Constance - Copperbelt Katanga Mining

Written by Constance

Uganda Approves Building Of Contentious Oil Pipeline With The Issuance Of A Permit.

January 23, 2023January 23, 2023 Constance

Uganda has issued the license for the construction of an oil pipeline crossing the country and Tanzania, intended to transport hydrocarbons from East Africa to international markets, and which has aroused the fury of environmental activists. “The approval (of the license) is another sign to demonstrate the joint commitment of the two countries to develop the EACOP project in a harmonized manner,” Ugandan Information Minister Godfrey Kabbyanga said on Friday 18.01.2023 The license was awarded to the East African Crude Oil Pipeline Company Ltd (EACOP) consortium, 62% owned by the… Read More Here

Cobalt Mining in DRC

Cobalt Prices Dropped By 4% To reach 48,795 USD per tonne Last Week

January 23, 2023January 23, 2023 Constance

Cobalt, one of the main mining products exported by the Democratic Republic of Congo (DRC), experienced a significant drop in price on the international market during the period from January 16 to 21, 2023. According to the report of experts from the National Commission of Mercurials, a structure attached to the Ministry of Foreign Trade, the price of cobalt traded at 48,795 USD per tonne last week against 50,959.00 USD per tonne a week earlier. Clearly, cobalt was expected to lose USD 2,164 of its market value on the international… Read More Here

Copper International

Glencore’s Antapaccay Copper Mine Attacked, Fire Breaks Out

January 23, 2023January 23, 2023 Constance

Glencore’s massive Antapaccay copper mine in Peru faced its latest disruption on Friday, 20.01.2023 as a fire spread through a nearby worker housing area which is believed to have been started by protesters, a source familiar with the matter told Reuters. Video footage published by the company on its Facebook page shows people putting flammable material near one of the mine’s fences. The attack comes as growing political and social unrest grips Peru, following weeks of angry and sometimes violent antigovernment protests triggered by the ouster of the country’s president last month.… Read More Here

Drilling Gold International

RC drilling At Sanu Gold’s Bantabaye To Start In Q1 2023

January 23, 2023January 23, 2023 Constance

Sanu Gold is preparing for a Phase I 10,000 m RC drill program at its Bantabaye Gold Exploration Permit in Guinea, West Africa. Bantabaye covers a 100 km2 area on the western margin of Guinea’s Siguiri Basin, approximately 50 km southwest of Nordgold Group’s Lefa Gold Mine, one of the largest gold producers in Guinea, and 90 km north of Predictive Discovery’s Bankan Gold Project, a recent multi-million-ounce gold discovery. Martin Pawlitschek, President, and CEO of Sanu Gold, commented: “We are excited to be preparing for the initial drill test of… Read More Here

Copper International

ERG Sees Copper Rising On High demand, Supply Worries

January 23, 2023January 23, 2023 Constance

Copper prices are set for another rally this year thanks to surging demand, supply concerns and the metal’s widespread use in energy transition technologies, Eurasian Resources Group’s (ERG) chief executive officer told Reuters. “Whatever the winning technologies for batteries, EVs (electric vehicles), renewable energy, etc, will be in the future, they all need copper,” Benedikt Sobotka said on the sidelines of the World Economic Forum’s annual meeting in Davos, Switzerland. “I am very long copper,” Sobotka said in an interview with the Reuters Global Markets Forum, adding he expected a 10%-20%… Read More Here

Oil & Gas International

Ethiopia Discovers New Oil Deposits

January 23, 2023January 23, 2023 Constance

Ethiopia has announced the discovery of new oil deposits that could have a significant impact on the economy of the nation. The Minister of Mines and Petroleum, Tekele Uma Banti, confirmed on Wednesday, January 18, 2023 that exploration of the deposits will begin immediately. As a landlocked nation, Ethiopia currently relies on oil imports from the Middle East and other parts of Africa. A study conducted in Warra Iluu within the Abay Basin revealed that the country has more than 2 billion barrels of crude oil, which could reduce dependence… Read More Here

Copper International

Copper Price Highest Since June On China Optimism

January 23, 2023January 23, 2023 Constance

The copper price rose on Wednesday 18.01.2023 to its highest levels since June as speculators bet that low inventories and rising Chinese demand will lift prices. Copper for delivery in March rose on the Comex market in New York, touching $4.35 per pound ($9,581 per tonne), up 3% compared to Tuesday’s closing. Investors believe China’s lifting of covid-19 restrictions will enable its economy to bounce back from last year’s slump. Demand will improve, said BMO analyst Colin Hamilton. “It (copper) is running a little bit ahead of fundamentals, but there’s just… Read More Here

Mining in Zambia Gold

Zambians Flock To Newly Uncovered Gold Mine In Lumezi District, With a rush of 4,000 people

January 23, 2023January 23, 2023 Constance

The Lumezi Town Council in Eastern Province, Zambia, has expressed concern over the unregulated gold mining activities taking place in the Kabulasisi Local Forest under Chief Kazembe’s jurisdiction. The Public Relations Officer of the Town Council, Irvin Muyumbwa, has stated that the influx of over 4,000 people to the mining site is a matter of public health concern. The Council Secretary, Mary Sinkala, visited the mining site with Public Health Inspectors and Council Police to assess the sanitary and safety conditions. The team found that the temporal toilet facilities and… Read More Here

Copper Cobalt Mining in DRC

Congo Anticipates finalizing the overhaul of its $6 billion China mining contract within the year

January 20, 2023January 22, 2023 Constance

Democratic Republic of Congo expects to reach an agreement on overhauling $6 billion of an infrastructure-for-minerals deal with Chinese investors this year, Finance Minister Nicolas Kazadi told Reuters in an interview. The government is in active talks with representatives of Sicomines, a cobalt and copper joint venture with Chinese state-owned firms, as well as China’s CMOC Group Ltd massive Tenke Fungurume (TFM) copper and cobalt mine, Kazadi said via videolink from the World Economic Forum in Davos, Switzerland. “It’s important for us to have clear agreement because this is what we have… Read More Here

Green Energy Mining in DRC

DRC President Criticizes The Delay Of The Grand Inga project

January 20, 2023January 22, 2023 Constance

The Grand Inga project has hit a roadblock despite the signing of a memorandum of understanding in September 2020 with Fortescue Metals Group Ltd. to develop what could be the largest hydroelectric project in the world. President Felix Tshisekedi expressed his disappointment with the situation during an interview with Bloomberg on January 19th, 2023, at the World Economic Forum in Davos. He believes that in order to move forward, Fortescue should bring in other investors, particularly from Africa, and potentially scale back their ambitions to accelerate the project’s development. “We… Read More Here