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Anglo American freezes hiring amid global shake-up 1 International 

Anglo American freezes hiring amid global shake-up

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Anglo American (LON: AAL), the takeover target of mining giant BHP (ASX: BHP), has frozen hiring globally as it works on a company-wide restructuring announced earlier this week. The decision, first reported by Reuters, affects recruitment of all non-site-based permanent employees and contractors. “Having set out the results of our strategy review and the changes we will be making to our portfolio, this is an appropriate measure,” a spokesman told the news agency. “Clearly there will be exceptions for critical roles.” Anglo American to sell De Beers, Amplats to fend… Read More Here
Gemfields aids authorities in securing prison sentences for bribery totalling 5 years 9 months 2 Mining in Zambia Emeralds Press Release 

Gemfields aids authorities in securing prison sentences for bribery totalling 5 years 9 months

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The former chief of staff to Andry Rajoelina, the President of Madagascar, was jailed for three and a half years by a London court on Friday 10 May 2024 for soliciting a bribe from Gemfields, the 75% owner of Kagem Mining Ltd. The former chief of staff, Romy Andrianarisoa (47) and her French accomplice, Philippe Tabuteau (54) sought nearly USD 300,000 by wire transfer plus 5% of any Gemfields mining operation in Madagascar in return for assisting Gemfields in establishing a gemstone joint venture in the country. Tabuteau, who had… Read More Here
Barrick Advances Clean Energy Transition Across Global Operations 3 Gold 

Barrick Advances Clean Energy Transition Across Global Operations

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Barrick’s commitment to reducing greenhouse gas (GHG) emissions is gaining momentum as it reaches key milestones in its transition to clean energy. The commissioning of 50% of the TS Solar Power facility at Nevada Gold Mines (NGM) in April signifies a significant step forward in its greenhouse gas reduction roadmap. With an initial energy-producing capacity of 100 megawatts, the solar facility began supplying power to NGM’s operations in April. Upon completion of the second phase in the second quarter of 2024, adding another 100 megawatts, the solar array will meet… Read More Here
IMF Director Urges Europe to Pursue Bold Reforms for Sustainable Growth 4 International Economy 

IMF Director Urges Europe to Pursue Bold Reforms for Sustainable Growth

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In a recent seminar hosted by the European Central Bank (ECB), Alfred Kammer, Director of the International Monetary Fund’s European department, delivered a keynote speech outlining Europe’s path to enduring growth amidst global challenges. Mr. Kammer began by acknowledging Europe’s successful navigation through recent crises, including Russia’s invasion of Ukraine and energy shocks. Despite these hurdles, Europe’s recovery remains on track, buoyed by domestic demand and improving consumer sentiment. However, Mr. Kammer stressed the need for sustained efforts to lift Europe’s medium-term growth outlook, identifying low productivity as a critical… Read More Here
Rio Tinto CEO Jakob Stausholm Emphasizes Prudent Approach to Mergers and Acquisitions 5 International Mergers & Acquisitions 

Rio Tinto CEO Jakob Stausholm Emphasizes Prudent Approach to Mergers and Acquisitions

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Amidst ongoing discussions regarding mergers and acquisitions (M&A) in the mining sector, Rio Tinto CEO Jakob Stausholm has reiterated the company’s openness to such endeavors while emphasizing the importance of a cautious approach. Speaking at this week’s Bank of America global metals, mining, and steel conference in Miami, Stausholm made it clear that Rio Tinto is not averse to M&A activities. However, he emphasized that the company’s growth strategy is not solely reliant on such ventures. Stausholm highlighted the strength of Rio Tinto’s organic growth options and its improved project… Read More Here
Tertiary Minerals Receives Environmental Approval for Mupala Copper Project in Zambia 6 Mining in Zambia Copper Mining Projects New Mining Projects 

Tertiary Minerals Receives Environmental Approval for Mupala Copper Project in Zambia

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Tertiary Minerals, an AIM-listed mineral exploration and development company, has secured approval for the environmental project brief (EPB) for its Mupala Copper Project in Zambia. This milestone allows Tertiary Minerals to commence mineral exploration activities at the Mupala project, following the approval granted by the Zambia Environmental Management Agency. The approval comes after obtaining a letter of consent from the Sailunga Chiefdom earlier this year. Preparations are underway to kickstart work programs next month, which will include soil sampling to verify identified anomalies and assist with surface regolith mapping. Situated… Read More Here
Angola to Link National Rail Corridors -Transport Minister 7 International Transport and Logistics 

Angola to Link National Rail Corridors -Transport Minister

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Ricardo D’Abreu, Angola’s Minister of Transport, has reiterated the government’s commitment to connecting the country’s three main national rail corridors, signaling a significant step towards enhancing transportation infrastructure. These corridors encompass the Northern Corridor, spanning the provinces of Luanda, Cuanza-Norte, and Malange; the Central Corridor, famously known as the Lobito Corridor, traversing Benguela, Huambo, Bié, and Moxico provinces; and the Southern Corridor, stretching from Moçâmedes in Namibe to Menongue in Cuando Cubango. D’Abreu disclosed that the government is currently conducting a comprehensive study for the project, with the subsequent focus… Read More Here
Zambia's Cabinet Approves Beira Development Corridor Agreement 8 Mining in Zambia Transport and Logistics 

Zambia’s Cabinet Approves Beira Development Corridor Agreement

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The Zambian Cabinet, under the leadership of President Hakainde Hichilema, has given the green light to the Beira Development Corridor Agreement, a significant move poised to bolster regional trade and infrastructure development. This agreement involves Zambia, the Democratic Republic of Congo, Malawi, Mozambique, and Zimbabwe, aiming to establish a cooperative framework for the Beira Corridor, a pivotal trade route for landlocked nations in the area. Chairing the cabinet meeting, President Hichilema paved the way for this strategic decision. Frank Tayali, Minister of Transport and Logistics, expressed optimism regarding the agreement’s… Read More Here
Zambia's Mining Industry Faces Scrutiny Over Exclusion of Local Truck Drivers 9 Mining in Zambia Copper Transport and Logistics 

Zambia’s Mining Industry Faces Scrutiny Over Exclusion of Local Truck Drivers

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Zambia’s mining industry, a key driver of the nation’s economy, is facing scrutiny over the exclusion of Zambian truck drivers from import and export operations. The Parliamentary Committee on Transports, Works, and Supply has raised concerns about this issue, which came to light during a meeting between the committee, led by Chairperson Mubika Mubika of the Shang’ombo constituency, and the management of Mopani Copper Mines. The committee found that Zambian truck drivers were systematically overlooked for hauling goods and services, hindering local business opportunities and overall economic growth. In response,… Read More Here
US Official Accuses China’s CMOC of Predatory Pricing in Cobalt Market 10 Mining in DRC Battery Metals Cobalt 

US Official Accuses China’s CMOC of Predatory Pricing in Cobalt Market

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China’s CMOC Group Ltd. is being accused by a senior US official of employing “predatory” tactics to suppress cobalt prices by flooding the market with the metal sourced from the Democratic Republic of Congo mines. “What we’re seeing now, I feel, is a variation of predatory pricing,” said Jose Fernandez, Under Secretary for Economic Growth, Energy, and the Environment, during a Cobalt Institute conference in New York. His remarks highlight the US’s efforts to reduce China’s dominance in critical metals essential for the energy transition from fossil fuels. Cobalt, vital… Read More Here

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