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Gemfields sees fall in auction revenue

GEMFIELDS Plc estimates a 46 per cent fall in full-year auction revenue after it delayed its rough emeralds auction by a month following a directive by the Zambian government. The government issued a directive in April that all auctioning of emeralds mined in the country be held in Zambia as …

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Copper prices rebound

COPPER prices rebounded last week after latest data in the United States showed demand for the metal could be boosted. Copper for delivery in three months rose as much as 0.6 per cent to US$ 7,738 a metric tonne on the London Metal Exchange and was at US$ 7,725.25 on …

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Gemfields H1 earnings slump to $19.5m on fewer auctions

Gemfields H1 earnings slump to $19.5m on fewer auctions   Aim-listed gemstone miner Gemfields on Monday reported earnings before interest, taxes, depreciation and amortisation of $19.54-million for the half-year ended December 31, 2012. This was down from the $32.44-million posted for the comparative 2011 period. Gemfields’ after-tax net profit also dropped from its …

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MCM invests US27m in upgrading its cobalt plant

MOPANI Copper Mines yesterday unveiled a US$27 million (KR142 million) project for upgrading its cobalt plant aimed at securing more than 300 jobs. According to a press release made available yesterday, Mopani Copper Mines chief executive officer Danny Callow stated that the project was critical to Zambia’s economy as the …

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Optimism in copper Oxide Production

COPPER oxide production ended the year on an impressive note with one of Copperbelt’s major local miners Ground Focus Mining recording a 25 per cent mineral recovery rate. The  Ground Focus Mining managing director Jimmy Mubashi indicated the 4,500metric tones output of copper oxide the company had recorded could double …

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Locomotive safety systems contribute to mining industry

Traffic and transportation engineering solutions supplier A&R Engineering’s latest project, in a three-year partnership with electronic systems designer Embedded IQ, has resulted in a horizontal transport management system designed to provide mines with an integrated system to address all their underground transport requirements. Embedded I Q design personnel have spent …

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