Covid-19 - Copperbelt Katanga Mining

Gold price within sight of $1,800 as virus cases mount

June 29, 2020June 29, 2020 Copperbelt Katanga News

Gold prices remained stable on Monday, approaching their multi-year high reached last week as investors weigh the rise in US coronavirus cases against uncertain signs of economic improvement in some regions. Spot gold rose 0.1% to $ 1,772.53 an ounce at 12:45 p.m. ET, still in sight of $ 1,800 an ounce – a level most recently reached in late 2011. US gold futures remain largely unchanged, trading at $ 1,781 an ounce. “The current surge in coronavirus cases in most parts of the US has given the market momentum… Read More Here

Mining in DRC Cobalt Covid-19 Safety & Health

DRC to tackle child labor at mines as virus threatens spike

June 24, 2020June 24, 2020 Copperbelt Katanga News

Authorities in the southeastern heart of the Democratic Republic of Congo’s mining community are stepping up efforts to combat child labor, as it is feared that the coronavirus pandemic could lead more families to take their children to work in mines. Mining accounts for 32% of Congo’s national output and the economy has been hard hit by the pandemic, which has slowed demand for metals and other raw materials. Congo is Africa’s main producer of copper and the top global source of cobalt, accounting for two-thirds of global supplies of… Read More Here

Covid-19 Mining in Zambia

Zambia mining revenues drop 30% due to covid-19

June 19, 2020June 19, 2020 Copperbelt Katanga News

Mining companies in Zambia, Africa’s second copper producer, had a 30% drop in sales in the three months to April due to the Covid 19 pandemic, and the fallout could continue for at least 12 months, the mine chamber said Thursday. Severe global movement restrictions have hit mining supply chains and hindered copper exports and sales, the mining industry association said, affecting corporate revenue and the treasury. The metal is Zambia’s most important foreign exchange earner and a key driver of tax revenue. “The decline in mining revenue is reflected… Read More Here

Covid-19 Mining in DRC Safety & Health

Congo mining provinces impose new covid-19 lockdowns

June 17, 2020June 18, 2020 Copperbelt Katanga News

Authorities in south eastern mining heartland of the Democratic Republic of the Congo had announced temporary closures on Tuesday to extend coronavirus testing and prevent worsening of a worrying situation, the governors said. In the Central African nation, cases have multiplied despite short-term closures in some urban centres and restrictions on movements. A lack of local testing has fueled concerns that the virus will go undetected. Jacques Kyabula Katwe, governor of the mineral-rich Haut-Katanga province, said a new 48-hour ban will take effect this weekend at the Lubumbashi mining centre… Read More Here

Coal Cobalt Covid-19 Mining in DRC

mining companies warned against violation of human rights

June 13, 2020June 14, 2020 Copperbelt Katanga News

WITH the corona virus still a major disruption to most of the world, the pandemic has caused a lot of damage on many sectors. Trade unions have accused Mining companies operating in the Democratic Republic of the Congo (DRC) of violating mining workers’ rights in view of ending the corona virus. The mining companies have been advised to end confinement policies aimed at slowing the spread of the Corona disease as the practice infringes on human rights. Miners in the Democratic Republic of Congo are being forced to remain at… Read More Here

Copper Covid-19 Global markets Mining in DRC

Artisanal mining to help sustain global markets

June 11, 2020June 11, 2020 Copperbelt Katanga News

Formalising artisanal mining has become a challenge that most mining industries are facing today especially those that in remote areas. Many organisations have since stepped in to help curb the situation. The organisations are focusing on making artisanal and small- scale mining (ASM) safer and more productive, since it is here to stay and is sustaining many communities, particularly in African areas that have the most mining operations. Speaking during the June 9th Webinar about formalising the ASM in the Democratic Republic of the Congo(DRC) in the lead-up to the… Read More Here

Covid-19 Mining in DRC

Strike ends at Tenke Fungurume after workers agree “isolation bonus” following lockdown

May 30, 2020May 30, 2020 arnbethnic

A STRIKE at China Molybdenum’s Tenke Fungurume Mining (TFM) was bought to an end after only a day on Sunday, said Reuters citing Willy Kitobo Samsoni, mines minister for the Democratic Republic of Congo (DRC), where the mine is situated. The strike was ended after management and workers agreed a compromise over compensation for working in isolation for two months due to COVID-19. The Chinese mining firm placed the TFM copper and cobalt mine in isolation from March 24 to try to protect the site from the virus. Essential staff… Read More Here

Covid-19 Gold International

AngloGold shuts Mponeng mine after finding 164 coronavirus cases

May 25, 2020May 27, 2020 arnbethnicCOVID-19, Gold, Mponeng

AngloGold Ashanti’s Mponeng mine in South Africa has been temporarily closed after 164 workers tested positive for the coronavirus, the gold miner said in a statement on Sunday. The mine, the deepest in the world, only reopened in April after being shut under a nationwide lockdown and had been operating at around 50% capacity. It accounted for around 7.4% of the company’s total gold production in 2019. THE MINE, THE DEEPEST IN THE WORLD, ONLY RE-OPENED IN APRIL AFTER BEING SHUT UNDER A NATIONWIDE LOCKDOWN AngloGold Ashanti, which also operates mines… Read More Here

Mining in DRC Covid-19

Congo’s Chamber of Mines head sees more M&A due to covid-19

May 25, 2020May 25, 2020 arnbethnicChamber of Mines, DRC

The coronavirus pandemic will drive a “survival of the fittest” in Democratic Republic of Congo’s mining sector and trigger an increase in deal-making, the president of the DRC Chamber of Mines said on Wednesday. “I see an increase in M&A activities post-covid-19 where the big players are shopping around for opportunities,” Louis Watum, who is also managing director of DRC operations at Ivanhoe Mines, said in a virtual panel discussion. Boris Kamstra, director of Pangea Exploration and executive director at Alphamin Resources, which manages the Bisie tin mine in Congo’s… Read More Here

Covid-19 Economy Mining in DRC

The Covid-19 challenge for the Democratic Republic of Congo mining sector

May 21, 2020May 21, 2020 arnbethnic

The Democratic Republic of Congo (DRC) is one of the countries in sub-Saharan Africa most affected by COVID-19. Unlike other countries, the DRC is facing not only the pandemic, but also the resurgence of Ebola in North Kivu. Added to these crises is an acute economic crisis. The World Bank (WB) and the International Monetary Fund (IMF) are predicting the recession of sub-Saharan African economies, not seen since 1970, and that they will need billions of dollars to stimulate their economies. The importance and vulnerability of the extractive sector The… Read More Here