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Category: News in Brief

Gold Rises To 1858 USD Per Ounce 1 Gold News in Brief 

Gold Rises To 1858 USD Per Ounce

Constance
Gold extended its New Year’s rally to trade near a seven-month high on Wednesday, helped by a weaker US dollar and rising expectations of less aggressive interest rate hikes by the Federal Reserve. Spot gold was up 1.0% at $1,858.97 an ounce on Wednesday 04.01.2023 midday, its highest level since mid-June. US gold futures also gained 1.0% to $1,864.20 an ounce in New York. The US dollar index, meanwhile, fell 0.4%, making bullion cheaper for overseas investors. There is some optimism in the market ahead of the release of the Fed’s… Read More Here
Specifications Of The Hauchin Metal Launch Mining Company Valued At 1.1 Million USD-DRC 2 Mining in DRC News in Brief 

Specifications Of The Hauchin Metal Launch Mining Company Valued At 1.1 Million USD-DRC

Constance
The Provincial Minister of Mines of Haut-Katanga, Georges Mawine, and the Chinese mining company Hauchin Metal Launch (HML) proceeded to the signature of a specification which provides for the payment of 1,100,000 USD in mining royalties for the benefit of the communities affected by its mining operations. Indeed, this sum concerns the communities of the commune of Panda and the Kakontwe district in Likasi. In this specification, the company Huachin Metal Leach plans to carry out several projects of community interest with visible impact in five (5) years.These include the… Read More Here
Savannah Resources Extends Due Diligence For Mozambique Divestment 3 News in Brief International 

Savannah Resources Extends Due Diligence For Mozambique Divestment

Constance
Savannah Resources PLC  has announced the extension of the due diligence period under its agreement to potentially divest its remaining interests in Mozambique. The company, in a brief stock market statement, said that the due diligence phase would now run until 27 January 2023. It previously announced the ‘Binding Heads of Agreement’ between its subsidiary AME EAST AFRICA LIMITED and MRG Metals  Limited on 9 November 2022. The deal sees MRG acquire Mining Concession 9735C in Mozambique. Savannah noted that all other aspects of the proposed transaction remain unchanged and… Read More Here
Gécamines Produced 4,114 Tonnes Of Copper & 18,844 tonnes Of Cobalt This Year-DRC 4 Mining in DRC News in Brief 

Gécamines Produced 4,114 Tonnes Of Copper & 18,844 tonnes Of Cobalt This Year-DRC

Constance
From January to November 2022, Gécamines, a state holding company, produced 4,114 tonnes of copper and 18,844 tonnes of cobalt, according to figures provided by the Central Bank of Congo in its Digest of statistical information for the month. from December 2022. In both segments, we observe that Gécamines has increased its production volume compared to the same period in 2021 when this state-owned company produced 3,478 tonnes of copper and 13,971 tonnes of cobalt. Overall, from January to November 2022, mining companies operating in the Democratic Republic of Congo… Read More Here

Diamond Production Soar This Year, 16.6 Million Carats Produced In 11 Months-DRC

Constance
The diamond operation claims an estimated production of 16.685 million carats of diamonds in the first 11 months of 2022, according to figures from the Central Bank of Congo. While for the whole of 2021, the Democratic Republic of the Congo had produced 13.222 million carats of diamonds, it is clearly observed that diamond production is on the rise this year. Read More Here
More Than 104,000 Tons Of Cobalt Produced In 11 months-DRC 5 News in Brief Mining in DRC 

More Than 104,000 Tons Of Cobalt Produced In 11 months-DRC

Constance
The Democratic Republic of Congo produced 104,920 tons of cobalt at the end of November 2022 against 84,442 tons of cobalt at the same period in 2021, according to the Condensed statistical information of the Central Bank of Congo. This record production in 11 months even exceeds the entire production for the whole of 2021, which was 93,011 tonnes of cobalt.  Gécamines alone produced 18,844 tons of cobalt during the first 11 months of the year.  Read More Here
YAKUTUMBA & BILOZE BISHAMBUKE GROUPS CONTINUE TO FIGHT FOR CONTROL OF MINING SITES 6 Mining in DRC Mining Companies News in Brief 

YAKUTUMBA & BILOZE BISHAMBUKE GROUPS CONTINUE TO FIGHT FOR CONTROL OF MINING SITES

Constance
The Yakutumba and Biloze Bishambuke groups continue to fight for control of mining sites, according to António Guterres’ latest report on the situation in the DRC. The link between this violence and the illegal exploitation of the mineral resources of this part has been the subject of particular interest of the international community. On December 8, the Council of the European Union added Alain Goetz to the list of people subject to restrictive measures because of the situation in the DRC. He is a businessman who is the beneficial owner and former… Read More Here
The US, DRC and Zambia signs an MOU for the Electric Vehicle Battery Value Chain 7 News in Brief Battery Metals Mining in DRC Mining in Zambia 

The US, DRC and Zambia signs an MOU for the Electric Vehicle Battery Value Chain

Constance
Zambia and DRC appended their signatures to an MOU on U.S. Assistance (Investments & Technologies) to develop the DRC-Zambia Electric Vehicle the DRC-Zambia Electric Vehicle Battery Value Chain, further supporting the Minerals Security Partnership’s objectives said Secretary Antony Blinken. Does it mean a change of strategic partnership for the DRC, USA versus China? In order to build up that value chain, DRC will need to start by assessing its climate of investment in the mining industry. ”Zambia and the Democratic Republic of Congo have signed an agreement with the United… Read More Here
Ivanhoe Mines achieves operating profits of around USD 253 million in DRC and SA 8 New Mining Projects Mining in DRC News in Brief 

Ivanhoe Mines achieves operating profits of around USD 253 million in DRC and SA

arnbethnic
The Canadian mining firm Ivanhoe Mines recorded, in the second quarter of 2022, a record profit of around 351.5 million US dollars from the mining projects carried out in the Democratic Republic of Congo (DRC) and in the Republic of South Africa. According to the related report, 253.1 million USD were made in the Democratic Republic of Congo (DRC) as profits. For Kamoa-Kakula alone, a mining complex operated in the DRC by the Kamoa Copper company, Ivanhoe Mines announced the sale to a volume of 85,794 tons of copper bringing… Read More Here

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