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Slow start for Kagem’s emeralds auctions

Kagem Mine has sold a total of US$10.8 million at the company’s auction in India recently. According to the company proceeds from will be fully repatriated, with all royalties due paid on the full sales prices achieved at the auction. The auction was of predominantly commercial quality rough emeralds mined …

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SA steel industry continue to face challenges

Allied Steelrode recently announced that the fluctuating primary pricing threatens the mettle of South Africa’s steel industry. According to industry sources, much of this can be attributed to the extreme volatility of the primary pricing. “This level of volatility poses an enormous and very urgent challenge to the entire sector,” …

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KZN eager to cement bilateral trade with Zambia

South Arica’s KwaZulu-Natal (KZN) has set its eyes on Zambia as a potential investment area. Next month Trade & Investment KwaZulu-Natal (TIKZN), KZN investment promotion arm will welcome 12 companies from the province to explore business opportunities in Zambia. “KZN companies are eager to meet with their Zambian counterparts who …

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Banks must support the mining sector – Gabaraane

Stanbic Bank Zambia says mining is an expensive business that needs stable long-term support from the financial sector. Speaking at the Mining Indaba recently Leina Gabaraane is Chief Executive of Stanbic Bank Zambia further said growing any business needs capital both for asset investment and day-to-day expenses. And the mining …

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Zambia among countries to enjoy mining upturn

Africa’s mining sector is facing the best prospects in over a decade favoured by sustained commodity price growth and reduced costs. “The centrality of mining to the development of the continent means that 2018 is likely to be a watershed year in Africa’s ongoing growth story,” Standard Bank Mining and …

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Jubilee buys 29% stake in BMR

Jubilee Metals Group has acquired a 29.01% interest in the enlarged issued share capital of BMR Group for £500 000 cash. The acquisition increases Jubilee’s interest in the Zambian Kabwe project to 57.41%, subject to Jubilee’s election to execute the Kabwe project. “The acquisition secures Jubilee the right to a …

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Cobalt expected to be in short supply as battery metal demand grows

Analysts have suggested that cobalt will be the battery metal with the tightest supply/demand fundamentals in future. The demand for cobalt is being driven by the continued growth in the electric vehicles sector, which is resultantly driving the demand for this coveted metal. In light of the future fundamentals of …

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Mkango granted licence in Malawi

Mkango Resources has been granted an Exclusive Prospecting Licence for a nickel-cobalt deposit at Chimimbe Hill in the district of Mchinji in Malawi. The Chimimbe Hill licence covers an area of 98.48km² and features laterite and saprolite hosted nickel, cobalt, chrome and other mineralisation. Mkango Resources president, Alexander Lemon, says …

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Alrosa expands Angolan diamond interests

Wargan Holdings, a company whose share capital is 100% owned by Russian group Alrosa, has acquired the 16.4% stake held by Odebrecht Mining Service Investments in the Catoca Mining Company (Sociedade Mineira de Catoca – SMC), according to an order published in Angola’s official bulletin, Diário da República. According to …

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Copper hits two-week low, Zinc at Highest in more than a Decade

COPPER hit a two-week low on Monday, weighed down by a stronger dollar and as the market consolidated following sharp gains in December, while zinc again reached its highest in more than a decade on supply concerns. The dollar rose against the euro, making dollar-priced metals costlier for non-U.S. investors, …

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