Constance - Copperbelt Katanga Mining

Written by Constance

FQM Affirms Continued Ownership of Zambian Mines, Dismisses Sale Speculations

January 9, 2024January 9, 2024 Constance

First Quantum Minerals (FQM), centered on Zambia, has refuted claims of its intention to sell any share of its copper mines within the country. FQM boasts an 80% ownership of the Kansanshi copper mine and smelter in Solwezi, alongside complete ownership of the Sentinel copper and Enterprise nickel mines located in the Kalumbila district. In response to what it labels as “baseless rumors,” the company clarified that it has no ongoing discussions with Chinese State-owned enterprise Jiangxi Copper Corporation, or any other entity, regarding the sale of its Zambian operations.… Read More Here

Copper Mining in DRC Transport and Logistics

Delayed Copper Ore Export Sparks Lobito’s Railways Interest

January 9, 2024January 9, 2024 Constance

The planned export of 960 tons of raw copper ore from the Kolwezi region in the Democratic Republic of Congo (DRC) faced a delay, shifting its scheduled start from the 8th to the 18th of this month. Artur Silva, the Commercial Director of Lobito Atlantic Railway (LAR), provided this update. Silva didn’t offer specific reasons for the shipment date change or the cargo’s final destination, mentioning that the copper was being bagged at the Multipurpose Terminal of the Port of Lobito before being containerized. He highlighted that the upcoming shipment… Read More Here

Copper Mining in DRC

Ivanhoe Mines Provides 2023 Production Results and 2024 Production Guidance for the Kamoa-Kakula Copper Complex

January 8, 2024January 8, 2024 Constance

.Kamoa-Kakula produced 393,551 tonnes of copper in concentrate in 2023, within guidance .Year-over-year copper production increased by 18% .Kamoa-Kakula sets 2024 production guidance at between 440,000 and 490,000 tonnes of copper, with Phase 3 concentrator ahead of schedule for completion in Q3 2024 .Daily milling record achieved of 31,084 tonnes by Phase 1 and 2 concentrators of ore on January 1, 2024 .Kamoa-Kakula’s 2024 cash cost and capital expenditure guidance will be included in 2023 year-end financial results on February 26, 2024 .Kamoa Copper’s outstanding growth profile aligns with first-class… Read More Here

Mining in DRC Gold

Réunion Gold Settles Alliance Dispute with Barrick Gold

January 6, 2024January 6, 2024 Constance

Réunion Gold and Barrick Gold officially settled their claim on Wednesday, December 20, reaching an amicable resolution. The resolution effectively ends all obligations between both entities, given that there’s no ownership remaining as per the alliance agreement. Despite this resolution, Réunion Gold maintains its primary focus on developing and exploring the Oko West project in north-central Guyana, which Barrick had excluded from the alliance back in January 2020. Notably, Barrick holds no rights to reclaim involvement in the project. Oko West, discovered through Réunion’s initial drilling program in 2020, boasts… Read More Here

International Economy

Africa Leads World’s Fastest-Growing Economies

January 6, 2024January 6, 2024 Constance

Africa is poised to be the second fastest-growing regional economy by 2024, with over 10 African countries experiencing substantial GDP growth. Last October, the International Monetary Fund emphasized Africa’s pivotal role in global economic development and resilience. Leading forecast growth are Niger, Senegal, Libya, Rwanda and Ivory Coast, whose economic expansion is largely anticipated from strategic and diversified energy sector investments. Niger – 11.1% In 2024, Niger is anticipated to be Africa’s fastest-growing economy with 11.1% GDP growth, contingent upon pivotal developments: early sanctions lifting, large-scale oil production, international financing resumption, and… Read More Here

International Equipment & Technology Mining Equipment Partnership Press Release

Epiroc field trials battery-electric SmartROC D65 BE with Capital Limited

January 6, 2024January 22, 2024 Constance

Epiroc has partnered up with leading mining services company Capital Limited to field test the innovative SmartROC D65 BE, a battery-electric surface drill rig for the mining and construction industry. The battery-electric version of the well-known SmartROC D65 surface drill rig will be tested in Capital Limited´s African operations during 2024. The demand for zero emission or low emissions is high, as the world is pushing to transition from fossil-fuel-driven equipment to sustainably powered rigs. The field test of the SmartROC D65 BE is therefore important both for Epiroc and… Read More Here

Mining in Zambia Copper

First Quantum Considers Sale of Zambian Mines Amid Financial Strain

January 6, 2024January 6, 2024 Constance

Canadian mining company First Quantum Minerals (TSX: FM) is reportedly exploring the sale of a stake in its Zambian copper mines to alleviate financial strain following the enforced closure of its major copper mine in Panama. Rumors suggest that First Quantum Minerals (FM.TO) is in discussions with the Chinese state-owned Jiangxi Copper Corp regarding the potential sale of its Zambian copper assets to stabilize its financial standing. However, specifics of the deal are yet to be finalized, leaving the outcome uncertain. The talks were initiated after First Quantum faced setbacks… Read More Here

International Gold

Burkina Faso: West African Resources Unlocks $100M for Kiaka Project

January 5, 2024January 6, 2024 Constance

Mining company, West African Resources, has received $100 million in financing from a fund managed by Sprott Resource Lending Corp. (Sprott) and Coris Bank International SA (Coris) to finance operations at the Kiaka Gold Project in Burkina Faso. The financing is part of a $265-million package that the mining firm secured from Sprott and Coris to support the Kiaka Project and various other operations. According to Richard Hyde, Managing Director at West African Resources, first production from the Kiaka Project is anticipated in the first half of 2025. “Kiaka will… Read More Here

International Economy

BRICS Officially Welcomes 5 New Members

January 5, 2024January 5, 2024 Constance

Intergovernmental organization, the BRICS group, has officially expanded its membership, welcoming Egypt, Iran, Saudi Arabia, the United Arab Emirates, and Ethiopia as new members. The strategic move is part of BRICS’ commitment to fostering a more diverse and inclusive global order that benefits the Global South and follows the issuance of membership invitations to six countries during the 15th BRICS Summit – held in Johannesburg in August 2023. Effective from January 1, 2024, the inclusion of these five nations underscores BRICS’ dedication to strengthening multilateralism for equitable global development and… Read More Here

International Copper Exploration

Barrick and Antofagasta to spend $95m exploring for copper in Chile

January 5, 2024January 5, 2024 Constance

Canada’s Barrick Gold (TSX: ABX)(NYSE: GOLD) and Chilean miner Antofagasta (LON: ANTO) have partnered to explore together for copper and other metals in the Alto del Carmen area of the country’s northern Atacama region. Through the newly formed Minera El Encierro, the companies will invest about $95 million to enable 60 drilling platforms on a property comprising 35 concessions that cover an area of 9,400 hectares. Drilling will be carried out over five years and each campaign will have an estimated duration of 10 months, El Encierro said in its… Read More Here