Constance - Copperbelt Katanga Mining

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CMOC Group Acquires Lumina Gold for C$581 Million to Advance Cangrejos Gold Project

April 25, 2025April 25, 2025 Constance

Chinese mining company CMOC Group has agreed to acquire Canada’s Lumina Gold in an all-cash deal worth C$581 million, marking a significant step for the Cangrejos gold project in Ecuador. Lumina CEO Marshall Koval expressed excitement about the transition of the Cangrejos project, saying, “After more than a decade of advancing the Cangrejos project, we are thrilled to see it move to CMOC, which is poised to further develop it into one of the largest gold projects globally.” CMOC will pay C$1.27 per Lumina share, offering a 71% premium to… Read More Here

Mining Personality Corporate News International

Anil Agarwal Pushes Vedanta Restructuring to Cut Debt and Capitalize on Critical Minerals

April 25, 2025April 25, 2025 Constance

Indian billionaire Anil Agarwal is nearing the completion of a long-anticipated restructuring of his metals-to-energy conglomerate, Vedanta, in a strategic move aimed at reducing the group’s $11 billion debt and providing sharper focus across its diverse businesses. Despite the cooling of aluminum, zinc, and copper prices after their 2024 peaks, the 71-year-old tycoon remains confident that simplifying Vedanta’s corporate structure and capitalizing on rising demand for critical minerals will enhance the group’s appeal — even amid global recession concerns. The demerger plan will result in the listing of Vedanta’s major… Read More Here

Gold Corporate News International

Barrick Gold Considers Exit from Canada with Hemlo Mine Sale

April 25, 2025April 25, 2025 Constance

Barrick Gold is preparing to sell its last remaining Canadian mine, aiming to take advantage of record-high gold prices and renewed investor interest in North American mining assets. According to sources familiar with the matter, the company initiated the sale process for its Hemlo gold mine in Ontario in April and has engaged Canadian Imperial Bank of Commerce (CIBC) to identify potential buyers and manage the bidding process. Neither Barrick nor CIBC has commented publicly on the matter. If completed, the sale would mark Barrick’s full exit from mining operations… Read More Here

Mining in Zambia

Firering Advances Quicklime Production at Zambia’s Limeco Project

April 25, 2025April 25, 2025 Constance

AIM-listed Firering Strategic Minerals has announced notable progress in the commercial ramp-up of its Limeco quicklime project in Zambia. The project is strategically positioned to become a key supplier of high-quality quicklime (calcium oxide – CaO) to the growing copper production sector in the Central African Copperbelt. The company confirmed that it has successfully produced commercial-grade quicklime, setting the stage for its first sales. Optimisation of Kiln 1 is ongoing, with daily output now exceeding 50 tonnes and steadily increasing. Firering CEO Yuval Cohen noted that although the ramp-up is… Read More Here

Mining in Zambia Copper Corporate News Economy

Vedanta Explores U.S. Listing for KCM to Raise $1 Billion

April 25, 2025April 25, 2025 Constance

Vedanta Resources is exploring a potential U.S. public listing for its Zambian subsidiary, Konkola Copper Mines (KCM), as part of efforts to raise approximately $1 billion to fund mine development. The company has appointed Barclays and Citigroup to advise on a potential initial public offering (IPO), which is still in the early stages. New York is being considered as one of the possible listing locations. While no timeline has been confirmed, the listing is seen as one of the most viable options after previous attempts to secure private investment did… Read More Here

International Copper

Panama’s President Asserts Control Over Copper Mine Ahead of Restart Talks

April 25, 2025April 25, 2025 Constance

PANAMA CITY – President Jose Raul Mulino has taken a firm nationalist stance on the future of Panama’s shuttered copper mine, declaring that the asset belongs to the country and any potential reopening will occur under Panamanian terms. Speaking at a weekly press briefing on Thursday, Mulino confirmed that his administration and First Quantum Minerals — the mine’s operator — have begun initial contact to lay the groundwork for formal negotiations. “That mine belongs to Panama, no one else,” Mulino stated. “If the decision is to restart operations, Panama will… Read More Here

International Mining safety

Peru’s Antamina Copper Mine Begins Gradual Restart After Fatal Accident

April 25, 2025April 25, 2025 Constance

This is a developing story. Updates will follow as more information becomes available. LIMA – Peru’s Antamina copper mine has begun a gradual restart of operations, following a tragic incident earlier this week that left one employee dead and another injured, according to a source close to the company. The mine, located in the Ancash region and jointly owned by Glencore, BHP, Teck Resources, and Mitsubishi, is one of the largest copper producers in Peru. Operations were suspended on Tuesday after an accident occurred at the Yanacancha camp, a key… Read More Here

International Battery Metals New Mining Projects

Trump Administration Fast-Tracks 10 Strategic Mining Projects to Boost U.S. Critical Mineral Supply

April 25, 2025April 25, 2025 Constance

The Trump administration has fast-tracked ten mining projects across the United States in a major push to increase domestic production of critical minerals and reduce dependence on foreign supply chains. The selected projects—covering copper, lithium, gold, potash, coal, bromine, and phosphate—involve major industry players such as Rio Tinto, Hecla Mining, Albemarle, Warrior Met Coal, and Perpetua Resources. These initiatives form the first wave under President Trump’s executive order aimed at strengthening American mineral independence. Projects approved for expedited federal permitting include: Rio Tinto’s Resolution Copper project in Arizona Perpetua Resources’… Read More Here

International Corporate News Mining technology Technology & Innovation

Sandvik Secures Record BEV Order for South32’s Hermosa Mine in Arizona

April 25, 2025April 25, 2025 Constance

Swedish engineering giant Sandvik has landed its largest-ever order for battery-electric vehicles (BEVs), with ASX- and JSE-listed South32 selecting the company to supply a fleet of underground mining equipment for its Hermosa critical minerals project in Arizona, USA. The order, valued at approximately SEK 750 million, was confirmed in the second quarter of 2025 and includes a combination of battery-electric and conventional underground mining machines. Deliveries will begin in Q4 2026 and extend through 2030, with the majority of equipment scheduled to arrive in 2026 and 2027. “We’re proud that… Read More Here

International Copper Corporate News

FQM Reports Q1 Loss Amid Cobre Panamá Shutdown and Weaker Copper Sales

April 25, 2025April 25, 2025 Constance

TSX-listed First Quantum Minerals has posted a net loss of $23 million, or $0.03 per share, for the quarter ending March 31, despite achieving an adjusted profit of $2 million. The results reflect ongoing challenges from lower sales volumes, continued costs at the idled Cobre Panamá mine, increased financing and tax expenses, and foreign exchange impacts. The company recorded a gross profit of $331 million and EBITDA of $377 million in Q1. However, the monthly expenditure of approximately $13 million at the suspended Cobre Panamá mine continues to weigh on… Read More Here