Constance - Copperbelt Katanga Mining

Written by Constance

Barrick Declares Q3 Dividend and Buys Back Additional Shares

November 7, 2024November 7, 2024 Constance

Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) today announced the declaration of a dividend of $0.10 per share for the third quarter of 2024. The dividend is consistent with the Company’s Performance Dividend Policy announced at the start of 2022. The Q3 2024 dividend will be paid on December 16, 2024 to shareholders of record at the close of business on November 29, 2024. Barrick also repurchased an additional 4.725 million shares during the third quarter under the $1 billion share buyback program that was announced in February 2024, bringing the total repurchases… Read More Here

International Gold

Barrick Mines Set to Deliver Strong Finish to the Year

November 7, 2024November 7, 2024 Constance

Toronto – Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) dealt with ongoing challenges and made significant progress on many fronts in the third quarter of the year to keep its annual production and cost guidance within reach on the back of the strong performance anticipated in Q4. Gold production was in line with that of the previous quarter while copper production was up 12% quarter on quarter. The Company said it was on track for a materially improved Q4, driven by the continuing ramp-up of the Pueblo Viejo plant expansion, increased throughput at Nevada Gold… Read More Here

Mining in Zambia Copper Exploration New Mining Projects

Statunga Investments Secures Key License for Zambia’s Luansobe Copper Project Expansion

November 5, 2024November 5, 2024 Constance

Zambian mining firm Statunga Investments Limited has obtained an additional small-scale mining license for the Luansobe Copper Project in Zambia. This new license, numbered 34545-HQ-SML, is valid for ten years and authorizes the exploration and extraction of copper, as well as other base and precious metals, over a 384-hectare area. “We now have a second mining license for Luansobe, covering the underground resource area,” stated Colin Bird, Chairman of Galileo Resources. The license supports Galileo Resources’ strategy to develop both open-pit and underground resources at Luansobe. The company is also… Read More Here

Mining in Zambia Drilling

Tertiary Minerals Commences Drilling at Mukai- Copper Project

November 5, 2024November 5, 2024 Constance

The Company has announced that First Quantum Minerals Limited (“First Quantum”) has commenced drilling at the Mukai Copper Project in Zambia following the receipt of all necessary consents. Highlights · The Company has received approval from the Department of Forestry to conduct further mineral exploration, including drilling, in the Licence area (the “Licence”). · Consent has also been granted by the leadership of local tribal group, the Musele Royal Establishment (“Musele Chiefdom”), to conduct mineral exploration on the Licence · Phase 1 drill programme, now underway, will comprise up to… Read More Here

Mining in Zambia

Zambia’s New Policy on Mining Stakes to Preserve Current Operations

November 4, 2024November 4, 2024 Constance

Zambia’s recent plan to increase its ownership stake in specific mining projects will not impact current operations or exploration activities, a senior government official has confirmed. In August, the Ministry of Mines introduced a policy for a state-owned entity to hold at least a 30% share in future critical mineral projects. This approach is designed exclusively for over 40 government-reserved mining permits, and the government plans to attract investment partners to develop these assets, explained Jito Kayumba, special assistant for finance and investment to President Hakainde Hichilema. “No entity currently… Read More Here

Mining in Zambia Copper Corporate News

IRH Advances Sustainable Transformation at Zambia’s Mopani Copper Mines

November 3, 2024November 3, 2024 Constance

International Resources Holding RSC Ltd. (IRH), a natural resources subsidiary of 2PointZero, has shared updates on transformative initiatives underway at the Mopani Copper Mines in Zambia. Acquired in early 2024, IRH aims to establish Mopani as the Copperbelt’s most productive copper mine through technological innovation, sustainability, and workforce collaboration. Transforming Mopani Copper Mines IRH’s acquisition of Mopani Copper Mines aligns with a vision to modernize and decarbonize the operation, with a target to increase copper production to 200,000 tonnes annually within three years. This initiative supports Zambia’s national goal of… Read More Here

Corporate News International

Glencore Maintains 2024 Production Targets Amid Positive Q3 Performance

November 3, 2024November 3, 2024 Constance

Glencore has reaffirmed its full-year 2024 production guidance across all commodities, the company announced in its third-quarter production report on October 30. This stable outlook reflects the addition of steelmaking coal from the July acquisition of a 77% stake in Elk Valley Resources (EVR), Canadian company Teck’s steelmaking coal business, according to CEO Gary Nagle. Throughout Q3, several key operations saw production increases. African Copper output rose by 6,000 tons (13% quarter-over-quarter), Antapaccay by 9,000 tons (35%), Kazzinc by 13,000 tons (27%), Murrin Murrin by 1,000 tons (7%), and Australian… Read More Here

International

Mercuria Eyes African Investments to Expand Metals Trading Operations

November 3, 2024November 3, 2024 Constance

Kostas Bintas, Mercuria Energy Group’s new head of metals, has announced that the trading house is considering stakes in African projects to establish a large-scale metals business. “You will see us very present in Africa and putting our money where our mouth is in respect of the Copperbelt,” Bintas said during a panel at the Financial Times Africa Summit on Wednesday, referring to Africa’s mineral-rich region. Traditionally known for its expertise in oil, natural gas, and power, Mercuria made a substantial return to metals trading this year. This move aligns… Read More Here

Mining in DRC Cobalt Copper

Ivanhoe Mines Issues Third Quarter 2024 Financial Results

November 3, 2024November 3, 2024 Constance

Ivanhoe Mines’ (TSX: IVN) (OTCQX: IVPAF) President Marna Cloete and Chief Financial Officer David van Heerden are pleased to present the company’s financial results for the three and nine months ended September 30, 2024. Ivanhoe Mines is a leading Canadian mining company developing and operating its four principal mining and exploration projects in Southern Africa: expanding production at the world-class Kamoa-Kakula Copper Complex in the Democratic Republic of Congo (DRC); ramping up the ultra-high-grade Kipushi zinc-copper-lead-germanium mine in the DRC; building the tier-one Platreef palladium, rhodium, nickel, platinum, copper and gold… Read More Here

Mining in Zambia Copper Mergers & Acquisitions

Saudi Arabia Nears Stake Acquisition in Zambian Copper Mine as Part of Mining Expansion

October 31, 2024October 31, 2024 Constance

Saudi Arabia is in the final stages of negotiating a stake in a Zambian copper mine, with expectations for a deal to close by year-end, according to Robert Wilt, CEO of Ma’aden, Saudi Arabia’s leading mining company. Speaking at the Future Investment Forum in Riyadh, Wilt indicated that discussions with the Zambian mine’s owners are progressing well. “We’re in advanced discussions with a company and a mine in Zambia, and we expect to finalize by year-end,” said Wilt, who also serves as vice chairman of Saudi Arabia’s international mining venture,… Read More Here