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Trafigura metal executive Grenfell exits as unit pressure grows 1 International Battery Metals Cobalt Mining Personality Nickel 

Trafigura metal executive Grenfell exits as unit pressure grows

Constance
Trafigura Group’s head of metals business development is leaving, the latest sign of the pressure facing the commodity trader’s metals unit even as the company as a whole notches up record profits. Simon Grenfell is leaving Trafigura after just over three and a half years in the role, according to his LinkedIn profile. The company has appointed Matthew Hadfield as its new global head of business development for metals, said a person familiar with the matter, who asked not to be identified as the information is private. Trafigura’s metals business,… Read More Here
Perseus Mining posts 6.0% increase in African gold reserves 2 Gold International 

Perseus Mining posts 6.0% increase in African gold reserves

Constance
Perseus Mining Ltd. , an Australian company with a focus on Africa, has released an update on estimated mineral resources and ore reserves at its operations. The company currently operates three gold mines in Africa. They include the Edikan in Ghana, as well as the Sissingue and Yaoure mines in Cote d’Ivoire. It also owns the Meyas Sand Gold Project in Sudan, where employees were recently withdrawn following an outbreak of armed conflict. In a recent presentation, the company said 2023 financial year production was 535,281 ounces at an all-in-sustaining… Read More Here
South32 Deems Botswana Copper Mine Bidding "Rich" 3 International Copper 

South32 Deems Botswana Copper Mine Bidding “Rich”

Constance
Australian diversified miner South32 said while it has plenty of regional expertise, the sales process for Botswana’s Khoemacau copper mine was quite competitive. “It’s a competitive process, a bit rich for our blood to be honest,” CEO Graham Kerr told an earnings call on Thursday August 24th. The miner had picked investment bank RBC Capital to help it put together a bid for Botswana’s Khoemacau copper mine, a source told Reuters in June. SOURCE:mining.com Read More Here
DRC Aims to Regain Control with Bid for ERG's Copper and Cobalt Assets 4 Mining in DRC Cobalt Copper 

DRC Aims to Regain Control with Bid for ERG’s Copper and Cobalt Assets

Constance
The Democratic Republic of Congo (DRC) wants to buy back some of the country’s prized copper and cobalt deposits, as the government tries to gain more control of crucial green metals. The assets are some of those owned by Eurasian Resources Group, a Kazakh-backed miner and major cobalt producer with dozens of DRC mining and exploration permits. The government and state-owned miner Gecamines say ERG has been too slow to develop them — and Gecamines in June told ERG it wants to take some over, according to a July letter seen by Bloomberg that was sent… Read More Here
Vedanta Commits to Clear $250 Million Debt on Reacquiring Zambia's Copper Mines 5 Mining in Zambia Copper 

Vedanta Commits to Clear $250 Million Debt on Reacquiring Zambia’s Copper Mines

Constance
Vedanta Resources Ltd. has committed to paying off the outstanding debt of $250 million to its suppliers in Zambia, as soon as it regains control over the copper mines that were confiscated by the Zambian government over four years ago. In 2019, during the tenure of former President Edgar Lungu, the Konkola Copper Mines were placed under provisional liquidation due to allegations against Anil Agarwal’s Vedanta. The accusations included misrepresentation of expansion plans and insufficient tax payments. This move initiated a sequence of legal battles, culminating in the current President… Read More Here
Insights from U.S.-DRC-Zambia EV Battery Deal on New U.S. Africa Approach 6 Mining in DRC Battery Metals Cobalt Copper Mining in Zambia Partnership 

Insights from U.S.-DRC-Zambia EV Battery Deal on New U.S. Africa Approach

Constance
The U.S.-DRC-Zambia memorandum of understanding demonstrates how the United States aims to counter China and bolster its clean energy supply chains by deepening ties with African nations. Yet how distinct is the U.S. approach from the Chinese approach to such deals? In December 2022, at a sideline event during the U.S.-Africa Leaders Summit in Washington, the United States signed a trilateral memorandum of understanding (MOU) with the Democratic Republic of the Congo (DRC) and Zambia for the development of an integrated value chain for the production of electric vehicles (EV) batteries. This… Read More Here
DRC: ARSP Transfers Chinese Executives Linked to Fraud at TFM and KISANFU 7 Mining in DRC Environment Social Governance (ESG) Mining Policy 

DRC: ARSP Transfers Chinese Executives Linked to Fraud at TFM and KISANFU

Constance
A clear case of fraud has been uncovered by the senior management of the Authority for Regulation of Private Sector Subcontracting (ARSP) in the Democratic Republic of Congo (DRC). The Chinese executives of the company CCECAS are accused of using their driver as a nominee shareholder to disguise their operations under a partnership agreement signed with Tenke Fungurume Mining (TFM) and Kisanfu, both subsidiaries of the CMOC Group. Following investigations carried out by the Judicial Police Officers of the ARSP and subsequent working sessions chaired by the Director General, Miguel… Read More Here
Fortescue to build new 40 million tpa iron ore mine 8 International 

Fortescue to build new 40 million tpa iron ore mine

Constance
A Fortescue Metals Group subsidiary has filed for regulatory approval to build a new iron ore mine 80km north-west of Newman in WA. The $US2 billion (A$3.1 billion) Nyidinghu mine will produce roughly 40 million tonnes of iron ore each year for 26 years, with a first ore train expected in 2028. Chichester Metals, the subsidiary, has proposed a 92,301 hectare development envelope, which will include mine pits above and below the water table, an on-site ore processing from various sources, waste rock and tailings storage, an aerodrome, groundwater abstraction, surplus water management including… Read More Here
Sandvik delivers TH663i mining truck to Barminco at Zone 5 copper-silver mine in Botswana 9 International Copper Mining Equipment 

Sandvik delivers TH663i mining truck to Barminco at Zone 5 copper-silver mine in Botswana

Constance
Sandvik Mining has successfully delivered a cutting-edge 63 t class TH663i truck to the Zone 5 copper-silver mine, owned by Khoemacau Copper Mining in Botswana, in partnership with mining contractor Barminco. The operation is in the heart of the Kalahari Copper Belt. The Khoemacau operations are comprised of the Zone 5 underground mine and associated infrastructure, and the upgraded and expanded Boseto processing plant. The current operations can deliver 60,000 t/y copper and 2 Moz/y of silver in concentrate at full run rate. A planned Phase 2 expansion will more… Read More Here
Epiroc provides equipment financing to Trigon for Kombat mine restart 10 International Mining Equipment 

Epiroc provides equipment financing to Trigon for Kombat mine restart

Constance
Canadian miner Trigon Metals has secured $8.9m in  Financing from Epiroc South Africa to buy underground mining equipment to help relaunch operations at its Kombat copper mine in Namibia. The equipment will mainly include an underground mining fleet at the Kombat mine, where production is scheduled to ramp up from next April. Trigon bought the machinery through its Namibian unit, Trigon Namibia. Epiroc Financial Solutions has agreed to provide 85% of the purchase price worth $7.59m, with 15% of the down payment amounting to $1.33m to be paid upfront. The loan facility has a… Read More Here

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