Constance - Copperbelt Katanga Mining

Written by Constance

Anglo American Sees Copper and Diamond Output Slide as Restructuring Efforts Continue

July 27, 2025July 27, 2025 Constance

Anglo American Reports 13% Drop in Copper Output and 26% Fall in Diamond Production Amid Sluggish Demand Anglo American, the London-listed global mining giant, reported a 13% decline in copper production and a 26% drop in rough diamond output for the first half of 2025, reflecting continued weakness in global demand. Copper output fell to 342,200 metric tons, down from the same period last year. However, the company reaffirmed its full-year copper production guidance of 690,000 to 750,000 tons, slightly lower than the 773,000 tons mined in 2024. Copper remains… Read More Here

International Corporate News

Trafigura Faces Pressure Over Share Buybacks Amid Executive Departures and Declining Profits

July 27, 2025July 27, 2025 Constance

Trafigura Delays Share Buybacks as Executive Exodus and Falling Profits Raise Investor Concerns A wave of senior executive departures is putting increased pressure on Trafigura Group’s ability to uphold its employee share buyback commitments, just as its recent profit surge begins to fade. According to people familiar with the matter, Trafigura has postponed approximately 30% of the share repurchases planned for this year. This deferral has sparked concern among current and former traders—many of whom have the majority of their personal wealth tied up in the company—about whether further delays… Read More Here

International Corporate News Mining safety

Newmont Successfully Rescues Trapped Workers After Rockfalls at Red Chris Mine in British Columbia

July 27, 2025July 27, 2025 Constance

Three Workers Rescued After 60-Hour Ordeal at Newmont’s Red Chris Mine in B.C. Three workers trapped underground for more than 60 hours at Newmont Corporation’s Red Chris mine in northwest British Columbia have been safely rescued, the company confirmed late Thursday night. The workers — Kevin Coumbs, Darien Maduke, and Jesse Chubaty — contractors employed by B.C.-based Hy-Tech Drilling, were brought to the surface around 10:40 p.m. local time (1:40 a.m. ET Friday). According to Newmont, all three were in “good health and spirits” after their rescue. The incident began… Read More Here

Mining in Zambia Corporate News Gold

FQM Eyes Gold Streaming from Zambia Mines to Strengthen Balance Sheet

July 27, 2025July 27, 2025 Constance

First Quantum Considers Gold Pre-Payment Deal to Bolster Finances Amid Zambia, Panama Mine Challenges Canadian mining firm First Quantum Minerals is evaluating a gold pre-payment or streaming deal tied to its Zambian operations as a way to strengthen its balance sheet, Chief Financial Officer Ryan MacWilliam told analysts on Thursday. The move comes as the company seeks alternative funding avenues beyond a minority stake sale in its Zambian assets. Last year, First Quantum had explored selling a minority interest in its Kansanshi and Sentinel mines in Zambia. While that option… Read More Here

International Copper Corporate News

FQM Projects $18M Monthly Cost to Maintain Closed Cobre Panama Mine

July 27, 2025July 27, 2025 Constance

First Quantum Sees Monthly Maintenance Costs Rise at Panama Copper Mine Canadian mining company First Quantum Minerals announced on Wednesday that it expects monthly costs related to the upkeep of its closed Cobre Panama copper mine to rise to approximately $17 million to $18 million. This increase follows Panama’s approval in May of the company’s Preservation and Safe Management (P&SM) plan, which permits First Quantum to export copper concentrate stored at the site and restart the thermoelectric power plant at the mine. Cobre Panama has been shut since 2023, after… Read More Here

Mining in DRC

DRC Mining Audit Uncovers Major Shortfall in Funds for Community Development

July 27, 2025July 27, 2025 Constance

DRC Mining Companies Underreport Billions in Revenue, Dodging Millions in Community Development Contributions As part of its 2024 annual activity program, the Democratic Republic of Congo’s (DRC) Court of Auditors conducted an audit on the management of a mandatory 0.3% turnover contribution by mining companies toward community development projects. This audit covered the period from 2018 to 2023 and focused on the compliance of mining companies operating in the production phase, as required under Article 258 bis of the DRC Mining Code. The Court’s investigation uncovered substantial irregularities that undermine… Read More Here

Mining in DRC

DRC Establishes Carbon Market Regulatory Authority to Boost Oversight and Investment

July 26, 2025July 26, 2025 Constance

DRC Launches Carbon Market Regulatory Authority to Strengthen Oversight and Attract Green Investment On Wednesday, July 23, 2025, a series of presidential ordinances were announced on Congolese National Radio and Television (RTNC) by Tina Salama, spokesperson for the President of the Democratic Republic of Congo (DRC). Among the key announcements was the creation of a new public institution: the Carbon Market Regulatory Authority (ARMCA). Established on the government’s recommendation, ARMCA aims to regulate and manage the country’s emerging carbon credit market. Jacques Célestin Moliba Bakanza has been appointed as Chairman… Read More Here

Mining in Zambia Economy

IMF Releases $184 Million to Zambia Under Extended Credit Facility After Positive Fifth Review

July 26, 2025July 26, 2025 Constance

IMF Approves Fifth Review of Zambia’s Credit Program, Unlocking $184 Million Disbursement The International Monetary Fund (IMF) Executive Board has completed the fifth review of Zambia’s 38-month Extended Credit Facility (ECF), approving an immediate disbursement of SDR 139.88 million (approximately US$184 million). This brings the total disbursements under the program to SDR 1.13 billion (around US$1.55 billion). Launched in August 2022, the ECF-supported program is designed to help Zambia restore macroeconomic stability, ensure debt sustainability, and foster inclusive economic growth. The IMF described Zambia’s progress under the program as “broadly… Read More Here

International Infrastructural Development

Angola Secures €75 Million from AFC to Build 186 Bridges and Upgrade National Roads

July 26, 2025July 26, 2025 Constance

Angola Accelerates Infrastructure Growth with €75 Million Boost from Africa Finance Corporation Angola has received a significant boost to its transportation infrastructure, with the disbursement of €75 million from the Africa Finance Corporation (AFC). This funding is part of an €85 million sovereign facility designed to transform the country’s national road network. The investment will support the construction of 186 priority bridges and strategic upgrades to key national roads. These initiatives are aligned with Angola’s National Development Plan (2023–2027), which aims to modernize infrastructure, enhance connectivity, and stimulate economic growth.… Read More Here

Mining in Zambia Corporate News Energy Press Release

Mining Industry’s Contribution to Energy Sector Paves Way for Renewable Power Integration and Investment

July 25, 2025July 25, 2025 Constance

In order to stabilise the 330kV electricity network in Zambia’s North-Western Province, ZESCO, along with partners FQM and Barrick, is embarking on a major initiative to strengthen and modernise the region’s power infrastructure. The project, the result of a collaborative effort between ZESCO, FQM, Barrick and technical partners ADC and Zutari, is aimed at developing and implementing a robust solution for the long-term stability and reliability of the electricity network, which is crucial for supporting the expanding mining operations in the region. FQM will be implementing the first phase of… Read More Here