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Vedanta in advanced stage of deal with Zambia over copper mine 1 Copper Mining in Zambia 

Vedanta in advanced stage of deal with Zambia over copper mine

Constance
Vedanta Resources, owned by Indian billionaire Anil Agarwal, said it has reached an “advanced stage” of executing agreements with the Zambian government over Konkola Copper Mines Plc assets that have been in provisional liquidation for about four years. “Vedanta is alive to the fact that the talks have taken a little longer than initially anticipated,” it said in a statement last week. “The company is firmly committed to the process.” The Zambian government placed Konkola, of which Vedanta owns 79.4%, into provisional liquidation in 2019, and since then has been… Read More Here
Zambia’s copper production seen falling to 14-year low 2 Mining in Zambia Copper 

Zambia’s copper production seen falling to 14-year low

Constance
Zambia’s copper output will fall by more than 10% this year to the lowest in 14 years in what would be a significant blow to the southern African country’s revenue and economic growth. Copper production, which accounts for more than 70% of export earnings, will plunge to 682,431 tons, the Ministry of Finance & National Planning said in a report this week. That would be the lowest level since 2009, and marks the third straight year of declining output after peaking in 2020, even as prices remain elevated for the… Read More Here
Equity Holding Showcases Congo's Mining Potential in Kenya-DRC Roadshow 3 Mining in DRC Cobalt Copper Events & Expos Gold 

Equity Holding Showcases Congo’s Mining Potential in Kenya-DRC Roadshow

Constance
As part of the Kenya-DRC Roadshow, the Equity Holding Group organized an investment promotion mission for the Democratic Republic of Congo, mobilizing all investors from several corners of the planet: United States, Dubai, United Kingdom and others. During a business lunch, the mining potential of the DRC was presented, this Wednesday, July 19, 2023, at the Hôtel du Fleuve in Kinshasa. According to the CEO of EquityBCDC, Célestin Mukeba, two mining giants have presented their success stories to encourage and encourage other investors to follow in their footsteps. “Generally, the… Read More Here
Zambia Electricity and Westland Power Sign Power Purchase Agreement 4 Mining in Zambia Electricity Energy 

Zambia Electricity and Westland Power Sign Power Purchase Agreement

Constance
Zambia electricity supply (ZESCO)ESCO Limited has signed a Power Purchase Agreement (PPA) with ACSG Westland Power Company Limited, which will see the latter invest in solar thermal projects across the country. The agreement was signed on 18 July 2023 at a ceremony held at ZESCO Head Office in Lusaka and officiated by the Minister of Energy, Hon. Eng. Peter Chibwe Kapala. ZESCO Managing Director, Eng. Victor Mapani said Zambia’s electricity supply industry needs to be demonopolized to allow many players on the market contribute towards meeting the current power supply… Read More Here
Gécamines Mining in DRC Cobalt Copper 

CMOC agrees to pay $800 million to end row with Congo’s Gecamines

Constance
China’s CMOC Group has agreed to pay Congo state mining firm Gecamines $800 million to end a dispute over its Tenke Fungurume Mining (TFM) operation in the country, the Chinese company said on Tuesday July18th. CMOC said in a statement it will start paying the settlement fee this year and complete payment by 2028. The Chinese mining company also said TFM will pay cumulatively at least $1.2 billion in dividends to Gecamines over the life of the project starting this year. “CMOC will further consolidate partnerships with Gecamines and expand… Read More Here
DRC and UAE Sign Historic Mining Agreement for 3Ts Minerals in Kivu Region 5 Mining in DRC Economy 

DRC and UAE Sign Historic Mining Agreement for 3Ts Minerals in Kivu Region

Constance
A mining agreement between the Democratic Republic of the Congo (DRC) and the United Arab Emirates (UAE) would see the exploitation of the 3Ts minerals (tantalum or coltan, tungsten, and tin) in the Kivu region of the nation. Monday’s signing ceremony between Primera Mining, an Emirati corporation donating almost $2 billion to the project, and state-owned enterprise Société aurifère du Kivu et du Maniema (Sakima SA), was observed by the president of Congo, Félix Tshisekedi. The United Arab Emirates’ Minister of State for Foreign Affairs, Sheilk Shakhboot Nahyan Al Nahyan,… Read More Here
Zambia’s Muntanga Uranium Project Increases Resources to 36.5 Mlb 6 Mining in Zambia 

Zambia’s Muntanga Uranium Project Increases Resources to 36.5 Mlb

Constance
Mineral resource company GoviEx Uranium has announced an increase in open-pit mineral resources at the company’s Muntanga uranium mine, located in southern Zambia. Comprising three mining permits, the Muntanga project contains five deposits: Dibbwi, Dibbwi East, Muntanga, Gwabi, and Njame. A 2023 updated Mineral Resource Estimate (MRE) shows constrained total pit resources to measure 36.5 million pounds (Mlb) of uranium, with the quality of the resource considerably higher than previous estimates. Of the total 36.5 Mlb of uranium equivalent, measured and indicated resources are shown to be 34 million tons… Read More Here
Zimbabwe: Contango Secures 20,000 tpm Coal Offtake Agreement 7 International Coal Energy 

Zimbabwe: Contango Secures 20,000 tpm Coal Offtake Agreement

Constance
Natural resource development company Contango Holdings has signed a new offtake agreement with global commodity marketing firm TransOre International FZE for the sale of coal from the Lubu project in Zimbabwe. Under the terms of the deal, Contango will supply TransOre with 20,000 tons of washed coal per month at US$120/ton, in line with the current processing capacity at the project. Offtake has the potential to be further expanded as the mine’s production capacity increases. Carl Esprey, CEO of Contango, said the contract with TransOre doubles the firm’s existing offtake… Read More Here
DRC and Angola Finally Reach Agreement on Oil Exploitation After 16 Years 8 Angola Mining in DRC Oil & Gas Petroleum 

DRC and Angola Finally Reach Agreement on Oil Exploitation After 16 Years

Constance
An agreement on the exploitation of oil, in the maritime zone of common interest (ZIC), was signed last Thursday, July 13 between the Democratic Republic of Congo and the Republic of Angola in Kinshasa, capital of the Democratic Republic of Congo. By signing this agreement 16 years after the Memorandum of Understanding of July 30, 2007, the two Ministers of Hydrocarbons Didier Budimbu and his counterpart from Angola Diamantino Pedro Azevedo have given concrete form to the will of two Heads of State of their respective countries. “My thanks go… Read More Here
Kibali Implements New Ten-Year Plan Amidst Rising Gold Production 9 Mining in DRC Gold 

Kibali Implements New Ten-Year Plan Amidst Rising Gold Production

Constance
Kibali, Africa’s largest gold mine, significantly increased production in the last quarter, in line with its growth plan, and is on track to meet its annual targets.  Also, the results of exploration operations show sufficient reserves to ensure the replacement of those depleted by this year’s operations. At a media briefing on Wednesday, July 5, at the Memling Hotel in Kinshasa, Barrick Chairman and CEO Mark Bristow stated that the mine, with a 10-year lifespan, is fully executing its business plan for the next decade. He confirmed that it continues… Read More Here

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