Category: Minerals
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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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Illicit Mining Continues in Gbarpolu County Under Armed Protection
Despite explicit orders from the Ministry of Mines and Energy (MME) to cease operations, Gao Feng, the infamous Chinese miner also known as Barry, continues to engage in large-scale illicit mining activities in Gbarpolu County–even enjoying the protection of armed police officers. This troubling development raises serious questions about the source of his apparent impunity…
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🇳🇬 Nigeria cracks down on illegal lithium mining with dozens of arrests
Nigeria’s government is cracking down on illegal mining, making dozens of arrests since April for unlicensed miners allegedly stealing lithium, a critical mineral used in batteries for electric vehicles, smartphones, and power systems. The crackdown comes as Nigeria seeks to regulate its mining operations, curb illegal activity, and better benefit from its mineral resources. The…
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“Taking more and leaving less”: expert on how the west facilitates illegal mining in Africa
🌍 When African countries want to review their mining codes to get more benefits for themselves, the West and the World Bank in particular try to oppose it and promote systems that allow their companies to exploit the resources of African nations, Dr. Alex Mvuka Ntung, an independent research consultant who specializes in the Great…
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Critical Minerals in Africa: Strengthening Security, Supporting Development, and Reducing Conflict amid Geopolitical Competition
The United States Institute of Peace convened a senior study group to explore the role Africa plays in the United States’ efforts to diversify US critical mineral supply chains and how new investment in partnerships with African countries could help drive economic development and strengthen peace and security on the African continent. Based on meetings and interviews…
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CMOC Group settles Congo mining dispute with $800m payment to Gécamines
Chinese miner CMOC Group has agreed to make a settlement payment of $800m between 2023 and 2028 to Congo’s state-controlled mining company Gécamines to end a dispute related to the Tenke Fungurume copper and cobalt mine in the Democratic Republic of Congo (DRC). Furthermore, CMOC will also pay at least $1.2bn (8.66bn yuan) in dividends…
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Several people killed in accident at abandoned Liberia gold mine
MONROVIA (Reuters) – Several people have been killed in Liberia in an accident at an abandoned gold mine, the West African country’s mines minister said on Tuesday. Minister Wilmot Paye said on Tuesday seven people died in Monday night’s incident, but acknowledged the authorities could not yet provide an exact death toll until a team…
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