak in March of the previous year, benefitting from a post-COVID economic recovery. However, it experienced a swift decline due to a weakening global macroeconomic situation, surging energy costs, and a less-than-inspiring recovery in China, which accounts for the… Read More Here
Pan African's Missed Gold Bonanza: Can They Catch Up? 9 Gold International 

Pan African’s Missed Gold Bonanza: Can They Catch Up?

Constance
What Eskom taketh away, the rand giveth back. That’s one way of looking at prospects for Pan African Resources, a midtier gold producer that seems to have completely missed the rand gold price bonanza being lapped up by other South African-focused gold miners. Pan African’s share price has fallen 19% in 12 months whereas shares in Harmony Gold are 67% higher. DRDGold, the company with which Pan African is most often compared, is 115% higher. Over five years, the difference is even starker: Pan African has returned a respectable 120%, including… Read More Here
Glencore's bid for Teck's coal business raises uncertainties 10 International 

Glencore’s bid for Teck’s coal business raises uncertainties

Constance
Glencore confirmed it had submitted a bid for the coking coal business of Teck Resources while saying it had not abandoned an earlier proposal to merge with the Canadian firm’s metals business. The Swiss-headquartered business said last week that were its new offer successful it would demerge ‘CoalCo’ within 12 to 24 months. It would then reduce its net debt cap to $5bn from the current $10bn raising the possibility of improving capital returns in the long run. Teck, meanwhile, said it had received other offers for its coal business. Its… Read More Here

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