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𝗕𝗛𝗣, 𝗧𝗛𝗘 𝗪𝗢𝗥𝗟𝗗 '𝗦 𝗕𝗜𝗚𝗚𝗘𝗦𝗧 𝗠𝗜𝗡𝗜𝗡𝗚 𝗖𝗢𝗠𝗣𝗔𝗡𝗬 𝗪𝗔𝗡𝗧𝗦 𝗧𝗢 𝗕𝗨𝗬 𝗔𝗡𝗚𝗟𝗢 𝗔𝗠𝗘𝗥𝗜𝗖𝗔𝗡 1 International 

𝗕𝗛𝗣, 𝗧𝗛𝗘 𝗪𝗢𝗥𝗟𝗗 ‘𝗦 𝗕𝗜𝗚𝗚𝗘𝗦𝗧 𝗠𝗜𝗡𝗜𝗡𝗚 𝗖𝗢𝗠𝗣𝗔𝗡𝗬 𝗪𝗔𝗡𝗧𝗦 𝗧𝗢 𝗕𝗨𝗬 𝗔𝗡𝗚𝗟𝗢 𝗔𝗠𝗘𝗥𝗜𝗖𝗔𝗡

Constance
BHP Group Limited , the biggest mining company in the world by market capitalization ,has made a move to acquire Anglo American, De Beers parent company. Anglo American,a diversified mining and metals giant owns 85 percent of De Beers Group, while 15 percent is owned by Government of Botswana. In a statement today Anglo American , headquartered in the United Kingdom ,confirmed that it is has received an unsolicited, non-binding and highly conditional combination proposal from BHP Group Limited (BHP). The proposal comprises an all-share offer for Anglo American by… Read More Here
Anglo American confirms non-binding offer from BHP 2 International 

Anglo American confirms non-binding offer from BHP

Constance
Anglo American Plc said it is has received an unsolicited non-binding combination proposal from BHP Group. The company issued a statement after Bloomberg reported that BHP, the world’s biggest miner, was considering a potential takeover offer for Anglo. The proposal comprises an all-share offer for Anglo American by BHP and would be preceded by separate demergers by Anglo American of its entire shareholdings in Anglo American Platinum Ltd. and Kumba Iron Ore Ltd. to Anglo American shareholders, Anglo said. SOURCE:mining.com Read More Here
Eurasian Resources Group Denies Accusations of Subcontracting Fraud in the DRC 3 Mining in DRC Cobalt 

Eurasian Resources Group Denies Accusations of Subcontracting Fraud in the DRC

Constance
Eurasian Resources Group (ERG) has refuted allegations of attempting to circumvent subcontracting laws in the Democratic Republic of Congo (DRC), aimed at promoting local ownership in the mining sector and fostering economic benefits. In response to Congo government’s accusations of presenting nine subcontracting companies as majority partners with fictitious shares to evade the requirement of Congolese shareholders owning 50% of subcontracting shares, ERG issued a statement denying any involvement in illicit activities. The Regulatory Authority for Subcontracting in the Private Sector revealed that over $535 million in sales had been… Read More Here
Africa’s lithium supply to almost triple this year – Benchmark Mineral Intelligence 4 Lithium Battery Metals International 

Africa’s lithium supply to almost triple this year – Benchmark Mineral Intelligence

Constance
Lithium production from Africa is projected to almost triple in 2024 compared to the previous year, according to Benchmark Mineral Intelligence. Chinese companies hold a virtual monopoly on lithium extraction in Africa, with over 90% of the continent’s projected lithium supply for this decade stemming from projects partly owned by Chinese entities, as estimated by Benchmark. Most of the increased supply is expected to come from Zimbabwe. It is estimated that the country produced 3,400 tonnes in 2023, placing it among the seven largest producers globally. The country is home… Read More Here
Gemfields Introduces 'G-Factor for Natural Resources' to Enhance Transparency 5 Mining in Zambia Gemstones 

Gemfields Introduces ‘G-Factor for Natural Resources’ to Enhance Transparency

Constance
London-listed Gemfields has unveiled updated figures for its ‘G-Factor for Natural Resources’, designed to promote transparency in revenue sharing with host countries’ governments. The measure, introduced in July 2021, aims to provide a clear indicator of the percentage of revenue allocated to host governments in primary and direct taxes across various sectors, including mining, oil, gas, timber, and fishing. Gemfields’ recent report on the G-Factor computations for its key mining subsidiaries, the Kagem emerald mine in Zambia and the Montepuez ruby mine in Mozambique, reveals scores of 31% and 35%… Read More Here
China's Coal Consumption Expected to Drop by One-Third by 2040 6 International Coal 

China’s Coal Consumption Expected to Drop by One-Third by 2040

Constance
A recent report by European consultancy DNV has projected that China’s coal consumption will decrease by approximately one-third by 2040, posing a challenge to global climate targets aiming to phase out coal use by the same year. While the International Energy Agency emphasizes the necessity of eliminating global coal power capacity by 2040 to curb temperature rises within the 1.5-degree Celsius threshold, DNV’s findings diverge, indicating a minor increase in China’s coal consumption over the next two years followed by a gradual decline. Despite a significant surge in renewable energy… Read More Here
FQM cuts debt by over $1bn in first quarter 7 International Copper 

FQM cuts debt by over $1bn in first quarter

Constance
Canadian miner First Quantum Minerals said on Tuesday that it has cut its debt by $1.14 billion in the first quarter. The company in February had announced a series of capital restructuring measures that would strengthen its balance sheet and cut debt, a move that will help the Canadian miner deliver on its “operational objectives.” The company’s total debt as of March 31 stands at $5.99 billion, down from its previous debt of $7.38 billion. The copper miner reported a net loss attributable to shareholders of the company at $159… Read More Here
FQM says probability of taking out copper from Panama mine only after election 8 International Copper News in Brief 

FQM says probability of taking out copper from Panama mine only after election

Constance
Canadian miner First Quantum Minerals said on Wednesday the likelihood of taking out the 121,000 tonnes of copper from its disputed Cobre Panama mine can only happen after the Panama national election. First Quantum’s Cobre Panama is under preservation and safe maintenance after the current Panama government ordered the closure of the copper mine last year. Panama goes to polls in May this year. SOURCE:mining.com Read More Here
Zambia's Zesco Seeks Power Imports to Mitigate Energy Deficit 9 Mining in Zambia Electricity Energy 

Zambia’s Zesco Seeks Power Imports to Mitigate Energy Deficit

Constance
Zambia’s state-owned electricity utility, Zesco, announced plans on Monday to import power in order to address an impending energy shortfall that threatens production in the nation, known as Africa’s second-largest copper producer. With 86% of its electricity sourced from hydropower stations, Zambia faces challenges due to a severe drought caused by El Nino, a weather phenomenon marked by abnormal warming of the waters in the eastern Pacific, resulting in global temperature fluctuations. Zesco anticipates a power generation deficit of 700 megawatts this year, prompting negotiations for additional electricity imports. These… Read More Here
Sibanye-Stillwater targets $500m in gold streaming deals 10 International Gold 

Sibanye-Stillwater targets $500m in gold streaming deals

Constance
SIBANYE-Stillwater aimed to conclude a portion of an estimated $500m to $1bn in potential streaming or metals prepayment deals before it announced its half year results in August, said the group’s CEO Neal Froneman. “We don’t get any credit for our gold by-product from platinum group metals (PGMs) and it’s a good time to be negotiating because the gold price isn’t done yet,” said Froneman on the sidelines of the PGM Day conference in Johannesburg. “The beauty of selling by-product credits is that it’s not described as debt,” he said.… Read More Here

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