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Global Gold Demand Soars Amid Strong ETF Inflows in Q3 1 International Gold 

Global Gold Demand Soars Amid Strong ETF Inflows in Q3

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Healthy inflows into global gold exchange-traded funds (ETFs) significantly boosted gold demand in the third quarter, according to the World Gold Council. Combined with ongoing investor interest in over-the-counter markets, these factors contributed to a series of record-high gold prices during the period. While gold jewelry consumption declined due to rising prices, India experienced a notable rebound following a reduction in gold import duties. Net demand from central banks slowed but remained robust, with official institutions purchasing a net total of 186 tonnes of gold in the quarter. Year-to-date purchases… Read More Here
Zambia National Service to Launch Copper Mine in North-Western Province by 2027 2 Copper Mining in Zambia New Mining Projects 

Zambia National Service to Launch Copper Mine in North-Western Province by 2027

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Zambia National Service (ZNS) Commander, Lt. General Maliti Solochi, has announced plans to open a new copper mine in Zambia’s North-Western Province by 2027. This new project will complement ZNS’s existing mining operations in Kitwe, Copperbelt Province, as the service expands its role in national economic activities alongside its security mandate. Lt. General Solochi emphasized the military’s role in pioneering development projects, stating, “Just as the internet began with the military, certain innovations often start within the armed forces before being extended to the civilian population. The military should be… Read More Here
Lualaba Governor Cracks Down on Fake Missions to Combat Mining Sector Abuses 3 Mining in DRC 

Lualaba Governor Cracks Down on Fake Missions to Combat Mining Sector Abuses

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Lualaba’s Governor, Fifi Masuka, now mandates that all mission orders for trips to Kolwezi’s mining sites be stamped at her office following reports of abuse by unauthorized missions from Kinshasa. The provincial government has documented repeated instances where individuals claiming to represent the central government conducted fake missions within mining companies, often engaging in coercive tactics. In a recent incident, a group of Chinese employees from the GTS company was abducted by imposters posing as government representatives from Kinshasa. According to Lualaba’s provincial police commissioner, these fake missionaries demanded a… Read More Here
Kisanfu Mine Leads Global Cobalt Supply Surge 4 Mining in DRC Cobalt Economy 

Kisanfu Mine Leads Global Cobalt Supply Surge

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The Kisanfu cobalt mine in the Democratic Republic of Congo (DRC) is projected to be the largest contributor to global cobalt supply growth in 2024, adding an estimated 23,000 tonnes more than in 2023. This announcement, made by the Cobalt Institute on October 28, 2024, forecasts a substantial market surplus for the year. In its annual report from May 2024, the Cobalt Institute reported a cobalt surplus of 14,200 tonnes for 2023—nearly double that of 2022—highlighting the pivotal role of Kisanfu, which added 32,500 tonnes to the global supply in… Read More Here
IMF Projects Substantial Wealth Growth for DRC by 2029 5 Mining in DRC Economy 

IMF Projects Substantial Wealth Growth for DRC by 2029

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The International Monetary Fund (IMF) forecasts a significant increase in wealth creation in the Democratic Republic of Congo (DRC) by 2029, projecting it to reach 372,325.2 billion Congolese Francs (CDF). These projections are detailed in the IMF’s latest report, “Economic Outlook for Sub-Saharan Africa, October 2024.” The IMF has revised its forecasts upward from previous estimates, with projections of 300,000 billion CDF in 2023 and 357,789 billion CDF in April 2024. This suggests an optimistic growth trajectory for the Congolese economy. However, the institution has downgraded the nominal dollar value… Read More Here
Sibanye-Stillwater Gains from U.S. Regulatory Changes on Critical Minerals 6 International Battery Metals 

Sibanye-Stillwater Gains from U.S. Regulatory Changes on Critical Minerals

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Sibanye-Stillwater has received a significant boost from the United States following the publication of final regulations that provide incentives for mining critical minerals, including palladium and platinum. These incentives are part of the Inflation Reduction Act’s (IRA) Section 45X, which now allows for a 10% ‘Advance Manufacturing Production’ credit. The previous version of the Act restricted this incentive to refiners, excluding miners, but has since been amended. “We welcome the amendments to the Section 45X regulations made by the U.S. Treasury and applaud its foresight in understanding our industry and… Read More Here
Unchecked Mining in DRC’s South Kivu Raises Concerns Over Illegal Activity and Environmental Harm 7 Mining in DRC Artisanal mining 

Unchecked Mining in DRC’s South Kivu Raises Concerns Over Illegal Activity and Environmental Harm

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South Kivu, a province rich in tin, tungsten, niobium, tantalum, rare earths, and gold deposits in eastern Democratic Republic of Congo (DRC), faces persistent security challenges that deter large industry investors from entering the area. Instead, mining is largely conducted by cooperatives and foreign firms, especially those with Chinese capital. Many operate with impunity, often in violation of DRC’s mining regulations, and with the alleged support of powerful figures. A prominent example is Tong Li Resources, a Chinese company involved in gold mining in South Kivu and neighboring Maniema Province.… Read More Here
Cobalt Market Forecasts 37,000-Tonne Surplus Amid Slowing Demand in 2024 8 Mining in DRC Cobalt Economy 

Cobalt Market Forecasts 37,000-Tonne Surplus Amid Slowing Demand in 2024

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The global cobalt market is projected to experience a notable surplus in 2024, with the Cobalt Institute forecasting a surplus of 37,000 tonnes. This outlook aligns with recent statements from CMOC, the world’s largest cobalt producer, which noted a slowing rate of supply growth in the latter half of the year. Key contributors to this surplus are increased production from the Kisanfu mine in the Democratic Republic of Congo (DRC), set to add an additional 23,000 tonnes over 2023 levels, and a 14,000-tonne increase from the Tenke Fungurume mine, also… Read More Here
Cobalt International Battery Metals Cobalt Lithium 

African Nations Called to Invest in Beneficiation of Critical Minerals for Industrial Growth

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Africa has the potential to be a key player in the global energy transition due to its rich reserves of critical minerals like lithium and cobalt. However, maximizing this potential requires a robust strategy for building manufacturing capacity, scaling up production, and increasing exports. This perspective was shared during a panel discussion at the recent Manufacturing Indaba, highlighting how resource extraction and industrialisation offer African nations opportunities to advance along the value chain, create high-skilled jobs, and drive technological innovation. “We need to explore ways to deepen those value chains,… Read More Here
BHP Shifts Focus After Rejected Anglo American Takeover Bid 9 International Mergers & Acquisitions 

BHP Shifts Focus After Rejected Anglo American Takeover Bid

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BHP has turned its attention to new growth prospects after Anglo American shareholders rejected its $49-billion takeover proposal earlier this year, the company’s Chairperson Ken MacKenzie confirmed on Wednesday. In May, BHP withdrew from its acquisition bid for Anglo after three failed attempts. With a six-month restriction on reapproaching Anglo soon to expire, there had been speculation that BHP might revisit the offer. “We saw a unique opportunity for synergy with Anglo American—an idea where one plus one equals three,” MacKenzie remarked at BHP’s annual meeting. “However, Anglo’s shareholders favored… Read More Here

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