Constance - Copperbelt Katanga Mining

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Zambia Seeks Collaboration with India to Tackle Climate Change

April 13, 2024April 13, 2024 Constance

The Minister of Green Economy and Environment, Hon. Eng. Collins Nzovu MP, has expressed Zambia’s keen interest in learning from India’s experiences and collaborating on climate change mitigation efforts. In a meeting with India’s High Commissioner to Zambia, His Excellency Mr. Ashok Kumar, Minister Nzovu highlighted the significant contributions of Zambia’s vibrant Indian community to the country’s economy, holding key positions across various sectors. He also noted India’s substantial investments in Zambia, particularly in the mining sector, which exceed US$5 billion, with notable ventures such as Vedanta Resources in Konkola… Read More Here

Gold International

Fortuna Silver Mines produces 1,750 kg of gold in Q1-2024

April 12, 2024April 12, 2024 Constance

Fortuna Silver, a Canadian mining powerhouse, is reshaping the mining landscape in West Africa with its Séguéla and Yaramoko gold mines in Ivory Coast and Burkina Faso, respectively. Together, these mines produced 61,733 ounces (1750 kg) of gold in the first quarter of the current year, marking a significant 49% increase from the previous year. In Ivory Coast, Fortuna Silver owns 90% of the Séguéla gold mine, with the Ivorian Government holding the remaining 10%. This ownership structure has enabled the company to generate robust cash flow and intensify its… Read More Here

Mining in Zambia Copper

KoBold Metals Gets Greenlight for Konkola West Copper Project

April 12, 2024April 12, 2024 Constance

Mineral exploration startup KoBold Metals Company will commence drilling activities at the Konkola West Copper Project in Zambia this month. The company will assess deep copper mineralization within the main ore shale, which also hosts large-scale deposits and mining projects including the Konkola and Mingomba Mines. “The first drill site has been selected, the drill contract has been let, drill site preparation has been completed and equipment mobilisation is in progress,” stated Patrick Cheetham, Executive Chairman of Tertiary Minerals, a subsidiary of KoBold in Zambia. The announcement follows Kobold securing… Read More Here

Mining in DRC Events & Expos Sponsored Content

Vuka Group: First DRC female prime minister“momentous occasion for DRC’s coming-of-age journey”

April 9, 2024April 9, 2024 Constance

“This is such great news, how wonderful for the new Prime Minister, H.E. Judith Tuluka, and the DRC! May it inspire many young Congolese women and girls to reach for a stars and becoming mining engineers, geologists or any exciting career that the mining industry offers.’ This is the reaction to the recent appointment of DRC’s former Planning Minister, H.E. Madam Judith Tuluka Suminwa, as the country’s new Prime Minister by Samukelo Madlabane, Event Director – Mining at the Vuka Group, organisers of the annual, long-running flagship conference and expo,… Read More Here

International Economy

Zimbabwe’s ZiG Currency Trading Commences Amid Lingering Uncertainty

April 9, 2024April 9, 2024 Constance

Zimbabwe’s latest attempt to stabilize its economy began on Monday with the introduction of the new gold-backed currency, ZiG, amidst skepticism and economic challenges. The Reserve Bank of Zimbabwe unveiled ZiG as a replacement for the struggling Real Time Gross Settlement Dollar (RTGS), which had experienced significant devaluation, trading at 28,720 to $1 before the transition. Bank balances were automatically converted into ZiG currency over the weekend, with customers given a 21-day window to complete the process. The new ZiG banknotes, available in denominations ranging from 1 to 200, are… Read More Here

International Mining Personality

Sibanye-Stillwater Appoints Philippe Boisseau as Independent Non-Executive Director

April 9, 2024April 9, 2024 Constance

Sibanye-Stillwater, a leading precious metals miner listed on the JSE and NYSE, has welcomed Philippe Boisseau as its newest independent non-executive director, effective April 8. Boisseau brings over 25 years of executive leadership experience to the board, notably serving as CEO of Spanish energy firm Compañía Española de Petróleos for three years. With a background of two decades at TotalEnergies, he has held key roles in refining, upstream operations, and Middle East business management. In his new role, Boisseau will contribute his expertise to various committees, including audit and risk,… Read More Here

Mining in DRC Copper

ARSP and CMOC Forge Agreement to Boost Congolese Participation in Tenke Fungurume Mining Value Chain

April 9, 2024April 9, 2024 Constance

The Congolese Regulatory Authority for Subcontracting in the Private Sector (ARSP) has announced a groundbreaking agreement with China’s CMOC Group, the majority shareholder of Tenke Fungurume Mining (TFM), to enhance Congolese involvement in the project’s value chain. Under the agreement, CMOC, holding an 80% stake in TFM, commits to ensuring that subcontractors involved in the project are at least 51% Congolese-owned, as mandated by regulations. In its facilitative role, ARSP is assisting CMOC by providing a curated list of recommended Congolese businesses, such as Elephant Trade, Panaco, GHS, and Bofa,… Read More Here

International Gold

Mali expects 14% drop in industrial gold production

April 9, 2024April 9, 2024 Constance

Mali’s industrial gold output is expected to drop by about 14% this year to 53.7 metric tons, mines ministry data showed on Monday. The West African country, one of the continent’s top gold producers, is home to industrial mines operated by international companies including Barrick Gold, B2Gold Corp, Resolute Mining and Hummingbird Resources. Its industrial gold production stood at 66.5 metric tons last year, almost unchanged from 66.2 tons in 2022. The mines ministry did not provide reasons for this year’s lower forecast. The data showed Barrick Gold is the… Read More Here

Diamond International Mining Personality

Lucapa Diamond Company Appoints Stuart Brown as Chairman of the Board

April 9, 2024April 9, 2024 Constance

Lucapa Diamond Company has announced the appointment of industry veteran Stuart Brown as the new chairman of its board. Brown brings extensive experience from his tenure at prominent diamond-mining companies, including De Beers, Firestone Diamonds, and Mountain Province. With a career spanning two decades at De Beers, Brown served in key roles such as interim CEO and chief financial officer. Notably, during his leadership at Firestone Diamonds, he successfully raised $225 million for the development of the Liqhobong mine in Lesotho. Brown currently serves as a director of Ukrainian iron-ore… Read More Here

International Economy Gold

China’s central bank adds more gold to its reserves in March

April 9, 2024April 9, 2024 Constance

China’s central bank added 160,000 troy ounces of gold to its reserves in March, it said, in line with the market view that persistent official sector demand had supported gold’s recent rally. Spot gold jumped 9.3% in March, its strongest monthly performance since July 2020, despite a strong dollar and elevated US real interest rates. That rally has continued, with gold hitting successive record highs during the last seven sessions to touch $2,353.79 per ounce on Monday. “China has now been adding gold to its reserves for 17 consecutive months.… Read More Here