Constance - Copperbelt Katanga Mining

Written by Constance

Mozambique to Engage Independent Body for Mineral Export Inspections

October 4, 2023October 4, 2023 Constance

The Mozambican government intends to hire an independent entity to inspect the quantities of minerals exported overseas, in order to stop under-invoicing and tax evasion in the mineral sector, according to the director general of the National Mining Institute (INAMI), Elias Daúde. The entity, according to Daúde, cited in Monday’s issue of the Maputo daily “Notícias”, may start working within the current year. The director general said that the entity, identified in the first public tender, should have started working but it was noted that there were conflicts of interest,… Read More Here

Sibanye-Stillwater CEO Neal Froneman Named Chair of World Gold Council

October 4, 2023October 4, 2023 Constance

Global gold industry organization, the World Gold Council (WGC), has appointed Neal Froneman, CEO of Sibanye-Stillwater, as its new chairperson and Niël Pretorius, CEO of DRDGold, as a director. Froneman, with over 40 years of mining experience, succeeds Randy Smallwood, President, and CEO of Wheaton Precious Metals Corp, who served as WGC chair since 2020. Under Froneman’s leadership, Sibanye-Stillwater transformed from a South African gold producer into a diversified mining and processing company with assets worldwide. Sibanye-Stillwater has also made significant strides in platinum group metals recycling and tailings reprocessing.… Read More Here

International Copper

Panama to withdraw proposed contract for Canadian miner FQM’s unit

October 4, 2023October 4, 2023 Constance

Panama’s government authorized on Tuesday September the withdrawal of a proposed contract to regulate operations of Canadian miner First Quantum’s local unit, Minera Panama, from Congress to make changes requested by lawmakers. President Laurentino Cortizo‘s administration and the Canadian miner had agreed on the text of the contract to operate the key Cobre Panama copper mine in March, but it was awaiting the assembly’s approval. “We hope to work together with the company Minera Panama to agree on the phrasing needed to resolve the points indicated by the congress’ trade committee,” the presidency said in a post on social… Read More Here

International Gold

Barrick Gold Partners with PRISMA for Enhanced Tanzanian Site Training

October 4, 2023October 4, 2023 Constance

Barrick Gold, a large gold producer, has partnered with PRISMA Training Solutions, a leading professional training provider, to enhance training at its sites in Tanzania The gold producer has targeted fostering local mining sector growth at its North Mara and Bulyanhulu mining projects and has collaborated with PRISMA in order to deliver tailored and sustainable education and training solutions. The aim of the partnership is to enhance productivity, efficiency and safety at the sites while prioritising human capital development and elevating the capabilities of local suppliers. The project, which is… Read More Here

Mining in Zambia Copper Gold Partnership

Barrick Bolsters Zambia Partnership with Lumwana Mine Expansion Investment

October 4, 2023October 4, 2023 Constance

Barrick’s transformation of its Lumwana mine into a world-class producer will provide strong impetus for the government’s thrust to revive the country’s copper industry, president and chief executive Mark Bristow said on September 3rd after a meeting with Zambian President Hakainde Hichilema. Barrick is investing almost $2 billion in an expansion project designed to increase Lumwana’s annual production to an estimated 240,000 tonnes of copper from a 50 million tonne per annum process plant over a 36-year life of mine, elevating this once-unprofitable operation into the front rank of copper… Read More Here

Mining in DRC Infrastructural Development

DRC President Inaugurates 2,400 m² Customs Services Building in Kasumbalesa

October 4, 2023October 4, 2023 Constance

On Tuesday, October 3, 2023, President Félix Tshisekedi of the Democratic Republic of Congo (DRC) unveiled two significant infrastructure projects at the border crossings of Kasumbalesa, situated 91 kilometers from Lubumbashi, and Sakania, approximately 200 kilometers away from Lubumbashi. Previously scattered across a 7-kilometer radius from the border post, all the official services involved in the customs process are now consolidated within a modern building, encompassing a total of 2,400 square meters, equipped with state-of-the-art operational facilities at the Kasumbalesa border post in Haut-Katanga. Key Advantages of the New Building:… Read More Here

International

Vedanta Announces Spin-Off and Listing of Six Business Units for Growth

October 2, 2023October 2, 2023 Constance

Indian conglomerate Vedanta has unveiled plans to demerge and list six of its business units in a bid to boost their growth prospects. The move is part of Vedanta’s strategy to enhance valuations and comes as its UK-based parent company, Vedanta Resources, faces challenges in raising funds due to rating downgrades and concerns about meeting debt obligations. The six units set for listing are as follows: .Vedanta Aluminium .Vedanta Oil & Gas .Vedanta Power .Vedanta Steel and Ferrous Materials .Vedanta Base Metals .Vedanta Limited Chairman Anil Agarwal emphasized that the… Read More Here

Mining in Zambia

ZCCM-IH Shareholders Approve K724 Million in Dividends

October 2, 2023October 2, 2023 Constance

During ZCCM Investments Holdings Plc’s 19th Annual General Meeting (AGM) on Friday, September 29, 2023, shareholders gave their approval for combined dividends totaling K724 million. These dividends cover the financial years ending on December 31, 2022, and December 31, 2021. Out of the approved dividend amount, the government will receive more than half a billion Kwacha, specifically K562 million. The Industrial Development Corporation (K437 million) and the Ministry of Finance and National Planning (K125 million) will be the beneficiaries of these dividends. The dividend approval follows a significant increase in… Read More Here

Mining in DRC Oil & Gas Petroleum

Deputy Prime Minister Visits Lubumbashi to Address Fuel Crisis

October 1, 2023October 2, 2023 Constance

The city of Lubumbashi, located in the Haut-Katanga province in the Democratic Republic of Congo, is facing a severe fuel crisis due to an ongoing strike initiated by players in the oil industry. In response to this tense situation, Deputy Prime Minister and Minister of the National Economy, Vital Kamerhe, led a government delegation to Lubumbashi on Saturday, September 30. The delegation included the Minister of Hydrocarbons, Didier Budimbu, and other senior officials. The primary objective of this mission is to assess the demands of oil sector operators in the… Read More Here

Mining in DRC Battery Metals Mining in Zambia

DRC Aims to Transform Battery Supply Chain

October 1, 2023October 1, 2023 Constance

The Democratic Republic of Congo (DRC) is looking to shift its focus from exporting raw materials to processing them locally to enhance economic benefits. And Zambia’s Minister of Mines, Paul Chanda Kabuswe, emphasized the importance of moving up the value chain to benefit local communities during the recent DRC-Africa Battery Metals Forum. Congo currently holds a significant share of global cobalt production, mainly exporting the metal for battery manufacturing. Both Congo and Zambia have plans to establish a special economic zone for processing raw materials into preliminary products for the… Read More Here