Constance - Copperbelt Katanga Mining

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Mali Seizes Gold Stock at Barrick’s Loulo-Gounkoto Amid Contract Dispute

January 13, 2025January 13, 2025 Constance0 comment

Mali’s government has initiated the enforcement of a provisional order to seize gold stock at Barrick Gold’s Loulo-Gounkoto mining complex, according to a company memo to Malian staff. Barrick warned that this escalating dispute over mining rules could lead to a temporary suspension of operations at the site. The move highlights Mali’s military-led government’s push for greater control and revenue share from foreign mining companies. The conflict stems from new mining regulations introduced as part of broader efforts to renegotiate agreements with Western miners. “A provisional order to seize our… Read More Here

Mining in Zambia Copper Corporate News Electricity

Jubilee Metals Faces Copper Production Setback in Zambia Due to Power Constraints

January 13, 2025January 13, 2025 Constance0 comment

Jubilee Metals Group, a diversified metals producer listed on Aim and AltX, reported a shortfall in copper production at its Roan operation in Zambia due to power constraints. In its operational update for the six months ending December 31, which marks the first half of its 2025 financial year, the company revealed that copper production in Zambia totaled 1,454 tonnes, down from 1,683 tonnes during the same period in the 2024 financial year. The figure also fell short of the revised target of 1,800 tonnes. Despite this, