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Vedanta Completes $245 Million Disbursement to Konkola Copper Mines 1 Mining in Zambia Copper 

Vedanta Completes $245 Million Disbursement to Konkola Copper Mines

Constance
Vedanta Resources Holdings Limited has successfully disbursed over $245 million from its escrow account to Konkola Copper Mines (KCM) bank accounts in Zambia. Masuzyo Ndhlovu, Vedanta’s Director of Corporate Communications, stated that the funding was sourced internally within the Vedanta group. He emphasized that the disbursement to creditors and employees is a crucial step in KCM’s transformational journey, showcasing Vedanta’s commitment to the mine’s resurgence and proposed growth trajectory. KCM Chief Operating Officer Malcolm Mewett added that the release of funds by Vedanta reaffirms the company’s dedication to Zambia and… Read More Here
Vedanta Resources Reinstates Board of Directors at Konkola Copper Mines 2 Mining in Zambia Copper 

Vedanta Resources Reinstates Board of Directors at Konkola Copper Mines

Constance
Vedanta Resources Holdings Limited has reinstated the Board of Directors for Konkola Copper Mines (KCM), marking the return of full management control to Vedanta. This step is essential for ramping up production and unlocking KCM’s full potential. Chris Griffith, Chief Executive Officer of Vedanta Base Metals, expressed confidence in the newly reinstated board, stating that it consists of a team of highly skilled and experienced professionals. He believes the board will provide strong leadership and guidance to help drive the company’s success, aligning with the Zambian government’s vision of positioning… Read More Here
DRC Minister of Mines Embarks on Transformative Mission to Haut-Uélé and North Kivu 3 Mining in DRC 

DRC Minister of Mines Embarks on Transformative Mission to Haut-Uélé and North Kivu

Constance
The new Minister of Mines, Kizito Pakabomba, began his first official mission to the provinces on July 29, 2024, aiming to understand the realities of his sector. From July 29 to August 1, he will visit Haut-Uélé and North Kivu. This mission aligns with President Félix-Antoine Tshisekedi’s vision for his second term, emphasizing six commitments to transform the mining sector into a lever for sustainable development. On July 29, Pakabomba arrived in Isiro, Haut-Uélé province, greeted by Vice-Governor Christophe Dara Matata, local political and administrative leaders, mining operators, and a… Read More Here
Illegal Mining Threatens Okapi Wildlife Reserve in Ituri 4 Mining in DRC 

Illegal Mining Threatens Okapi Wildlife Reserve in Ituri

Constance
In Ituri province, Democratic Republic of Congo (DRC), the Okapi Wildlife Reserve (RFO) faces illegal mining activities, according to whistleblowers who exposed this information on July 28. They claim that the Military Governor ordered a mission on July 23 to legalize mining in the reserve. The Governor’s Spokesperson clarified that the mission aimed only to verify the boundaries of the reserve, located in the Mambasa territory. “This mission is to demarcate the limits of the RFO because some are exploiting without knowing if they are within the RFO or a… Read More Here
Chinese Companies Defy Mining Suspension in South Kivu 5 Mining in DRC 

Chinese Companies Defy Mining Suspension in South Kivu

Constance
Despite the suspension of mining activities in South Kivu, Democratic Republic of Congo (DRC), several Chinese companies continue illicit mineral exploitation in the Mwenga territory. The New Dynamics of Civil Society (NDSCI CHUNVI YA CONGO) has condemned this situation, highlighting the unacceptable plundering and export of natural resources by foreign entities. “Nearly ten days after the expiration of the 72-hour moratorium on leaving the sites, Governor Jean Jacques Purusi’s decision to suspend mining activities throughout South Kivu has been blatantly ignored by Chinese-owned companies, which continue illicit mineral exploitation in… Read More Here
DRC Ministry of Mines receives the seal of the Republic 6 Mining in DRC 

DRC Ministry of Mines receives the seal of the Republic

Constance
On Monday, July 29, 2024, Minister of Mines Kizito Pakomba received the new seal of the Republic in his office. This initiative, launched by the Deputy Minister of Justice and Keeper of the Seals, aims to combat the counterfeiting and falsification of official documents, ensuring their authenticity. The adoption of this new seal is a response to the increasing misuse of New Information and Communication Technologies (NICT), which has led to numerous cases of identity theft and document falsification. By implementing this measure, the ministry seeks to uphold the integrity… Read More Here
BHP and Lundin Mining Partner to Expand Copper Portfolio with Joint Acquisition 7 Mergers & Acquisitions Copper International 

BHP and Lundin Mining Partner to Expand Copper Portfolio with Joint Acquisition

Constance
Diversified miner BHP, in collaboration with Lundin Mining, has announced a strategic move to enhance its copper portfolio by jointly acquiring an advanced-stage copper exploration project in South America. This partnership will see the creation of a joint venture (JV) to develop a burgeoning copper district in the Vicuna belt, spanning Argentina and Chile. Copper, a vital component in the energy transition, remains highly sought after by miners. BHP’s recent unsuccessful bid to acquire Anglo American underscored its strategic objective to increase its copper holdings. Under the new agreement, BHP… Read More Here
Anglo American Faces Interim Loss Amid Woodsmith Project Write-Down 8 International 

Anglo American Faces Interim Loss Amid Woodsmith Project Write-Down

Constance
Anglo American reported an interim loss of 55 US cents per share on Thursday, following a $1.6 billion write-down of its investment in the Woodsmith fertilizer minerals project. Basic underlying earnings fell to $1.06 per share, marking a 23% year-on-year decline due to a 10% drop in the basket price for metals mined by Anglo, particularly platinum group metals (PGMs) and iron ore. The write-down occurred as Anglo decided to delay the Woodsmith project amid a restructuring of the group, announced in May shortly after BHP’s £38 billion all-share takeover… Read More Here
Nchanga KCM Open Pit Mining in Zambia Copper 

Konkola Copper Mines Begins Paying Creditors

Constance
Beginning with the municipal and city councils in the Copperbelt, Konkola Copper Mines (KCM) has started to pay its creditors following the company’s successful avoidance of liquidation by Vedanta Resources. On July 26, a High Court Judge issued an ex parte order to halt the winding-up petition against KCM and reinstated the Board of Directors. To date, Chingola Municipal Council has received over K26 million, Chililabombwe has received K8 million, and Kitwe City Council has received K14 million. KCM’s Chief Financial Officer, Manish Saxena, expressed gratitude to the creditors for… Read More Here
Mobilisation of Diamond Core Drill Rigs to the Bisie North Projects 9 Mining in DRC Diamond Drilling 

Mobilisation of Diamond Core Drill Rigs to the Bisie North Projects

Constance
Rome Resources Plc (AIM: RMR) provides an update on drilling operations at the Company’s flagship project located in the North Kivu province in the Democratic Republic of Congo which comprises the Kalayi prospect, the Mont Agoma prospect and the Mont Agoma Northwest prospect (together the “Bisie North Projects”) The Company is pleased to announce that it has commenced the mobilisation of the first of three diamond core drill rigs to be used in the first week of August 2024 at sites identified and prepared by the Company at the Bisie… Read More Here

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