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Category: Emeralds

Ivanhoe Development of the Congo copper mine ahead of schedule 1 Emeralds Mining in DRC 

Ivanhoe Development of the Congo copper mine ahead of schedule

Copperbelt Katanga News1 Comment
Canada’s Ivanhoe Mines (TSX: IVN) announced that the underground development at its Kakula copper mine in the Democratic Republic of Congo continues to advance ahead of schedule and that initial production is expected in Q3-2021. In a press release, co-chairs Robert Friedland and Yufeng “Miles” Sun said that more than eight kilometers of underground development have been completed, which is 1.7 kilometers ahead of plan. They also said that this month, the mining team is on pace to set a new monthly development record of 1,310 metres of advancement ─… Read More Here
Tenke Fungurume Mine 2 Cobalt Copper Emeralds Iron Mining in DRC 

Tenke Fungurume Mine

arnbethnic
Tenke Fungurume Mining SA Location Tenke Fungurume Mining SA  Province Lualaba Province Country Democratic Republic of the Congo Coordinates 10°34′06″S 26°11′44″ECoordinates: 10°34′06″S 26°11′44″E Production Products copper, cobalt History Opened 2009 Tenke Fungurume Mining SA (TFM) is one of the largest copper and cobalt producers in the Democratic Republic of Congo (DRC). Construction on the site began in the latter part of 2006, and in 2009, TFM produced its first copper. The mine has since become a vital source of income for local communities and the country by way of royalties and taxes, as well… Read More Here
Kakula Copper Emeralds Mining in DRC 

Kamoa-Kakula Project

arnbethnic
A member of Kakula’s future workforce, a miner trainee “operating” a piece of heavy equipment on a simulator at Kamoa-Kakula’s new training centre. The Kamoa-Kakula Copper Project — a joint venture between Ivanhoe Mines (39.6%), Zijin Mining Group (39.6%), Crystal River Global Limited (0.8%) and the Government of the Democratic Republic of Congo (20%) — has been independently ranked as the world’s largest, undeveloped, high-grade copper discovery by international mining consultant Wood Mackenzie. It is a very large, near-surface, flat-lying, stratiform copper deposit with adjacent prospective exploration areas within the… Read More Here
Ivanhoe’s Friedland rubbishes the ‘fiction’ that mining copper in Chile is safer than Congo       9 Emeralds Mining in DRC 

Ivanhoe’s Friedland rubbishes the ‘fiction’ that mining copper in Chile is safer than Congo      

Copperbelt Katanga News
  BILLIONAIRE mining entrepreneur, Robert Friedland, put the boot into Chile and its established major copper mining groups. Friedland, whose company Ivanhoe Mines is developing major new copper and zinc mines in the Democratic Republic of Congo (DRC), said at the Mining Indaba last week: “It’s absolutely silly to think that Chile is a safer place to mine and should have a three or four per cent discount rate and, somehow, the DRC should have a 12% discount rate. “There’s this fiction that somehow Africa is dangerous and it’s safe… Read More Here
ICMM to create international standard for tailings dams 10 Copper Emeralds International Mine Safety 

ICMM to create international standard for tailings dams

arnbethnic
The International Council on Mining & Metals (ICMM) has announced that its governing council of 27 member CEOs will establish an independent panel of experts to develop an international standard for tailings facilities for its member companies According to ICMM, this standard will be informed by a review of current global best practices in the mining industry, and beyond. The standard is expected to create a step change for the industry in the safety and security of these facilities. The details of the standard will be defined through the review… Read More Here
Budget deficit reflects mining decline in DRC 11 Copper Emeralds Mining in DRC 

Budget deficit reflects mining decline in DRC

arnbethnic
Macroeconomic researcher Fitch Solutions expects that the Congolese budget deficit will widen from an estimated 0.7% of gross domestic product in 2019 to 1.1% in 2020, owing to declining revenues from the mining sector. The Congolese mining sector has a major bearing on government revenues, accounting for about 36% of total government revenues in 2018. Fitch Solutions notes that, while tax revenue from the mining sector more than doubled in 2018, the sector is facing severe challenges in the coming quarters. In June 2019, mining revenues fell by 12% year-on-year… Read More Here
BHP becomes world’s top copper producer 12 Emeralds International 

BHP becomes world’s top copper producer

Copperbelt Katanga News
BHP Group on Monday became the world’s largest copper mine based on production after Chile’s copper commission announced a slide in output at state-owned Codelco. Hampered by declining grades Codelco production declined by 5.6% or about 100,000 tonnes  last year. Overall, Codelco, nationalized in the early 1970s, churned out 1.706 million tonnes of copper, the lowest level since 2008, when output was at 1.55 million tonnes. Last month, the world’s number one mining company, BHP, reported robust six months to end December numbers from its copper operations, including at Escondida… Read More Here
Zambia-Vedanta row escalates, minister calls company “criminal” 13 Emeralds Mining in Zambia 

Zambia-Vedanta row escalates, minister calls company “criminal”

Copperbelt Katanga News
Zambia has continued its attacks on miner Vedanta, owned by Indian mining magnate Anil Agarwal, saying the company has been involved in criminal activities, including underpaying taxes and breaking investment promises. “Zambia is a victim and it needs support,” mining minister Richard Musukwa told delegates at the African mining indaba in  Cape Town, the continent’s largest gathering of professionals from the resource extraction sector. “We deserve African and international support to make sure Vedanta pays the price.” He was referring to a bitter row with the mining company that broke… Read More Here
Scientists propose framework to mitigate mining’s impact on climate change 14 Emeralds International 

Scientists propose framework to mitigate mining’s impact on climate change

Copperbelt Katanga News
The copper industry in Chile was used as a case study because fuel consumption increased by 130% and electricity consumption increased by 32% per unit of mined copper from 2001 to 2017, largely due to decreasing ore grade. A new framework that will allow mining companies to better monitor, gather and assess emissions data, as well as to identify measurement gaps and evaluate and apply mitigation strategies, is expected to help reduce the industry’s impact on climate change. Developed by researchers at the University of Queensland and presented in a paper in Nature… Read More Here
Copper price & coronavirus: Don’t expect small SARS-like impact 15 Copper Emeralds International 

Copper price & coronavirus: Don’t expect small SARS-like impact

Copperbelt Katanga News
Downward spiral. Worker repairing machinery in Tangshan, Hebei Province, China. Image: junrong The copper price continued to recover on Thursday as investors bet on a quick bounce back in economic activity in China once the viral outbreak is brought under control. After bottoming on Monday below $2.50 a pound, the lowest since May 2017, copper has rebounded by more than 5% to trade as high as $2.6225 a pound ($5,780 a tonne) in New York on Thursday. In a note, Capital Economics says the gains may be speculative based on some investors’… Read More Here

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