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DRC Reports Strong H1 2023 Gold Exports at $677.3 Million 1 Mining in DRC Economy Gold 

DRC Reports Strong H1 2023 Gold Exports at $677.3 Million

Constance
The Democratic Republic of Congo (DRC) exported 15 tonnes of gold during the first six (6) months of the current year (2023) to international markets.According to the report of the Technical Cell of Coordination and Mining Planning of the Ministry of Mines, this volume of export of Congolese raw gold generated revenues of around 677.3 million US dollars during the first half of 2023. Indeed, the Kibali Gold company exported more than 13 tonnes of gold estimated at 556.1 million US dollars. On the other hand, the MCCR company only… Read More Here
Latest Developments in the Manono Lithium Evolution 2 Mining in DRC Battery Metals Lithium 

Latest Developments in the Manono Lithium Evolution

Constance
Contrary to AVZ Minerals’ claims in their announcement on October 9, 2023, it appears that there has been limited progress in the Memorandum of Understanding (MOU) between the Congolese Government and the Australian company. It seems that the Congolese side is growing frustrated with AVZ Minerals’ CEO, Mr. Nigel Ferguson, and his board for their handling of the “Manono Lithium” project. AVZ Minerals has been at the helm of this project for several years, and one would expect them to have anticipated and resolved the conflicts that are currently hindering… Read More Here
First Quantum Adjusts Production Guidance for Key Mines 3 Copper Mining in Zambia 

First Quantum Adjusts Production Guidance for Key Mines

Constance
First Quantum, a Canadian-headquartered mining company, has revised its copper production guidance for the year due to the performance of its three primary mines: Cobre Panamá, Kansanshi, and Sentinel. The new copper production guidance is set between 745,000 t and 775,000 t, down from the previous estimate of 770,000 t to 840,000 t. Despite improved production in the third quarter, the lower guidance is based on year-to-date performance. Copper production increased by 18% to 221,550 t in Q3, with copper C1 cash costs dropping by $0.56/lb from the second quarter… Read More Here
Sibanye-Stillwater to Begin Talks on Restructuring of Four Southern African PGM Shafts 4 International Corporate News News in Brief 

Sibanye-Stillwater to Begin Talks on Restructuring of Four Southern African PGM Shafts

Constance
Sibanye-Stillwater, a dual-listed company, is entering discussions with organized labor and other affected non-unionized employees and their representatives regarding the potential restructuring of four platinum group metal (PGM) shafts in its Southern African business. This restructuring and potential shaft closures may impact around 4,095 employees and contractors, including support services employees. While two of the shafts have already ceased production due to depleted ore reserves and economic viability, the other two require restructuring for sustainable production. Rising costs and falling PGM prices have challenged the profitability of the global PGM… Read More Here
FQM Advances Option Agreement with African Pioneer Zambia Ltd in Namibia 5 Mining in Zambia Copper 

FQM Advances Option Agreement with African Pioneer Zambia Ltd in Namibia

Constance
Namibia-focused exploration and development company, African Pioneer Zambia Ltd, provided updates regarding its option agreement with First Quantum Minerals Ltd, an 80% owned subsidiary of African Pioneer Zambia Ltd. An addendum to the original agreement, announced in January, was agreed upon on October 20. First Quantum Minerals exercised their option over two out of four licenses subject to the agreement, initiating a two-year earn-in period. Due to the progress made and expenses incurred so far, First Quantum has been granted an additional six months until January 17, 2024, to spend… Read More Here
Zijin Mining Asserts Its Right to Develop Manono Lithium Mine in the DRC 6 Mining in DRC Battery Metals Cobalt Copper Lithium 

Zijin Mining Asserts Its Right to Develop Manono Lithium Mine in the DRC

Constance
China’s Zijin Mining is determined to move forward with the contentious Manono Lithium mine in the Democratic Republic of Congo (DRC) after being granted permission to develop the deposit. Originally owned by Australian AVZ Minerals, the mineral-rich site had its permit revoked by the DRC’s mines ministry due to slow development progress. As a top gold and copper miner in China, Zijin has been actively acquiring lithium assets in South America and Africa to supply the electric vehicle battery industry. Zijin’s subsidiary, Jinxiang Lithium, holds a 61% stake in Manono… Read More Here
First Quantum’s 20-year deal on Cobre Panama now official 7 International Copper 

First Quantum’s 20-year deal on Cobre Panama now official

Constance
First Quantum Minerals (TSX: FM) says the law governing the mining concession for its Cobre Panama copper mine was passed and published in the Official Gazette of Panama on Oct. 20. Thus ends a period of uncertainty that began last year for the company. The Panamanian government last December ordered First Quantum to halt operations at Cobre Panama amid disagreements during contract negotiations, which later broke down. Talks eventually resumed and the parties reached an agreement in March. First Quantum had estimated that suspensions at the mine which lasted for… Read More Here
Zambia Secures $15 Billion from China for Africa's Largest Copper Smelting Plant 8 Mining in Zambia Copper 

Zambia Secures $15 Billion from China for Africa’s Largest Copper Smelting Plant

Constance
Zambia’s government has successfully obtained $15 billion in funding from China to establish a monumental Copper Smelting Plant in the Kabompo district of the North Western Province. This ambitious project, set to become the largest of its kind in Africa, is a joint venture between the Zambia National Service (ZNS) and a Chinese investor. During an interactive forum with Kabompo District residents, ZNS Commander Lieutenant General Maliti Solochi announced the commencement of this remarkable endeavor by the end of the year. Notably, this project will be accompanied by a substantial… Read More Here
Tanzanian President Commends Zambia's Economic Progress 9 Mining in Zambia Economy News in Brief 

Tanzanian President Commends Zambia’s Economic Progress

Constance
Tanzanian President Samia Suluhu Hassan has praised Zambia for its significant economic advancements achieved in the past two years under President Hakainde Hichilema’s leadership. President Samia emphasized the need for both countries to strengthen their diplomatic, business, and people-to-people relationships for mutual benefits. During a State banquet ahead of Zambia’s 59th Independence Day, President Samia highlighted the positive impact of shared economic corridors on fostering closer relations and business connections between the two nations. President Hichilema reaffirmed Zambia’s commitment to enhancing the partnership with Tanzania and continuing the legacy of… Read More Here
STATE HOUSE HONOURS LATE FQM LEADER PHILIP PASCALL  10 Mining in Zambia Copper 

STATE HOUSE HONOURS LATE FQM LEADER PHILIP PASCALL 

Constance
The late co-founder and chairman of First Quantum Minerals Ltd, Philip Pascall, has received the rare honour of being recognized and honored at the annual Independence Day awards at State House.Mr Pascall, who passed away in September this year, was posthumously bestowed with the Order of the Eagle of Zambia Third Division in recognition of his service to the nation.The accolade was accepted from President Hakainde Hichilema by his son and FQM Chief Executive Officer Tristan Pascall during an investiture ceremony in Lusaka on yesterday October 24, 2023.“It is a… Read More Here

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