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Suitors Eye Stake in FQMs' Zambian Copper Mines 1 Mining in Zambia Copper 

Suitors Eye Stake in FQMs’ Zambian Copper Mines

Constance
Rio Tinto Group and Saudi Arabia’s Manara Minerals Investment Co., alongside Mitsui & Co. and Sumitomo Corp., are reportedly considering bids for a stake in First Quantum Minerals Ltd.’s Zambian copper mines, according to sources familiar with the matter. First Quantum, open to selling up to 30% of its Zambian assets, including the Sentinel and Kansanshi mines, has attracted interest from potential buyers such as Zijin Mining Group Co. and Jiangxi Copper Co. Shares of First Quantum surged in response to the news. With Zambia contributing significantly to First Quantum’s… Read More Here
Panama election unlikely to shift outlook for FQM's copper mine 2 International Copper 

Panama election unlikely to shift outlook for FQM’s copper mine

Constance
Prospects are poor for First Quantum Minerals to recover its canceled concession for a lucrative copper mine after presidential elections in May, a Reuters review of the campaigns’ proposals and interviews with protest leaders show. Protests against First Quantum’s concession demanding greater environmental guarantees and transparency in negotiations made authorities not only annul its contract to operate one of the world’s largest and newest copper mines but ban all new metal mining permits last year. Metal traders and investors are closely watching the election outcome to see if a new… Read More Here
Saudi Arabia nears $1bn deal for stake in Barrick’s Reko Diq 3 International Gold 

Saudi Arabia nears $1bn deal for stake in Barrick’s Reko Diq

Constance
Saudi Arabia is said to be close to reaching a deal to acquire a minority stake in Pakistan’s $7 billion Reko Diq copper and gold mine, controlled by Barrick Gold (TSX:ABX)(NYSE:GOLD). According to Bloomberg, the kingdom’s investment fund Manara Minerals intends to invest close to $1 billion in the project and it may announce a preliminary agreement on the transaction terms within weeks. SIGN UP FOR THE COPPER DIGEST The Saudi company might gradually raise its stake in Reko Diq, in which the government of Pakistan has a 25% interest… Read More Here
Jubilee Metals Achieves Record Chrome Production 4 Copper 

Jubilee Metals Achieves Record Chrome Production

Constance
Jubilee Metals, listed on both the AIM and ASX, has achieved remarkable milestones in its South African chrome operations, marking record production levels for both the month of March and the quarter ending March 31, the third quarter of the company’s 2024 financial year. Chrome output totaled 408,710 tonnes for the quarter, up from 381,114 tonnes in the previous quarter, with a record monthly production of 145,102 tonnes in March alone. The company’s chrome concentrate production for the nine months ended March 31 saw a significant increase of 19.2% year-on-year,… Read More Here
World Bank and AfDB Collaborate to Electrify Africa 5 International Electricity 

World Bank and AfDB Collaborate to Electrify Africa

Constance
The World Bank and the African Development Bank (AfDB) have joined forces with the ambitious goal of providing electricity access to 300 million people in Africa by 2030. Currently, approximately 600 million individuals on the continent lack access to electricity, hindering economic growth and job creation. Under this partnership, the World Bank aims to connect 250 million people through distributed renewable energy systems or the distribution grid. This endeavor requires an estimated $30 billion in public sector funding and presents a significant $9 billion investment opportunity for the private sector.… Read More Here
Shanta Gold Reports Encouraging Exploration Results at West Kenya Project 6 International Exploration Gold 

Shanta Gold Reports Encouraging Exploration Results at West Kenya Project

Constance
Shanta Gold, a mining company, has unveiled promising findings from its latest exploration activities at the West Kenya project in Kenya. The company’s successful drilling efforts have led to the conversion of resources from the inferred to indicated category, indicating significant commercial potential. During the exploration period spanning from Q4 2023 to Q1 2024, Shanta Gold drilled a total of 2,911 meters across 24 holes at the Ramula deposit. This focused drilling campaign is expected to culminate in a mineral resource estimate by Q2 2024, demonstrating the project’s progress towards… Read More Here
UAE's IRH Targets Majority Stake in Vedanta's Zambian Copper Assets 7 Copper Mining in Zambia 

UAE’s IRH Targets Majority Stake in Vedanta’s Zambian Copper Assets

Constance
Abu Dhabi’s International Resources Holding (IRH), backed by the UAE’s prominent conglomerate, is aiming to secure a controlling interest in Vedanta Resources’ Zambian copper assets, signaling a strategic move to strengthen its position in Africa’s copper mining sector. Sources familiar with the matter revealed to Reuters that IRH, a subsidiary of International Holding Company, has proposed a deal surpassing $1 billion to acquire a 51% stake in Konkola Copper Mines plc (KCM), currently owned by Vedanta. IRH’s ambitious bid follows its recent acquisition of a majority share in Mopani Copper… Read More Here
South Africa's Mining Sector Records Strong Rebound in February 8 International Economy 

South Africa’s Mining Sector Records Strong Rebound in February

Constance
South Africa’s mining industry has shown robust growth in February, bouncing back from a challenging start to the year, according to the latest data released by Statistics SA. The Bureau for Economic Research’s (BER) Weekly Review highlighted that mining activity exceeded expectations, with production surging by 9.9% year-on-year (y-o-y). This represents the most significant growth in mining output since mid-2021, surpassing market forecasts of a 3.5% y-o-y expansion. Iron ore production led the way, increasing by 42.9% y-o-y and contributing 5.1 percentage points to the overall growth. Coal production also… Read More Here
Confronting the China Challenge in Africa: The Lobito Corridor 9 Transport and Logistics Angola Mining in DRC Mining in Zambia 

Confronting the China Challenge in Africa: The Lobito Corridor

Constance
The Lobito Corridor project in Africa is a significant infrastructure initiative aimed at creating a vital trade route. It seeks to connect the mineral-rich Democratic Republic of the Congo (“DRC”) and Zambia to Angola’s Atlantic coast port city of Lobito. This project holds particular interest for some Western nations, potentially serving as a counterpoint to China’s expansive Belt and Road Initiative (“BRI”). China remains a dominant economic force in Africa, having invested $1.8 billion in the first half of 2023 alone, marking a year-on-year increase of 4.4 percent. Chinese investments… Read More Here
South Africa’s President Concludes Visit to South Sudan 10 International Governance 

South Africa’s President Concludes Visit to South Sudan

Constance
South Africa’s President Cyril Ramaphosa has concluded his working visit to South Sudan to strengthen bilateral relations. During the working visit – which took place from 16-18 April –, President Ramaphosa received an update from his South Sudanese counterpart President Salva Kiir Mayardit on the implementation of the Revitalized Agreement on the Resolution of Conflict in the Republic of South Sudan (R-ARCSS), which was signed in September 2018. “We are encouraged by the progress achieved thus far. The ceasefire agreement is holding and threats to the country’s peace and stability have been… Read More Here

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