Constance - Copperbelt Katanga Mining

Written by Constance

Peru’s Copper Production Drops 11.7% in June Amid Ongoing Industry Challenges

August 14, 2024August 14, 2024 Constance

Copper production in Peru fell by 11.7% year-on-year in June, reaching 213,578 metric tons, according to the country’s energy and mines ministry. For the first half of 2021, total production amounted to 1.29 million tons, reflecting a 2.1% decline compared to the same period last year. Peru, which has slipped to the third-largest copper producer globally after being overtaken by the Democratic Republic of Congo, is projected to produce 3.00 million tons of copper this year, up from 2.76 million tons in 2020, according to the ministry. The Peruvian government… Read More Here

Jiangxi Copper’s subsidiary halts production after fatal accident

August 14, 2024August 14, 2024 Constance

Jiangxi Copper’s subsidiary has suspended its plant in Shandong province after a fatal copper furnace accident, according to a company statement on Monday. Shandong Humon Smelting, controlled by top copper producer Jiangxi Copper, said three workers were killed and fourteen were injured. There was an unexpected spill from the plant’s side-blown copper furnace, the company said, without giving the date of incident. Production has been halted amid an ongoing investigation, the gold-copper producer said. Humon produced 203,023 metric tons of copper last year, according to its annual report. Jiangxi Copper… Read More Here

International Copper Gold

Barrick Gold Expresses Interest in Cobre Panama as Future Partner Amid Ongoing Disputes

August 14, 2024August 14, 2024 Constance

Barrick Gold (NYSE: GOLD) is prepared to step in as a partner in the Cobre Panama copper mine once the Panamanian government resolves the ongoing dispute over the asset, CEO Mark Bristow stated on Monday. The mine, currently owned by First Quantum Minerals, has been embroiled in controversy since November, leading to its closure following widespread protests. The new administration under President Jose Raul Mulino, in power since July, has announced that a decision regarding the mine’s future—which contributes 1% of global copper output and 5% of Panama’s GDP—will be… Read More Here

Mining in Zambia Electricity Energy

President Hichilema Launches 300MW Maamba Power Plant Expansion

August 14, 2024August 14, 2024 Constance

Maamba Energy Ltd and Zambia’s energy sector celebrated a significant milestone as President Hakainde Hichilema officially commissioned the Phase Two expansion of a 300MW thermal power plant at a groundbreaking ceremony in Maamba. This project is crucial for meeting Zambia’s energy demands and enhancing regional energy trade. Maamba Energy Ltd, a joint venture between ZCCM-IH (35%) and Nava Bharat (65%), is dedicated to providing reliable and sustainable energy solutions for the country. President Hichilema urged all stakeholders to ensure the timely completion of the project, underscoring its importance for Zambia’s… Read More Here

International Gold

Caledonia Mining on Track to Meet 2024 Gold Production Goals

August 12, 2024August 12, 2024 Constance

Caledonia Mining, listed on the AIM, has announced it is on course to meet its full-year production target of 74,000 to 78,000 ounces at its Blanket gold mine in Zimbabwe. In the quarter ending June 30, the mine produced 20,773 ounces of gold, a significant increase from the 17,436 ounces produced in the same period in 2023. The on-mine cost for the quarter was reduced to $906 per ounce, down from $915 per ounce in the previous year. Caledonia reported gross revenues of $50.1 million for the quarter, up from… Read More Here

International Gold

B2Gold Lowers 2024 Production Forecast Amid Fekola Mine Delays

August 12, 2024August 12, 2024 Constance

B2Gold, a Canada-based precious metals miner, has revised its 2024 production guidance downwards due to lower-than-expected output from its Fekola mine in Mali. The company now forecasts total production between 800,000 and 870,000 ounces for the year, including 20,000 ounces from the recently sold Calibre Mining. This is a reduction from the previous range of 860,000 to 940,000 ounces, which had included 40,000 to 50,000 ounces from Calibre before its sale in June. The drop in Fekola’s output—expected to be around 50,000 ounces less for the full year—stems from delays… Read More Here

Copper Mining in Zambia

Mopani Copper Mines Expands Operations with New Shafts to Boost Production

August 11, 2024August 11, 2024 Constance

Mopani Copper Mines is sinking three new shafts at its Kitwe and Mufulira sites, aiming to increase annual copper production to 225,000 tonnes upon completion. Speaking at the 96th Agricultural and Commercial Show, Mopani’s Public Relations Officer, Lillian Musenge, highlighted that one of the key challenges for the mine is its aging infrastructure. “Creating a Competitive Future” is this year’s theme for the Agricultural and Commercial Show. To achieve this, we must develop strategies and innovations to address current and anticipated challenges while seizing opportunities. For Mopani, old infrastructure is… Read More Here

Mining in Zambia Artisanal mining Copper

Zambia’s Mines Minister Warns Mining Licence Holders Against Illegal Mining

August 11, 2024August 11, 2024 Constance

Mines and Minerals Development Minister Paul Kabuswe has emphasized that the responsibility to curb illegal mining lies with licence holders, not the government. He warned that licence holders allowing illegal activities on their tenements risk losing their licences. In a media briefing last week, Kabuswe clarified that according to the Mines and Minerals Act, it is the duty of licence holders to ensure security on their tenements. He specifically addressed concerns about illegal mining at Sensele Mine, stating that the government does not own the mine, and the responsibility for… Read More Here

Mining in DRC Oil & Gas Petroleum

President Tshisekedi Urges Fuel Price Reduction Amid Rising Costs

August 11, 2024August 11, 2024 Constance

During the eighth meeting of the Council of Ministers, President Félix Tshisekedi called for urgent measures to lower fuel prices in the Democratic Republic of Congo (DRC). He highlighted potential opportunities within the current petroleum pricing structure that could lead to reduced costs at the pump for consumers. President Tshisekedi emphasized the need to reassess the average border price (PMF), logistics and operational costs, and various taxation elements. He instructed the Vice Prime Minister, the Minister of National Economy, the Minister of Hydrocarbons, and the Minister of Finance to evaluate… Read More Here

Mining in Zambia Economy

Zambia’s Finance Minister Urges Private Sector to Boost Growth and Productivity

August 11, 2024August 11, 2024 Constance

Zambia’s Finance and National Planning Minister, Dr. Situmbeko Musokotwane, has urged the private sector to maintain its growth momentum and enhance productivity across all sectors. In meetings with representatives from various commercial banks, Dr. Musokotwane expressed optimism that the country’s current challenges, including the energy deficit and food security issues worsened by drought, will significantly improve by next year. The Minister stressed the need for continued investment in the energy sector to support the government’s efforts to diversify energy sources. He emphasized the role of public-private partnerships (PPPs) in driving… Read More Here