Mining Companies - Copperbelt Katanga Mining

Top 50 mining companies rise in value by $ 600 billion despite covid-19 effects

April 10, 2021April 10, 2021 admin

Despite falling gold prices, high copper and iron ore prices took MINING.COM’s ranking of the world’s 50 most valuable miners to a new high of $ 1.35 trillion at the end of the first trimester. The MINING.COM Top 50 * Most Valuable Mining Companies added a combined $ 50 billion in market capitalization over the three months to end of March, a sharp slowdown from previous quarters, commodities rally cools and gold is suffering from its worst first trimester in decades. Measured since the peak of the pandemic in March-April last year,… Read More Here

Mining Companies Mining in Zambia

FQM reveals innovation culture behind its success

April 9, 2021April 9, 2021 admin

Fluctuating commodity prices, unstable taxes and the outbreak of COVID-19 have been the significant challenges faced by the mining sector. Despite the many obstacles, First Quantum Minerals (FQM) has managed to remain viable and increase production. However part of what has helped sustain the mine through the hardships is its insistence in making innovation a critical pillar of its operations, a particularly important factor given low ore grades, accompanying low margins, and the need for efficiency and economies of scale to maintain profitability. “We believe that innovation is an unreplaceable… Read More Here

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Barrick’s Strong Balance Sheet and Sustainable Profitability Continues to Support Its Ten-Year Business Plan and Long-Term Success

April 3, 2021April 3, 2021 admin

Despite the challenges posed by the global Covid-19 pandemic, Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) (“Barrick”) has emerged even stronger and made significant progress towards becoming the world’s most valued gold company since its transformational merger with Randgold Resources only two years ago, says Executive Chairman John Thornton in the company’s 2021 Information Circular published today. Led by President and Chief Executive Officer Mark Bristow, the Barrick team built on 2019’s excellent performance by capitalizing fully on the higher gold price, delivering on the company’s production guidance, and ending 2020 with one… Read More Here

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First Quantum Minerals spends US$1.65 billion in Zambia in 2020

April 1, 2021April 1, 2021 admin

Zambia’s largest mining company is forging ahead in its quest to engage more local people in its supply chain to strengthen Zambian-owned businesses and boost the local economy. The company procured US$1.65 billion (K36.3 billion) of goods and services from companies registered in Zambia in 2020, representing 85% of the total spending by its two mines: Kansanshi in Solwezi and Sentinel in Kalumbila. Last year’s figures – which include local procurement of fuel, electricity and equipment from local agents – bring to US$4.49 billion the total spent locally in the… Read More Here

Mining Companies Mining in Zambia

Glencore confirms completion of Mopani stake sale

March 31, 2021March 31, 2021 admin

Diversified miner Glencore has confirmed that its 81.2%-owned subsidiary Carlia Investments Corp has completed the the sale of its interest in Mopani Copper Mines to Zambian State-owned ZCCM Investment Holdings (ZCCM-IH). Glencore retains offtake rights in respect of Mopani’s production. ZCCM-IH notes in a separate statement that it is pleased that the conditions precedent to the transaction have been satisfied. “ZCCM-IH is now the holder of 100% of the issued shares in Mopani, transforming the company from an investment company to owning and operating a multibillion-dollar mining asset in Zambia. The… Read More Here

Copper Mining Companies Mining in Zambia

Jubilee earnings soar in H2

March 26, 2021March 26, 2021 admin

Rising PGM and copper prices saw earnings at rapidly growing metals recovery company Jubilee Metals more than triple year-on-year in the second half of 2020. EBITDA was £29.3 million (ZAR622 million), while revenue jumped 110% yoy for the half to £53.4 million, driven by a 127% jump in PGM revenues at the company’s South Africa operations, which it attributed to buoyant prices, a lift in throughput and operational efficiencies. PGM output surged 34% to more than 28,000 ounces in the half-year. Chrome production was up 72%, helped by a start-up… Read More Here

Mining Companies Gold

Barrick reports strong financials in 2020

March 22, 2021March 22, 2021 admin

Despite the challenges posed by the covid-19 pandemic, Barrick Gold (TSX: ABX) (NYSE: GOLD) reported ending 2020 with one of the industry’s strongest balance sheets. In its 2020 annual report, the Toronto-based miner first highlighted the fact that it increased its quarterly dividend threefold to 9 cents per share since the announcement of its merger with Randgold Resources in 2018. This means that, in the past two years, the Barrick share price has grown by 118% against a 92% increase in the GDX as of December 31, 2020. In the document, the company… Read More Here

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SOMIKA mining company threatens the lives of the populations of Katanga (investigation) – DRC

March 11, 2021March 11, 2021 admin

The Evangelical Non-Violence Action Group (GANVE), a human rights and anti-corruption NGO, published on March 08 the report of its mission to investigate allegations of pollution in the neighborhood. SOMIKA and its surroundings by the Société minière du Katanga (SOMIKA), located 9 km from downtown Lubumbashi. The GANVE organized a descent on the place, to investigate and verify the allegations of pollution as denounced by the victims consisting mainly of the inhabitants of the SOMIKA district and its surroundings. Indeed, the GANVE investigation confirms the allegations according to which SOMIKA planted… Read More Here

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Sibanye calls for mega-merger with AngloGold, Gold Fields

March 8, 2021March 8, 2021 admin

Sibanye Stillwater (JSE: SGL) (NYSE: SBGL) said on Monday that South Africa’s top gold miners should merge and create a rival to the world’s largest producers, Newmont (NYSE: NEM) and Barrick Gold (TSE: ABX) (NYSE: GOLD), or risk being acquired. Chief executive Neal Froneman said he believed that combining his company with Gold Fields (JSE, NYSE: GFI) and AngloGold (JSE: ANG) (NYSE: AU) would be in South Africa’s national interest, Johannesburg-based Business Day reported. Sibanye, formed by spinning off Gold Fields’ oldest South African mines in 2013, has been growing the business since. It first… Read More Here

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Anglo American ended 2020 stronger than expected

February 26, 2021February 26, 2021 admin

Anglo American (LON: AAL) became on Thursday the latest major miner to announce better than expected earnings in its full year results, as a broad-range commodity rally helped the miner balance out another difficult year for its diamond business and a fall in coal profits. In the first half of 2020, Anglo’s underlying earnings before interest, tax, depreciation and amortization (EBITDA) fell about 40% to $3.4 billion. Weak sales at De Beers, lockdowns that hit production in South Africa and operational setbacks in platinum and coal were the main issues that… Read More Here