Archive | Africa Mining

Northeastern Ontario refinery could accept Congo cobalt by late 2022 – by Staff (Northern Ontario Business – January 12, 2021)

https://www.northernontariobusiness.com/

The owners of a renovated cobalt refinery in northeastern Ontario have signed a supply agreement with Glencore to receive unprocessed cobalt from the Democratic Republic of Congo (DRC) by late 2022.

Toronto’s First Cobalt announced it has signed a five-year supply contract with Glencore AG to ship material from Kamoto Copper Company, its subsidiary in the DRC, starting in the fourth quarter of 2022. Glencore has helped finance First Cobalt’s plant-reopening plans.

A second supply agreement is in the works after First Cobalt inked a memorandum of understanding with IXM S.A., a subsidiary of China Molybdenum Co. (CMOC), to source cobalt from the Tenke Fungurume Mine in the DRC. The parties are working toward reaching a definitive contract. Continue Reading →

The essential role of platinum group metals in ‘greening’ the world needs highlighting – by Martin Creamer (MiningWeekly.com – January 12, 2021)

https://www.miningweekly.com/

JOHANNESBURG (miningweekly.com) – The ‘greenness’ that South Africa can help bestow on the world needs hard sell now, Mining Weekly can today report.

While South Africa’s amazing platinum group metals (PGMs) continue their decades-long task of cleaning the air of the world’s cities in the autocatalytic convertors of vehicle exhausts, their elevation to an even higher zero-emission role inside fuel cells and green hydrogen electrolysers has begun.

At the same time, virtually every major global investor has been mandated to direct investments towards making the world a ‘greener’ place. Continue Reading →

Chinese companies are betting heavily on Democratic Republic of Congo’s mines – by Jevans Nyabiage (South China Morning Post – December 27, 2020)

https://www.scmp.com/

Chinese companies are betting big on the Democratic Republic of Congo (DRC)’s mining industry as copper prices surged to a seven-year high driven by China’s strong recovery and the push for electric cars.

Chinese mineral mining and exploration giant, China Molybdenum Co. (CMOC), cemented its grip on the DRC’s mining industry after it acquired Arizona-based mining company, Freeport-McMoRan’s indirect 95 per cent interest in the Kisanfu copper-cobalt deposit for US$550 million.

The Chinese company said Kisanfu, located in Lualaba province, was one of the world’s largest, highest-grade undeveloped cobalt and copper projects, containing about 6.3 million tonnes of copper and 3.1 million tonnes of cobalt. Continue Reading →

Beny Steinmetz: Mining tycoon in Swiss trial over Guinea deal (BBC News – January 11, 2021)

https://www.bbc.com/

A billionaire French-Israeli diamond magnate, Beny Steinmetz, has appeared in court in Switzerland to face trial over alleged corruption linked to a major mining deal in Guinea.

He has always denied his company, BSGR, paid multi-million dollar bribes to obtain iron ore mining exploration permits in southern Guinea in 2008.

He travelled to Geneva from Israel for the two-week trial. If convicted he could face up to 10 years in prison. Steinmetz, 64, was previously sentenced in absentia to five years in prison by a court in Romania for money laundering. Continue Reading →

Mining in Africa and beyond: Tracking the great gold rush – by Patrick Smith (The Africa Report – November 13, 2020)

https://www.theafricareport.com/

As demand for gold skyrockets, artisanal mining and smuggling ramps up, financing conflict and corrupt politicians, risking human lives and destroying the environment. The Africa Report tracks the precious mineral on its journey from ¬ rebel-controlled areas to jewellery stores across the world.

The headlong rush for that glistening metal is one of the ugliest market forces in the world.

On July 14, the COVID-19 crisis prompted the World Gold Council to pronounce: ‘Investors have embraced gold in 2020 as a key portfolio hedging strategy. […] the pandemic will likely have a lasting effect on asset allocation. It will also reinforce the value of gold as a strategic asset.’ By 5 August gold had hit its highest price ever, at $2,048 an ounce. Continue Reading →

Illegal gold mines in the Sahel controlled by terrorist cells – by Irina Tsukerman (Foreign Policy News – October 1, 2020)

Foreign Policy News

The London based Tactics Institute For Security and Counter Terrorism expressed concerns about the growing threat of Jihadi groups in Africa.

