CKM NEWSLETTER 03-10-2022

Zambia plans to reduce its budget deficit next year, even as it makes further cuts to copper mining royalties…

Zambia plans to reduce its budget deficit next year, even as it makes further cuts to copper mining royalties, Finance Minister Situmbeko Musokotwane said. The spending shortfall will shrink to 7.7% of gross domestic product in 2023, from a revised 9.8% forecast for this year, Musokotwane told lawmakers Friday in Lusaka, the capital. Restructuring the royalty system in Africa’s second-biggest copper… Read full details

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• Gold Price Drops as US Data Signal More Aggressive Fed Tightening
• The Price of Cobalt Is Expected to Trade Lower This Week at USD 51,265 Per tonne
• Sasol to Announce Green Hydrogen Deals with Local Miners Soon
• Botswana’s Morupule Aims to Boost Coal Output By 50% with New Mine
• Gold Price Rallies to Weekly High as Dollar Pulls Back
• With the Exception of Silver, Prices for DRC Mining Export Products are Down this Week from Sept 26 to 1 October 2022
• DRC: Management of 0.3% of Turnover, Civil Society Protests Against the Obligation Imposed to Cover the Mission Expenses of Agents of the Ministry of Mines
• DRC: in 2019, the Mining Sector Represented 99.3% of the Country’s Exports and Contributed 24.79% to Jobs
• Zimbabwe Wants Half of Royalties Paid in Gems, Precious Metals
• Fitch Report forecasts increase in Copper Production in the DRC with More Than 3 Million tonnes Per Year Expected From 2031
• the DRC Holds Almost Half of the World’s Cobalt Reserves at 3.6 Million tonnes
• Sandvik to Book Charges of $471 Million in Third Quarter

• Zambia and Vedanta Agree to Seek Out-of-Court Settlement
• Alrosa Discovers 22 New Diamond Deposits in Zim
• Makuta Ya Maendeleo Consortium Calls for Redefinition of the Objectives, Regulatory and institutional Framework of Fomin

• The DRC Mining Sector Represented 99.3% of the Country’s Exports and Contributed 24.79% to Jobs in 2019(Report)
• The Suspension of Covid-19 Test in the DRC Is only for Fully Vaccinated Travelers
• Copper and Cobalt Prices Continue to Fall & Rise on the international Market
• Gemfields Anticipates More Than 50% increase in Net Profit

Tax amnesty granted to all small and medium-sized enterprises as well as micro enterprises…

The Congolese Head of State Félix Tshisekedi granted by ordinance-Law a one-year tax amnesty to all small and medium-sized enterprises as well as micro enterprises operating in different economic sectors. According to a copy of the ordinance law N ° 22/030 of September 08, 2022, relating to the promotion of entrepreneurship and startups, it is clearly indicated in article 50 that within the framework… Read full details

Zambia’s Konkola Copper Mines (KCM) has appointed Rand Merchant Bank (RMB) as financial advisor…

Zambia’s Konkola Copper Mines (KCM) has appointed Rand Merchant Bank (RMB) as financial advisor as the government searches for a new investor to expand the copper mine and smelter, the company’s state-appointed provisional liquidator said on Wednesday. Zambia’s previous government put KCM in the hands of a liquidator in May 2019, triggering a legal dispute with Vedanta Resources, KCM’s parent… Read full details

Democratic Republic of Congo will be equipped with a new public establishment called the Congolese Battery Council (CCB)…

The government of the Democratic Republic of Congo will be equipped in the coming days with a new public establishment called the Congolese Battery Council (CCB). The draft decree on the creation, organization and operation of this public institution was adopted at the 71st meeting of the Council of Ministers. Presented by the Ministry of Industry, Julien Paluku, who pointed out that the Congolese… Read full details

• DRC: in 2019, the Mining Sector Represented 99.3% of the Country’s Exports and Contributed 24.79% to Jobs
• Zimbabwe Wants Half of Royalties Paid in Gems, Precious Metals
• Fitch Report forecasts increase in Copper Production in the DRC with More Than 3 Million tonnes Per Year Expected From 2031
• Sandvik to Book Charges of $471 Million in Third Quarter

7.3 million tonnes will be added to global copper production by the year 2031…

A new study by Fitch Solutions Country Risk and Industry Research forecasts 7.3 million tonnes will be added to global copper production through 2031 as a raft of projects in Chile, China and Congo come online. Fitch expects global copper mine production to increase by an average annual rate of 3.2% over 2022–2031, with annual output rising from 21.9mnt in 2022 to 29.2mnt by 2031 boosted by… Read full details

A total of 2117 metres from 156 aircore drillholes has been completed…

Tantalex Lithium Resources Corp. is pleased to announce that the final assay results received from its 2022 infill drilling program on the K dump has returned an average grade 0,946% Li2O from surface. A total of 2117 metres from 156 aircore drillholes has been completed on nominal 50m centres to define a measured category… Read full details