Constance - Copperbelt Katanga Mining

Written by Constance

Gemfields’ November Emerald Auction Nets $16.1 Million Amid Market Challenges

November 24, 2024November 24, 2024 Constance

Gemfields has reported revenues of $16.1 million from its November 2024 higher-quality emerald auction. The auction, held online from November 4–21, achieved a 70% sales rate, with 141,084 carats sold out of the 200,460 carats offered across 43 lots. The average price per carat was $113.96, reflecting mixed market dynamics. Adrian Banks, Managing Director of Product & Sales at Gemfields, acknowledged the auction’s mixed outcomes: “Top-quality lots achieved bids close to record levels, but the overall result was disappointing due to weaker and fewer bids for lower-quality grades.” The emerald… Read More Here

Mining in Zambia Corporate News

FQM Empowers Local Businesses with Over K3.4 Million in Grants

November 24, 2024November 24, 2024 Constance

First Quantum Minerals (FQM), through its Kansanshi Mining operations, has disbursed over K3.4 million in grants to 13 cooperatives under the Tujipamo Multi-Purpose Project. This initiative underscores FQM’s commitment to fostering local economic development and sustainable community growth. Launched in 2022, the Tujipamo Project aims to empower small businesses and enhance socio-economic resilience. The grants will provide essential support for cooperatives, enabling them to scale their operations and drive long-term impact. Speaking at the grant handover ceremony, North-Western Province Permanent Secretary, Colonel Grandson Katambi (Rtd), commended FQM for partnering with… Read More Here

Mining in DRC Governance

DRC Minister of Mines & Jean-Jacques Purusi Take Action Against Foreign Involvement in Mining Sites

November 24, 2024November 24, 2024 Constance

The presence of foreigners in Congolese mines took center stage during a strategic meeting on November 19, which brought together the Minister of Mines, Kizito Pakabomba, and South Kivu’s governor, Jean-Jacques Purusi. The discussions focused on addressing the challenges and opportunities in this resource-rich region while emphasizing the enforcement of Congolese mining laws. Both officials underscored the necessity of a robust legal framework to ensure that natural resource exploitation adheres to established regulations. Their joint efforts aim to curb illegal activities and strengthen compliance with the country’s mining code. Separately,… Read More Here

Sponsored Content Electricity Mining in Zambia

Strengthening Zambia’s Economy with Reliable Power Solutions Across Sectors

November 21, 2024November 21, 2024 Constance

Zambia’s ongoing energy crisis presents a significant challenge to economic stability, impacting the productivity and viability of key sectors, including manufacturing, mining, agriculture, and commercial enterprises. Frequent power outages disrupt critical operations, reduce output, and hinder economic growth. Recognising the need for dependable power solutions, DGC Africa has formed a joint venture with Talisman Hire to establish Talisman Hire Kitwe. This collaboration offers both generator rentals and sales to provide businesses with reliable, adaptable power solutions that mitigate the impacts of the country’s energy shortages, helping sustain essential operations across… Read More Here

Mining in DRC New Mining Projects Zinc

Jean-Lucien Busa Highlights Strategic Impact of Kipushi Mine Revival in DRC

November 21, 2024November 21, 2024 Constance

During the inauguration of the Kipushi Company (KICO) zinc production plant in Kipushi, Haut-Katanga, Minister of Portfolio Jean-Lucien Busa underscored the project’s strategic importance to the Democratic Republic of Congo’s (DRC) economy. This partnership between state-owned Gécamines and Ivanhoe Mines positions the DRC as Africa’s top zinc producer and strengthens the government’s economic influence. “This initiative makes the DRC the leading zinc producer in Africa and boosts the State portfolio, enhancing its assets, capacities, and influence within the Congolese economy,” Minister Busa remarked. He praised President Félix Tshisekedi’s vision, reflected… Read More Here

International Electricity

Zimbabwe’s Cost-Reflective Tariffs Drive Energy Investments Amid Power Crisis

November 21, 2024November 21, 2024 Constance

Zimbabwe’s adoption of cost-reflective tariffs has triggered a surge in energy sector investments aimed at alleviating the nation’s ongoing power shortages. Since the tariff adjustment in December 2023, energy projects totaling 3,000 MW are under development, according to Zimbabwe Electricity Supply Authority (ZESA) chairperson Sydney Gata. “Immediately after the tariffs were corrected, we engaged industry, particularly mining, encouraging them to invest in electricity infrastructure,” Gata said at an energy summit in Victoria Falls. Miners were urged to take responsibility for their energy needs instead of relying on government subsidies. “To… Read More Here

Mining in Zambia Copper

Zambia’s Govt Reaffirms Commitment to Mining Sector Growth Amid Strong Copper Production

November 21, 2024November 21, 2024 Constance

Zambia’s government has reiterated its commitment to creating a favorable investment climate in the mining sector, citing impressive increases in copper production as evidence of the success of its policies, according to Canadian miner First Quantum Minerals (FQM). This affirmation followed a recent visit by government officials, including the Ministers of Finance, Mines, Information, and Labour, to FQM’s Kansanshi and Trident mining operations. The visit underscored a significant rise in copper production, which is helping Zambia move closer to its ambitious target of producing 3 million tons of copper annually… Read More Here

International Copper

Peru’s Copper Production Declines 1.2% in September Amid Output Slumps from Top Miners

November 21, 2024November 21, 2024 Constance

Peru’s copper production fell by 1.2% in September, reaching 232,423 metric tons, compared to the same month last year, according to the Ministry of Energy and Mines. Copper is a key industry in Peru, one of the world’s largest producers, which generated 2.76 million tons in 2023. The drop in output was largely driven by decreased production from Peru’s two largest copper miners: Cerro Verde, controlled by Freeport-McMoRan, and Antamina, jointly controlled by Glencore and BHP. Output from both mines declined by 11% and 6.7%, respectively, year-on-year. From January to… Read More Here

Mining in Zambia Electricity

Zambia and Zimbabwe Urged to Diversify Energy Sources Amid Kariba Dam Crisis

November 21, 2024November 21, 2024 Constance

A significant drop in water levels at the world’s largest man-made reservoir, the Kariba Dam, has left Zambia and Zimbabwe without power for hours, underscoring the need for both countries to diversify their energy sources, according to Zambia’s Energy Minister Makozo Chikote. “The over-dependence on hydropower has exposed the vulnerability of our energy mix,” Chikote said. “This has been a wake-up call, prompting us to consider alternative energy sources,” he added during an energy summit in Victoria Falls on Monday. The Kariba Dam, which provides the majority of electricity to… Read More Here

International Copper Mergers & Acquisitions Mining Personality

BHP CEO Mike Henry Foresees $250 Billion Copper Investment to Drive Industry Mergers

November 21, 2024November 21, 2024 Constance

Soaring demand for copper will require an estimated $250 billion of investment over the next decade, fueling further mergers in the industry, according to BHP Group Ltd. CEO Mike Henry. In a Bloomberg Television interview, Henry highlighted the increasing challenges in finding and developing new deposits of critical minerals, which are becoming more costly and technically complex to manage. “This suggests a trend toward consolidation, with companies that have scale, strong balance sheets, and deep technical expertise, like BHP, being well-positioned to lead in the decades ahead,” Henry stated. Copper… Read More Here