Constance - Copperbelt Katanga Mining

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Zambia Poised to Achieve 1 Million Tonnes of Copper Output by Late 2025

January 12, 2025January 12, 2025 Constance

Copper production in Zambia is forecasted to reach one million tonnes annually by the close of 2025, according to the Ministry of Mines. Permanent Secretary Hapenga Kabeta attributes this growth to increasing production levels at key mining operations, including Barrick Lumwana, Trident in Kalumbila, and Kansanshi Mines. This achievement represents significant progress toward President Hakainde Hichilema’s ambitious target of three million tonnes annually by 2030. Copper production has been steadily climbing since 2022, shortly after President Hichilema assumed office. In a notable turnaround, operations resumed at Mopani Mines and Konkola… Read More Here

Mining in DRC Oil & Gas Petroleum

Global Oil Price Hike Boosts DRC Revenue but Poses Local Economic Challenges

January 12, 2025January 12, 2025 Constance

The price of a barrel of oil, one of the Democratic Republic of Congo’s (DRC) key export products, rose by 1.00% on international markets, reaching $73.38 during the week of December 20–27, 2024, up from $72.65 the previous week, according to the Central Bank of Congo (BCC). This rebound follows a 1.53% decline the prior week and is attributed to China’s announcement of an expansionary fiscal policy aimed at revitalizing its economy. The price increase presents mixed outcomes for the DRC: Economists emphasize the need for balanced management of these… Read More Here

Mining in DRC Hydro power plant

Katende Hydropower Project Resumes Promising Economic Revival in Central DRC

January 12, 2025January 12, 2025 Constance

The long-awaited resumption of construction on the Katende hydroelectric power station in Kasaï Central has gained momentum with the delivery of over 120 tonnes of materials from Lubumbashi. This milestone signals a renewed commitment by the Congolese government to address the region’s energy deficit and stimulate economic growth. Funded directly by the public treasury to bypass bureaucratic delays, the Katende project reflects a strategic shift in approach. With 45% of construction already completed, the remaining work will be executed in three phases. The first phase is expected to deliver 16… Read More Here

Mining in DRC Governance

DRC Minister Receives Report Exposing South Kivu Mining Violations

January 12, 2025January 12, 2025 Constance

The Democratic Republic of Congo’s (DRC) Minister of Mines, Kizito Pakabomba, received a detailed report on January 8, 2025, from the Special Commission tasked with assessing the compliance of mining activities in South Kivu. After 15 days of rigorous investigations, the Commission reviewed operations of 18 out of 30 mining companies summoned by the Ministry of Mines. The report uncovered significant violations of the Mining Code and regulations, including: Minister Pakabomba commended the Commission for its thorough work and reaffirmed his ministry’s commitment to fostering sustainable and lawful mining practices.… Read More Here

Mining in DRC Copper Corporate News Press Release

Ivanhoe Mines provides update to 2025 capital expenditure guidance

January 12, 2025January 12, 2025 Constance

Ivanhoe Mines’ (TSX: IVN) (OTCQX: IVPAF) Executive Co-Chair Robert Friedland and President Marna Cloete announced the company’s fourth quarter and full-year production results for the Kamoa-Kakula Copper Complex in the Democratic Republic of the Congo (DRC) and the ultra-high-grade Kipushi zinc mine, also in the DRC. In addition, the company has announced its 2025 production guidance for Kamoa-Kakula and Kipushi, as well as updated 2025 group capital expenditure guidance. Kamoa-Kakula delivered record production in 2024 of 437,061 tonnes of copper in concentrate, a 12% year-on-year increase, following the ramp up… Read More Here

Mining in DRC

DRC Exposes Illicit Resource Exploitation by AFC-M23 Coalition

January 12, 2025January 12, 2025 Constance

The Democratic Republic of Congo (DRC) has accused the AFC-M23 coalition of illicitly exploiting natural resources, generating over $800,000 in monthly revenues. This revelation was made by the Minister of Foreign Affairs, Thérèse Kayikwamba Wagner, during a press briefing on January 9, 2025, organized by Minister of Communication and Media, Patrick Muyaya. A report by the UN Panel of Experts, cited by Minister Kayikwamba, highlights that over 10,000 artisanal miners work in Rubaya under the coalition’s administration. Taxes are levied at rates of $7 per kilogram of coltan and $4… Read More Here

Mining in DRC Corporate News News in Brief Press Release

Ivanhoe Mines Launches an Offering of US$600,000,000 Senior Notes Due 2030

January 12, 2025January 12, 2025 Constance

Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) announces that it has commenced an offering (the “Offering”) of an aggregate principal amount of US$600,000,000 senior notes due 2030 (the “Notes”). The Notes will be senior unsecured obligations of the company and will be guaranteed on a senior basis by certain of the company’s subsidiaries (the “Guarantors”). In connection with the Offering, the company entered into a US$120.0 million revolving credit facility agreement dated December 22, 2024, with, amongst others, the Guarantors and the lenders named therein. The gross proceeds from the Offering… Read More Here

Mining in DRC Artisanal mining

Tshopo Province Cracks Down on Illegal Mining Operations

January 12, 2025January 12, 2025 Constance

The Tshopo provincial government has initiated decisive measures to address illegal mining operations, which have been rampant in the region for years. A total of 142 mining companies are reportedly operating without proper authorization, leading to significant revenue losses for the province. In a press release dated January 6, 2025, the government instructed all managers of mining and exploitation companies to register with the provincial Ministry of Mines by January 20, 2025. Companies failing to comply will face legal sanctions. Provincial Minister of Mines, Thomas Mesemo wa Mesemo, expressed frustration… Read More Here

Mining in DRC Coltan

DRC Rebels Disrupt Global Mineral Supply with Illegal Coltan Exports to Rwanda: UN Report

January 10, 2025January 10, 2025 Constance

Rebels in eastern Democratic Republic of Congo (DRC) illicitly exported at least 150 metric tons of coltan to Rwanda in 2023, marking the largest contamination of the Great Lakes Region’s mineral supply chain on record, according to a United Nations report. The illegal trade began after the M23 movement, a Tutsi-led rebel group allegedly supported by Rwanda, seized the Rubaya area—a region rich in minerals used in smartphones and computers—following heavy fighting in April. M23’s control of transport routes from Rubaya to Rwanda facilitated the mixing of Congolese coltan with… Read More Here

International Corporate News

Panama opens public consultation on First Quantum mine

January 10, 2025January 10, 2025 Constance

Panama’s government has kicked off a public consultation on an environmental audit of First Quantum Minerals’s (TSX: FM) Cobre Panama copper mine, which was announced in mid-2024 by then president-elect José Raúl Mulino. The Ministry of Environment (MiAmbiente) invited this week environmental organizations, local communities, academia, the private sector, and the general public to participate in the process, which will remain open until February 7. Mulino announced in July last year he would order a “strict audit” of the $10 billion mine, which was shuttered in 2023 after Panama’s Supreme… Read More Here