Category: Minerals
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UN says Congo rebels generating $300,000 monthly in seized mining area
Rebels in eastern Democratic Republic of Congo have consolidated control over the Rubaya coltan-mining region, imposing a production tax estimated to generate around $300,000 in monthly revenue, the United Nations security council heard on Monday. The M23 movement, a Tutsi-led organization purportedly backed by Rwanda, seized the area, which produces minerals used in smartphones and…
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Four employees of Canadian miner Barrick Gold reportedly arrested in Mali for financial crimes
The four arrested are senior Malian employees of Barrick Gold, the world’s second-largest gold miner and one of Mali’s top gold producers, according to Western media citing multiple unanimous sources. The arrests, which reportedly took place on Wednesday, come amidst a broader shift in Mali’s mining policy, aimed at increasing state control over gold revenue.…
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Tanzania orders 20% of gold exports to its central bank for reserve diversification
To bolster its foreign reserves and combat the depreciating shilling, the Bank of Tanzania began purchasing gold from local traders and miners last fiscal year, acquiring 418 kg. The bank aims to purchase 6 tonnes of gold in the current fiscal year. The Tanzania’s Mining Commission announced that a new mining law, effective October 1,…
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BREAKING: Josh Shapiro and Zelensky visit artillery shell plant in Scranton, PA Shapiro signs shells to be used in the war in Ukraine
BREAKING: Josh Shapiro and Zelensky visit artillery shell plant in Scranton, PA Shapiro signs shells to be used in the war in Ukraine
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Libya thwarts smuggling attempt of 100 kg of gold, 1.5 mln euros
Libya’s Internal Security Agency said on Saturday it had thwarted an attempt to smuggle 100 kg (220 lb) of gold and 1.5 million euros at Misrata international airport during a security check of an international flight. The gold bars were found in three suitcases while the money was in one suitcase. The suitcases were spotted…
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Botswana licences its first manganese mining project
Botswana has awarded Giyani Metals a 15-year mining licence, the company announced on Wednesday, paving the way for it to become the country’s first battery-grade manganese producer. Manganese is a key component in batteries and its demand is expected to be driven by growth in electric vehicles, among other clean energy applications. Giyani’s Kgwakwe Hill…
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Mining company Lucara unearths sixth diamond over 1,000 carats at Karowe Mine in Botswana
“The recovery of this exceptional 1,094-carat diamond is a testament to Karowe’s remarkable potential and further validates our investment in the underground expansion project. These continued discoveries of large, high-value diamonds demonstrate the consistent quality of our resource and its ability to deliver substantial returns,” said William Lamb, President and CEO of Lucara. The discovery…
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Ghana’s economy grows by 6.9% in Q2 2024, fastest in five years
Ghana’s economy rebounded from the worst economic crisis in a generation, driven by expansion in several key sectors, according to the country’s statistics agency. The country’s industrial sector demonstrated 9.3% growth year-on-year, driven by the expansion in mining and quarrying, while the gold sector expanded for the third consecutive quarter, growing 23.6% year-on-year in the…
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South Africa’s company to start mining copper in Australia by 2028
Harmony Gold is targeting its first copper production from the Eva Copper project in Queensland, Australia, by 2028. Alongside this, Harmony has reported a 132% surge in headline earnings, with a record 12.7 billion rand ($715.2 million) in operating free cash flows. Despite this financial success and the announcement of a dividend increase, the companyβs…
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