The institute revealed it has received information from local intelligence sources from 3 African countries. Tactics has learned that 8 key terrorists groups in the Sahel region are the beneficiaries of illegal trade with UAE and other countries.

Tactics can reveal that groups which involved in the trade are, Al-Mourabitoun, Ansar al-Dine / Al-Qaeda in the Islamic Maghreb, Al-Qaeda in the Islamic Maghreb, Islamic State in the Greater Sahara (ISGS), Ansar-ul-Islam lil-Ichad wal Jihad (IRSAD), Jamaat Nusrat al-Islam wal Muslimeen (JNIM), The Macina Liberation Front (MLF) and Allied Democratic Forces (ADF). Continue Reading →

Ethiopia – Origin of High Quality Gemstones – by Getachew Minas (Ethiopian Herald/All Africa – January 8, 2021)

https://allafrica.com/

Gemstones have never played any significant economic role in the long history and rich culture of Ethiopia. It is only in the last two decades that Ethiopia has emerged in the gem trade. Rondeau et al. reported the discovery of large gemstone deposits in the country only recently.

The first high-quality emeralds from southern Ethiopia and sapphire from the north reached the market in the past few years.

With all of these new materials reaching the market, the Gemological Institute of America (GIA) collaborated with the Ethiopian government to set up an expedition to the sapphire, opal, and emerald sources. Here, we focus only on sapphire. Continue Reading →

Decision over future of Oxford’s Cecil Rhodes statue delayed – by Michael Race (BBC News – January 6, 2021)

https://www.bbc.com/

A decision over the future of a statue of British imperialist Cecil Rhodes has been delayed until the spring.

Calls to remove the Oriel College statue in Oxford were reignited in June last year after a statue of 17th Century slave trader Edward Colston was torn down in Bristol. A commission was set up to examine the statue’s future and said a report would be released this month.

But the date has been delayed due to a “considerable volume of submissions”. A spokesperson for the commission, set up by Oriel College, said a report would “likely be published in early spring 2021 in order to ensure that all input is given careful and due consideration”. Continue Reading →

Child labour, toxic leaks: the price we could pay for a greener future – by Robin McKie (The Guardian – January 3, 2021)

https://www.theguardian.com/

The battle to stave off Earth’s looming climate crisis is driving engineers to develop hosts of new green technologies. Wind and solar plants are set to replace coal and gas power stations, while electric cars oust petrol and diesel vehicles from our roads. Slowly our dependance on fossil fuels is set to diminish and so ease global heating.

But scientists warn there will be an environmental price to pay for this drive to create a world powered by green technology. Prospecting for the materials to construct these devices, then mining them, could have very serious ecological consequences and major impacts on biodiversity, they say.

“The move towards net zero carbon emissions is going to create new stresses on our planet, at least in the short term,” said Prof Richard Herrington, head of earth sciences at the Natural History Museum, London. “We are going to have to learn how to consider profit and loss with regard to ecosystems just as we do now when we are considering economic issues.” Continue Reading →

Aton outlines plan to build Egypt’s second gold mine – by Cecilia Jamasmie (Mining.com – January 4, 2021)

https://www.mining.com/

Canada’s Aton Resources (TSX-V: AAN) said on Monday that is ready to kick off an ambitious exploration drilling and development program focused on building Egypt’s second operating gold mine.

The Vancouver-based miner said that while there are still potential bumps in the road due to covid-19, it is prepared to face them and that the minerals sector in Egypt is showing tangible signs of development.

Aton Resources, which owns the Abu Marawat concession in the country’s Central Eastern Desert, noted that Cairo has come a long way in supporting its emerging mining industry. Continue Reading →

How the appointment of four mining CEOs can be used to frame the sector’s 2021 outlook – by David McKay (MiningMX – January 5, 2021)

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THE performance of three of Johannesburg’s largest mining shares by value in 2021 will have much to do with a new generation of CEOs, one of which has already been named.

