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Zambia Cancels Mining Rights Over Non-Compliance 1 Mining in Zambia 

Zambia Cancels Mining Rights Over Non-Compliance

Constance
In compliance with Section 72 of the Mines and Minerals Development Act No. 11 of 2015, the Mining Licensing Committee (MLC) has taken decisive action at its 78th meeting to cancel certain mining and non-mining rights. These cancellations stem from non-compliance with the conditions stipulated in the grant of these rights, as clearly outlined in default notices circulated on October 24, 2023. Despite receiving these notices, the affected parties failed to take adequate remedial measures to address the Committee’s concerns satisfactorily. The cancellation of these rights is in accordance with… Read More Here
Caledonia Mining Seeks Funding from African Banks for Zimbabwe Gold Mine 2 International Gold 

Caledonia Mining Seeks Funding from African Banks for Zimbabwe Gold Mine

Constance
Mark Learmonth, CEO of Caledonia Mining Corporation, revealed on Wednesday that African development banks are the prime candidates to finance the company’s proposed $250 million gold mine project in Zimbabwe. Caledonia, the owner of the Blanket gold mine in Zimbabwe, is in the process of updating a feasibility study in preparation for constructing a new mine at Bilboes. This new venture aims to yield a minimum of 170,000 ounces per year, potentially making it the largest gold mine in the country. Despite Zimbabwe’s abundance of mineral resources, including platinum group… Read More Here
Uganda Set to Inaugurate First Tin Refining Plant 3 Mining in Uganda Tin 

Uganda Set to Inaugurate First Tin Refining Plant

Constance
Uganda is poised to inaugurate its inaugural tin refining facility in the southwestern region next month, signaling a significant step towards expanding capacity and enhancing domestic value addition to its mineral resources, according to a senior official from the mining ministry. President Yoweri Museveni’s administration aims to capitalize on the advantages of exporting minerals to the East African nation, where several gold refineries are already operational. Recently, Chinese-backed Sunbird Resources secured a license to mine limestone for cement production, further highlighting Uganda’s commitment to maximizing its mineral resources. Irene Bateebe,… Read More Here
Glencore Considers Primary Listing Shift to New York 4 International 

Glencore Considers Primary Listing Shift to New York

Constance
Deutsche Bank analysts have forecasted that Glencore, a UK-based copper mining and trading company, may contemplate relocating its primary listing from London to New York, potentially marking one of the most notable departures from the UK exchange. According to Liam Fitzpatrick and his team, the consideration for Glencore’s primary listing shift arises from a perceived lack of shareholder support for its proposed plan to separate and list its coal business independently in New York. They highlighted that the US market demonstrates greater support for companies involved in fossil fuels compared… Read More Here
AfDB Urges Political Coordination for Inga 3 Dam Construction in the DRC 5 Mining in DRC 

AfDB Urges Political Coordination for Inga 3 Dam Construction in the DRC

Constance
The African Development Bank (AfDB) is calling for increased political coordination to kickstart the construction of the Inga 3 dam in the Democratic Republic of Congo (DRC), emphasized by AfDB Group President Dr. Akinwumi Adesina. The Inga 3 dam project holds the potential to supply power to between 12 to 15 central and southern African countries, offering a possible solution to South Africa’s energy deficit. Securing financing for this venture, including contributions from various banks such as the AfDB, has been under discussion. Adesina highlighted the significance of addressing South… Read More Here
DRC Halts ERG Subcontractors at Vital Cobalt Mines Amid Ownership Concerns 6 Mining in DRC Battery Metals Cobalt 

DRC Halts ERG Subcontractors at Vital Cobalt Mines Amid Ownership Concerns

Constance
The Democratic Republic of Congo (DRC) has suspended nine subcontracting companies operating at mines managed by Eurasian Resources Group (ERG), adding to the challenges faced by the cobalt and copper producer in the country. The government announced the ban on March 14, citing non-compliance with Congolese ownership requirements. Despite a meeting with ERG representatives last week, the regulator confirmed on Tuesday that the sanctions remain in place. Miguel Kashal Katemb, director general of the Regulatory Authority for Subcontracting in the Private Sector, emphasized the need for ERG to engage subcontractors… Read More Here
Nigeria to Prioritize Local Mineral Processing in New Mining License Guidelines 7 International 

Nigeria to Prioritize Local Mineral Processing in New Mining License Guidelines

Constance
Nigeria is set to implement new guidelines that will only grant mining licenses to companies with plans for local mineral processing, announced a government spokesperson on Thursday. This marks a departure from Nigeria’s longstanding policy of exporting raw materials, as African nations seek to maximize value from their mineral resources. To encourage investment, Nigeria will offer incentives to investors, including tax waivers for importing mining equipment, simplified procedures for securing electricity generation licenses, full repatriation of profits, and enhanced security measures, according to Segun Tomori, spokesperson for Nigeria’s Minister of… Read More Here
Zambia Association of Manufacturers Foresees Economic Recovery Post-Debt Restructuring 8 Mining in Zambia Economy 

Zambia Association of Manufacturers Foresees Economic Recovery Post-Debt Restructuring

Constance
The Zambia Association of Manufacturers (ZAM) expresses confidence in the restoration of Zambia’s credibility among the international community and lending institutions following debt restructuring. ZAM President Ashu Sagar asserts that Zambia can now focus on economic growth, thanks to debt restructuring measures. Sagar emphasizes that restructuring will enable the country to allocate resources towards crucial sectors, promoting investment and development. The previous debt burden had created uncertainty for the private sector and potential investors, hindering domestic economic growth. Sagar urges remaining commercial creditors to expedite negotiations to ensure a swift… Read More Here
Presidents Hichilema and Masisi Advocate for Optimization of Kazungula Bridge Asset 9 Mining in Zambia Transport and Logistics 

Presidents Hichilema and Masisi Advocate for Optimization of Kazungula Bridge Asset

Constance
President Hakainde Hichilema and his counterpart Mokgweetsi Masisi have emphasized the need to optimize the Kazungula Bridge asset to ensure uniform development in the surrounding areas. They urged relevant offices to expedite negotiations on pending agreements during a joint communique read by Foreign Affairs Permanent Secretary Etambuyu Gundersen after witnessing the signing of 10 instruments of cooperation. Additionally, both presidents highlighted the importance of constructing a rail line to promote traffic flow across the bridge and enhance trade between Zambia and Botswana. Stakeholders have welcomed the signing of the 10… Read More Here
Trafigura to Pay $126 Million and Plead Guilty to Brazil Bribes 10 International 

Trafigura to Pay $126 Million and Plead Guilty to Brazil Bribes

Constance
Trafigura Group will pay $126 million and plead guilty to US charges related to bribery in Brazil, in the latest case involving corruption by a commodity trading giant. Trafigura is expected to enter the guilty plea in a federal court in Miami on Thursday, according to a person familiar with the matter, who asked not to be identified because the information is not yet public. Spokespeople for Trafigura and the Department of Justice both declined to comment. Trafigura’s is the latest in a string of cases in which the world’s… Read More Here

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