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Zambia’s Finance Minister Refutes Tax Holidays for Multinational Mining Companies 1 Mining in Zambia Economy Mining tax 

Zambia’s Finance Minister Refutes Tax Holidays for Multinational Mining Companies

Constance
Zambia’s Finance Minister, Situmbeko Musokotwane, has dismissed allegations that the government provides tax holidays to multinational mining companies, asserting, “There is no mine that has been given a tax holiday.” Speaking in Parliament, Musokotwane emphasized that Zambia’s tax policies are designed to align with international standards, ensuring stability in the mining sector while fostering investment. . He noted that previous policy inconsistencies had led to production declines and mine closures, prompting the government to adopt a more consistent approach. The Minister criticized misinformation from certain civil society organizations and political… Read More Here
Zambia Seeks EU Support to Strengthen Mining and Economic Development 2 Mining in Zambia Copper Economy 

Zambia Seeks EU Support to Strengthen Mining and Economic Development

Constance
Zambia’s Minister of Mines and Mineral Development, Hon. Paul Kabuswe, has called on the European Union (EU) to bolster its support for Zambia’s mining sector and overall economic growth. The Minister made the appeal during a bilateral meeting with EU International Partnership Commissioner Jozef Sikela in Brussels. Hon. Kabuswe emphasized Zambia’s political stability, adherence to the rule of law, and peaceful environment as key factors in attracting European investors. He highlighted the mining sector’s impressive $10 billion investment growth over the past three years and acknowledged the EU’s valuable contributions… Read More Here
ZCCM-IH Invests $10 Million in Zambia’s Groundbreaking Green Bond Initiative 3 Mining in Zambia 

ZCCM-IH Invests $10 Million in Zambia’s Groundbreaking Green Bond Initiative

Constance
ZCCM Investments Holdings PLC (ZCCM-IH) has committed $10 million (ZMW275 million) to the second tranche of the CEC Renewables Limited Green Bond. This tranche, targeting $96.7 million, will finance the 136MW Itimpi-2 solar project, expanding the capacity of the existing 60MW Itimpi-1 solar photovoltaic (PV) plant. Dr. Ndoba Vibetti, ZCCM-IH CEO, highlighted the investment’s alignment with the company’s sustainability objectives. “Our mission is to create tangible wealth sustainably for the benefit of the Zambian people and stakeholders. This green bond financing for solar projects supports that mission while addressing the… Read More Here
Kamoa-Kakula Achieved a Record 45,019 Tonnes of Copper in November 4 Mining in DRC Copper Economy 

Kamoa-Kakula Achieved a Record 45,019 Tonnes of Copper in November

Constance
Kolwezi, Democratic Republic of Congo – Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) Executive Co-Chairman Robert Friedland and President Marna Cloete announced that the Phase 1, 2, and 3 concentrators at the Kamoa-Kakula Copper Complex in the Democratic Republic of the Congo (DRC) achieved a monthly combined production record of 45,019 tonnes of copper in concentrate during the 30 days of November. The concentrators milled 1.2 million tonnes of ore at an average feed grade of 4.58% copper. Production for the year to November 30, 2024, from Kamoa-Kakula now totals 390,061 tonnes of… Read More Here
Barrick Gold Increases Commitment to Pueblo Grande Project in Dominican Republic 5 International Gold New Mining Projects 

Barrick Gold Increases Commitment to Pueblo Grande Project in Dominican Republic

Constance
Precipitate Gold, a TSX-V-listed company, announced that Barrick Gold has amended their earn-in agreement for the Pueblo Grande project in the Dominican Republic, raising its total required work expenditures from $10 million to $22 million. This represents a 120% increase in Barrick’s financial commitment to the project, which is located next to Barrick’s Pueblo Viejo mine. As per the revised agreement, Barrick must now spend an additional $17 million to fulfill its earn-in obligations, which would grant it a 70% stake in the Pueblo Grande project. Since the original agreement… Read More Here
Bristow Faces Geopolitical Struggles as Mali's Military Junta Targets Barrick Gold 6 International Gold 

Bristow Faces Geopolitical Struggles as Mali’s Military Junta Targets Barrick Gold

Constance
Mark Bristow has spent three decades navigating civil wars and coups to build some of Africa’s richest gold mines, but now, Barrick Gold’s CEO is facing pressure from a cash-strapped Mali junta. This comes after a dispute over the division of economic benefits from the country’s largest gold mine. In 2012, when Mali’s government was overthrown, the junta allowed Bristow’s Randgold Resources to continue operations, even granting special permits for the company to fly gold bullion out of the country. However, the relationship has soured over time, and now, a… Read More Here
Panama Divided Over Future of Cobre Panamá Mine Amid Environmental and Economic Concerns 7 International Copper 

Panama Divided Over Future of Cobre Panamá Mine Amid Environmental and Economic Concerns

Constance
A recent nationwide survey in Panama has revealed strong divisions among the population regarding the potential reopening of First Quantum’s $6.5 billion Cobre Panamá copper mine, which has been closed for over a year following a presidential decree. Commissioned by ARCA Media en Direct and conducted by research firm DOXA, the survey involved 1,600 face-to-face interviews across the country, including 400 participants from communities near the mine. The results show a nation torn between concerns about environmental impacts and governance issues, and the mine’s vital economic role. The closure of… Read More Here
Chile to Invest $83 Billion in Mining Projects Through 2033 8 International Copper 

Chile to Invest $83 Billion in Mining Projects Through 2033

Constance
Chile plans to invest approximately $83.18 billion in mining projects between now and 2033, according to a study by state-run agency Cochilco, cited in a newspaper report on Tuesday. This marks a 27% increase from last year’s investment estimate. The Cochilco report, set to be presented on Wednesday, outlines 51 projects across the country, which is the world’s largest producer of copper and the second-largest producer of lithium, a crucial element for rechargeable batteries. Chile’s Diario Financiero reported that the Cochilco study did not include the recently announced $14 billion… Read More Here
Mali Issues Arrest Warrant for Barrick Gold CEO Mark Bristow Amid Rising Tensions 9 Gold International 

Mali Issues Arrest Warrant for Barrick Gold CEO Mark Bristow Amid Rising Tensions

Constance
BAMAKO – Mali, one of Africa’s largest gold producers, has issued an arrest warrant for Barrick Gold CEO Mark Bristow, according to a warrant document seen by Reuters on Thursday. This marks an escalation in the ongoing dispute between the Canadian mining company and the West African nation. The junta-led government of Mali is seeking to increase state revenues from the mining sector as gold prices rise. In an effort to exert pressure on foreign companies, the government has detained mining executives. In September, four senior local employees of Barrick… Read More Here
U.S. Investment Boosts Africa's Strategic Rail Link for Mining and Economic Growth 10 Mining in Zambia Angola Mining in DRC Transport and Logistics 

U.S. Investment Boosts Africa’s Strategic Rail Link for Mining and Economic Growth

Constance
The Lobito Corridor is set to become the largest American investment in African railways, according to US President Joe Biden. This strategic railway link, connecting the Democratic Republic of Congo (DRC) and Angola, is poised to transform the transportation of essential metals used in vehicle manufacturing and wind turbines from mining sites to the port. Stretching 1,344 kilometers, the Lobito Corridor is designed to facilitate the transport of critical minerals, including copper and cobalt, which are vital for the global energy transition. The DRC, responsible for 70% of the world’s… Read More Here

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