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Mineral Commodity Prices Last Week 1 Mining in Zambia Battery Metals Coal Copper 

Mineral Commodity Prices Last Week

Constance
According to the latest information, mineral commodity prices increased last week. This news is significant for the mining industry as it could signal a shift in demand for minerals such as copper, Cobalt, and Nickel. The rise in prices may also have implications for the global economy as many countries rely on these commodities for their manufacturing and industrial sectors. However, it remains to be seen whether this price increase will be sustained over the long term or if it is merely a temporary fluctuation in the market. Read More Here
DRC Mining on the up but Challenges Remain, says SRK 2 Mining in DRC 

DRC Mining on the up but Challenges Remain, says SRK

Constance
The positive climate for mined commodities is giving the Democratic Republic of Congo (DRC) great opportunities to leverage its resource wealth, but there are a number of burning issues that mining companies there are facing, explains Wouter Jordaan, partner and principal environmental scientist at SRK Consulting. “The DRC has long been an exciting mining destination, and our SRK Consulting Congo practice has seen considerable progress over the ten years since its establishment,” says Jordaan. “Among the issues we are working on with clients is the relationship between mining companies and communities.”… Read More Here
Lessons from Cobalt price Drop for Congo? 3 Mining in DRC Battery Metals Cobalt 

Lessons from Cobalt price Drop for Congo?

Constance
 The recent installation of the organizers of the Congolese Council of the Battery by the President of the Republic will have been preceded a few weeks before by a new very significant drop in the price of Cobalt. Listed at USD 82,000 per tonne between March and May 2022, this coveted metal saw its price drop below USD 35,000 per tonne at the end of February 2023. Three reasons explain this price drop: (1) The significant drop in demand for batteries previously stimulated by the explosion in sales of electronic… Read More Here
The Price of Gold Climbs to 1846 USD per Ounce 4 Gold International 

The Price of Gold Climbs to 1846 USD per Ounce

Constance
Gold prices rebounded again on Friday 3rd March and are heading for their first weekly rise in five as a decline in the US dollar and Treasury yields eased fears of further rate hikes from the Federal Reserve. Spot gold rose 0.6% to $1,846.66 an ounce by midday, its highest level in two weeks. US gold futures rose 0.7% to $1,853.70 an ounce in New York. Until a new catalyst is found, such as next week’s jobs or consumer price data, gold is likely to remain in a range between $1,830… Read More Here
DRC signs Ventora Agreement, Recovers $2B in Assets, and Avoids daily losses of $120K 5 Mining in DRC 

DRC signs Ventora Agreement, Recovers $2B in Assets, and Avoids daily losses of $120K

Constance
The agreement signed between the Congolese government and the Ventora group of Israeli billionaire Dan Gertler is once again making headlines in the Democratic Republic of Congo. The figures mentioned by the spokesman of the CNPAV, Jean-Claude Mputu are accused of false by other actors of civil society. For Carbone Beni, a pro-democracy activist, the agreement signed between the DRC and Ventora has enabled significant progress. “This agreement is not completely perfect, but has enabled significant and profitable progress for the State. Gertler, who was earning $6 million in royalties/month, is… Read More Here
ITU sets July 2023 for AI for Good Global Summit 6 International Technology & Innovation 

ITU sets July 2023 for AI for Good Global Summit

Constance
The International Telecommunication Union (ITU) is set to host the World Summit on Artificial Intelligence for Social Good in Geneva, Switzerland, on July 6 and 7. The summit aims to showcase the benefits of new technologies in achieving the Sustainable Development Goals (SDGs) set by the United Nations. Innovators in the fields of artificial intelligence (AI) and robotics will gather to present their cutting-edge solutions and discuss how AI can be used to tackle global challenges such as the climate crisis and humanitarian responses. The event will feature eight humanoid… Read More Here
Angola, Zambia, and DRC Create Trade Corridor to Transform regional Shipping 7 Contracts & tenders Mining in DRC Mining in Zambia 

Angola, Zambia, and DRC Create Trade Corridor to Transform regional Shipping

Constance
Angola, Zambia, and the Democratic Republic of Congo (DRC) have signed an agreement to create a trade corridor that could potentially revolutionize the transportation of the region’s resources. The corridor, known as the Lobito Corridor, will connect the mining areas of Katanga province in the DRC and the Copperbelt in Zambia to the Atlantic port of Lobito in Angola. According to mining company Pensana in a statement, ”harmonizing regulations on the corridor and infrastructure development will allow the three countries to transport metals used to manufacture electric vehicles and wind… Read More Here
Mozambican Fuel Companies complain of "Dramatic" Situation 8 Oil & Gas International 

Mozambican Fuel Companies complain of “Dramatic” Situation

Constance
The Mozambican Association of Fuel Companies (AMEPETROL) has expressed concern over the current state of the fuel sector, which they have described as “dramatic”. Despite purchasing fuel at high prices, AMEPETROL has complained that filling station prices have not been updated accordingly. AMEPETROL President Michel Ussene has stated that the association is confident that the government understands their situation and will support them to ensure that companies can continue to operate normally. This echoes warnings that AMEPETROL has made since the beginning of 2022. The lack of price updates at… Read More Here
Panama Breakthrough adds to Good News for Global Copper supplies 9 International Copper 

Panama Breakthrough adds to Good News for Global Copper supplies

Constance
A breakthrough in contract talks at a mine in Panama is the latest piece of good news for global copper supplies following resumption of operations at a giant Indonesian mine and easing tensions in Peru. Panamanian officials are “very close” to reaching an agreement with First Quantum Minerals Ltd. over a new contract for the Cobre Panama mine, said Ebrahim Asvat, a lawyer advising the government in the negotiations. A deal could be reached within two weeks, he said. That would end a months-long dispute that culminated in the suspension of exports… Read More Here
Glencore Sentenced to pay $700 million in US After Bribery Guilty plea 10 International 

Glencore Sentenced to pay $700 million in US After Bribery Guilty plea

Constance
U.S. judge on Tuesday 28th February ordered Glencore Plc to pay $700 million in connection with its guilty plea over a decade-long scheme to bribe foreign officials across several countries. The sentence handed down by U.S. District Judge Lorna Schofield in Manhattan federal court consisted of a $428.5 million fine and $272 million in forfeiture, in line with a plea deal reached last May between the mining and commodity trading giant and federal prosecutors in Manhattan. Prosecutors have said Glencore paid more than $100 million in bribes to officials in countries including… Read More Here

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