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CITIC Metal gets internal green light to buy 19.5% stake in Ivanhoe

By: Marleny Arnoldi     9th July 2018 China State-owned investment company CITIC’s subsidiary CITIC Metal has completed its confirmatory due diligence and has received the necessary internal approvals to complete the long-term, strategic cooperation and investment agreement with TSX-listed Ivanhoe Mines.  

China Inc takes another bite of Congo's copper mining riches

By: Bloomberg     12th June 2018 China is making another big bet on copper in the Democratic Republic of Congo, deepening its presence in a country that’s proved very difficult for Western business. Congo holds huge reserves of copper, but is also one of the hardest countries to navigate -- with problems with security,... 

World Mining Congress 2018: A driver for developing mining industry in Kazakhstan

11th June 2018 There is less than two weeks left before the start of the key world event in the mining and metallurgical industry - the 25th World Mining Congress, which will be held in Astana. Such a large-scale event of world significance will be held for the first time not only in Kazakhstan, but also in the... 

Peru cenbank urges government to help revive mining projects

By: Reuters     1st June 2018 The manager of Peru's central bank urged the government of President Martin Vizcarra on Thursday to do more to revive mining projects that have been derailed by protests. Renzo Rossini, of the central bank, said three suspended mining projects – Southern Copper Corp's Tia Maria, Newmont Mining... 

DRC Mining Code draft regulations complete, but industry still hopes for changes

By: Marleny Arnoldi     15th May 2018 Major mining companies operating in the Democratic Republic of Congo (DRC) remain hopeful that meaningful changes can still be made to the 2018 Mining Code.  

Industry hopeful that DRC mining code issues can be resolved

By: Simone Liedtke     23rd April 2018 Mining companies operating in the Democratic Republic of Congo (DRC) are hopeful that their current engagement with civil society and other key interest groups will contribute to a better understanding of certain issues that need to be dealt with before the country’s new mining code is... 

DRC curbs expectations of miners about concessions on code

By: Bloomberg     19th March 2018 Mining companies in the Democratic Republic of Congo (DRC) won’t secure substantial concessions in talks with the state about changes to the industry code, a senior mining official said. The operators, including Glencore Plc and Randgold Resources, are pressing the government to row back on some... 

China's Zijin Mining interested in Serbian copper mine RTB, Belgrade says

By: Reuters     12th March 2018 China's Zijin Mining Group has expressed interest in buying loss-making Serbian copper miner and smelter RTB Bor, which the Balkan state has been trying to sell for the past decade. President Aleksandar Vucic on Monday met representatives of the Chinese firm, who expressed an intention to invest... 

Ivanhoe welcomes ‘positive’ discussions with Kabila on DRC mining code

By: Marleny Arnoldi     9th March 2018 Diversified miner Ivanhoe Mines has welcomed the commitment made on Wednesday by mining industry representatives and Democratic Republic of Congo (DRC) President Joseph Kabila to continue productive and mutually advantageous discussions to resolve industry concerns arising from the DRC’s 2018... 

Kazakh miner ERG revives sale of Congo copper mine – sources

By: Reuters     7th March 2018 Debt-laden Kazakh miner Eurasian Resources Group (ERG) has revived efforts to sell its Frontier copper mine in Democratic Republic of Congo (DRC) despite a drop in valuation to about $400-million, two banking sources said. The company, which is working with VTB Capital and Rothschild to spin off... 

Miners report some infrastructure damage after Papua quake

By: Reuters     27th February 2018 Miners in northwest Papua New Guinea reported some damage to infrastructure following a powerful magnitude 7.5 earthquake on the weekend, as projects in the resource-rich region assess the impact on their operations. Barrick Gold said a power station that supplies its Porgera gold mine had been... 

Top mining companies' value increased by 15.5% y/y

By: Megan van Wyngaardt     12th February 2018 The 25 top global mining companies were worth an aggregate $818.2-billion at the end of January, a 15.5% increase compared with their value in the corresponding month in 2017, when the same companies held a value of $708.5-billion, research firm S&P's Global Market Intelligence said on Monday. A... 

Revamped Barrick harkens back to founding principles as 'new generation' of discovery, partnerships beckon

By: Henry Lazenby     23rd January 2018 The world's largest gold producer by output Barrick Gold is looking towards a more sustainable future based on a leaner, more tightly owned portfolio, with future growth increasingly hinging on forming synergistic partnerships with former mining rivals. With the gold price off to a strong start... 

