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FQM sets Feb. 23 as Date to Halt Panama Operations amid Dispute 1 Copper International 

FQM sets Feb. 23 as Date to Halt Panama Operations amid Dispute

Constance
Canadian miner First Quantum Minerals said it may halt operations in Panama on Feb. 23 as it approaches a “critical point” of copper storage capacity after the government suspended its loading permissions at a port. The Vancouver-based company said Panama’s maritime authority halted its loading operations last month over allegations its scale was improperly calibrated. “Our team is making all efforts to create additional storage space, but we have run out of available options,” an internal memo sent to employees Friday and seen by Reuters said, requesting the government intervene and allow First Quantum’s… Read More Here
36 Diamonds Recovered at Lulo kimberlite L164 and kimberlite L056 samples 2 Diamond Exploration International 

36 Diamonds Recovered at Lulo kimberlite L164 and kimberlite L056 samples

Constance
Lucapa Diamond Company and its project Lulo partners, Endiama and Rosas & Petalas, have recovered 23 diamonds from a second sample from kimberlite L164 and 13 diamonds from kimberlite L056. Lulo kimberlite bulk sample KBS/164/02, totalling 365 m3 of kimberlite material was processed through the Lulo Kimberlite Bulk Sample Plant, yielding 16.32 carats at a recovered grade of 4.47 cphm3, with the largest diamond recovered weighing 2.38 carats. This is the highest grade yet recovered from a Lulo kimberlite bulk sample and is very encouraging for an early stage, small sample.… Read More Here
DRC's Chamber of Mines collaborates with FEC & ARSP to Provide Strong Support for Entrepreneurs 3 Mining in DRC 

DRC’s Chamber of Mines collaborates with FEC & ARSP to Provide Strong Support for Entrepreneurs

Constance
The members of the Chamber of Mines of the Federation of Companies of Congo (FEC), led by Louis Watum, were received, on Wednesday February 15, 2023, by the Director General of the Regulatory Authority for Subcontracting in the private sector (ARSP), Miguel Kashal Katemb. On the menu of their exchanges, the methods of direct collaboration and exchange of information between the Chamber of Mines and the ARSP. Satisfied with this meeting, Louis Watum, President of the Chamber of Mines of the FEC believes that happy prospects are envisaged between the… Read More Here
NORDIC DIPLOMATS FOLLOW-UP ON CUTTING-EDGE CONTRIBUTIONS TO FQM 4 Copper Mining in Zambia 

NORDIC DIPLOMATS FOLLOW-UP ON CUTTING-EDGE CONTRIBUTIONS TO FQM

Constance
Diplomats from Sweden and Finland recently visited First Quantum Minerals’ two mines in Zambia’s North-Western Province to gain an understanding of the advanced technology used to extract copper from the area. The delegation, which included Finnish Ambassador to Zambia Saana Halinen and Swedish Ambassador to Zambia Johan Hallenborg, visited FQM’s Sentinel Mine in Kalumbila and Kansanshi Mine in Solwezi. The visit was organized to showcase the success of the partnership between Zambia and the two countries in the mining industry, and to highlight FQM’s contribution to the sector. Both Finland… Read More Here
DRC Seeks Additional $17bln Financing in Infrastructure From China Deal 5 Mining in DRC Cobalt Copper 

DRC Seeks Additional $17bln Financing in Infrastructure From China Deal

Constance
The Inspection Generale des Finances (IGF), Congo’s state auditor, has demanded an increase in investment of $17 billion from Chinese investors in a 2008 infrastructure-for-minerals deal, which is currently being renegotiated. The deal was struck by President Felix Tshisekedi’s predecessor, Joseph Kabila, and involved Sinohydro Corp and China Railway Group Limited building roads and hospitals in exchange for a 68% stake in Sicomines, a cobalt and copper joint venture with Congo’s state mining company, Gecamines. The Chinese investors had committed to spending $3 billion on infrastructure projects, but the IGF… Read More Here
Barrick eyes Nevada Gold Mines as Newmont ramps up deal pressure 6 Gold International 

Barrick eyes Nevada Gold Mines as Newmont ramps up deal pressure

Constance
Canada’s Barrick Gold Corp would be open to taking over Newmont’s stake in its Nevada Gold Mines joint venture, CEO Mark Bristow said on Wednesday, after Newmont’s $16.9 billion bid for Newcrest ramped up pressure on gold miners to do deals. Bristow though distanced himself from rival Newmont’s M&A push on Wednesday and highlighted Barrick’s plan to grow through exploration rather than acquisitions. Shares of Barrick Gold were trading 4% down at the Toronto Stock Exchange. “We can’t see much strategic benefit in just getting big for bigness sake, and we don’t… Read More Here
Copper Output in Zambia for 2022 Falls Below Projected Targets 7 Mining in Zambia Copper 

Copper Output in Zambia for 2022 Falls Below Projected Targets

Constance
Zambia’s copper production for the year has fallen by 5% to around 760,000 tonnes, which is not in line with the New Dawn Administration’s target to increase copper production to over 3 million tonnes in the next 10 years. This decrease was anticipated due to ongoing production challenges and difficulties sourcing short-term funding at both Mopani Copper Mines (MCM) and Konkola Copper Mines (KCM), which have prevented these companies from reaching their full production potential. The total copper produced in Zambia in 2022 was 763,287 metric tonnes, a decrease from… Read More Here
Euro Africa restarts operations at the Kalengwa Copper Mines, Worth $135m 8 Copper Mining in Zambia 

Euro Africa restarts operations at the Kalengwa Copper Mines, Worth $135m

Constance
The Chairperson of Mufumbwe District Council, Lemmy Namukuka, has confirmed that Euro Africa Kalengwa Mines Limited has begun construction of a processing plant at the Kalengwa copper mine site, following the granting of a mining license. The license had been the subject of a legal dispute between Kalengwa Processing Zone Limited and Euro Africa Kalengwa Mines Limited, with the latter emerging as the eventual license holder. The mine is expected to produce 15,000 tons of copper annually, potentially adding $135 million to Zambia’s forex earnings if proceeds are banked locally.… Read More Here
CEC Commissions 34 MW Solar Power Plant in Zambia 9 Mining in Zambia Electricity Energy 

CEC Commissions 34 MW Solar Power Plant in Zambia

Constance
Zambia’s Copperbelt Energy Corporation (CEC) has commissioned a 34 MW solar power plant in Kitwe, the country’s first large-scale solar photovoltaic facility. The 34 MW photovoltaic (PV) power plant is CEC’s first step into renewable energy, but with an aim to achieve 300 MW of renewable energy resources over the next four years, it is certainly not the last. The solar plant covers a total area of approximately 30 hectares and includes 61,300 solar PV modules, 150 inverters, six transformer stations and 4 km of transmission line. The project, which… Read More Here
Barrick Maintains Industry Lead With Increased Reserves and Resources Driving Growth 10 Gold International 

Barrick Maintains Industry Lead With Increased Reserves and Resources Driving Growth

Constance
 Barrick’s strategy of investing in organic growth through exploration and mineral resource management more than replaced gold reserves for the second straight year and significantly increased copper resources year on year, providing further support for both the company’s 10-year production forecast and its growth profile. Announcing Barrick’s results for the 2022 year and Q4, president and chief executive Mark Bristow said the company had always believed that discovering ounces was better than buying them at a premium in a sector where reserves and resources were diminishing. “Our continued success in… Read More Here

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