Mining Companies - Copperbelt Katanga Mining

Barrick Gold mines in Tanzania reach Tier One status

January 26, 2022January 26, 2022 admin

Barrick Gold said on Tuesday it had succeeded in taking its North Mara and Bulyanhulu gold mines in Tanzania from “moribund” to Tier One assets. Barrick, which took over the operations after re-acquiring Acacia Mining in September 2019, said they delivered a combined production of more than 500,000 ounces last year, which qualifies them as Tier One mines. To be considered in the top category, assets must have a reserve potential to deliver a minimum 10-year life, annual production of at least 500,000 ounces of gold and total cash costs per ounce over… Read More Here

New high-grade lode discovery at Kibali excites Barrick CEO

January 24, 2022January 24, 2022 admin

Gold miner Barrick Gold revealed at a media briefing in Kinshasa, in the Democratic Republic of Congo (DRC), on January 21, that underground drilling at the Kibali gold mine’s KCD orebody was defining a new high-grade lode above the base of the existing shaft infrastructure. Barrick president and CEO Mark Bristow said this was an “exciting discovery”, which could add an entirely new orebody to the existing KCD series of orebodies. He said exploration and resource conversion would continue this year to extend the life of the mine. The Kibali gold mine… Read More Here

Mining in DRC Mining Companies

DRC: Haut-Katanga, only USD 27.3 million was paid in mining royalties between 2018 and the end of August 2020 (report)

January 21, 2022January 21, 2022 admin

Between the year 2018 and the first half of the year 2020, sixteen (16) mining companies operating in the province of Haut-Katanga, in the Democratic Republic of Congo (DRC) only paid a total amount of 27,315 US$0.16.38 million for mining royalty. This is what emerges from the 2018, 2019 and 1st Quarter 2020 Softer Report of the Extractive Industries Transparency Initiative (ITIE DRC). These sixteen mining companies are, according to this report, distributed in 7 territories of the said province. They paid to the plate services of the Democratic Republic of… Read More Here

Mining in Zambia International Mining Companies

Tertiary Minerals Raises GBP500,000 For Metal Exploration in Nevada & Zambia

January 20, 2022January 23, 2022 admin

Aim-listed Tertiary Minerals has raised £500 000 before expenses through a placing of over 294-million new ordinary shares in the company. The placing was arranged through the company’s joint broker Peterhouse. The placing shares are expected to be admitted to trading on Aim on or about January 24. Additionally, Tertiary is making a further 58.8-million new ordinary shares available to provide qualified Tertiary shareholders and other qualified investors with an opportunity to participate in the fundraising. The broker option shares are available to qualified shareholders or other qualified investors via… Read More Here

Mining in DRC Copper Mining Companies

Red Rock secures another victory in the DRC courts

January 19, 2022January 19, 2022 admin

Aim-listed Red Rock Resources’ VUP project joint venture (JV) partner, VUP SA, was on January 14 issued an executory judgment from the Commercial Court of Lubumbashi in the Democratic Republic of Congo (DRC), ordering it to pay $2-million as damages, with costs. This follows an earlier judgment for payment of a principal amount of $2.5-million, representing 50.1% of the payment already made by a third party to VUP SA. Red Rock’s initial claim for interest and damages of $11-million was heard on January 6. As announced in 2019, Red Rock,… Read More Here

Mining in DRC Mining Companies

DRC: The mining royalty paid by companies amounted to 951.42 million USD for the first half from 2018-2020

January 14, 2022January 14, 2022 admin

From 2018 to the first half of 2020, the mining royalty paid by companies working in this sector to the Public Treasury, the Mining Fund for Future Generations (FOMIN), the Provinces and Decentralized Territorial Entities (ETD) amounted to 951.42 million of US dollars. Of the total amount paid by companies, 589.5 million USD was paid to the National Public Treasury, 225.1 million USD paid to the Provinces and 112.5 million USD collected by the Decentralized Territorial Entities. This is what emerges from the Relaxed Report 2018, 2019 and 1st Quarter 2020… Read More Here

Mining Companies

Barrick says Mali mines unaffected by ECOWAS sanctions

January 11, 2022January 11, 2022 admin

Barrick Gold, which owns Mali’s biggest gold mine complex Loulo-Gounkoto, said on Monday its mines in the country have “thus far not been affected” by sanctions imposed by the Economic Community of West African States. The 15-state regional bloc imposed tough economic sanctions, and said it would also shut borders and sever diplomatic ties, in response to Mali’s delay in holding elections following a 2020 military coup. Barrick said its mines had sufficient stocks and stores to continue operating normally, adding however that the situation was “very fluid” and it was… Read More Here

Mining in DRC Mining Companies

DRC: Félix Tshisekedi’s stops interventionism by Minister of Finance in Tenke Fungurume’s reserve assessment file

January 7, 2022January 7, 2022 admin

The presidency of the Democratic Republic of the Congo, through the director of cabinet Guylain Nyembo, acting as president of the ad hoc committee set up by the Head of State with the aim of evaluating the partnership between CMOC (Chinan Molybdenum Co ) and Gécamines through the Tenke Fungurume joint venture, in a correspondence dated January 3, 2022 addressed to the CEO of CMOC, made an update and at the same time reframed the Minister of Finance, Nicolas Kazadi, who interfered in this matter. “It is with regret and… Read More Here

Mining in Zambia Mining Companies

First Quantum adds GM leader development programme to Zambia initiatives

January 7, 2022January 7, 2022 admin

TSX-listed First Quantum Minerals has embarked on a new GM Leadership Development Programme in Zambia to mould talented staff into capable leaders. This is expected to build on the success of the mining company’s CEO training programme that saw seven talented employees receive mentorship and training in senior management roles to drive long-term sustainable growth. “Twenty years ago, First Quantum had copper output of about 10 000 t/y and, as of 2020, we are producing more than 779 000 t, which shows the rapid rate at which we are growing. What has also become clear over the years is that… Read More Here

Mining Companies Mining in Zambia

Zambia: UPND Government to find competent investor to take over KCM- Mines Minister

January 5, 2022January 5, 2022 admin

Minister of Mines and Minerals Development, Paul Kabuswe has said that the UPND Government will find a competent investor, to take over Konkola Copper Mines (KCM) on the Copperbelt once the liquidation process of the mine comes to an end. Addressing KCM workers, who wrote a petition to President Hakainde Hichilema, Mr. Kabuswe said consultations are underway on which investor will take over the mining giant. The Mines Minister said Government is aware of the operational challenges that resulted in ruining the welfare of thousands of workers and their families.… Read More Here