jueves, 4 de octubre de 2018

Congo miners buying cobalt from artisanal operators to balance market

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Africa News Digest
Friday 5 October 2018
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Experts say that, when done correctly, artisanal mining can be an ethical source of low-cost, high-grade cobalt and a key mechanism in keeping the market balanced during times of supply shortage.

Yet, capital expenditure for the sector recovered from the lowest levels in ten years to reflect a 19% increase.

The find, named Makoko, was the first of multiple high-potential target areas identified by the company's exploration team to be tested by drilling.

Talks between the miner and China National Nuclear Corporation were confirmed by the country's energy minister.

The state miner warned it would "assert its rights" in Barrick Gold's acquisition of Rangold's stake in the Kibali mine, but did not provide details of its plans.

Company wants to make sure the mine is in production when the demand and price of graphite takes off, as predicted.

The new Barrick, which will be listed in New York and Toronto, will own five of the world's 10 lowest cost gold mines and will be the world's top bullion producer by both value and output.

The transaction would create the world's No.2 platinum producer as Lonmin is the world's third-largest while Sibanye-Stillwater is the fourth.

Johan Dippenaar has held the top position since 2005, when Petra merged with Crown Diamonds.

According to Lucapa, policy shifts in the southern African country allow management to plan for the sale of such high-value stones, something the company was not able to do before.

 Acacia — Tanzania's No.1 gold miner— will retain a net smelter return production royalty over the project, capped at $15 million.

Namibia's Desert Lion Energy ceases all operations as Chinese lithium prices plummet to three-year lows – down by half since the start of 2018.

Mining companies are upending rural communities and undermining air and water quality while government authorities fail to rein in abuses.

The country's proposed mining tax increases would hobble Africa's second biggest copper industry, miners say.

South African miner Exxaro is eyeing South32's local coal assets, which include an export quota, as it looks to increase its exports.

South African mining executives, investors and officials gather in the nation's economic hub for the Joburg Indaba conference. Here are the latest developments, updated throughout the day.

South Africa's National Union of Mineworkers (NUM) signs three-year wage deal with platinum producer Northam Platinum that secures wage hikes of more than double the inflation rate for its members.

Randgold becomes second major miner to announce departure from London.

The East African nation seeks to reassure potential investors that it isn't involved in "conflict minerals."

New Mining Charter seeks to reduce uncertainty and boost investment in the sector.

Efforts to broaden the scope of the Kimberley Process, set to prevent the sale of so-called "blood diamonds", have been stymied for a decade by member states including China, Russia and a number of African nations.

Delivering a $7.1 billion budget in parliament, Margaret Mwanakatwe pledged to bring debt down and to trim the fiscal deficit to 6.5 percent of GDP in 2019.

South Africa's new mining charter will require holders of mining rights to have a black ownership level of at least 30 percent within five years.

The National Union of Mineworkers and Association of Mineworkers and Construction Union received strike certificates at Sibanye after negotiations.

Barrick's South America team "will be focused not only on bringing to account and dealing with the challenges around Pascua-Lama and Veladero,'' but also on expanding assets and partnerships in Peru, Bristow said.

DRC President Joseph Kabila vowed delayed elections will take place as planned this year.

AngloGold Ashanti Ltd.'s new CEO, Kelvin Dushnisky, said his goal of unlocking value at the world's third-largest gold producer will involve focusing on its best assets.

Chief Executive Officer Gary Goldberg said while not interested in the entire companies, he would interested in buying Barrick's half of their shared Kalgoorlie mine in Australia, which Newmont operates.

Kropz, is on track to list on London's AIM Stock Exchange by the end of the year as it prepares for first production in 2019.

Few gold mines can operate profitably below 1 gram a ton which is equivalent to extracting two teaspoons of gold from a Statue of Liberty's worth of ore.

Belgian zinc producer Nyrstar issued a profit warning last week, citing "adverse market conditions".

Randgold's founder Mark Bristow has been a thorn in the side of Barrick Gold Corp. Now he's its closest partner.

South Africa's National Union of Mineworkers (NUM) signed a three-year wage deal with AngloGold Ashanti, inking the same agreement that other unions reached with the company earlier in the week.

The mining charter was introduced to redress the exclusion of black people in the mining sector under apartheid.

President George Weah signed the Land Rights Act into law on Wednesday after four years of debate in the legislature.

Botswana's economy is expected to expand by 4.5 percent this year.

Sibanye and Lonmin said in a joint statement they remained fully committed to the deal, which is expected to close by the end of the year.

Metallon Corp. is considering paying mining-equipment suppliers in gold because a cash shortage in Zimbabwe is hampering its plan to expand output.

The Democratic Republic of Congo will declare cobalt a strategic metal, imposing a 10 percent royalty tax on producers.

Ramaphosa revealed highlights of the plan at a Sept. 14 meeting and the full package should be announced at the Oct. 24 midterm budget.

Eskom said on Monday that it had fewer than 20 days of coal supplies at 10 of its 15 coal-fired power stations, posing a threat to national power supplies.

Although about half of South African output is estimated to be unprofitable, few companies are reducing production by a meaningful amount.

Congo's updated mining code established the category of "strategic" minerals, to which a rate of 10 percent will apply.

Implats is confident of having adequate cash while restructuring its operations and cutting its workforce despite reporting a wider full-year loss.

South African miner Gold Fields Ltd aims to extend the life of its Cerro Corona gold mine in Peru through 2040 with an investment of at least $240 million.

Democratic Republic of Congo's mines minister said that a new mining code signed into law that hikes royalties and taxes cannot be called into question.

The area will allow producers of electric vehicles, smartphones and other goods to "install themselves in the DRC".

The railway line stretches up to 861 km (534 miles) from iron ore mines at Sishen in the Northern Cape to the Saldanha port in the Western Cape.

Since their discovery in early 2009, the ruby deposits near Montepuez in Mozambique have produced an impressive number of exceptional-quality stones.

South32's South Africa Energy Coal unit, the country's third-biggest exporter of the fuel, was split into a standalone business earlier this year.

The mining industry is an integral contributor to the South African economy, especially in terms of employment.

After more than two decades of improving mine safety since the end of apartheid, South Africa's progress has stalled with an increase in gold-mining deaths.

Zimbabwe will fast-track plans to settle its debt arrears, a key step needed to restore investor confidence in the country's economy.

Fertiliser miner Danakali aims to raise $322 million this year to develop giant potash reserves in Eritrea.

This summer's crash in commodity prices is turning it into a year to forget for miners. Unless you dig the world's biggest diamonds.

An agreement has been reached on separating laws for the country's oil industry and dropping a bill to govern the two sectors.

Assore reported a 1.9 percent fall in annual profit on Thursday as a strong rand currency offset favourable commodity prices and higher sales.

President Ramaphosa announced a wide-ranging set of deals between government, big business and labour that he said would create 275,000 more jobs a year.

As water scarcity becomes a reality, mining companies are faced with numerous civil and environmental pressures and need to proactively review the impact that their upstream and downstream operations are having on the availability and quality of the resource.

Copper production in Democratic Republic of Congo, Africa's top producer, is expected to rise.

South African government is considering a sovereign wealth fund but is looking for a way to fund it without harming the mining industry.

Zambia has asked mining companies to pay mineral royalties directly to the central bank in dollars as one of the measures to help stabilise its kwacha currency

The award of the Feasibility Study continues the partnership between DRA and SRG Graphite. DRA has been involved in the Lola project since the early stage, completing two mineral resource estimates and a preliminary economic assessment.

Kal Tire's Gravity Assist System won the award in the category of International Mechanical and Technology Innovation

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