Covid-19 - Copperbelt Katanga Mining

Donald Trump and Melania Tests Positive for COVID-19

October 2, 2020October 2, 2020 arnbethnic

President Donald Trump has tested positive for the coronavirus, a stunning development that came hours after he confirmed one of his longest-serving aides with whom he had recently traveled also received a positive test result. The revelation had implications for the president’s health, the administration’s response to the pandemic and also the Nov. 3 election, during which Trump has leaned on states to reopen and has claimed that the nation is “turning the corner” on the virus. “Tonight, @FLOTUS and I tested positive for COVID-19,” Trump tweeted early Friday morning. “We… Read More Here

Copper price in biggest drop since height of pandemic

October 1, 2020October 1, 2020 Janet

The copper price rally came to an abrupt halt on Thursday with the bellwether metal experiencing one of the worst one-day price drops on record. On the Comex market, copper for delivery in December fell 5.7% to $2.8595 a pound ($6,304 a tonne) amid heavy selling, with more than 2.6 billion pounds traded by 1pm in New York. It was the biggest decline since mid-March at the height of the covid-19 induced sell-off, which sent the copper price crashing to below $2.00 a pound – levels last seen during the global… Read More Here

Covid-19 Mining in Zambia

Low hanging fruit for a mining-led economic recovery in 2021 Budget

September 22, 2020September 22, 2020 Janet

In a speech delivered last week at the opening of the current sitting of Parliament, His Excellency Edgar Chagwa Lungu, set out very clearly that delivering an economic recovery “is the number one goal of my Government”. We can therefore expect to see the detail of the Government’s recovery plan – “the implementation of supportive policy measures” – set out in the forthcoming Budget speech, scheduled for Friday 25 September. In broad terms, the President’s declarations should bode well for the future of the Zambian mining industry, in his commitment “to do more… Read More Here

Covid-19 Gemstones International

Gemfields to experience large loss as pandemic hits auctions

September 16, 2020September 16, 2020 Janet1 Comment

Precious gemstones miner Gemfields announced an expected swing to an interim net loss for the six months ended on June 30 as the company had only been able to hold one sale due to the covid-19 pandemic. The company, which returned to the London Stock Exchange’s market for juniors in February, expects to report a net loss after tax of $56.7 million in the first half of 2020. The figure sharply contrasts with the $12.4 million profit reported during the same period last year. Gemfields cancelled auctions originally scheduled for May, June and August due… Read More Here

Mining in Zambia Covid-19 Economy

Feeling for the economy’s pulse | Zambia

August 30, 2020August 30, 2020 arnbethnic

Leading businesspeople and economists give their views on Zambia’s economic future post-COVID The question of how Zambia’s already weakened economy can survive the mounting fiscal pressure – exacerbated by COVID-19 – was recently examined in The Road to Recovery: A policy brief for a post-COVID Zambian economy, released by the Zambia Chamber of Mines. Many Zambians have since voiced their views on the value of its recommendations. Mining for Zambia asked Zambian business owners, economists and other experts to weigh in on the debate around what measures should be taken to put… Read More Here

Mining in Zambia Covid-19

First Quantum Minerals maintains jobs despite Covid-19

August 26, 2020August 26, 2020 Janet1 Comment

Copper, gold and zinc miner First Quantum Minerals (FQM) has maintained jobs and production at its operations in Zambia, despite sector-wide moves to cut its workforce and scale down production as a result of the Covid-19 pandemic. Speaking at a visit by Zambia Mines and Minerals Development Minister Richard Musukwa to its Kansanshi mine earlier this month, GM Anthony Mukutuma attributed the positive results to the initiatives the mine had put in place to mitigate the impact of the pandemic on its operations and workforce. “FQM has put in place a range of precautions to… Read More Here

Covid-19 Gold International

Gold price declines after hopes of a new vaccine

August 26, 2020August 26, 2020 Janet

The rally in gold, which surged to a record high nearly two weeks ago, is beginning to lose steam with hopes for a coronavirus treatment and signs of improving economies undercutting the metal’s appeal as a haven. Spot gold fell 0.6% to $1,916.61 per ounce by 11:50 a.m. EDT, while gold futures for December delivery declined 0.9% to $1,921.80 per ounce on the Comex in New York. At Friday’s market close, bullion posted back-to-back weekly losses for the first time since June, and is now headed for its fourth decline in five… Read More Here

Covid-19 International Mining in DRC

Glencore underpins cobalt prices post covid-19

August 23, 2020August 23, 2020 Janet

A year ago Glencore announced it was halting operations at its Mutanda copper-cobalt mine in the Congo, breathing life into a market that was trading at levels 70% below its peak, hit 18 months before. Given that Mutanda is the world’s largest cobalt mine and responsible for around a fifth of global output in a market of just 135kt per year, market reaction was muted. Congo dominates world cobalt production and Mutanda was responsible for 60% of the Swiss commodities giant’s annual output. While mine output has been largely undisturbed… Read More Here

Covid-19 Cobalt

China to boost cobalt reserves as virus spurs supply risks

August 19, 2020August 20, 2020 Janet

China’s state stockpiling agency has drawn up plans to buy 2,000 tonnes of cobalt after the coronavirus pandemic highlighted the fragility of supplies of the strategic mineral. The National Food and Strategic Reserves Administration could put its purchasing plan into action by the end of this year, according to two people familiar with the matter, who asked not to be identified because they’re not authoriSed to speak publicly. The move is in response to supply disruptions from top producer, the Democratic Republic of Congo (DRC), and is in line with… Read More Here

Covid-19 International

Global covid-19 update- cases approach 22 million

August 18, 2020August 18, 2020 Janet

Global: Global Covid-19 cases are rapidly approaching 22 million, with more than 21,900,000 infections, according to Johns Hopkins University. There have been more than 774,000 deaths attributed to the virus. The World Health Organization’s regional director for the Western Pacific says younger people – those in their 20s, 30s and 40s – are increasingly driving the coronavirus pandemic. Takeshi Kasai told a virtual briefing that many were unaware they had the disease. US: Los Angeles County said it is continuing to see declines in daily hospitalizations and deaths, adding to signs of… Read More Here