Category: Minerals
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Zambia mining company to fuel progress with 300 MW coal-fired power plant
Zambia’s Maamba Collieries will build it over two years starting in August, its local shareholder ZCCM-IH announced. The country has been importing and rationing electricity after a drought hit hydropower generation, the main power source for Africa’s second-largest copper producer. “The project’s total cost is estimated at $400 million, with a consortium of debt investors…
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ANGOLA ENVIRONMENTAL SERVICES JOINS ANGOLA OIL & GAS (AOG) 2024 AS SILVER SPONSOR
Angola plans to increase oil production to 1.1 million barrels per day (bpd) until 2027, thereafter maintaining output at this level. To support production growth, the country is promoting investment in exploration, with several drilling campaigns planned across both on- and offshore acreage. As upstream drilling progresses in Angola, waste management company Angola Environmental Services…
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Who will benefit from booming demand for uranium?
A scramble for uranium has developed after the Ukraine conflict and short-sighted Western sanctions on Russia exposed Europe’s dependency on Russian oil and gas, The Economist has argued. About 10% of the world’s electricity is generated from uranium in nuclear reactors. But the problem is that Kazakhstan, that boasts a close mutually-beneficial relationship with Russia,…
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Mozambique: Government Withdraws Mining Licenses in Cabo Delgado
The authorities in the northern Mozambican province of Cabo Delgado have ordered the withdrawal of mining licenses because some businesses, which were granted licenses years ago, are not investing. According to the Director of the Provincial Infrastructure Service in Cabo Delgado, the province had 595 mining titles, but because they were unused at least 200…
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Gold Digger: Agnico Eagle Mines (SA Quant)
Summary Best Gold StockGold has rallied, as market volatility, rising interest rates, and uncertainty around crypto scandals have prompted some investors to seek investments that offer hedges. The U.S. dollar lost some purchasing power amid geopolitical and macro headwinds, yet, “the dollar remains king.” But, for investors looking for defensive investments amid global uncertainty, diversification…
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De Beers ditches lab-grown diamonds as it looks beyond Anglo
De Beers will ditch a controversial experiment to sell lab grown diamond jewelry, ending a six-year program that broke one of its oldest taboos. While the company long held the technology to make synthetic gems, it always refused to sell them as jewelry, fearing they would undercut the allure of natural stones. Yet as man-made…
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Botswana GDP shrinks most since 2020 as diamond output plunges
Botswana’s economy contracted by the most since the peak of the pandemic in early 2020, after diamond production plunged. Gross domestic product shrank an annual 5.3% in the first quarter, compared with growth of 1.9% in the prior three months. The downturn was primarily influenced by a decrease in real value added of the diamond…
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Vedanta set to regain control of Zambia copper mine
Vedanta Resources Ltd. is close to taking back control of the Konkola copper mine in Zambia and plans to quickly ramp up output as demand is expected to surge in the coming years. Billionaire Anil Agarwal’s firm is ready to pay $250 million to settle debts owed by the mine to get access to the…
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Ero Copper’s Tucumã project set for production in early Q3
Ero Copper’s (TSX: ERO, NYSE: ERO) Tucumã project in Pará, Brazil, is on track for production next month after the company obtained its operational licence, the last remaining permitting milestone for commercial production. Physical completion of the mine is at approximately 99%, with commissioning well advanced and over 90% of the operational staff hired and…
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Lucapa finds Angola mine’s second-largest diamond
Australia’s Lucapa Diamond (ASX: LOM) has unearthed a 235-carat type IIa diamond from its prolific Lulo mine, the second-largest recovered at the Angola operation since it opened in 2015. The find comes barely a week after the recovery of a 208-carat diamond at the same mine, which is the third-largest ever recovered from Lulo. The new diamond was dug up from Mining Block…
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