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Bank of Zambia Increases Monetary Policy Rate Amid Inflationary Pressure 1 Economy Mining in Zambia 

Bank of Zambia Increases Monetary Policy Rate Amid Inflationary Pressure

Constance
The Bank of Zambia (BOZ) has decided to raise the Monetary Policy Rate (MPR) by 0.25% (25 basis points) from 9.25 percent to 9.50 percent. This move aims to address the persistently high inflation and maintain macroeconomic stability in the country. During the Monetary Policy Committee Announcement, Bank of Zambia Governor Dr. Denny Kalyalya explained that the decision to increase the MPR was driven by the projection that inflation would continue to exceed the target range of 6-8 percent in the foreseeable future. While inflation marginally declined in Q1 2023,… Read More Here
DRC Diamond Exports Reach $145.9M by End of 2022. 2 Mining in DRC Diamond 

DRC Diamond Exports Reach $145.9M by End of 2022.

Constance
Diamond exports from the Democratic Republic of Congo (DRC) generated more than $145.9 million throughout 2022. This is shown by the statistical data published by the Ministry of Mines. According to this 2022 annual report, diamond exports to the Democratic Republic of Congo amounted to 11,683,439.31 million carats. The same source informs that diamond production in the Democratic Republic of Congo remained dominated, during the period under analysis, by artisanal production with more than 7,353,996.44 million carats, generating a total amount of 83.7 million USD. Artisanal diamond mining exports by… Read More Here
DRC President Visits Huawei Headquarters during China State Visit 3 Mining in DRC Corporate News 

DRC President Visits Huawei Headquarters during China State Visit

Constance
The President of the Republic, Félix-Antoine Tshisekedi Tshilombo, currently on a state visit to China, visited Huawei’s headquarters in Shenzhen on Sunday May 28, 2023. The Congolese Head of State was welcomed on site by Dr. Liang Hua, Chairman of the Board of Directors of Huawei. Together, they visited Huawei’s headquarters showroom dedicated to the latest trends in technology and the digital economy. This visit was an opportunity for the DRC and Huawei to continue their in-depth discussions on joint efforts to promote Information and Communication Technologies (ICT), digital transformation of… Read More Here
DRC Generates 1.104 billion USD Gold exports at the end of 2022 4 Mining in DRC Gold 

DRC Generates 1.104 billion USD Gold exports at the end of 2022

Constance
In total more than 28,306.26 kilograms of gold were exported from the Democratic Republic of Congo (DRC) in 2022, informs the annual report of the Ministry of Mines. According to this same document, the 28,306.26 kilograms of gold exported on Congolese soil generated revenues of 1.104 billion US dollars during the period evaluated. Regarding exports of industrial exploitation of unrefined gold, they are dominated by KibaIi Gold with 99.83% and MCCR with 0.17%. The quantity exported by MCCR is marginal. Artisanal exports of gold during this period are estimated at 42.25… Read More Here
Top 5 Innovative Mining Techniques 5 Mining technology 

Top 5 Innovative Mining Techniques

Constance
An influx of cutting-edge technologies and digital innovations in the mining industry are poised to transform the sector while enhancing efficiency, sustainability and safety standards in the extraction and processing of minerals. The increasing digitization of mines will allow service companies and operators to improve accuracy and recoverability, thus reducing carbon emissions and operational costs. Spatial Data Visualization With many mines operating in remote and hostile environments, 3D mapping and modelling will enable mining companies to improve mineral recovery by artificially creating software environments that use real-life data. Spatial and geospatial data is now… Read More Here
Presidents Xi Jinping and Félix Tshisekedi sign 4 MoUs during China state visit 6 Mining in DRC Economy 

Presidents Xi Jinping and Félix Tshisekedi sign 4 MoUs during China state visit

Constance
The President of the Democratic Republic of Congo, Félix-Antoine Tshisekedi, was welcomed with all the honors, this Friday, May 27, 2023, on the esplanade of the Great Palace of the People of Beijing by his host, President Xi Jinping of the Republic popular in China. National anthems, 21 cannon shots, fanfare, military parade and children’s greetings, everything was put in place to make this sumptuous welcome worthy of the exceptional quality of bilateral relations between Congo and China. The two Presidents had profound words to describe the state of good… Read More Here
FQM’S DIET PROGRAMME SET TO IMPROVE NUTRITION IN N/W PROVINCE  7 Mining in Zambia Corporate social responsibility 

FQM’S DIET PROGRAMME SET TO IMPROVE NUTRITION IN N/W PROVINCE 

Constance
Good nutrition is a significant focus of the health literacy programme being championed by First Quantum Minerals in North-Western Province. The initiative is part of FQM’s community development programmes aimed at supporting the government’s efforts to improve the health and wellness of people in rural areas through private-public partnerships.  FQM through its Health and Wellness Department has partnered with the Ministry of Health to train women in and around the mine’s catchment areas on how to prepare nutritious meals for their families from locally grown food. “We are running community services, and… Read More Here
Iron Ore Price Falls Below $100 Per Ton in China this week 8 International Iron Ore 

Iron Ore Price Falls Below $100 Per Ton in China this week

Constance
The price of iron ore fell Wednesday 24th May, languishing below $100 a ton, as steel prices crashed in China. A weaker yuan added to the gloomy mood as Shanghai rebar futures hit their lowest level in more than six months. Benchmark fines of 62% Fe imported into North China fell 3.22% to $97.83 a ton, the lowest since November. The most traded iron ore in September on China’s Dalian Commodity Exchange ended the day down 4.6% at 682.50 yuan ($98.74) a ton, hitting its lowest since May 5 at… Read More Here
Copper Plummets by $302, Trading at Approximately $8,208 per Ton in the Week of May 22-27, 2023 in DRC 9 Copper Cobalt Mining in DRC 

Copper Plummets by $302, Trading at Approximately $8,208 per Ton in the Week of May 22-27, 2023 in DRC

Constance
The general trend in the prices of the main mining export products of the Democratic Republic of the Congo is downward, in view of the projections of the National Mercurial Commission of the Ministry of Foreign Trade. Copper is trending down this week at $8,208.20 per ton from $8,512.65 per ton last week, a negative price gap of $302. Cobalt is also down this week at USD 34,240 per tonne versus USD 34,246.00 per tonne last week, showing a decline of USD 6. Similarly, zinc ore is trending down this… Read More Here
Lubu Project begins washed coking coal production in Zimbabwe 10 International Coal 

Lubu Project begins washed coking coal production in Zimbabwe

Constance
Contango Holdings Plc, a natural resource development company, has announced that the production of washed coking coal has commenced at its flagship Lubu Coking Coal Project in Zimbabwe. Stockpiles of coking coal have already been established by the Wirtgen Surface Miner which can mine at a rate of up to 1,000 tonnes per hour of coking coal.  The company will continue to undertake studies on washed coal production to ensure optimisation and samples will also be sent to several parties who have indicated they would look to enter into long-term offtake contracts.… Read More Here

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