Ivanhoe’s DRC copper mines connected to grid as hydropower plant is upgraded

By: Megan van Wyngaardt     8th January 2018 TSX-listed miner Ivanhoe Mines on Monday said its Kakula mine development site, 10 km south of Kamoa’s initial Kansoko mine site, in the Democratic Republic of Congo (DRC), started receiving power from the national grid in December. Kakula’s development is being fast-tracked, with a... 

Ivanhoe's Congo success follows deals with President's brother

By: Bloomberg     18th July 2017 In the two decades since billionaire mining investor Robert Friedland founded Ivanhoe Mines, his small team has made some of the biggest mineral discoveries in the world. In the Democratic Republic of Congo, it has done so while trading and contracting with companies controlled by one of... 

Gold makes run toward $1 300 as risk flares from UK to Mideast

By: Bloomberg     7th June 2017 Gold’s taking aim at $1 300 an ounce. The metal has rallied to the highest since November as investors position themselves for the outcome of the UK election and potential drama of former FBI Director James Comey’s testimony, while also tracking tensions in the Middle East. Bullion for immediate... 

Ivanhoe receives final instalment from Zijin for Kamoa stake

By: Creamer Media Reporter      23rd May 2017 TSX-listed Ivanhoe Mines has received the final installment of $41.2-million owing from a subsidiary of Zijin Mining Group as part of a strategic codevelopment agreement under which Zijin acquired 49.5% of Ivanhoe’s majority stake in Kamoa Holding for $412-million. Kamoa Holding has an indirect... 

Despite slower growth, China still key market for miners and Africa

By: Keith Campbell     21st April 2017 There can be no doubt that, for the past two decades-and-a-half or so, the biggest single influence on the global mining industry has been China. Between 2002 and 2012, that country experienced an annual average real gross domestic product (GDP) growth rate of 10.4%, compared with India’s 7.6%,... 

Despite slower growth, China still key market for miners and Africa

By: Keith Campbell     21st April 2017 There can he no doubt that, for the past two decades-and-a-half or so, the biggest single influence on the global mining industry has been China. Between 2002 and 2012 that country experienced an annual average real gross domestic product (GDP) growth rate of 10.4%, as against India’s 7.6%, the... 

Delivering integrated power solutions for African projects

By: Tasneem Bulbulia     24th February 2017 Integrated energy solutions provider Zest Energy, a member of the Zest WEG group, is set to hand over a power generation solution for Syrah Resources’ Balama graphite mine, in Mozambique, at the end of April. This flagship project – the company’s largest power plant in terms of power output –... 

Ivanhoe to release Kamoa-Kakula PEA this week

By: Natasha Odendaal     13th December 2016 The preliminary economic assessment (PEA) detailing the initial options available to TSX-listed Ivanhoe Mines to begin its copper mining operations in the Democratic Republic of Congo, is expected to be finalised this week. The independent PEA of the Kakula and Kamoa deposits aims to establish... 

Kamoa-Kakula PEA to be completed by year-end

2nd December 2016 Canadian miner Ivanhoe Mines subsidiary Kamoa Copper SA has retained Australian consultancy OreWin to prepare a preliminary economic assessment (PEA) for the development of the Kakula deposit in the Democratic Republic of Congo (DRC). The PEA is expected to be completed before the end of the... 

Production fast-tracked during Phase 1 of Ivanhoe’s Platreef development

By: Anine Kilian     28th November 2016 The main sinking phase of Africa-focused mining developer Ivanhoe Mines’ Limpopo-based Platreef development is expected to reach 980 m below surface in 2018, the company noted during a project update on Monday. Executive VP of operations Mark Farren added that underground access to the deposit... 

Ivanhoe expands its malaria campaign in DRC

By: Anine Kilian     23rd November 2016 Africa-focused project developer Ivanhoe Mines is expanding its Know for Sure campaign, an initiative sponsored by Ivanhoe and China-based gold, copper and nonferrous metals producer Zijin Mining Group to help control malaria in the Democratic Republic of Congo (DRC). The project uses mobile... 

DRC govt gains additional 15% stake in Ivanhoe’s Kamoa–Kakula project

By: Megan van Wyngaardt     18th November 2016 TSX-listed Ivanhoe and its joint venture partner Zijin Mining Group have transferred a further 15% interest in the Kamoa-Kakula copper project to the Democratic Republic of Congo (DRC) government. The government now owns 20% of the project, while Ivanhoe and Zijin each hold an indirect 39.6%... 

Ivanhoe banks third $41.2m tranche of Zijin’s $412m Kamoa/Kakula investment

By: Henry Lazenby     26th October 2016 Africa-focused project developer Ivanhoe Mines has received the third of five instalments from Chinese mining company Zijin Mining Group. The transaction is part of Zijin’s strategic co-development agreement under which it acquired 49.5% of Ivanhoe’s majority stake in the Kamoa-Kakula copper... 

