Precious Metals - Copperbelt Katanga Mining

Zambia Police Impound 60 Tonnes of Suspected Sugilite in Luapula Province Operation 1

In a significant operation in Mansa district of Luapula Province, the local police have made a breakthrough in combating illegal mining activities. Acting on intelligence information, law enforcement agents apprehended a total of 20 individuals linked to the illicit extraction of suspected Sugilite ore. The operation, which took place on October 3, 2023, between 17:00 and 22:00 hours, saw the impoundment of crucial equipment and vehicles believed to be involved in the illegal mining operation. Among the impounded assets were a tipper truck carrying suspected Sugilite mineral ore, a Toyota… Read More Here

Mining in DRC Artisanal mining Precious Metals

Tshela to Become a Center for Trading Precious Materials in Kongo Central

March 22, 2023March 22, 2023 Constance

The province of Kongo Central is committed to reviving its mining industry. This is evidenced by the adoption by the Provincial Council of Ministers, on March 15, 2023, of the project to create a trading center for precious materials in the city of Tshela. This decision is part of the implementation of the provincial strategic plan for the revival of the mining industry. Note that the purpose of the new trading center is to meet several needs. This includes cleaning up the trade sector for artisanal mining minerals. It is also a… Read More Here

International Precious Metals

Gemfields attempts to mitigate virus effect with mini-auctions

November 11, 2020November 11, 2020 Janet

Precious gemstones miner Gemfields (LON: GEM) (JSE: GML) said on Tuesday it is unable to say when it might be able to host its next auction, or generate meaningful revenue from sales, due to the “severe” impact of covid-19 restrictions. The company, which returned to the London Stock Exchange’s market for juniors this year, has only been able to host one auction so far in 2020. Held in February in Lusaka, the sale of commercial quality emeralds yielded $11.5 million. In comparison, Gemfields made $200 million in 2019 from auctions, which accounted for 93% of total group… Read More Here

Gold Mining in DRC Precious Metals

Billions of gold being smuggled-DRC

June 15, 2020June 18, 2020 Copperbelt Katanga News

At least 1.1 tonnes of gold mined in the Democratic Republic of the Congo was smuggled into countries along the eastern border last year, costing the impoverished nation’s tax revenue in the millions and financing conflicts and criminal networks, according to a report by the United Nations expert group Nations shows. Official Congo gold exports, made by artisanal miners, are almost unrelated to reality, the report said, highlighting Uganda, Burundi, Rwanda, the United Arab Emirates and Tanzania as some of the most common destinations for precious metals. Citing multiple smugglers’… Read More Here

Platinum Precious Metals

ZIMPLATS Permitted to Operate Despite Zimbabwe 21day Lockdown

April 3, 2020April 3, 2020 arnbethnicZimbabwe

The subsidiary of Impala Platinum (Implats), Zimplats, has been given permission to continue operating in Zimbabwe, although the country is in lockdown for 21 days from March 27 to midnight on April 19. In accordance with the Zimbabwean government directive of March 27 and a subsequent complementary statement by the Minister of Mining and Mining Development Winston Chitando on March 29, Zimplats applied for permission to continue operating under agreed precautionary measures. The permit was granted and allowed mining and processing to continue relatively uninterruptedly during the lockdown. Meanwhile, Zimplats… Read More Here

Cobalt Copper Gold International Iron Precious Metals

LME Offers Recognition to Artisanal Mining but with Caution

January 28, 2020January 29, 2020 arnbethnic

Earlier last year, the London Metal Exchange announced plans to accept supplies from small-scale miners to ensure that those who rely on artisanal mining for a living can trade internationally. Some say this would help legitimize the troubled industry, while others believe it will lead to further illegal activities and human rights violations. Who is right? We’re examining. The London Metals Exchange’s (LME) new roadmap for responsible metal sourcing was released in October last year. Not only did she advocate transparency across the supply chain, she also confirmed that she… Read More Here

Copper International Mining in DRC Mining in Zambia Precious Metals

Global copper market to see another year of volatile prices

January 23, 2020January 23, 2020 arnbethnic

As we look to 2020, copper is faced with a finely balanced market. For now, positive investor sentiment around copper’s fundamentals is supporting higher prices. Stronger demand growth is underpinned by new semis capacity, while mine supply growth will be reliant on additions from both projects and existing mines. Wood Mackenzie highlights 5 key trends to watch in 2020 Meanwhile, the recent approval of new copper scrap re-categorisation standards in China could yet determine the mix of copper raw material imports into the country and influence global scrap dynamics. Red… Read More Here

International Precious Metals

Rio Tinto readies to close world’s biggest diamond mine

January 20, 2020January 20, 2020 arnbethnic

The Argyle mine, in remote Western Australia, accounts for 90% of worldwide pink diamond production. (Image courtesy of Dan Nelson | Flickr.) Rio Tinto’s (ASX, LON, NYSE: RIO) iconic Argyle mine in remote Western Australia, the world’s biggest and the main global source of high-quality pink diamonds, will close in the fourth quarter this year, potentially pushing prices up and spurring exploration. The planned closure, the company said, will impact its total diamond output for the year. Rio now expects to produce between 12 and 14 million carats of rough diamonds in 2020, down… Read More Here

Gold Mining in DRC Precious Metals

Struggles faced by Africa’s new gold refineries

January 19, 2020January 19, 2020 arnbethnic

In a refinery just outside Uganda’s main airport, workers slip bars of freshly refined gold into clear plastic bags sealed with a sticker of the national flag — black, yellow and red — and the label “Ugandan’s Treasure.” Uganda produces little gold of its own. Alain Goetz, who set up the refinery, says that by branding gold from abroad as Ugandan, the operation is merely imitating others — for example, the Swiss don’t mine the gold they refine in Switzerland. A pink building guarded by dogs at Entebbe on the… Read More Here

Copper Mining in DRC Mining in Zambia Precious Metals

Copper juniors moving towards new area play

January 19, 2020January 19, 2020 arnbethnic

Area plays, where one company makes a discovery then other companies rush in to stake all around them, are at the very foundation of junior markets. Some noteworthy area plays are Hemlo in 1982, Eskay Creek in 1990, Lac de Gras in 1992, Voisey’s Bay in 1995 and the White Gold Rush in 2010. I alerted my readers to the developing gold rush in Canada’s Yukon Territory and said, in my opinion, buying Underworld Resources, Atac Resources and Kaminak Gold over the winter of 2009-10 and holding till fall 2010… Read More Here