Constance - Copperbelt Katanga Mining

Written by Constance

DRC, Zambia, UN, Afreximbank to sign EV Battery precursor SEZ Agreement

March 20, 2023March 20, 2023 Constance

The signing of the Framework Agreement relating to the creation of Special Economic Zones dedicated to the production of precursors for batteries, batteries and electric vehicles between the Democratic Republic of Congo, Zambia, the United Nations Economic Commission for Africa and Afreximbank is scheduled for March 27, 2023 in Kinshasa. This signature will be followed by the launch of a pre-feasibility study. Which study will aim to design an implementation plan and an operational model for the creation and operation of the cross-border SEZ. It will also aim to identify the… Read More Here

International

Moody’s Raises Global Metals and Mining Outlook to Stable

March 20, 2023March 20, 2023 Constance

Ratings agency Moody’s Investors Service changed its global outlook for metals and mining from stable to negative as trading conditions improved slightly in the United States and Europe and the reopening of the Chinese economy supported demand. base metals, steel and coal. Despite the change in outlook, Moody’s maintained its 12-month price assumptions and medium-term sensitivity ranges for all commodities except coal. “We are changing the outlook for the sector from stable to negative as credit fundamentals will not deteriorate over our forecast period, but will remain volatile and in… Read More Here

Mining in DRC Contracts & tenders

DRC President Accedes to the Request of Revisiting Chinese contract

March 20, 2023March 20, 2023 Constance

The President of the Democratic Republic of Congo (DRC), Félix-Antoine Tshisekedi, says he is in favor of revisiting the collaboration agreement signed on April 22, 2008 between his country and the group of Chinese companies formed by China Airways Corporation and Synohydro . The Congolese Head of State, Félix Tshisekedi made this known during the 91st meeting of the Council of Ministers held on Friday March 17, 2023 in Kinshasa. Among the motivations that led to this position, Félix-Antoine Tshisekedi mentions cases of non-compliance with the provisions of the contract,… Read More Here

Mining in DRC Copper

DRC Govt holds a 20% direct stake in Ivanhoé Mines

March 19, 2023March 19, 2023 Constance

According to figures published on March 13, 2023 by Ivanhoé Mines, the direct participation of the Government of the Democratic Republic of Congo in the mining company is estimated at 20%. Indeed, Ivanhoe sold a 49.5% stake in Kamoa Holding Limited (Kamoa Holding) to Zijin Mining and a 1% stake in Kamoa Holding to private company Crystal River in December 2015. However, Kamoa Holding has an 80% stake in the project. Since the closing of the Zijin transaction, each shareholder has been required to fund expenses to Kamoa-Kakula in an… Read More Here

Copper Mining in DRC

DRC Govt thanks the Kamoa-Kakula Project, for Copper Production

March 19, 2023March 19, 2023 Constance

According to United States Geological Survey estimates, the Democratic Republic of the Congo produced an estimated 2.2 million tonnes of copper in fiscal year 2022. With this production, the country is now ranked the second largest copper producer in the world, tied with Peru. Indeed, United States Geological Survey informs that this achievement would not be possible without Kamoa-Kakula, the main copper mine of the fastest growing country on the planet. In addition, the official report published in March 2023 by Ivanhoé Mines indicates that production from the Kamoa-Kakula copper… Read More Here

Copper International

Glencore CEO says his company is cheapest way to benefit from Copper price boom

March 19, 2023March 19, 2023 Constance

Glencore Plc boss Gary Nagle said his company is the cheapest way to buy exposure to a coming copper boom as he predicted a renewed spree of dealmaking in the mining industry. The mining industry had largely turned its back on big-ticket deals after a series of disastrous transactions at the height of the last commodity boom, but a looming shortage of metal needed for the green energy transition is likely to drive a new wave of consolidation, Nagle said in an interview last week. Larger rivals BHP Group and… Read More Here

Copper International

First Quantum resumes operations at Panama Copper Mine

March 19, 2023March 19, 2023 Constance

First Quantum Minerals, the operator of the Cobre Panama mine, has resumed operations to normal levels at the mine, gold-focused royalty and streaming company Franco-Nevada Corp said last week Franco-Nevada has contributed a total of $1.36 billion to the construction of Cobre Panama and the mine accounted for 18% of the company’s revenue in 2021. Copper miner First Quantum owns a 90% interest in the mine through its unit Minera Panama SA (MPSA). First Quantum had suspended ore processing operations at the mine on Feb. 23 after a Panama government… Read More Here

Copper International

Ivanhoe Mines posts near tenfold profit Increase in 2022

March 15, 2023March 15, 2023 Constance

Shares of Ivanhoe Mines rallied on Tuesday 14th March after posting record highs in revenue and profit in 2022. The stock was up up 2.5% as of 11:30 Eastern Time in Toronto, valuing the company at C$13.9 billion ($10.1bn). On Monday, the southern Africa-focused miner announced its financial results for the year ended December 31, 2022, notching a record profit of $434 million, which represents a near ten-fold increase over the $45 million recorded in 2021. Its recognized revenue of $2.15 billion, operating profit of $1.27 billion and EBITDA of $1.39… Read More Here

International Electricity

South African Mining output falls for 12th straight month amid Power Supply cuts

March 15, 2023March 15, 2023 Constance

Power curtailments implemented by state-owned utility Eskom was mostly behind a 1.9% year-on-year decline in South African mining production in January, said BusinessLive. Platinum group metals (PGMs) and diamonds were the main drags on the overall output, the publication said citing a Stats SA statement on yesterday, 14th March. This was the 12th consecutive month of year-on-year decline in the mining sector which is a critical foreign exchange earner for South Africa and a major employer.PGMs and diamonds fell 15.2% and 15.5% respectively. Energy-intensive users such as miners have an arrangement… Read More Here

Mining in DRC Battery Metals

China’s Lithium Dominance looms as DRC Mining delays continue

March 15, 2023March 15, 2023 Constance

The Democratic Republic of Congo is full of large reserves of lithium in its basement but not yet in a state of exploitation. Australia’s AVZ Mineral has a major lithium mining project in Manono, Tanganyika province, which could start this year after several months of exploration. However, while the global industry swears by the energy transition, lithium, like other metals in electric batteries, is coveted. The United States, China and Australia are seeking to control the market for this very strategic metal for the energy transition. while, having no technology, China’s efforts to… Read More Here