Constance - Copperbelt Katanga Mining

Written by Constance

FQM and Rio Tinto Announce Completion of the La Granja Agreement

August 28, 2023August 28, 2023 Constance

Canadian firm First Quantum Minerals and mining major Rio Tinto have finalised the establishment of a joint venture (JV) to develop the La Granja copper project in Peru. Located at a high altitude in Cajamarca, Northern Peru, La Granja is a complex orebody with a potential for a large, long-life operation. The project’s indicated and inferred mineral resources total at 4.32 billion tonnes at 0.51% of copper. After fulfilling conditions such as regulatory clearances in Peru, First Quantum picked a 55% interest in the project from Rio Tinto, in a $105m deal.… Read More Here

International Coal Energy Mining safety

Eleven people killed in China coal mine explosion

August 28, 2023August 31, 2023 Constance

A coal mine explosion in China’s Shaanxi province claimed the lives of 11 people. The incident took place last week while a total of 90 miners were present at the shaft, according to the provincial Department of Emergency Management. The site of the blast was the city of Yan’an in northern China, a mountainous region in the Shaanxi province where mining has been a key economic activity. At the time of the explosion, nine people were trapped inside and “found with no vital signs”, state broadcaster China Central Television… Read More Here

Gold International

Tanzania to Establish National Gold Reserve in 2023

August 28, 2023August 28, 2023 Constance

Tanzania’s decision to establish a National Gold Reserve to strengthen its local currency comes at a time when global central banks are turning to gold as a safe-haven asset. As Africa’s fourth-largest gold producer, Tanzania’s focus on retaining its gold output within the country raises questions about the significance of such a move for its economy. This Article explores the dynamics of the Tanzania gold market, the benefits and disadvantages of gold exports, and the potential impact of establishing a National Gold Reserve on Tanzania’s economy. Tanzania’s Gold Market and… Read More Here

Economy International

China to Collaborate with African States for Enhanced Development Strategies

August 27, 2023August 27, 2023 Constance

China is ready to support Africa in strengthening the articulation of their development strategies. Within the framework of the Belt and Road Initiative and the Forum on China-Africa Cooperation (FOCAC) and in synergy with the AU Agenda 2063, China will strengthen dialogue and communication with the Africa at different levels and will support African integration institutions like the AfCFTA Secretariat, the Pan-African Payment and Settlement System and the African Broadcasting Union in establishing cooperation mechanisms with China. These are the assurances given by Chinese President Xi Jiping in his speech… Read More Here

International Economy

15th BRICS summit: South Africa Urges China for Economic Paradigm Shift

August 27, 2023August 27, 2023 Constance

After the failures noted in the Chinese economic approach relying on the development of infrastructure in underdeveloped countries in Africa following the “Belt and Road” initiative led by Chinese President Xi Jinping in 2013, several African countries have called China to reorient its economic paradigm towards the local industrialization of African countries. The announcement was reported by the head of African Affairs for China, Wu Peng, during a press briefing held on Tuesday, August 22, 2023, in South Africa, on the sidelines of the 15th BRICS summit. “African integration is… Read More Here

International Battery Metals

Nigeria’s Ministry of Transportation Plans Electric Car Fleet Acquisition

August 27, 2023August 27, 2023 Constance

Nigeria’s Ministry of Transportation has revealed its ambitious plan to acquire a fleet of electric cars in an effort to improve transportation effectiveness and address rising concerns about fuel costs. This change is anticipated to improve commuter convenience countrywide as well as cut carbon emissions. Sa’idu Alkali, the recently sworn-in Minister of Transportation made the announcement in Abuja after returning to work last week. He claims that the purchase of these cars would help to lower the high transportation costs that have resulted from the removal of fuel subsidies. “The… Read More Here

Economy Mining in DRC

China’s July 2023 Imports and Exports with BRICS Nations Surge by 19.1%

August 27, 2023August 27, 2023 Constance

In January-July 2023, China’s imports and exports with other BRICS members rose 19.1 percent year-on-year to 2.38 trillion yuan (about $330.62 billion). These data published by the General Administration of Customs of China were relayed by its Embassy in the Democratic Republic of Congo (DRC). According to the same source, trade between China and other BRICS countries amounted to 10.1 percent of China’s total foreign trade in the first seven months, up 1.6 percentage points. more than a year ago, according to Chinese customs authorities. China’s trade with other BRICS… Read More Here

International Gold News in Brief

Barrick Declares Q2 Dividend

August 27, 2023August 27, 2023 Constance

Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) has announced the declaration of a dividend of $0.10 per share for the second quarter of 2023. The dividend is consistent with the Company’s Performance Dividend Policy announced at the start of 2022. The Q2 2023 dividend will be paid on September 15, 2023 to shareholders of record at the close of business on August 31, 2023. “As a result of the continuing overall strength of our business and balance sheet, we have maintained the distribution of a robust base dividend to our shareholders, while our… Read More Here

Gold Mining in DRC Mining in Zambia

Barrick Progresses Extension of Long-Term Value Delivery Runway

August 27, 2023August 27, 2023 Constance

Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) is on target to meet its gold and copper production guidance for 2023 and continues to advance major projects which will drive value delivery in the long term through organic growth, president and chief executive Mark Bristow said today. Commenting on the company’s Q2 results, Bristow said improved performances from the Carlin complex in Nevada, the Kibali gold mine in the Democratic Republic of Congo and the Lumwana copper mine in Zambia have laid a sound foundation for production in the second half of the year… Read More Here

Mining in DRC Economy Events & Expos

JM Sama Lukonde presents the DRC at 15ᵉ BRICS summit

August 25, 2023August 25, 2023 Constance

On the last day of the 15ᵉ BRICS Summit held in Johannesburg, South Africa and before the joint declaration sanctioning the end of these meetings, the Prime Minister, Jean-Michel Sama Lukonde Kyenge, intervened, this Thursday, August 24, 2023, before the Heads of State and Government members of this organization and of the invited countries, to deliver the speech of the Democratic Republic of Congo, on behalf of the President of the Republic, Félix-Antoine Tshisekedi Tshilombo. In his speech, the Congolese Head of Government first praised the “optimism” that characterizes the… Read More Here