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Botswana Aims to Expand and Diversify Its Mining Economy 1 International Economy 

Botswana Aims to Expand and Diversify Its Mining Economy

Constance
Botswana is looking to diversify its commodity portfolio, President Mokgweetsi Masisi said in Perth on Wednesday. Speaking on the first day of the Paydirt Africa Downunder conference, Masisi said that in order to diversify the country’s mineral portfolio, the government has embarked on a number of projects to identify the potential for mineral resources and to digitise and make geoscience information readily available to private investors in an effort to encourage prospecting. The Botswana Geoscience Institute (BGI) has been tasked with an aggressive systematic exploration programme to raise the current programme of prospectivity… Read More Here
Epiroc to supply equipment for Kamoa-Kakula Mining complex in DRC 2 Mining in DRC Copper Mining Equipment 

Epiroc to supply equipment for Kamoa-Kakula Mining complex in DRC

Constance
Kamoa Copper has ordered Minetruck MT65 S haulers, the world’s highest payload underground truck in the field, as well as Scooptram ST18 S loaders, Boomer 282 face drilling rigs, and Simba E70 S production drilling rigs. The machines will be used to expand operations at the Kamoa-Kakula Copper Mining Complex, which is projected to be among the world’s lowest greenhouse gas-emitting copper mines per unit of metal produced. The order is valued at almost MEUR 60 (MSEK 700) and was booked in the third quarter 2023.  Kamoa-Kakula is set to become… Read More Here
South African Miners join race to buy Khoemacau Copper mine 3 International Copper 

South African Miners join race to buy Khoemacau Copper mine

Constance
At least three South African miners are in the running to buy Botswana’s Khoemacau copper mine that is home to one of Africa’s largest copper deposits, several sources told Reuters, as growing demand for the metal ensures strong competition for the sought-after asset. Johannesburg-listed Impala Platinum, Exxaro Resources and Sibanye Stillwater are weighing bids for the copper and silver mine in Botswana, said the sources with knowledge of the matter, who declined to be named due to the sensitivity of the information. A number of unnamed Chinese investors, are also… Read More Here
Vedanta Explores Chris Griffith as Potential Head of African Base Metals Business 4 Mining Personality Copper Gold Mining in Zambia 

Vedanta Explores Chris Griffith as Potential Head of African Base Metals Business

Constance
Vedanta Resources is considering appointing former Gold Fields boss and Anglo American executive Chris Griffith as head of its African base metals business, according to people familiar with the matter. Indian billionaire Anil Agarwal’s Vedanta owns zinc mines in South Africa and neighboring Namibia, which will form the base-metals portfolio with Zambia’s Konkola Copper Mines. Griffith quit as Gold Fields CEO in December after the company’s failed attempt to take over Canada’s Yamana Gold Inc. He previously headed the platinum and iron-ore businesses of Anglo American, in which Agarwal was once the biggest shareholder. Talks are ongoing, and no final decisions have been made by either party on… Read More Here
Zambia's Mines Minister Announces Vedanta's Return to Konkola Copper Mines (KCM) 5 Mining in Zambia Copper 

Zambia’s Mines Minister Announces Vedanta’s Return to Konkola Copper Mines (KCM)

Constance
In a significant development for Zambia’s mining industry, Hon. Paul Kabuswe, the Minister of Mines and Minerals Development, announced on September 5, 2023, that Vedanta Resources will be reinstated to run Konkola Copper Mines (KCM). This announcement marks a pivotal moment in Zambia’s economic revival under the New Dawn government’s leadership, signaling the country’s commitment to sustainable growth and a thriving mining sector. The government aims to place the well-being of the Zambian people at the heart of its initiatives, transforming their livelihoods for the better. Resolving the KCM Impasse… Read More Here
Vedanta Resources' Pledge to Revitalize Konkola Copper Mines in Zambia 6 Mining in Zambia Copper 

Vedanta Resources’ Pledge to Revitalize Konkola Copper Mines in Zambia

Constance
In a momentous announcement, Mr. Pushpender Singla, Executive Director and Chief Financial Officer of Vedanta Zinc International South Africa, expressed Vedanta Resources Limited’s unwavering commitment to Zambia through its subsidiary, Konkola Copper Mines (KCM). He made this announcement at the Mulungushi International Conference Centre on September 4th, 2023. The occasion marked a significant milestone in Vedanta’s operations in Zambia and signaled their ambitious vision for KCM’s future. Reaffirming their dedication to KCM, Mr. Singla emphasized Vedanta’s intention to run the company boldly and embark on a journey to recapitalize this… Read More Here
Mopani Copper Mines Reports Declining Output and Deeper Losses 7 Copper Mining in Zambia Mining revenue 

Mopani Copper Mines Reports Declining Output and Deeper Losses

Constance
In the first half of this year, Mopani Copper Mines witnessed a significant drop in production, leading to increased financial losses for the operation, which was acquired from Glencore in 2021. According to a statement by the parent company, ZCCM-IH, Mopani’s losses in the six months through June escalated to $196 million, in contrast to $120 million during the corresponding period in the previous year. This deterioration in financial performance can be attributed to both a reduction in output and escalating operational costs. Copper production during this period dwindled to… Read More Here
Trafigura-Led Lobito Rail Upgrade Awaits Its First Users 8 Mining in DRC Battery Metals Cobalt Copper Mining in Zambia Transport and Logistics 

Trafigura-Led Lobito Rail Upgrade Awaits Its First Users

Constance
African metal producers are reluctant to make long-term commitments to use a railway a Trafigura-led consortium plans to upgrade, four sources with knowledge of the matter said. Known as Lobito Atlantic Railway, the consortium pitched the overhaul of the line, historically known as the Benguela Railway, that links resource-rich Democratic Republic of Congo (DRC) to the port of Lobito in Angola to bypass road congestion and avoid long delays on the copper and cobalt route. So far only Ivanhoe Mines is known to have signed a non-binding agreement to use the Lobito railway… Read More Here
197 investors sue Glencore over “untrue statements” in its prospectuses 9 International Copper 

197 investors sue Glencore over “untrue statements” in its prospectuses

Constance
Atotal of 197 funds are seeking damages from Swiss mining giant Glencore over allegations that the company made misleading or untrue statements in its prospectuses to cover up corrupt activities. The claimants, which include funds managed by  Abrdn , Fidelity, HSBC, Invesco, Legal & General and Vanguard, have alleged that they suffered financial losses as a direct result of “untrue statements” and omissions in Glencore’s 2011 prospectus for its listing on the London Stock Exchange. They are also suing for misleading information in the company’s 2013 prospectus relating to its merger… Read More Here
International Markets Witness Growing Demand for Cobalt, the 'Energy Transmission Ore' 10 Mining in DRC Battery Metals Cobalt 

International Markets Witness Growing Demand for Cobalt, the ‘Energy Transmission Ore’

Constance
According to data from the economic situation note of the Central Bank of Congo (BCC) of August 25, 2023, 99.8% cathode cobalt increased from USD 32,730.00 per tonne to USD 35,717.44 per tonne. ton, from one week to the next. Which represents an increase of almost 3,000 USD. “The price of cobalt remained stable around USD 32,985.00 per tonne from one week to the next. On the other hand, on the London market, the price of cobalt (99.8% cathode) increased by 9.13%, from 32,730.00 USD to 35,717.44 USD per tonne from one… Read More Here

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