Constance - Copperbelt Katanga Mining

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The DRC nearly produced 600,000 tonnes of copper in the 1st quarter of 2023

July 4, 2023July 4, 2023 Constance

The mining industry in the Democratic Republic of Congo produced 595,142.92 tonnes of copper in the first quarter of 2023, according to the Ministry of Mines. Of the 595,142.92 tonnes of copper produced, mainly in the provinces of Haut-Katanga and Lualaba, 555,217.98 tonnes were exported from the Democratic Republic of Congo. Recall that in 2022, the Democratic Republic of the Congo produced more than 2.3 million tonnes of copper, which was a record production in the history of copper production in the DRC. Read More Here

Mining in DRC Cobalt Economy News in Brief

The DRC produced 21,170 tons of cobalt in the 1st quarter of 2023

July 4, 2023July 4, 2023 Constance

The Ministry of Mines says the Democratic Republic of Congo produced 21,170.43 tonnes of cobalt in the first quarter of 2023. According to data from the DRC Ministry of Mines, the entire volume produced in the first quarter of the year was exported abroad, 21,170.43 tons of cobalt. In the year 2022, the Democratic Republic of Congo had produced 115,371 tons of cobalt. Read More Here

Transport and Logistics International

US agency concludes assessment of Lobito Corridor

July 4, 2023July 4, 2023 Constance

Experts from the International Development Finance Corporation (DFC), a US government agency specializing in supporting private sector financial projects, met last week with the Board of Directors of the Port of Lobito, at the end of an assessment mission of two days to the employees of the Lobito Corridor, which included contacts with the Benguela Railway. The meeting between the United States (USA) mission, led by the director for Structured Financial Operations at the DFC, Nancy Rivera, and the Board of Directors of the Port of Lobito lasted two hours,… Read More Here

Transport and Logistics Angola Mining in DRC Mining in Zambia

Almost all roads lead to the Lobito Corridor

July 4, 2023July 4, 2023 Constance

It was only in 1931 that the first shipment of copper from Katanga arrived in Lobito, but the railroad that allowed to bring the riches from the then Belgian Congo, today the Democratic Republic of Congo, was born from a Portuguese law of 1899. At the head of the project was the Scotsman Robert Williams, who had been a friend of Cecil Rhodes and who understood the advantages of the Benguela Railway: for the Portuguese, it made it possible to link the Angolan coast to the Central Plateau and even… Read More Here

Mining in DRC Mining in Zambia News in Brief Transport and Logistics

Presidents of Zambia and DRC meet in Benguela

July 4, 2023July 4, 2023 Constance

The Presidents of Zambia, Hakainde Hichilema, and of the Democratic Republic of Congo, Félix Tshisekedi, have already arrived in the city of Benguela to witness the signing ceremony of the Contract for the Transfer of the Concession of Railway Services and Support Logistics for the Lobito Corridor, which is scheduled to take place today, July 4th. According to the agenda, following their visit to the Benguela Railway, the statesmen will also receive explanations on the functioning of the port infrastructure. Read More Here

Mining in Zambia Economy Transport and Logistics

Lobito Corridor Vital for Zambian Economy

July 4, 2023July 4, 2023 Constance

The Zambian consul in Moxico highlights the importance of the Lobito Corridor for Zambia’s economic development. He also mentions that Zambia plans to purchase new locomotives to improve passenger comfort and goods transportation. The consul expresses confidence in Angola’s political stability and security. Regarding the official transfer of the concession of rail services and logistics support for the Lobito Corridor, the consul, as the Zambian consul in Moxico, shares his positive views on the role of the Benguela Railway in economic development. When asked about the construction of the railway… Read More Here

Mining in DRC Economy

IMF grants the DRC a $203.3 million loan to bolster foreign exchange reserves

July 2, 2023July 2, 2023 Constance

The International Monetary Fund (IMF) has granted the Democratic Republic of the Congo a $203.3 million loan to increase the nation’s foreign exchange reserves, which have dropped to $4.5 billion and are now only enough to pay two months’ worth of imports. The loan is a component of the extended credit facility (ECF) agreement the DRC agreed with the multilateral lender in July 2021. Under the terms of the agreement, DRC will receive 1.066 special drawing rights (SDRs), or about $1.52 billion, by the year 2024. With the payment, the… Read More Here

Copper Mining in Zambia

Zambia’s Mopani Copper Mines losses deepen amid search for new investors

July 2, 2023July 2, 2023 Constance

Zambia’s Mopani Copper Mines posted a deeper financial loss last year and lower output, state owner ZCCM Investment Holdings (ZCCM.LZ) said. Its financial losses widened to $298 million from $74.2 million in 2021, ZCCM said in a financial report published late on Thursday June 27th. Copper output at the operations declined to 72,694 tons from 87,618 tons, impacted by a 45-day smelter maintenance shutdown, it said. Rothschild & Co, hired by the ZCCM last year to find new investors for Mopani, has shortlisted companies including China’s Zijin Mining Group (601899.SS) and Sibanye Stillwater (SSWJ.J) to acquire the… Read More Here

Mining in Zambia Copper Economy Gold Taxes

Local First Policy Drives Barrick’s Procurement Practices

July 2, 2023July 2, 2023 Constance

The Lumwana copper mine has purchased approximately $4.3 billion in goods and services from Zambian registered businesses since it went into production, in line with Barrick Gold Corporation’s (NYSE:GOLD)(TSX:ABX) local procurement and economic development practices. President and chief executive Mark Bristow said Lumwana’s local procurement expenditure in 2022 was $432 million, out of a total of $520 million, which represents 83% of the mine’s total procurement spend. Since 2019, when Barrick was reconstituted following its merger with Randgold Resources, local expenditure has increased year on year. Additionally, all Lumwana’s copper… Read More Here

Copper Exploration Mining in Zambia New Mining Projects

BEMETALS commences 2023 Copper Exploration program in Zambia

June 30, 2023June 30, 2023 Constance

The “Company” or “BeMetals” is pleased to announce commencement of its 2023 exploration program at the Pangeni Copper Project (“Pangeni” or the “Project”) in the Zambian Copperbelt. Results from core and aircore drilling during the previous program have been integrated into our geological interpretations to generate new and refined existing targets for testing this year. This year’s planned US$2 million exploration program will be pro rata funded by both BeMetals and the Japan Organization for Metals and Energy Security (“JOGMEC”). Highlights of recent PANGENI COPPER PROJECT CORE DRILLING RESULTS: G-Target:… Read More Here