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Copper Slides to $8,075 per Tonne in DRC, October 9-14, 2023 1 Mining in DRC Copper 

Copper Slides to $8,075 per Tonne in DRC, October 9-14, 2023

Constance
The main mining export products of the Democratic Republic of Congo show a downward trend during this week from October 9 to 14, 2023, attest to the projections of experts from the National Mercuriales Commission of the Ministry of Foreign Trade. Copper continues its fall during this week. The red metal is trading around 8,072 USD per tonne against 8,095 USD per tonne last week, showing a drop of 23 USD. Zinc is up this week at 2,564 USD per tonne against 2,496 USD per tonne last week, an improvement of… Read More Here
ERG Africa's Boss Mining and Subsidiaries Join Lualaba Mining Show 2 Mining in DRC Corporate News Events & Expos 

ERG Africa’s Boss Mining and Subsidiaries Join Lualaba Mining Show

Constance
The Lualaba Mining Show aims to drive the critical involvement of the mining industry in the development of Lualaba Province. The first edition of the Lualaba Mining Show 2023 was held on 5 and 6 October, at the Musompo Trading Centre in Kolwezi, in the Democratic Republic of Congo (DRC). The exhibition organized under the patronage of Her Excellency, the Governor of Lualaba Province, Ms Fifi Masuka Saini, garnered the presence of esteemed dignitaries, including DRC President, His Excellency Félix-Antoine Tshisekedi Tshilombo, who also officiated the… Read More Here
Jubilee Metals announces award of a significant New Slag Project with Mopani Copper Mines 3 Mining in Zambia Battery Metals Cobalt Copper 

Jubilee Metals announces award of a significant New Slag Project with Mopani Copper Mines

Constance
Jubilee Metals Group PLC (AIM: JLP/Altx: JBL), a diversified metals processing business with operations in Africa, is pleased to announce the award of the large Mufulira Slag Project through a Joint Venture (“JV”) collaboration with Mopani Copper Mines (“MCM”) (“The Slag Project”). This binding and exclusive award of The Slag Project aims to process approximately 13 million tonnes of historical slag, estimated to contain 0.7% copper and 0.27% cobalt in addition to the current slag arisings.  Under the targeted JV, Jubilee is exclusively appointed to design, implement and operate the new… Read More Here
ERG Inks Cobalt Supply Agreement with Leading US Battery Materials Producer 4 Mining in DRC Battery Metals Cobalt 

ERG Inks Cobalt Supply Agreement with Leading US Battery Materials Producer

Constance
Luxembourg-based Eurasian Resources Group (ERG) announced a five-year cobalt supply agreement with EVelution Energy, an electric vehicle (EV) battery materials producer in the United States, starting in 2026. This deal is part of the growing investment in the US electric vehicle battery supply chain, driven by President Joe Biden’s Inflation Reduction Act, which offers substantial green energy tax credits. ERG will provide EVelution with 3,000 metric tons of cobalt metal annually, supporting EVelution’s plans to establish a low-carbon cobalt sulphate plant in Arizona by 2026, powered by solar energy. This… Read More Here
DRC President opens Kamoa Centre of Excellence 5 Mining in DRC Copper Corporate social responsibility Governance 

DRC President opens Kamoa Centre of Excellence

Constance
Ivanhoe Mines Executive Co-Chair Robert Friedland and President Marna Cloete announced that His Excellency Félix Tshisekedi, President of the Democratic Republic of the Congo, visited the Kamoa-Kakula Copper Complex to formally open the Kamoa Centre of Excellence and address the workforce. The ceremony was also attended by the First Lady, Her Excellency Denise Nyakeru Tshisekedi, the Prime Minister of the Democratic Republic of the Congo, His Excellency Jean-Michel Sama Lukonde, the Governor of the Province of Lualaba, Ms. Fifi Masuka, and other members of the DRC national government. The recently… Read More Here
DRC: Fatal Assault on Chinese Mining Base in Fizi, South Kivu 6 Mining in DRC Gold Mine Safety 

DRC: Fatal Assault on Chinese Mining Base in Fizi, South Kivu

Constance
Unidentified armed individuals carried out an intrusion during the night from Sunday to Monday, October 9, within a mining installation operated by the company TSM Mining in Kachemba, in the territory of Fizi, province of South Kivu. According to security sources, the attack, which occurred around 1 a.m., was carried out by suspected attackers from the village of Kalondakibuyu, located in the territory of Kabambare, Maniema.  The targeted concession, specializing in gold mining, was the target of a shootout between the attackers and members of the Armed Forces of the… Read More Here
Zimbabwe Launches Gold-Backed ZiG Tokens to Combat Re-Dollarization Threat 7 Gold Economy International 

Zimbabwe Launches Gold-Backed ZiG Tokens to Combat Re-Dollarization Threat

Constance
Zimbabwe has launched a new gold-backed digital currency to halt re-dollarization, which the administration of President Emmerson Mnangagwa worries could destroy the nation’s already precarious economy. The digital tokens, also known as Zimbabwe Gold (ZiG), which are primarily measured in milligrams, may be used for transactions by both private persons and businesses, according to the nation’s central bank. In addition to being priced in US dollars and local currency, they may be purchased via banks in ZiG. Bank customers may use their ZiG accounts to make purchases through point-of-sale terminals… Read More Here
China's top copper buyers expect a 36% cut in Codelco premium 8 International Copper 

China’s top copper buyers expect a 36% cut in Codelco premium

Constance
China’s largest copper buyers expect to pay a premium of around $90 per metric ton next year for Codelco’s metal, 36% below what they are paying this year, four sources with direct knowledge of the matter said. Premiums set for physical delivery of copper are paid on top of the reference London Metal Exchange (LME) contract and are sometimes used as a benchmark for global contracts. Codelco Chairman Maximo Pacheco told Reuters last week that China remained an important market for the Chilean miner, accounting for 40%-45% of Codelco’s sales… Read More Here
Panama cabinet approves modified contract with FQM 9 Copper International 

Panama cabinet approves modified contract with FQM

Constance
Panama’s cabinet on Tuesday approved a modified version of the government’s contract with a local subsidiary of Canadian miner First Quantum, after extended talks over regulations concerning the open-pit copper mine the firm operates. A government statement said the modifications include stipulations that the subsidiary, Minera Panama, can only explore, extract and exploit copper and its derivatives in the concession area in the Donoso and Omar Torrijos districsts. It removed a clause saying the state would consider granting exploring rights for gold, silver and molybdenum, as well as a clause… Read More Here
Mopani Mining in Zambia Battery Metals Copper 

Zambia to Finalize Mopani Copper Mines Sale Amid Complex Negotiations

Constance
The Zambian government is poised to make a decisive choice this month regarding the sale of Mopani Copper Mines, securing new investors for the assets acquired from Glencore in 2021, according to an insider familiar with the situation. The country’s Mines Minister, Paul Kabuswe, had initially set a target of selecting new investors for the struggling copper mines by the end of July. However, complex negotiations have caused delays in the process. It also involves Glencore, to which Mopani owes money. ZCCM IH, a Zambian government unit, is being advised… Read More Here

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