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Chemaf Scraps Norin Mining Deal Amid US-China Mineral Tensions 1 Mining in DRC Cobalt Copper 

Chemaf Scraps Norin Mining Deal Amid US-China Mineral Tensions

Constance
Copper and cobalt producer Chemaf Resources Ltd. has abandoned its planned sale to Norin Mining Ltd., marking a potential victory for US efforts to curb China’s influence over global mineral supply chains. The deal collapsed after Democratic Republic of Congo (DRC) authorities failed to approve the transaction, according to a source familiar with the matter. Chemaf, backed by commodity trader Trafigura Group, informed creditors that the sale to Norin—a subsidiary of China’s state-owned Norinco Group—would not proceed. Congo’s state-owned mining company, Gécamines, which holds the permit for Chemaf’s Mutoshi cobalt… Read More Here
CMOC Posts Record Earnings in 2024 on Strong Cobalt and Copper Output 2 Mining in DRC Battery Metals Cobalt Copper 

CMOC Posts Record Earnings in 2024 on Strong Cobalt and Copper Output

Constance
China’s CMOC Group Ltd., the world’s largest cobalt producer, reported record earnings in 2024, driven by increased production, higher sales, and rising copper prices. The company’s net income surged 64% to 13.5 billion yuan ($1.9 billion), surpassing analysts’ estimates of 12.3 billion yuan. Revenue rose 14% to 213 billion yuan, also exceeding forecasts. CMOC attributed its strong performance to capacity expansions and efficiency improvements. “Mining is a cyclical industry, and accurately understanding market cycles is key to successful expansion,” the company stated in its earnings report. “At the bottom of… Read More Here
Saudi Arabia Grants Mining Exploration Leases to Vedanta, Zijin, and Hancock 3 New Mining Projects Corporate News International 

Saudi Arabia Grants Mining Exploration Leases to Vedanta, Zijin, and Hancock

Constance
Saudi Arabia has awarded mining exploration leases to major global companies, including India’s Vedanta, China’s Zijin Mining Group, and a subsidiary of Australia’s Hancock Prospecting, as part of its strategy to expand and diversify its mining sector. The Ministry of Industry and Mineral Resources announced via X that the leases cover a total area of 4,788 km², including the Jabal Sayid region. This initiative aligns with Saudi Arabia’s Vision 2030, which aims to reduce oil dependency, develop a competitive domestic mining industry, and attract foreign investment. Zijin Mining, in partnership… Read More Here
Panama Awaits Formal Notice on First Quantum's Arbitration Suspension 4 International Copper Corporate News 

Panama Awaits Formal Notice on First Quantum’s Arbitration Suspension

Constance
PANAMA CITY – Panamanian President Jose Raul Mulino stated on Thursday that his government has yet to receive official notification from Canada’s First Quantum Minerals regarding the suspension of arbitration over its Cobre Panama copper mine. An internal memo from Cobre Panama, the company’s local unit, revealed last Friday that First Quantum had instructed its lawyers to begin suspending arbitration proceedings. The cases were originally filed after the Panamanian government shut down the mine in 2023 following widespread protests over environmental concerns. Mulino clarified that his administration cannot engage in… Read More Here
DRC Partners with Indonesia to Regulate Global Cobalt Supply 5 Mining in DRC Battery Metals Cobalt 

DRC Partners with Indonesia to Regulate Global Cobalt Supply

Constance
The Democratic Republic of Congo (DRC) has announced a partnership with Indonesia to strengthen its control over cobalt supply on the international market. The decision, made by the Economic Situation Committee, was officially presented by Prime Minister Judith Suminwa Tuluka during the 35th Council of Ministers meeting on March 14, 2025. Following a four-month suspension of cobalt exports, the DRC—holder of 75% of the world’s cobalt reserves—is determined to manage its supply effectively. The suspension was initially imposed due to an oversupply in global markets, which led to a decline… Read More Here
Francophone Ambassadors Urge Ceasefire and Dialogue Amid Deteriorating Security in DRC 6 Mining in DRC Regional conflict 

Francophone Ambassadors Urge Ceasefire and Dialogue Amid Deteriorating Security in DRC

Constance
On Thursday, March 20, 2025, International Francophonie Day, members of the group of Francophone ambassadors in the Democratic Republic of Congo (DRC) expressed deep concern over the escalating security crisis in the country’s east. This deterioration is primarily attributed to the offensive launched by the March 23 Movement (M23), with support from the Rwandan Defense Force. In a statement released on this occasion, the ambassadors called for an immediate ceasefire and emphasized the need to address deeper issues, such as the illegal exploitation and export of natural resources, particularly to… Read More Here
Trump Announces Measures to Boost U.S. Mineral Production Amid Security Concerns 7 International 

Trump Announces Measures to Boost U.S. Mineral Production Amid Security Concerns

Constance
On Thursday, March 20, 2025, U.S. President Donald Trump unveiled new measures aimed at increasing domestic mineral production, including critical minerals, uranium, copper, potash, and gold. The move is designed to address the ongoing security and economic threats the U.S. faces due to its reliance on foreign mineral supplies, particularly from countries deemed hostile. The new directive mandates that, within 10 days, the Secretary of the Interior, along with presidential assistants for economic policy and security, identify federal lands rich in mineral deposits and reserves. The order prioritizes mineral production… Read More Here
Congo's Copper and Cobalt Export Suspension Impacts Prices 8 Copper Cobalt Economy Mining in DRC 

Congo’s Copper and Cobalt Export Suspension Impacts Prices

Constance
The Central Bank of Congo (BCC) reported on March 19, 2025, a 3.3% decline in the price of copper per tonne compared to December 2024. This drop is attributed to concerns over the Congolese government’s suspension of copper exports to the global market. Since February 22, 2025, the price of copper has continued to decrease, by a 0.15% drop compared to the previous week. The BCC noted that copper prices have fallen by 11.97% since the end of December 2024 and have seen a staggering 60% decline over the past… Read More Here
Zambia and Mozambique Forge Key Energy Partnership with New MoUs 9 Mining in Zambia Energy Events & Expos Partnership 

Zambia and Mozambique Forge Key Energy Partnership with New MoUs

Constance
Zambia and Mozambique have taken a significant step toward strengthening regional energy cooperation with the signing of two Memoranda of Understanding (MoUs) aimed at enhancing power trade and improving infrastructure development between the two nations. The agreements, formalized during the 2025 Zambia International Mining and Energy Conference (ZIMEC), include an Inter-Governmental Memorandum of Understanding (IGMoU) for the development of the Mozambique-Zambia Power Interconnector. This major initiative is set to improve power trade, telecommunications, and power generation in the region. The Mozambique-Zambia Power Interconnector, valued at approximately USD 500 million, will… Read More Here
DRC Seeks U.S. Security Partnership in Exchange for Critical Mineral Access 10 Mining in DRC Battery Metals Regional conflict 

DRC Seeks U.S. Security Partnership in Exchange for Critical Mineral Access

Constance
In a March 19, 2025, interview with Fox News, Congolese President Félix Tshisekedi confirmed his government’s interest in negotiating a security partnership with the United States in return for access to the Democratic Republic of Congo’s (DRC) vast critical mineral resources. “We are looking for partnerships and have established some with several countries. We believe that the United States, given its role and influence in the world, is an important partner for us. We are happy to see that with the Trump administration, things are moving forward at a faster… Read More Here

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