CKM NEWSLETTER 13-12-2021

Kamoa Copper SA Produced 580,000 tonnes of ore in November

A total of 548,000 tonnes grading 5.46% copper was mined during the period from October 21 to November 20, including 362,000 tonnes grading 6.60% copper from the Kakula Mine’s high-grade centre and 63,000 tonnes grading 3.61% copper from the Kansoko Mine. Mark Farren, CEO of Kamoa Copper, commented: “548,000 tonnes of ore mined is a major increase compared to our previous monthly record of… Read full article

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• Kamoa-Kakula: Study Work for Phase 3 Expansion Advancing; Excavation Underway On A New Box Cut
• Kamoa Copper’s Green Energy Focus Now On The Inga Ii Hydropower Plant To Power Kamoa Expansions

• Market: Cobalt Jumps to Over 63,000 Usd Per Tonne this Week From December 6 to 11, 2021
• DRC: Léon Mubikayi Appointed PCA of The Mining Fund
• Condra Wins Africa Crane Order
• Kalej Nkand Encourages Congolese SMEs to Seize the Opportunities Offered By The Law on Subcontracting
• Makutano 7: The DRC Only Consumes Around 13 to 14 Million Megawatts Per Year
• Gemfields Earns Record Revenues at Latest Montepuez Ruby Auctions
• Copper Price Down As Omicron Fears Subside
• Kamoa-Kakula Phase 2 Expansion Now 70% Complete, on Track for Early Start-Up in Q2 2022

Kasenseli gold mine operating license, and thus mining activities, has been suspended since late October 2021

The new Mines Minister Paul Kabuswe’s continued suspension of the Kasenseli gold mine operating license, and thus mining activities, from late October 2021 put the central bank’s gold reserve build-up target for 2021 in jeopardy. Since the gold-buying program began in January this year, the Bank of Zambia (BoZ) has spent approximately US$37 million on refined gold from First Quantum’s Kansanshi… Read full article

AVZ Minerals Limited is pleased to announce it has received firm commitments for a placement to raise $75 million (before costs)…

AVZ Minerals Limited (ASX: AVZ,) is pleased to announce it has received firm commitments for a placement to raise $75 million (before costs) with 85% of funds coming via new global institutions and the balance from existing sophisticated shareholders including cornerstone investor Suzhou CATH Energy Technologies (“CATH”) The placement was significantly oversubscribed and … Read full article

Galileo Resources has entered into an option and joint venture (JV) agreement with Garbo Resource Solutions

Aim-listed Galileo Resources has entered into an option and joint venture (JV) agreement with Garbo Resource Solutions to earn an initial 50% interest in the Shinganda copper/gold project, in Zambia. Galileo has committed to spending $500 000 on exploration and evaluation at Shinganda over a two-year period. “This project fits the Galileo model in that the licence areas have good copper and… Read full article

• Market: Cobalt Jumps to Over 63,000 Usd Per Tonne this Week From December 6 to 11, 2021
• DRC: Léon Mubikayi Appointed PCA of The Mining Fund
• Condra Wins Africa Crane Order
• Kalej Nkand Encourages Congolese SMEs to Seize the Opportunities Offered By The Law on Subcontracting
• Makutano 7: The DRC Only Consumes Around 13 to 14 Million Megawatts Per Year

Vedanta intends to support the Zambian government in its green energy transition goals, it confirmed on December 7

Natural resources company Vedanta intends to support the Zambian government in its green energy transition goals, it confirmed on December 7. This decision was bolstered by the steps already taken by the government, including the appointment of the country’s first Green Economy and Environment Minister Collins Nzovu in September, and is aligned to the further initiatives that have been presented…  Read full article

Five emerald mini-auctions in November and December has generated a record $37.9-million

A series of five Emerald mini-auctions in November and December has generated a record $37.9-million in revenue for gemstone miner Gemfields. All carats on offer were sold and the emeralds, produced at the company’s 75%-owned Kagem mine, in Zambia, were sold for an average of $150.65/ct. Among the emeralds on auction was the 7 525 ct Chipembele  emerald recovered at the Kagem mine. It is the… Read full article

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• Ivanhoe Mines Secures $300m in Stream Financing for Platreef
• Mine Modernisation ‘Key To Stopping Mine Deaths’
• Ivanhoe’s Robert Friedland Inducted Into American Mining Hall of Fame
• US Slaps Sanctions on DRC National Over Gertler Ties