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World Bank Approves $100 Million to Bolster Zambia’s Climate and Economic Resilience 1 Mining in Zambia Economy 

World Bank Approves $100 Million to Bolster Zambia’s Climate and Economic Resilience

Constance
The World Bank has approved a $100 million financing package to enhance Zambia’s capacity to manage natural disasters and strengthen its economic and climate resilience. The initiative integrates a Climate and Economic Resilience Development Policy Financing (DPF) grant with a Catastrophe Drawdown Option (Cat-DDO). The financing package includes $25 million to address Zambia’s current economic challenges and promote climate adaptation, alongside $75 million set aside as contingent funding for rapid response to national disasters. This dual approach is designed to help Zambia manage the immediate impact of a severe drought… Read More Here
FQM Trident Empowers Local Suppliers with Business Training in Zambia’s Mining Value Chain 2 Mining in Zambia 

FQM Trident Empowers Local Suppliers with Business Training in Zambia’s Mining Value Chain

Constance
First Quantum Minerals’ (FQM) Trident has launched a five-day “Expand Your Business” (EYB) training programme to enhance the capacity of 50 local suppliers to participate actively in the mining value chain. The programme, delivered by trainers accredited by the International Labour Organization (ILO), highlights FQM’s dedication to fostering sustainable economic growth by empowering local entrepreneurs. The training aligns with the Zambian government’s efforts to increase local content in the mining sector. Held in Solwezi, the initiative aims to equip participants with the skills and expertise needed to compete in global… Read More Here
Barrick Gold Seeks Arbitration with Mali Over Loulo-Gounkoto Dispute 3 International Gold 

Barrick Gold Seeks Arbitration with Mali Over Loulo-Gounkoto Dispute

Constance
Barrick Gold, the leading gold producer in Mali, has submitted a request for arbitration to the International Centre for Settlement of Investment Disputes (ICSID), a World Bank institution. The Canadian company is seeking to resolve ongoing disagreements with the Malian government concerning the Loulo-Gounkoto mining complex, the country’s largest gold mine. In a press release on December 18, 2024, Barrick confirmed its decision to use ICSID’s services to address the dispute. However, the company has not disclosed the specifics of its claims or the nature of the request. It remains… Read More Here
UAE Investors Eye Zambia’s Natural Resources and Trade Potential 4 Mining in Zambia Economy 

UAE Investors Eye Zambia’s Natural Resources and Trade Potential

Constance
Michael Joseph Staford, Chief Financial Officer at Rafmol Gold in the United Arab Emirates (UAE), has expressed the UAE’s interest in collaborating with the Zambian government to invest in Zambia for the benefit of its people. Staford highlighted Zambia’s abundant natural resources, which he believes should directly benefit the Zambian population. He also emphasized Zambia’s strategic position as a central trade hub in Africa, connecting eight countries and boasting a growing network. He noted that the UAE imports over $40 billion in precious metals annually, with 60% coming from Africa,… Read More Here
China Non-Ferrous Invests $100 Million in Zambia’s Shaft 28 Mine 5 Mining in Zambia Copper Economy 

China Non-Ferrous Invests $100 Million in Zambia’s Shaft 28 Mine

Constance
China Non-Ferrous Metal Company has emphasized its commitment to creating opportunities for the local community through its operations. Robert Kamanga, Deputy Chief Executive Officer of Shaft 28 Technical, announced significant progress in the mine’s dewatering process, supported by a $100 million investment. This development was highlighted during a visit to the mine in Luanshya by Water Development and Sanitation Minister, Collins Nzovu. Minister Nzovu noted that the dewatering process will not only help regulate the water levels of the Kafue River but will also benefit small-scale farmers by providing irrigation… Read More Here
Mopani Copper Mine Smelter to Shutdown for Maintenance Until February 2025 6 Mining in Zambia Copper Mine Safety News in Brief 

Mopani Copper Mine Smelter to Shutdown for Maintenance Until February 2025

Constance
The smelter at Mopani Copper Mine in Mufulira will remain out of operation until the end of February 2025 due to a breakdown of the Oxygen Plant at the facility. Mopani Copper Mines Chief Executive Officer, Charles Sakanya, confirmed that the smelter will be temporarily shut down to allow for necessary maintenance work. Sakanya assured that the mine will maintain communication with all stakeholders throughout the refurbishment process. The announcement was made in a statement issued by Mopani Public Relations Manager, Nebert Mulenga. SOURCE:znbc.co.zm Read More Here
Apple Denies Allegations of Conflict Mineral Use, Halts Purchases from DRC and Rwanda 7 Mining in DRC 

Apple Denies Allegations of Conflict Mineral Use, Halts Purchases from DRC and Rwanda

Constance
Apple has firmly rejected allegations that it uses conflict minerals in its products, following a criminal complaint filed by the Congolese government in France and Belgium. The company stated on Tuesday that it had instructed its suppliers earlier this year to cease sourcing tin, tantalum, tungsten, and gold from the Democratic Republic of Congo (DRC) and Rwanda. This decision was reportedly prompted by escalating conflict in the region. In a statement to Reuters, Apple clarified its stance: “We require our suppliers’ smelters and refiners to stop purchasing these minerals from… Read More Here
Barrick’s Pueblo Viejo Remains Committed to Fair Resettlement Process 8 International Gold Press Release 

Barrick’s Pueblo Viejo Remains Committed to Fair Resettlement Process

Constance
 The Barrick operated Pueblo Viejo mine has said it remained committed to an equitable Resettlement Action Plan required to advance the development of the El Naranjo Tailings Storage Facility, which will help extend the life of the mine beyond 2040 while sustaining gold production above 800,000 ounces a year. Barrick’s Dominican Republic country manager, Juana Barcelo, said Pueblo Viejo has been working closely and transparently with those community members who will need to be resettled, including on issues such as the development of the host site, the construction of houses,… Read More Here
Jubilee Metals Faces Power Disruptions at Roan While Advancing Key Projects in Zambia 9 Mining in Zambia Electricity New Mining Projects 

Jubilee Metals Faces Power Disruptions at Roan While Advancing Key Projects in Zambia

Constance
Diversified metals processor Jubilee Metals, which operates in South Africa and Zambia, has reported significant disruptions at its Roan facilities in Zambia due to unplanned power outages. The blackouts have severely impacted production, with Roan operations being particularly vulnerable compared to the Sable refinery, which benefits from private electricity supply. In contrast, Jubilee’s Munkoyo and Project G mining operations remain unaffected and on schedule. The company is actively collaborating with Zambian authorities to manage the timing of outages and power restoration to reduce costs. However, the uncertainty surrounding Zambia’s national… Read More Here
Barrick International Gold Press Release 

Barrick Update on Mali Operations

Constance
Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) reports that although it had previously agreed on a framework to achieve a global resolution of the disputes with the Government of Mali over the Loulo-Gounkoto complex, it has to date been unsuccessful in arriving at a final resolution despite numerous good-faith attempts to negotiate and a willingness to compromise beyond its legal rights. Barrick has engaged constructively with the Malian government and its external advisors over the past 12 months, addressing their requests for an increased share of the economic benefits generated by Loulo-Gounkoto. Notably,… Read More Here

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