Barrick’s $1bn Super Pit stake said to draw Kinross, Zijin

By: Bloomberg     7th October 2016 Barrick Gold’s stake in the Kalgoorlie Super Pit mine has drawn interest from Kinross Gold and Zijin Mining Group in a sale that could fetch as much as $1-billion, people with knowledge of the matter said. Australian producers Newcrest Mining, Northern Star Resources and Evolution Mining are... 

Ivanhoe starts supplying power from first of three DRC hydropower plant upgrades

By: Henry Lazenby     14th September 2016 Ivanhoe Mines has started supplying electricity to the Democratic Republic of Congo (DRC) national grid from the first of three hydropower plants it has agreed to upgrade in collaboration with its joint venture (JV) partners. Ongoing upgrading work at the Mwadingusha hydropower plant, financed by... 

Ivanhoe eyes Q3 maiden resource estimate for major DRC copper discovery

By: Natasha Odendaal     15th August 2016 TSX-listed Ivanhoe Mines is preparing to embark on a preliminary economic assessment for its “game-changing” Kakula discovery as soon as it receives an initial, independent mineral resource estimate at the end of the third quarter of 2016. The latest drilling results from the deposit within the... 

DRC mining sector still attractive investment destination, despite risks

By: Ilan Solomons     5th August 2016 The Democratic Republic of Congo’s (DRC’s) mining sector will receive increasing amounts of foreign investment in the coming years, particularly from China, as a result of its low production costs and high-quality minerals, says research firm BMI, a unit of the Fitch Group. Nevertheless, the... 

Ivanhoe receives second $41.2m payment from Zijin

By: Anine Kilian     11th July 2016 TSX-listed Ivanhoe Mines has received the second installment of $41.2-million from a subsidiary of Zijin Mining Group as part of the subsidiary’s acquisition of 49.5% of Ivanhoe’s stake in the Kamoa copper discovery in the Democratic Republic of Congo. Zijin – through its subsidiary Gold... 

Cheap gold mines disappear as buyers splurge for surging bullion

By: Bloomberg     30th June 2016 So much for the run on cheap gold mines. Producers who were forced by slumping prices to unload assets last year are regaining leverage. With bullion off to its biggest rally to start a year in four decades – aided by the UK’s vote to quit the EU – mine buyers are paying higher premiums and the... 

Ivanhoe PFS reports robust metrics for Kamoa copper project

By: Henry Lazenby     23rd February 2016 Africa-focused project developer Ivanhoe Mines has reported strong results of a prefeasibility study (PFS) that was undertaken to develop the first phase of its Kamoa copper project, located in the Democratic Republic of Congo (DRC), the company said on Tuesday. An independent PFS by OreWin,... 

Miner implements programme to improve DRC’s health services

4th December 2015 Canadian mineral and exploration development company Ivanhoe Mines launched the Ivanhoe Mines Fionet programme in the third quarter of 2015, to improve health services in the Democratic Republic of Congo (DRC), where it operates two copper projects. 

Barrick closes $298m Porgera JV deal with Zijin

By: Henry Lazenby     31st August 2015 The world’s largest gold producer by output Barrick Gold on Monday announced that it had closed a deal forming a strategic partnership with Zijin Mining Group. The Chinese firm initially acquired a 50% interest in Barrick Niugini (BNL) for $298-million in cash. 

YELLOW METAL

By: Martin Creamer     21st August 2015 George Fang, executive director and vice president at Zijin Mining Group, the world's biggest gold producer by market value, is also the new executive chairperson of the Zijin-controlled Norton Goldfields of Western Australia, where Chinese executives are on the hunt for more in the belief that... 

Ivanhoe, Zijin extend Kamoa transaction completion date

By: Megan van Wyngaardt     4th August 2015 TSX-listed Ivanhoe Mines and Zijin Mining Group have extended the completion date for Zijin's planned investment in Ivanhoe's Kamoa copper project, in the Democratic Republic of Congo, to 15 business days after the satisfaction or waiver of all conditions precedent to the transaction have been... 

Barrick sells 50% of Zaldívar copper mine, forming partnership with Antofagasta

By: Henry Lazenby     30th July 2015 The world’s largest gold miner by output Barrick Gold has agreed to sell half of its interest in the Zaldívar copper mine, in Chile, to Antofagasta for $1-billion in cash, forming a partnership with one of the world’s largest copper producers. Barrick was in the process of reducing its... 

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