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AfriTin Mining Begins Trading as Andrada Mining 1 International Battery Metals 

AfriTin Mining Begins Trading as Andrada Mining

Constance
AfriTin Mining has announced, further to its announcement of 5 January 2023, the Registrar of Companies in Guernsey has confirmed the name change from Afritin Mining to Andrada Mining. Accordingly, the change of name will take effect, and dealings under the new company name of Andrada Mining began at 08h 00 11.01.2023 As previously announced, the name Andrada reflects the company’s expanding lithium and tantalum resources alongside its existing tin production. The new name originates from José Bonifácio de Andrada e Silva, the Brazilian mineralogist and professor who first discovered petalite… Read More Here
British Companies to Invest $2 Billion in Zambia's Energy Industry 2 Energy Mining in Zambia 

British Companies to Invest $2 Billion in Zambia’s Energy Industry

Constance
Seven companies from the United Kingdom have committed to investing $2 billion to establish renewable energy projects in Zambia, which are expected to generate 2,000 megawatts of electricity. British High Commissioner to Zambia, NICHOLAS WOOLLEY, reported that the companies from the United Kingdom are currently carrying out feasibility studies and seeking regulatory approvals before proceeding with their projects. Mr. WOOLLEY revealed that the companies are planning to establish solar and wind energy projects in various regions of the country, which will produce power to be sold to the country’s Electricity… Read More Here
Panama Demands $375 Million Payment From First Quantum in contract Dispute For 2022. 3 International Copper 

Panama Demands $375 Million Payment From First Quantum in contract Dispute For 2022.

Constance
Panama’s Commerce Minister announced on Wednesday 11.01.2023 that Canadian mining company First Quantum Minerals is obligated to make a $375 million payment for its operations in 2022. The Minister also stated that the government has retained advisors to explore options if an agreement on the contract cannot be reached. The government of Panama and First Quantum have been in talks to establish a contract for the country’s largest mine since late 2021, following a ruling from the top court that the previous contract was unconstitutional. Fernando Alfaro, the Minister of… Read More Here
Ivanhoe Electric ties up with Saudi Arabia’s Ma’aden 4 International Battery Metals Energy 

Ivanhoe Electric ties up with Saudi Arabia’s Ma’aden

Constance
Ivanhoe Electric (NYSE America, TSX: IE), the latest endeavour of mining magnate Robert Friedland, is joining forces with Saudi Arabian miner Ma’aden to explore for metals considered key for the world’s energy transition. The companies are creating a 50/50 joint venture for such purpose that will run for five years, and may be extended up to ten years.  As part of the exploration deal, Ma’aden will invest $126.4 million in Ivanhoe Electric equity, which grants the Gulf’s largest miner a 9.9% in Ivanhoe Electric, which owns properties in Arizona, Utah and Montana, along with… Read More Here
Zambia Extends Electricity Rationing To Include Mining Firms 5 Electricity Energy Mining in Zambia 

Zambia Extends Electricity Rationing To Include Mining Firms

Constance
On Tuesday, 10.01.2023 the chairman of state-owned power utility Zambia Electricity Supply Cooperation (Zesco) announced that Zambia has begun rationing electricity to mining companies due to decreased power generation as a result of a significant decline in water levels in Lake Kariba. The Zambezi River Authority, responsible for managing the dam, reported that on Monday, 09.01.2023 the water levels in Lake Kariba were at a low of 1.66% of usable storage for the Kariba North Bank Power Station in Zambia and the Kariba South Bank Power Station on the Zimbabwean… Read More Here
Copper Prices Reach Six-month High At $8,711 Per ton 6 International Copper 

Copper Prices Reach Six-month High At $8,711 Per ton

Constance
As of January 9, 2023, the price of a tonne of copper for delivery in three months on the London Metal Exchange has reached a six-month high of $8,711. Market experts attribute this increase to market optimism, particularly in light of China’s recent reopening of its borders, as the country is the top consumer of copper. According to reports, for the last three years, transportation routes between mainland China, Hong Kong, and the rest of the world have been closed, as a result of the health policy put in place… Read More Here
DRC's Oil Sector Expects To Generate More Than USD 305.8 Million In Revenue In 2023 7 Oil & Gas Mining in DRC 

DRC’s Oil Sector Expects To Generate More Than USD 305.8 Million In Revenue In 2023

Constance
The Democratic Republic of Congo (DRC) government has assigned the task of generating revenue of around 615.4 billion Congolese Francs (CDF), equivalent to over 305.8 million US dollars, from oil producers to the Directorate General of Taxes (DGI) and the Directorate General of Administrative, Judicial, State and Participation Revenue (DGRAD) According to Document 4 of the Finance Law for the 2023 financial year relating to revenue-generating acts, these revenues are projected to show a growth rate of 55.8% compared to their level in the 2022 financial year, which was quantified… Read More Here
Mining Revenues For 2023 Projected To Surpass 10 Trillion Dollars In DRC 8 Mining in DRC Mining revenue 

Mining Revenues For 2023 Projected To Surpass 10 Trillion Dollars In DRC

Constance
The 2023 fiscal year’s Finance Law anticipates mining revenues to reach 10,887.9 billion Congolese Francs (CDF), equivalent to over 5.4 billion US dollars. Document 4 of the Finance Law for the 2023 financial year relating to revenue-generating acts indicates that these revenues have increased by 146.3% compared to their level in the 2022 financial year, which amounted to 4,419.9 billion Congolese Francs (CDF). The same document indicates that in the first half of the 2022 financial year, the financial authorities mobilized more than 5,376.4 billion Congolese Francs (CDF) from mining… Read More Here
EXPENSIVE BATTERY METALS 9 You got to know this Cobalt Lithium 

EXPENSIVE BATTERY METALS

Constance
The most expensive battery metals are generally considered to be lithium, cobalt, and nickel. Lithium is the lightest metal and the least dense solid element. It is used in batteries for portable electronic devices, as well as electric vehicles. The price of lithium has fluctuated in recent years, but it is generally considered to be one of the most expensive battery metals. Cobalt is a hard, lustrous, gray metal that is commonly used in rechargeable batteries for smartphones and electric vehicles. The price of cobalt has also fluctuated in recent… Read More Here
Nickel Market Faces New Shock As ‘Big Shot’ Boosts Metal Output 10 International Nickel 

Nickel Market Faces New Shock As ‘Big Shot’ Boosts Metal Output

Constance
The billionaire at the center of last year’s nickel short squeeze is planning a major shift in his production mix, in a move that could reshape global supply dynamics and inject fresh volatility into the battered nickel market. Xiang Guangda’s Tsingshan Holding Group Co. is seeking to profit from an unusually large premium in the price of refined nickel metal – the type that is deliverable on exchanges in London and Shanghai – over the intermediate forms that Tsingshan supplies for battery manufacturing, according to people familiar with the matter.… Read More Here

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