Constance - Copperbelt Katanga Mining

Written by Constance

Barrick Continues to Unlock Value Embedded in Its Asset Base

January 3, 2025January 3, 2025 Constance

Barrick is projecting a 30% growth in the production of gold-equivalent ounces from its existing assets by the end of this decade while it continues to unlock the value embedded in its portfolio. Mark Bristow says while Barrick was alert to potentially value-accretive opportunities generated by the consolidation of the industry, it had the rare luxury of doing so from an asset base that would support organic growth well into the future. “Five years ago, we set out to build a sustainably profitable gold and copper business focused on world-class… Read More Here

Copper Economy Mining in Zambia

Zambia Partners with Mercuria and IDC to Enhance Copper Trade

January 3, 2025January 3, 2025 Constance

Independent energy and commodity group Mercuria has entered into a strategic joint venture (JV) partnership with Zambia’s state-owned Industrial Development Corporation (IDC) to establish a metals trading company through Industrial Resources Limited, a wholly owned IDC subsidiary. This partnership positions Zambia, Africa’s second-largest copper producer, to actively participate in minerals trading. Mercuria will support Zambia in building independent institutional marketing and trading capacity for its copper resources. “Our joint venture with IDC marks a significant milestone for Zambia as it positions itself more strategically in the global minerals market,” said… Read More Here

Mining in Zambia Economy

ZDA Achieves $9.89 Billion in Realized Investments, Creating Over 40,000 Jobs

January 3, 2025January 3, 2025 Constance

The Zambia Development Agency (ZDA) has successfully actualized $9.83 billion of the $58.78 billion in committed investments, translating into 497 projects across various sectors. These initiatives, representing a commitment of $18.74 billion, have generated 40,395 jobs, surpassing the initial target of 38,119 jobs. ZDA Director General Albert Halwampa highlighted the Agency’s intensified efforts to support investment projects that foster job creation and economic growth. In 2024, ZDA ramped up its trade, investment, and business development activities through targeted trade missions and enhanced support services to boost competitiveness in key economic… Read More Here

Mining in Zambia Electricity Energy

Zambia Urges Sustainable Energy Investments Amid Power Deficit

December 30, 2024December 30, 2024 Constance

The Ministry of Energy has urged investors to focus on sustainable electricity generation to address Zambia’s power shortage, worsened by climate-related low water levels. Speaking in Lusaka, Permanent Secretary Peter Mumba reaffirmed the government’s commitment to supporting energy sector investments. This call to action came during a meeting with the China Civil Engineering Construction Corporation (CCECC), which plans to develop two solar power plants in Nalolo and Lukulu districts of Western Province. These projects aim to add 600 megawatts to the national grid. PS Mumba disclosed that Zambia’s electricity generation… Read More Here

Mining in DRC Economy Governance

DRC Prime Minister Grants Moratorium on End-of-Year Audits for Businesses

December 30, 2024December 30, 2024 Constance

Prime Minister Judith Suminwa has announced a nationwide moratorium on state services’ control missions targeting companies. The suspension, effective from December 16, 2024, to January 30, 2025, was granted in response to concerns raised by the Federation of Congolese Enterprises (FEC) over administrative burdens at the end of the fiscal year. “I have decided to grant a moratorium on all tax audits, non-tax revenue audits, and routine economic audits to allow economic operators to prepare their financial statements with peace of mind,” wrote the Prime Minister in a letter dated… Read More Here

Mining in DRC

CAMI Urges Mining and Quarry Right Holders to Fulfill 2024 Payment Obligations

December 30, 2024December 30, 2024 Constance

The Mining Registry (CAMI), the official portal for the Democratic Republic of Congo’s extractive sector, has issued a reminder to holders of mining and quarry rights. As of December 15, 2024, payments for annual surface rights for the 2024 financial year have not been confirmed by CAMI’s financial services. In a press release, CAMI’s Director General, Popol Mabolia, called on the affected holders to submit original proof of payment for both the CAMI quota and the DGRAD quota. The submission deadline is 45 days from the publication of the press… Read More Here

Mining in DRC Partnership

DRC and EU Forge Strategic Partnership to Transform Mining Sector

December 30, 2024December 30, 2024 Constance

At the 28th meeting of the Council of Ministers, the Democratic Republic of Congo’s (DRC) Minister of Mines, Kizito Pakabomba, announced the signing of a comprehensive roadmap with the European Union (EU). This ambitious partnership seeks to leverage the DRC’s vast mineral wealth as a catalyst for sustainable and inclusive development. The roadmap comprises 25 strategic actions across five key pillars: attracting investment, enhancing local infrastructure, improving governance and transparency in the mining sector, fostering scientific and technological cooperation, and creating skilled employment opportunities. The overarching goal is to maximize… Read More Here

Mining Equipment International Mining technology

Caterpillar expands its tech capacity in Bangalore

December 28, 2024December 28, 2024 Constance

Caterpillar Inc. has inaugurated a new office in the suburb of Whitefield, Bangalore (Bengaluru) in Karnataka state to expand its digital capabilities. Over the last 53 years, Caterpillar has invested significantly in India, establishing five state-of the art manufacturing facilities as well as two high-tech research and development (R&D) centres which today support 7,000+ employees. The new office is designed to support the growing Cat Digital team, the tech arm of Caterpillar which helps it to drive forward its innovation goals. The statement said: “The young team of software and… Read More Here

International Copper

China smelter group agrees to lower Q1 copper charges

December 28, 2024December 28, 2024 Constance

China’s top copper smelters agreed to price guidance for processing charges in the first quarter of 2025 that was lower than this quarter’s guidance, industry sources said on Thursday, reflecting a lingering shortage of copper concentrates. Smelter representatives at a meeting of the China Smelters Purchase Team in the commercial hub of Shanghai reached agreement on new guidance for copper concentrate processing treatment and refining charges (TC/RCs) at $25 per metric ton and 2.5 cents per pound, said four sources with knowledge of the matter. That was down 28.6% from… Read More Here

Mining in Zambia Electricity

Zambia Sees Growth in Urban Electricity Access, Report Shows

December 28, 2024December 28, 2024 Constance

Zambia has recorded a significant increase in urban electricity access, according to the 2023 National Energy Access Baseline Survey report. The report reveals that, out of more than 1.5 million households in the country, over 80% now have access to electricity, a notable rise from the 64% recorded in previous surveys. Peter Mumba, Permanent Secretary of the Ministry of Energy, attributed this progress to the ministry’s ongoing initiatives in collaboration with various stakeholders. He highlighted that these efforts have played a crucial role in expanding electricity access across urban areas.… Read More Here