Gold - Copperbelt Katanga Mining

Will Africa and the DRC Turn the Lithium Rush into a Development Opportunity?

September 8, 2023September 8, 2023 Constance

Africa holds 30-75% of the world’s reserves of lithium, phosphate, copper, chrome, manganese, gold, platinum, diamonds, and aluminum. Some of these minerals, such as lithium, are essential for what is known as the energy transition, the shift from an economy based on gas and oil to one based on renewable sources. Zimbabwe possesses the largest lithium reserves in Africa, which are also the fifth-largest in the world. In 2018, Zimbabwe and Namibia were among the top ten global lithium producers. Zimbabwe is expected to meet 20% of the global demand… Read More Here

Mining in DRC Cobalt Copper Gold

DRC Gold Prices Surge: One Gram Now Valued at $62.19 USD This Week

September 8, 2023September 8, 2023 Constance

After copper and cobalt, the Democratic Republic of Congo also wants to focus on gold ore to increase its public revenue. On the international markets, gold should experience a significant price increase during this week, inform the projections of the National Commission of Mercurial Prices of the Ministry of Foreign Trade of the Democratic Republic of Congo (DRC). A gram of gold is expected to trade at USD 62.19 this week compared to USD 61.31 per gram last week. From one week to one, this ore should record an increase… Read More Here

Mining Personality Copper Gold Mining in Zambia

Vedanta Explores Chris Griffith as Potential Head of African Base Metals Business

September 6, 2023September 6, 2023 Constance

Vedanta Resources is considering appointing former Gold Fields boss and Anglo American executive Chris Griffith as head of its African base metals business, according to people familiar with the matter. Indian billionaire Anil Agarwal’s Vedanta owns zinc mines in South Africa and neighboring Namibia, which will form the base-metals portfolio with Zambia’s Konkola Copper Mines. Griffith quit as Gold Fields CEO in December after the company’s failed attempt to take over Canada’s Yamana Gold Inc. He previously headed the platinum and iron-ore businesses of Anglo American, in which Agarwal was once the biggest shareholder. Talks are ongoing, and no final decisions have been made by either party on… Read More Here

Gold Mining in DRC

DRC Nobel Peace Prize Winner Criticizes Primera Gold Contract

September 1, 2023September 1, 2023 Constance

The 2018 Nobel Peace Prize laureate, Dr. Denis Mukwege, strongly criticized the contract between the DRC and Primera Gold during a rally in Bukavu organized by Catholic youth on Sunday, August 27th. Addressing a crowd of mostly young people, Dr Mukwege expressed concern about the exploitation of Kivu’s resources: “It is unacceptable that a company obtains a monopoly on Kivu’s gold for a nominal fee, depriving thus the Congolese have colossal incomes.” The firm, which is said to have exported more than 3,000 kilos of gold in one half-year, the… Read More Here

International Gold Mining Policy

Mali’s New Mining Code reinforces State participation

August 31, 2023August 31, 2023 Constance

Mali’s interim President, Assimi Goita, has promulgated a new Mining Code that will allow the military-led government to increase ownership or shareholder control of gold concessions and recover what it declares to be a large shortfall in production revenues. The new code, signed on state television on Monday night, will allow state and local investors to take up to 35 percent stakes in mining projects, up from 20 percent today, and could more than double the contribution of the sector to the Gross Domestic Product, to around 20 percent, indicated… Read More Here

Mining in DRC Gold Regional conflict

DRC: Ongoing Debate Over Government Grants to Primera Sparks Controversy

August 30, 2023August 30, 2023 Constance

The discussion surrounding the substantial benefits accorded by the Democratic Republic of Congo’s government to “Primera,” a United Arab Emirates-based company, remains unresolved, with a written inquiry from National Deputy Alfred Maisha rekindling the conversation nearly a year later. While Alfred Maisha, a representative from Bukavu Ville in South Kivu, asserts that the DRC is losing ground in this matter, the government’s perspective diverges. They view this initiative as a promising alternative to the systemic exploitation of raw materials in the eastern part of the DRC. André Wameso, Deputy Chief… Read More Here

Gold International

Gold Discovered at Mauritania’s Tijirit Mine

August 30, 2023August 30, 2023 Constance

Canadian mining company Aya Gold & Silver has made a sizeable gold discovery at the company’s Tijirit project, located in northern Mauritania. As part of the company’s recent surveys, results of a 25,176-meter drilling campaign have reportedly confirmed a high gold content. Reverse circulation and diamond drilling were the two types of drilling methods used by the Canadian mining company, measuring depths of 22,067 meters and 3,109 meters, respectively. One of the most noteworthy findings was from drill hole T23RC155, which revealed a concentration of 10.40 grams of gold per ton (g/t)… Read More Here

Gold Battery Metals International Nickel

Sibanye-Stillwater cuts gold, nickel and PGMs production for 2023

August 30, 2023August 30, 2023 Constance

SIBANYE-Stillwater announced cuts to production guidance for gold, nickel and platinum group metals (PGMs) owing to operational mishaps, a strike, and lower metal prices. Publishing his firm’s interim results for the six months ended June 30, Sibanye-Stillwater CEO Neal Froneman said steps had been taken to “minimize” the events. “The operating environment has been … demanding, with regional factors in our operating jurisdictions posing significant challenges,” he said. New gold production guidance of 625,000 to 660,000 ounces was 16% to 17% lower than forecast at the beginning of the year following a shaft… Read More Here

Mining in DRC Artisanal mining Economy Gold

Nicolas Kazadi: DRC’s Artisanal Gold Export Tax Cut to 0.5% “Necessary”

August 30, 2023August 30, 2023 Constance

Since the close of 2022, the Democratic Republic of Congo (DRC) has witnessed a decrease in the tax rate for the export of artisanal gold, dropping from 1.5% to 0.5%. According to the arguments put forward by the Congolese Minister of Finance, Nicolas Kazadi, during the press briefing on Monday August 28, 2023, this measure was necessary in the context of non-competitive or even confiscatory taxation. “At the end of 2021, during the preparation of the 2022 budget, the Government of the Republic had taken the initiative to request that… Read More Here

Mining in DRC Economy Gold

DRC Finance Minister Nicolas Kazadi Refutes Deputy Alfred Maicha’s Allegations on Primera RDC

August 30, 2023August 30, 2023 Constance

The Minister of Finance of the Democratic Republic of Congo (DRC), Nicolas Kazadi, rejected outright the allegations of the national deputy Alfred Maicha on the Primera RDC file. Facing media professionals during the briefing organized on Monday August 28, 2023, Minister Kazadi explained that the creation of the Primera RDC joint venture is part of the high-level strategy for a dual objective: both to recover economic sovereignty , but also to fight against the mining fraud which fuels the armed conflicts in the East of the country. While refuting the… Read More Here