A permanent change of management is imminent for two of bourse’s largest gold companies, AngloGold Ashanti and Gold Fields, whilst at Glencore, the global diversified miner, Gary Nagle is to replace CEO, Ivan Glasenberg.

A fourth firm, Rio Tinto, replaced its CEO Jean-Sébastien Jacques with Jakob Stausholm. Although not listed in Johannesburg, its direction of travel will be illustrative of industry-wide problems and challenges. Continue Reading →

The father, the son and the holy atom – by Stan Sudol (Northern Miner – December 22, 2020)

(LtoR) George A. Flach, P.Geo., Vice President, Exploration, Director; Tim
Campbell, Vice President & Secretary and Stephen G. Roman, Chairman, President & CEO at the Global Atomic Corporation Annual General Meeting on June 26, 2019. (Photo by Stan Sudol)

Global mining news

“IL EST MORT! He is dead!” At least that was the verdict of five French doctors who were on their way to a medical convention on the Paris to London Eurostar train in 2014, when they briefly examined “the body” of Stephen G. Roman, Global Atomic’s (TSX: GLO; US-OTC: GATF) founder, chairman and CEO.

“I was on my way to meetings in London after visiting our uranium properties in the Republic of Niger, West Africa, just north of Ghana,” Roman recounts. “I had not been feeling very well after I ate a meal before our roughly five-hour plane flight from Niamey to Paris, but I thought I would persevere. Just after being served dinner on the Eurostar, I violently vomited and passed out falling to the floor of the train.”

Luckily, on further examination, a nurse found his pulse and both Roman and George Flach, Global Atomic’s vice president of exploration, were evacuated from the train at Lille, France via ambulance, and brought to a local hospital with all their luggage, where after a day of intensive antibiotic treatment for a highly contagious and virulent intestinal bacteria, Roman finally started to recover. Continue Reading →

Zimbabwe: Losing millions from illicit gold mining trade – by Michelle Chifamba (The Africa Report – December 7, 2020)

https://www.theafricareport.com/

In Zimbabwe, the majority of the working population can be found in the informal sector. And in mineral-rich areas of the country, people are continuously risking their lives digging underground in search of gold, hoping to make enough money to take them out of poverty.

In Mazowe, 40 km outside the capital Harare, artisanal miners have broadened their search for gold ore as they continue digging the soil underground in some cases to over 50 metres deep.

For the past three years, 34 year-old Jude Kore has had the same routine: digging soil every day in search of the precious mineral. Continue Reading →

Videogames have a conflict mineral problem – by Jini Maxwell (Arts Hub.com.au – November, 24 2020)

https://www.artshub.com.au/

On 28 November 2019, a post on the subreddit r/showerthoughts went viral: ‘lamps in video games use real electricity.’ The line quickly made the rounds of the internet, perfectly and whimsically expressing a hard truth around which there is a growing consciousness: while playing videogames might be a form of escapism for some, they are still part of the real world, use real resources, and are impacted by the unequal social structures of human societies.

It’s an uncomfortable but important thing to acknowledge: consumer technologies, including gaming consoles, do rely on real resources, and the specific minerals they require to function can stoke real-world conflicts.

This issue is so prevalent that the major consumer tech companies release annual reports on their conflict mineral supply chains. We’re going to examine those reports here. Continue Reading →

Zinc price soars as Vedanta halts Gamsberg mine after accident – by Cecilia Jamasmie (Mining.com – November 18, 2020)

https://www.mining.com/

Zinc prices climbed on Wednesday to an 18-month high after Vedanta suspended mining at its Gamsberg zinc mine in South Africa following an accident that trapped ten workers.

Vedanta Zinc International (VZI) noted the mine will stay closed until further notice while a search continues for two miners still missing after the incident.

The news comes in a zinc market where mine supply is already tight due mainly to restrictions to help slow the spread of covid-19. Continue Reading →