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In 2023, The Price Of Gold Will Partly Depend On The Evolution Of Inflation (report) 1 International Gold 

In 2023, The Price Of Gold Will Partly Depend On The Evolution Of Inflation (report)

Constance
One of the conclusions of the World Gold Council through its report published on December 2022 on the outlook for the market in the coming months informs that in 2023, one of the signs to be watched by the Global gold market players will be inflation again. According to the report, the decline in inflation should weaken the US dollar and benefit the yellow metal. Experts say that the successive hikes in the US Federal Reserve’s key rates have indeed helped to strengthen the US dollar and made bond yields more… Read More Here
3 Trucks Smuggling Lithium Detained At Beitbridge Boarder-Zimbabwe 2 International Lithium 

3 Trucks Smuggling Lithium Detained At Beitbridge Boarder-Zimbabwe

Constance
Beitbridge Boarder post Yesterday intercepted a consignment of lithium ore on three haulage trucks belonging to one Bernard Tafadzwa Mnangagwa. The ore was being smuggled to South Africa and was declared as manganese, it is alleged. The government recently banned the exports of raw lithium with immediate effect in an effort to value-add minerals and support local production and employment creation. The ban was effected through STATUTORY INSTRUMENT (S1) 213 OF 2022 titled Base Mineral Export Control (Unbeneficiated Lithium Bearing Ores) Order 2022. Officer commanding Beitbridge police district, Chief Superintendent… Read More Here
London Metal Exchange Ends Chaotic Year With Metal Stockpiles Perilously Low 3 International Copper 

London Metal Exchange Ends Chaotic Year With Metal Stockpiles Perilously Low

Constance
The London Metal Exchange will enter 2023 with the smallest available warehouse stockpiles in at least 25 years, setting the stage for future squeezes and spikes if demand turns out stronger than expected. Available inventories of the six main metals traded on the LME plunged by two thirds in 2022, with aluminum’s 72% decline accounting for the bulk of the drop, while zinc shrank by 90%. Collectively, inventories not already marked for withdrawal hit the lowest level in data going back to 1997 and finished the year only fractionally higher.… Read More Here
The World’s Top 5 Richest Diamond Mines 4 You got to know this 

The World’s Top 5 Richest Diamond Mines

Constance
The diamond industry was one of the winners as the world economy rebounded from the effects of the pandemic. Consumer demand for diamond jewelry grew last year, while supply remained constrained. This year, the $80 billion industry saw more turmoil as cutters, polishers and traders hunted for ways to keep buying from Russia — Russian miner Alrosa (MCX: ALRS) accounts for about a third of global rough-diamond supply. The sudden shortage of stones sent diamond prices surging, but Alrosa PJSC has revived exports to levels near where they were before the war… Read More Here
Chile Copper Production Down 5.5% In November 5 International Copper 

Chile Copper Production Down 5.5% In November

Constance
Copper output in Chile, the world’s largest producer of the metal, fell 5.5% year-on-year to 459,229 tonnes in November, the country’s statistics agency INE said. The agency said the drop was partly due to lower ore grade and operational problems affecting major companies in the sector. Some copper deposits have also been affected by less water availability, fatal accidents and maintenance issues. Chile is the world’s top copper producer and is home to global giants like Codelco, BHP, Glencore, Anglo American, Freeport and Antofagasta. Manufacturing production in the Andean nation… Read More Here
ZAMBIA ELECTRICITY SUPPLY CORPORATION TO COMMENCE LOAD SHEDDING AS WATER LEVELS IN KARIBA RESERVOIR HIT CRITICALLY LOW 6 Electricity 

ZAMBIA ELECTRICITY SUPPLY CORPORATION TO COMMENCE LOAD SHEDDING AS WATER LEVELS IN KARIBA RESERVOIR HIT CRITICALLY LOW

Constance
ZESCO has experienced a drastic reduction in available water for electricity generation at Kariba North Bank Power Station due to critically reduced water levels in the Kariba reservoir. As at 31 December 2022, the water level was at 475.60 meters above sea level, a situation that has necessitated the reduction of generation at the 1080MW Power Station facility to below 400MW, and thereby affecting the ability to meet the system load/customer power demand, especially during morning and evening peak demand periods. This inability to meet the power demand will further… Read More Here
On The London Stock Exchange, Cobalt Is Trading At USD 51,510.00 per Tonne 7 Cobalt 

On The London Stock Exchange, Cobalt Is Trading At USD 51,510.00 per Tonne

Constance
On the London stock market, the price of cobalt is recovering slightly after stagnation for several weeks. According to market trends for Tuesday, December 27, 2022, a tonne of cobalt is expected to trade at 51,510.00 USD on the London Stock Exchange. Experts from the Government of the Democratic Republic of Congo projected the price of cobalt at 51,240.00 USD against 51,248 USD in the second week of December 2022, a slight drop of around -8 usd. These projections by Congolese experts indicate that the general trend in the prices… Read More Here
Panama Rejects First Quantum’s Legal Bid To Avoid Halting Operations 8 Copper International 

Panama Rejects First Quantum’s Legal Bid To Avoid Halting Operations

Constance
The Panamanian government has rejected Canada-based miner First Quantum’s legal proceedings to avoid halting operations at the Cobre Panama mine, the Commerce and Industry Ministry said in a statement on Friday. First Quantum was notified on Dec. 21 of a government order for it to create a plan to halt operations within 10 working days, after it missed a deadline for an agreement on increasing its payments to the Panamanian government. First Quantum had notified the country about two arbitration proceedings days after the order to halt operations. A company… Read More Here
The DRC Mining Industries Produced More Than 11,544 Tonnes of Zinc in 11 Months in 2022 9 Mining in DRC 

The DRC Mining Industries Produced More Than 11,544 Tonnes of Zinc in 11 Months in 2022

Constance
The mining industries based in the Democratic Republic of Congo (DRC) have, during the eleven (11) months of the year 2022, produced 11,544 tons of zinc. This is what the summary of statistical information from the Central Bank of Congo (BCC) provides for the period under analysis. According to statistical data from the parent bank of the Democratic Republic of Congo (DRC), there was a drop in production in 2022 compared to the same period of 2021. By the end of November 2021, mining companies based in the DRC had produced… Read More Here
Savannah Resources Extends Due Diligence For Mozambique Divestment 10 News in Brief International 

Savannah Resources Extends Due Diligence For Mozambique Divestment

Constance
Savannah Resources PLC  has announced the extension of the due diligence period under its agreement to potentially divest its remaining interests in Mozambique. The company, in a brief stock market statement, said that the due diligence phase would now run until 27 January 2023. It previously announced the ‘Binding Heads of Agreement’ between its subsidiary AME EAST AFRICA LIMITED and MRG Metals  Limited on 9 November 2022. The deal sees MRG acquire Mining Concession 9735C in Mozambique. Savannah noted that all other aspects of the proposed transaction remain unchanged and… Read More Here

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