Mining Industry

WGC members vow to improve transparency on gold supply chain

Posted on September 19, 2023September 19, 2023 by Mozambique Resources Post

The World Gold Council (WGC) has announced that its members, which account for the majority of the world’s large-scale gold miners, have committed to taking steps towards providing enhanced transparency in the gold supply chain. All 33 WGC members with operating mines, which collectively produce about 1 300 t/y of gold, have committed to publishing the names and locations of their refining partners on at least a yearly basis, and to include all operations where the primary revenue comes from the production of gold. They have also committed…

First ever IEA Critical Minerals and Clean Energy Summit to take place on 28 September

Posted on September 19, 2023September 19, 2023 by Mozambique Resources Post

The International Energy Agency will host the first ever international summit on critical minerals and their role in clean energy transitions on 28 September 2023 in Paris. The IEA Critical Minerals and Clean Energy Summit will take place at IEA headquarters in Paris and will focus on measures to promote the secure, sustainable and responsible supply of raw materials that have a central role the global clean energy transition. Please note the new information for media and press access further down…

International Cooperation required to get in track for 1.5C Climate Goal – IEA

Posted on September 18, 2023September 18, 2023 by Mozambique Resources Post

Countries must supercharge international collaboration on technologies and markets for sectors such as power, transport, industry, buildings and agriculture, new report finds Insufficient progress in transitions to clean technologies and sustainable solutions over the past year highlights the need for strong and targeted international collaboration in high emissions sectors to deliver transitions that are faster, easier and cheaper for all, according to the latest Breakthrough Agenda Report. The new report – an annual collaboration between…

South Africa: Miners get a faster route to Mozambique port

Posted on September 14, 2023September 14, 2023 by Mozambique Resources Post

South Africa’s mining companies, losing out on billions of dollars in sales due to logistics bottlenecks, could soon have a quicker route to ports in neighboring Mozambique. The Logistics Co (TLC), indirectly owned by Old Mutual’s African Infrastructure Investment Managers, plans to open a trucks-only crossing at Komatipoort, just north of South Africa’s main Lebombo entry point into Mozambique. The project involves upgrading an existing service road along a railway line, and building a truck staging facility that will have customs and immigration offices on the outskirts of the town of Komatipoort, according to Hennie Jooste, head…

Syrah Resources to receive funding for Mozambique graphite project

Posted on September 12, 2023September 12, 2023 by Mozambique Resources Post

The Australian mining company Syrah Resources on Monday announced that it is to receive a loan of 150 million US dollars to fund the development of its Balama graphite project in Balama district, in the northern Mozambican province of Cabo Delgado. The loan is to come from the United States International Development Finance Corporation (DFC), which is the development agency of the US federal government. It will be made to the company’s wholly-owned subsidiary, Twigg…

Mozambique revenues from mineral resources drop by 28.7 per cent over last six months

Posted on September 12, 2023September 12, 2023 by Mozambique Resources Post

The Mozambican State’s revenue from the exploitation of mineral resources by mega-projects fell by 28.7%, in the first half of 2023. The amount earned dropped from 4.8 billion meticais in the first half of 2022 to 3.4 billion meticais from January to June 2023 (from 75 million dollars to 53.1 million dollars, at the current exchange rate). Much of this fall is due to the dramatic collapse in the price of coal on the world…

Global: Ukraine military intelligence regains control of drilling platforms in the Black Sea

Posted on September 12, 2023September 12, 2023 by Mozambique Resources Post

Ukraine’s military intelligence service said its forces regained control of several drilling platforms in the Black Sea that were used by Russia for stationing helicopters and radar activity. Special forces units seized a stockpile of helicopter ammunition and a Neva radar system used to track naval movements from the platforms off Crimea’s coast, the Defense Ministry’s GUR spy agency said in a statement on Monday. A Russian Su-30 fighter jet that engaged with Ukrainian forces on boats…

Global Markets: BMI Reveals Latest Brent Oil Price Forecasts

Posted on September 12, 2023September 12, 2023 by Mozambique Resources Post

BMI, a Fitch Solutions company, has revealed its latest Brent oil price forecasts in a report sent to Rigzone recently. The report shows that BMI sees the commodity averaging $80 per barrel this year, $83 per barrel in 2024 and 2025, and $80 per barrel in 2026 and 2027. A Bloomberg Consensus included in the report projected that Brent would average $81 per barrel in 2023, $83 per barrel in 2024, $81 per barrel in…

Drop in coal prices forces Vulcan to review contracts with suppliers in Mozambique

Posted on September 4, 2023September 12, 2023 by Mozambique Resources Post

The Indian multinational Vulcan, which is mining coal in Moatize district, in the central Mozambican province of Tete, is revising its contracts with various suppliers of goods and services because of the dramatic drop in coal prices on the international market. According to data from the “Trading Economics” website, in one year alone, the price has fallen by 289 dollars per tonne, and currently stands at 147 dollars per tonne. Without much value on the…

Africa Oil & Gas: Nigerian Gas Tanker Explosion Kills At Least 35

Posted on June 21, 2019 by Mozambique Resources Post

Recruiters LoginSign Up Nigerian Gas Tanker Explosion Kills At Least 35 by Reuters | Monday, September 10, 2018 inShare ABUJA, Sept 10 (Reuters) – At least 35 people were killed on Monday and hundreds injured when a gas tanker exploded in northern Nigerian state of Nasarawa and started a blaze, the state emergency agency said. The State Emergency Management Agency (SEMA) official said the accident happened at a petrol station along the Lafia-Makurdi road linking…

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