You are here

Written by 

Goldman Sachs Forecasts Declines in Key Energy Transition Minerals (Study) 1 Battery Metals Cobalt Lithium Nickel 

Goldman Sachs Forecasts Declines in Key Energy Transition Minerals (Study)

Constance
Goldman Sachs, an American investment bank, forecasts significant declines in the prices of cobalt, nickel, and lithium over the next twelve months, driven by weakening demand from the electric vehicle industry in Western countries and oversupply. Despite already experiencing substantial drops—60% for nickel, 80% for lithium, and 65% for cobalt—from their peak levels, analysts at the Wall Street bank caution against premature optimism regarding the end of this downward trend. Over the coming year, Goldman analysts anticipate price decreases of 12% for cobalt, 15% for nickel, and 25% for lithium… Read More Here
BRICS Pursues Technology-Based Payment System to Reduce Dollar Dependency 2 International Economy 

BRICS Pursues Technology-Based Payment System to Reduce Dollar Dependency

Constance
The BRICS group aims to lessen reliance on Western currencies like the US dollar by establishing a technology-driven payment system, as announced by Mr. Ushakov, Foreign Policy Advisor to Russian President Vladimir Putin, to TASS news agency. “We believe it’s crucial to create an independent payment system within BRICS, leveraging modern technologies such as digital currencies and blockchain,” stated Mr. Ushakov, noting its cost-effectiveness and universal applicability. Russia, currently holding the presidency of the group, supports this initiative. BRICS Leads the Charge for Economic De-dollarization While the dollar still dominates… Read More Here
Copper and Other Mining Product Prices Show Slight Increases in International Markets 3 Mining in DRC Cobalt Copper Gold 

Copper and Other Mining Product Prices Show Slight Increases in International Markets

Constance
During the period between March 9 and 14, 2024, the price of copper was expected to experience a slight increase in international markets. According to the National Mercurial Commission of the Ministry of Foreign Trade, copper, a key mining product exported from the Democratic Republic of Congo (DRC), was projected to sell at USD 8,406 per tonne during this period, compared to USD 8,335 per tonne the previous week, indicating a modest increase of USD 71.45 or 0.86%. Additionally, other main mining products exported from the DRC, such as cobalt,… Read More Here
DRC Poised to Overtake Peru as World's Second Largest Copper Producer 4 Mining in DRC Copper Economy 

DRC Poised to Overtake Peru as World’s Second Largest Copper Producer

Constance1 Comment
The Democratic Republic of Congo (DRC), with its vast mineral wealth estimated at $24 trillion, is on the brink of surpassing Peru to become the world’s second-largest copper producer. In 2023, the DRC, already Africa’s leading copper producer, exported 2.84 million tonnes of copper, securing its position as the world’s second-largest copper producer, ahead of Peru, which exported 2.76 million tonnes. While these statistics await international confirmation, forecasts from Wood Mackenzie suggest that the DRC is on track to overtake Peru by 2026-2027, a sentiment echoed by Ruben Arrieta, a… Read More Here
FIRST QUANTUM CEO INSPECTS PROGRESS OF S3 EXPANSION AT KANSANSHI 5 Mining in Zambia Copper Economy 

FIRST QUANTUM CEO INSPECTS PROGRESS OF S3 EXPANSION AT KANSANSHI

Constance
First Quantum Minerals Chief Executive, Tristan Pascall, has been on the ground at Kansanshi to personally inspect the progress the company is making with its S3 expansion project. Of a total investment commitment of US$1.25 billion, the majority of this is being spent this year to ensure the entire project is completed by mid-2025. The S3 expansion entails an expansion of the mine pit and the mining fleet that services it, as well as the construction of a new processing plant, and a major expansion of the Kansanshi smelter. The… Read More Here
DRC Targets Local Ownership in Subcontracting 6 Mining in DRC Governance 

DRC Targets Local Ownership in Subcontracting

Constance
In the Democratic Republic of Congo (DRC), the Regulatory Authority for the Control of Subcontracting in the Private Sector (ARSP) currently registers 15,000 subcontracting companies. Director General Miguel Kashal Katemb announced plans to increase this number to 50,000 to 60,000 by the end of 2024 during a briefing with Minister of Communication and Media, Patrick Muyaya. Efforts are underway to ensure that Congolese businesses secure significant contracts, particularly in the mining sector, according to Kashal. Since 2017, the ARSP has enforced laws requiring subcontracting to be predominantly owned by Congolese… Read More Here
Barrick to Grow Production and Value on Global Asset Foundation 7 Gold Copper International Press Release 

Barrick to Grow Production and Value on Global Asset Foundation

Constance
Barrick’s peerless gold and rapidly growing copper portfolios now extend across all the major gold and copper districts worldwide, providing the company with a solid base from which to grow its production and value, directed by a proven strategy and supported by a broad spectrum of skills, says president and chief executive Mark Bristow in the 2023 Annual Report published today. “Discovery and development are the true drivers of value and our strong focus on exploration is evident in our widespread hunt for new discoveries with Tier One1 potential as… Read More Here
Theta Gold Secures Approvals for Mining Operations at MR 83 in South Africa 8 International Gold 

Theta Gold Secures Approvals for Mining Operations at MR 83 in South Africa

Constance
Theta Gold, a mining company, announces that it has obtained all necessary approvals to initiate mining activities at Mining Right (MR) 83, encompassing the Beta, CDM, and Frankfort mines, located in South Africa’s Mpumalanga province. “We are delighted to confirm that MR 83 has secured all requisite permits, marking a significant milestone for potential project financing as previously disclosed,” stated Theta’s chairperson, Bill Guy. “With this accomplishment, our focus shifts to finalizing funding arrangements and collaborating with our chosen engineering, procurement, and construction contractor to construct the gold processing plant.”… Read More Here
President Tshisekedi Meets British Minister to Discuss Eastern DRC Security 9 Mining in DRC Governance 

President Tshisekedi Meets British Minister to Discuss Eastern DRC Security

Constance
President Félix Tshisekedi met on Wednesday at the African Union City with a British delegation led by Richard Henry Ronald Benyon, Britain’s Minister of State for Foreign Affairs, Environment and Climate. The security crisis in the east of the country was among the topics discussed. “We want to help the DRC find solutions to this terrible situation. We will use all channels of communication to focus on peace in the DRC,” Lord Benyon said. In addition, Lord Benyon reiterated the UK’s commitment to creating a mutually beneficial partnership with the… Read More Here
Copperbelt Province Minister Urges Mopani Copper Mines to Settle Debts 10 Mining in Zambia Copper 

Copperbelt Province Minister Urges Mopani Copper Mines to Settle Debts

Constance
Copperbelt Province Minister Elisha Matambo has called upon Mopani Copper Mines (MCM) to initiate the repayment of outstanding debts owed to Kitwe City Council (KCC) following the recent unlocking of the mining firm. MCM’s substantial indebtedness to the local authority has reportedly impeded the provision of essential services. Last month, shareholders of ZCCM-IH unanimously approved the acquisition of a 51 percent shareholding in Mopani Copper Mines Plc by Delta Mining Limited, a subsidiary of International Resource Holdings (IRH), representing an investment of up to US$1.1 billion. While ZCCM-IH retains a… Read More Here

You have successfully subscribed to the newsletter

There was an error while trying to send your request. Please try again.

Copperbelt Katanga Mining will use the information you provide on this form to be in touch with you and to provide updates and marketing.