International - Copperbelt Katanga Mining

Eleven people killed in China coal mine explosion

August 28, 2023August 31, 2023 Constance

A coal mine explosion in China’s Shaanxi province claimed the lives of 11 people. The incident took place last week while a total of 90 miners were present at the shaft, according to the provincial Department of Emergency Management. The site of the blast was the city of Yan’an in northern China, a mountainous region in the Shaanxi province where mining has been a key economic activity. At the time of the explosion, nine people were trapped inside and “found with no vital signs”, state broadcaster China Central Television… Read More Here

Gold International

Tanzania to Establish National Gold Reserve in 2023

August 28, 2023August 28, 2023 Constance

Tanzania’s decision to establish a National Gold Reserve to strengthen its local currency comes at a time when global central banks are turning to gold as a safe-haven asset. As Africa’s fourth-largest gold producer, Tanzania’s focus on retaining its gold output within the country raises questions about the significance of such a move for its economy. This Article explores the dynamics of the Tanzania gold market, the benefits and disadvantages of gold exports, and the potential impact of establishing a National Gold Reserve on Tanzania’s economy. Tanzania’s Gold Market and… Read More Here

Economy International

China to Collaborate with African States for Enhanced Development Strategies

August 27, 2023August 27, 2023 Constance

China is ready to support Africa in strengthening the articulation of their development strategies. Within the framework of the Belt and Road Initiative and the Forum on China-Africa Cooperation (FOCAC) and in synergy with the AU Agenda 2063, China will strengthen dialogue and communication with the Africa at different levels and will support African integration institutions like the AfCFTA Secretariat, the Pan-African Payment and Settlement System and the African Broadcasting Union in establishing cooperation mechanisms with China. These are the assurances given by Chinese President Xi Jiping in his speech… Read More Here

International Economy

15th BRICS summit: South Africa Urges China for Economic Paradigm Shift

August 27, 2023August 27, 2023 Constance

After the failures noted in the Chinese economic approach relying on the development of infrastructure in underdeveloped countries in Africa following the “Belt and Road” initiative led by Chinese President Xi Jinping in 2013, several African countries have called China to reorient its economic paradigm towards the local industrialization of African countries. The announcement was reported by the head of African Affairs for China, Wu Peng, during a press briefing held on Tuesday, August 22, 2023, in South Africa, on the sidelines of the 15th BRICS summit. “African integration is… Read More Here

International Battery Metals

Nigeria’s Ministry of Transportation Plans Electric Car Fleet Acquisition

August 27, 2023August 27, 2023 Constance

Nigeria’s Ministry of Transportation has revealed its ambitious plan to acquire a fleet of electric cars in an effort to improve transportation effectiveness and address rising concerns about fuel costs. This change is anticipated to improve commuter convenience countrywide as well as cut carbon emissions. Sa’idu Alkali, the recently sworn-in Minister of Transportation made the announcement in Abuja after returning to work last week. He claims that the purchase of these cars would help to lower the high transportation costs that have resulted from the removal of fuel subsidies. “The… Read More Here

International Gold News in Brief

Barrick Declares Q2 Dividend

August 27, 2023August 27, 2023 Constance

Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) has announced the declaration of a dividend of $0.10 per share for the second quarter of 2023. The dividend is consistent with the Company’s Performance Dividend Policy announced at the start of 2022. The Q2 2023 dividend will be paid on September 15, 2023 to shareholders of record at the close of business on August 31, 2023. “As a result of the continuing overall strength of our business and balance sheet, we have maintained the distribution of a robust base dividend to our shareholders, while our… Read More Here

International Mining Equipment

Rokbak puts sustainability at heart of new machinery

August 25, 2023August 25, 2023 Constance

Rokbak, a manufacturer of off-highway articulated haulers that are used in mining, quarrying, and construction applications around the world, has said that its latest products are designed keeping sustainability in mind. The value of the new equipment is around US$9mn and will be completed through the company’s Namibian subsidiary, Trigon Namibia. It will comprise the majority of the underground mining fleet on location ahead of production ramp up which is expected in April 2024. The company said that it has a commitment to minimizing its ecological footprint and its sustainability goals showcase a… Read More Here

International Mining Equipment

Cat delivers highly-durable wheel loader for enhanced operation

August 25, 2023August 25, 2023 Constance

Cat has continued its dedication to delivering capable machinery to the world market with the release of the 988 GC Wheel Loader, designed specifically for quarry and mining applications. The latest loader has been produced to offer up to 5% less fuel consumption and up to 15% lower maintenance costs than the Cat 988K, with highly-durable structures built for multiple life cycles. Built on the common Cat Large Wheel Loader platform, its full box section rear frame resists torsional shock and twisting forces, while its front frame is redesigned to withstand… Read More Here

International Gold Mining revenue

Thor Explorations reports good interim revenue, earnings performance

August 25, 2023August 25, 2023 Constance

Gold miner Thor Explorations saw good developments across its Segilola gold mine, in Nigeria, and its mineral exploration properties located in Nigeria, Senegal and Burkina Faso for the three and six months to June 30, president and CEO Segun Lawson says. “Operations are performing well, with the processing plant still operating above nameplate design. The company posted strong revenues for half one of $81-million, with earnings before interest, taxes, depreciation and amortisation (Ebitda) of $35.1-million and a net profit of $12-million for the same period,” he points out. Gold production for the period totalled 23 078 oz. All main… Read More Here

International Lithium

Premier African Minerals Raises £4M for Zimbabwe’s Zulu Project Advancement

August 25, 2023August 25, 2023 Constance

Aim-listed Premier African Minerals has announced a placing and subscription to raise £4-milllion before expenses for the ongoing Zulu lithium and tantalum project pilot optimisation, in Zimbabwe, where the company is targeting revenue-generating production by November. In particular, Premier anticipates using the proceeds to meet the costs associated with the interim mill installation and associated thickener that is expected to collectively increase production to about 50% of design capacity from October; ongoing pit development to clear the weathered zone; and general operational costs to cover the current interim period until the end of November. “Based… Read More Here