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Ivanhoe awarded new exploration rights next to Platreef project on South Africa’s Bushveld Complex 1 Copper Exploration Gold New Mining Projects 

Ivanhoe awarded new exploration rights next to Platreef project on South Africa’s Bushveld Complex

Janet
Ivanhoe Mines has been granted three new highly prospective exploration rights covering total surface area of 80 square kilometres adjacent to the company’s Platreef project in Limpopo province, South Africa. Platreef is a palladium, rhodium, nickel, platinum, copper and gold development project that is 64% owned by Ivanhoe. A 26% interest is held by Ivanhoe’s broad-based, black economic empowerment (B-BBEE) partners, which include 20 local host communities with approximately 150,000 people, project employees and local entrepreneurs. A Japanese consortium owns the remaining 10% interest. The project hosts a thick, underground… Read More Here
More than 80,000 tons of cobalt produced in 8 months by the mining industry-DRC 2 Cobalt Mining in DRC 

More than 80,000 tons of cobalt produced in 8 months by the mining industry-DRC

Janet
The Democratic Republic of the Congo produced 80,752 tons of cobalt between January and August 2022 compared to 59,876 tons of cobalt in the same period in 2021, according to the Condensed statistical information of the Central Bank of Congo for the month of October 2022. Having already achieved a monthly production of 10,000 tons of cobalt in the first 8 months of this year, the DRC mining industry is on track to cross the milestone of 100,000 tons of cobalt in 2022. Note that the Democratic Republic of the… Read More Here
DRC mining industry produced 1.5 million tonnes of copper at the end of August 2022 3 Copper Mining in DRC 

DRC mining industry produced 1.5 million tonnes of copper at the end of August 2022

Janet
The mining industry in the Democratic Republic of Congo produced 1 million 576924 tonnes of copper during the first 8 months of 2022 against 1 million 116232 tonnes in the same period in 2021, i.e. a production increase of 41%, inform Central Bank of Congo data taken from the October 2022 Digest of Statistical Information. Of this volume of production recorded by the mining industry, Gécamines, which is the public company, produced only 2,217 tonnes of copper. This does not even represent 1% of the total volume of copper produced in… Read More Here
First Quantum Minerals Reports Third Quarter 2022 Results 4 Mining in Zambia Copper Mining Companies 

First Quantum Minerals Reports Third Quarter 2022 Results

Janet
First Quantum Minerals on Tuesday reported substantially lower third-quarter financial results, citing margin compression because of a declining copper price and cost inflation. The Canada-headquartered company’s adjusted earnings fell from $337-million in the second quarter, to $96-million in the third quarter, while copper C1 cash costs increased by $0.08/lb to $1.82/lb. “The headwinds from recessionary concerns and broad cost inflation have led to substantial margin compression across the industry. In the longer term, we continue to see structural upside in our markets from the ongoing challenges of bringing on new… Read More Here
GoviEx moves closer to being a uranium producer by 2025 5 International Mining in Zambia Uranium 

GoviEx moves closer to being a uranium producer by 2025

Janet
GoviEx Uranium has closed its previously announced bought deal private placement financing which includes a partial exercise of the over-allotment option, at a price of C$0.22 per Unit for aggregate gross proceeds of C$10,166,860. Each unit consists of one Class A common share of the company and one-half of one Common Share purchase warrant. Each Warrant entitles the holder thereof to purchase one common share at US$0.24 until October 25, 2025. The company expects to close an additional tranche of units on the same terms as the Private Placement in… Read More Here
Copper price jumps as dollar eases 6 Copper International 

Copper price jumps as dollar eases

Janet
Copper prices rose on Wednesday buoyed by a weaker dollar amid hopes the pace of US interest rate hikes would slow down. The dollar wallowed near a three-week low versus major peers as more signs of economic weakness in the United States fanned speculation about a less hawkish Federal Reserve. Copper for delivery in December rose 3.8% on the Comex market in New York, touching $3.52 per pound ($7,744 per tonne). The most-traded November copper contract on the Shanghai Futures Exchange was up 0.1% to 63,050 yuan ($8,650.02) a tonne. “The… Read More Here
Gold price rebounds to 2-week high on Fed relief hopes 7 Gold International 

Gold price rebounds to 2-week high on Fed relief hopes

Janet
Gold prices rose to a two-week high on Wednesday as the US dollar and Treasury yields slipped on expectations that the Federal Reserve would temper its aggressive rate-hike stance from December. Spot gold rose 1% to $1,668.92 per ounce by 10:50 a.m. ET after touching its highest since October 13. US gold futures were up 0.8% to $1,669.90 per ounce in New York. Meanwhile, the dollar extended losses to a more than one-month low against its rivals, making gold less expensive for other currency holders. Benchmark US 10-year Treasury yields… Read More Here
Consider industrial mining investment outside of Greater Katanga! (Grandstand)-DRC 8 Mining in DRC Cobalt Copper Lithium 

Consider industrial mining investment outside of Greater Katanga! (Grandstand)-DRC

Janet
The DRC is a geological scandal. There is gold, cobalt, copper, lithium, coltan, etc. These natural advantages are reflected in particular by the country’s positive growth rate, driven largely by the mining sector. However, on closer inspection, this potential seems to me to be under-exploited. Indeed, when I analyze the State of mining titles dated July 2021, it appears that out of the 388 active mining titles belonging to private entities, 245, or 63% are located in the provinces of Upper Katanga and Lualaba. The western provinces where there are however traces of minerals… Read More Here
All mining products exported from the DRC are down this week on the international market 9 Copper Cobalt Mining in DRC Zinc 

All mining products exported from the DRC are down this week on the international market

Janet
The general trend of mining products exported from the Democratic Republic of Congo (DRC) is bearish this week over the period from October 24 to 29, 2022. This is reported by the National Commission on Price Lists of the Ministry of Foreign Trade. According to this report, cobalt, which had for several weeks maintained its price above 51,000 USD per ton, should drop slightly this week to 51,260 USD per ton against 51,261.50 USD per ton last week. i.e. a slight drop of around -1.5 USD. On the same market,… Read More Here
In the red this week, the price of a tonne of tin would be down by 492 USD 10 Mining in DRC Tin 

In the red this week, the price of a tonne of tin would be down by 492 USD

Janet
Tin, one of the main mining products exported from the Democratic Republic of Congo (DRC), is expected to suffer a significant drop this week on the international market. This is what emerges from the communiqué of the experts of the Congolese Government of the National Commission of Mercuriales for the week from October 24 to 29, 2022. According to these experts, tin should fall to 20,094.00 USD per tonne this week against 20,586.00 USD per tonne last week, a negative gap of -492 USD. During this week, the general trend… Read More Here

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