Constance - Copperbelt Katanga Mining

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Workers at Mutanda Mining Stage Strike for Improved Social Conditions

April 28, 2024April 28, 2024 Constance

Employees of Mutanda Mining (MUMI), a subsidiary of the Glencore group located in the Lualaba province, have taken a stand by initiating a strike on Tuesday, April 23, 2024. Their primary demand from the employer is for enhanced social benefits. The striking workers are calling for a substantial increase in the employer’s contribution towards their children’s school fees. Currently, they receive a mere $300 per year, a sum deemed woefully inadequate by the strikers. They are now advocating for an annual contribution of $5,000 to ensure their children receive quality… Read More Here

Glencore Eyes Investment in Nigeria’s Mining Sector Amid Government Push for Growth

April 28, 2024April 28, 2024 Constance

Commodities giant Glencore (LON: GLEN) announced on Friday its interest in investing in Nigeria’s mining sector, contingent upon the government ensuring a stable business environment. CEO Gary Nagle, who held discussions with Nigeria’s Minister for Solid Minerals, Dele Alake, expressed particular interest in nickel, cobalt, zinc, and other metals. The timing of this visit aligns with Nigeria’s efforts to attract foreign investors to its underdeveloped mining sector. Alake emphasized the federal government’s commitment to attracting major international companies to drive the growth of the mining sector, drawing parallels with its… Read More Here

International

BHP Group Mulls Enhanced Offer for Anglo American After Initial Bid Rejection

April 28, 2024April 28, 2024 Constance

BHP Group is contemplating an improved proposal for Anglo American after its initial $39 billion bid was turned down by the London-listed mining company, according to a source familiar with the situation briefed Reuters. Discussions are underway within BHP regarding a revised bid for Anglo American, which is expected to be presented in the coming weeks, the source disclosed. However, the specifics of the new proposal, including its size and structure, are still being deliberated, the source added. BHP declined to comment on what it termed as “rumor and speculation,”… Read More Here

International Diamond

𝗗𝗘 𝗕𝗘𝗘𝗥𝗦 𝗚𝗥𝗢𝗨𝗣 𝗧𝗢 𝗥𝗘𝗟𝗢𝗖𝗔𝗧𝗘 𝗔𝗨𝗖𝗧𝗜𝗢𝗡𝗦 𝗛𝗘𝗔𝗗𝗤𝗨𝗔𝗥𝗧𝗘𝗥𝗦 𝗙𝗥𝗢𝗠 𝗦𝗜𝗡𝗚𝗔𝗣𝗢𝗥𝗘 𝗧𝗢 𝗕𝗢𝗧𝗦𝗪𝗔𝗡𝗔

April 28, 2024April 28, 2024 Constance

De Beers Group last week announced it is relocating the De Beers Group Auctions business headquarters from Singapore to Botswana. The relocation supports De Beers’ focus on streamlining its operations and enhancing the efficiency of its activities, while also facilitating further development of the diamond sector in Botswana. De Beers Group’s decision to relocate its Auctions headquarters to Gaborone reinforces its commitment to developing Botswana’s diamond industry. It also reflects confidence in the country’s capabilities and growth agenda. De Beers Global Sightholder Sales moved from the United Kingdom to Botswana… Read More Here

Mining in Zambia Mine Safety Mining safety Safety & Health

FQM Prioritises Safety and Health on International Safety Day

April 28, 2024April 28, 2024 Constance

First Quantum Minerals, through its subsidiary FQM Trident Limited, joined forces with Prudential Pensions Management Zambia to celebrate the 2024 World Day for Safety and Health at Work, focusing on the impact of climate change on occupational health and safety. The event, which was held at FQM Trident, focused on raising awareness about the potential risks associated with climate change, such as extreme weather events, heat stress, and vector-borne diseases. The event included interactive activities such as quizzes and giveaways to engage employees and promote awareness about climate change and… Read More Here

Mining in Zambia Copper

Swedish Delegation Explores Zambia’s Mining Sector & Green Transition at Kansanshi Mine

April 28, 2024April 28, 2024 Constance

A Swedish delegation, led by Sweden’s Ambassador to Zambia, Johan Hallenborg, toured First Quantum Minerals’ subsidiary, Kansanshi Mining Plc, to gain insights into Zambia’s mining sector and the ongoing green transition efforts. With a keen interest in understanding both the challenges and opportunities within Zambia’s mining industry, the Swedish delegation engaged in a series of discussions and briefings during their visit. The primary focus was on sustainability practices and environmental stewardship initiatives being implemented by Kansanshi Mine. Kansanshi Mine Assistant General Manager Axel Kottgen led the delegation through a detailed… Read More Here

Mining in DRC Economy

DRC Hydrocarbons Minister Addresses SEP Financial Challenges

April 28, 2024April 28, 2024 Constance

Didier Budimbu, the Minister of Hydrocarbons in the Democratic Republic of Congo (DRC), discussed the recent developments surrounding the Société des Pétroles (SEP) in an interview with Radio Okapi. He shed light on the company’s decision to scale back operations due to financial constraints, primarily stemming from delayed payments by the government. Minister Budimbu reassured the public that steps were being taken to address the financial issues facing SEP and other oil companies. He mentioned progress made in settling a portion of the debt owed to these companies, with SEP… Read More Here

International Economy

Kenyan President Hails Zimbabwe’s Gold-Backed Currency as Economic Boon

April 28, 2024April 28, 2024 Constance

Kenyan President William Ruto recently commended Zimbabwe’s new gold-backed currency, ZiG, expressing optimism about its potential to drive economic recovery in the southern African nation. During his address at an international trade fair in Bulawayo, Ruto lauded the introduction of ZiG as a bold move by the Zimbabwean government to rejuvenate the economy amid numerous challenges and pressures, as reported by Bloomberg. Ruto emphasized the significant impact of Zimbabwe’s vast reserves of copper, lithium, gold, platinum, silver, and other precious metals on the nation’s wealth. He highlighted the importance of… Read More Here

International Gold

Uganda’s Gold Exports Surge, Overcoming Tax Disputes

April 28, 2024April 28, 2024 Constance

Uganda’s Ministry of Finance recently revealed that gold has reclaimed its position as the country’s primary export. Over the past 12 months leading up to February, the gold trade contributed to 37% of Uganda’s total export revenues. This resurgence follows a period of disruption caused by tax disputes, which reportedly cost Uganda Ush600 billion ($160.77 million). Initially, tax issues had significantly hindered Uganda’s gold trade, which accounts for a substantial 44% of the nation’s export income, as reported by the Bank of Uganda. However, after nearly a year of interruption… Read More Here

International Gold

Invictus Energy Signs MoU to Power Zimbabwe’s Eureka Gold Mine

April 26, 2024April 26, 2024 Constance

Independent upstream oil and gas company Invictus Energy signed a Memorandum of Understanding (MoU) with energy firm Himoinsa Southern Africa Proprietary Limited and mining company Dallaglio Investments Pvt Ltd. for the development of a gas-to-power project to supply electricity to Eureka Gold Mine in Zimbabwe. Invictus Energy will provide feedstock from its Cabora Bassa Project to fuel the proposed 12MW gas-to-power plant, which will be constructed by Himoinsa. Electricity generated from the plant will be transmitted via the national grid to power operations at Dallaglio Investments’ Eureka Mine, located 50km away… Read More Here