Constance - Copperbelt Katanga Mining

Written by Constance

Report: Africa can Boost Critical Minerals Supply Chains Through Strategic Investments and Technology

July 20, 2024July 20, 2024 Constance

African countries have the potential to enhance their position in the global critical minerals supply chain by leveraging technology for exploration, fostering attractive investment environments, and diversifying their international partnerships. This is the key finding of a report published on July 1, 2024, by the American think tank Atlantic Council. Titled “From Greenfield Projects to Green Supply Chains: Critical Minerals in Africa as an Investment Challenge,” the report highlights Africa’s central role in the global energy transition due to its vast mineral resources crucial for a low-carbon economy. The continent… Read More Here

Mining in DRC

DRC Chamber of Mines Honors Former President Louis Watum at Kinshasa Gala

July 20, 2024July 20, 2024 Constance

On Wednesday, July 17, 2024, the Chamber of Mines of the Democratic Republic of Congo held a special dinner at the Hilton Hotel in Kinshasa to honor Louis Watum, its former President and newly appointed Minister of Industry in the Suminwa Government. John Nkono, Secretary General of the Congolese Business Federation (FEC), spoke on behalf of the FEC President, conveying congratulations to Watum. Nkono recalled that just a week prior, FEC executives had celebrated Watum and his two colleagues appointed in the new government. “The President advised them to remember… Read More Here

Mining in Zambia Infrastructural Development

Zambia’s National Pension Scheme Authority Announces $200 Million Investment for Maamba Collieries Expansion

July 20, 2024July 21, 2024 Constance

The National Pension Scheme Authority (NAPSA) has announced a significant investment of up to $200 million in debt to support the phase two expansion project of Maamba Collieries Ltd. This investment was revealed during a press briefing on July 16 by NAPSA Chairperson Shipango Muteto. Muteto emphasized that the expansion project represents a promising diversification within the authority’s energy sector investment portfolio. The Maamba Collieries expansion is expected to generate 1,200 jobs during the construction phase and 400 additional jobs once operational. This initiative marks NAPSA’s second major investment of… Read More Here

International Uranium

Turkey Seeks Access to Niger’s Uranium Deposits Amidst Shifts in Mining Rights

July 20, 2024July 20, 2024 Constance

On Wednesday, Turkey’s foreign, defense, and energy ministers visited Niger to negotiate access to the country’s substantial uranium reserves. This move comes in the wake of Niger’s recent revocation of mining rights held by Canadian and French companies, following the military coup that took control of the West African nation in July 2023. The Turkish delegation, led by Foreign Minister Hakan Fidan and accompanied by top intelligence official Ibrahim Kalin, aims to tap into Niger’s uranium resources to support Turkey’s expanding nuclear power sector. This interest is particularly relevant as… Read More Here

Mining in Zambia Copper Economy Electricity

Zambia Urges Mining Companies to Double Power-Saving Efforts Amid Severe Drought

July 20, 2024July 20, 2024 Constance

Zambia has requested mining companies, operating in Africa’s second-largest copper producer, to double their power-saving measures to 40% of their normal demand due to the worst drought in decades impacting hydroelectric power generation. Zesco Ltd., the state-owned power utility, has asked operators to either increase their power curtailments or source emergency power independently starting this month. First Quantum Minerals Ltd., which is responsible for over half of Zambia’s copper output, confirmed this request. Zesco did not respond to a request for comment. First Quantum has managed to cover more than… Read More Here

International Copper

Panama vows to talk to FQM in coming months on shuttered mine

July 20, 2024July 20, 2024 Constance

Panama’s government says it will engage with First Quantum Minerals Ltd. in the coming months to discuss the environmental impact of its shuttered copper mine. Panama’s new president, who took office earlier this month, has said that the mine may need to be temporarily reopened in order to responsibly prepare for a permanent closure. The Central American government is focusing on more pressing priorities for now, but will have discussions with First Quantum in due course, Foreign Affairs Minister Javier Martinez-Acha Vasquez said Wednesday. “From the environmental standpoint, it has… Read More Here

International Diamond

Anglo American Contemplates Further Diamond Production Cuts Amid Market Challenges

July 20, 2024July 20, 2024 Constance

Anglo American (LON: AAL) announced last week that it is considering additional cuts to diamond production due to ongoing market challenges, complicating its plans to sell its De Beers unit as part of a significant business overhaul. The restructuring plan was announced in May following the successful rebuttal of a $49 billion takeover approach from BHP (ASX: BHP), the world’s largest miner. The plan includes the sale or divestment of its 85% stake in De Beers, the world’s largest diamond producer by value, to focus on copper, iron ore, and… Read More Here

Mining in Zambia Cobalt Copper Economy

Vedanta Holdings Deposits $245.75 Million for Full Control of Konkola Copper Mines

July 20, 2024July 20, 2024 Constance

Friday, 19th July 2024, Lusaka, Zambia – Vedanta Resources Holdings Limited (“VRHL” or “Vedanta Holdings” or “Vedanta”) yesterday confirmed the deposit of USD 245.75 million into an escrow account designated by the Hon. High Court of Zambia. This critical financial move paves the way for the imminent reinstatement of the Board of the Konkola Copper Mines (KCM) and the return of full management control to Vedanta. This transition will enable Vedanta to take the necessary steps to allow KCM to operate at its full potential, thereby contributing significantly to Zambia’s… Read More Here

International Gold Press Release

Higher Q2 Production Puts Barrick On Track to Deliver 2024 Targets

July 18, 2024July 18, 2024 Constance

Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) (“Barrick” or the “Company”) has reported preliminary Q2 production of 948 thousand ounces of gold and 43 thousand tonnes of copper, as well as preliminary Q2 sales of 956 thousand ounces of gold and 42 thousand tonnes of copper. As previously guided, Barrick’s gold and copper production in 2024 is expected to progressively increase each quarter through the year with a higher weighting in the second half. The Company remains on track to achieve our full year gold and copper guidance. The average market price for… Read More Here

International Gold

Barrick Offers to Engage with Ekō

July 18, 2024July 18, 2024 Constance

Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) (“Barrick” or the “Company”) has extended an invitation to representatives of Ekō to engage in discussions and visit specific mine sites referenced in their recent allegations concerning Barrick’s portfolio. The Company aims to facilitate a direct dialogue with Ekō to comprehensively understand the basis of their concerns. Barrick intends for these site visits to provide Ekō with firsthand access to factual data and ground realities. Through this initiative, Barrick seeks to correct what it perceives as misinformed and inaccurate statements about its operations. During the visits,… Read More Here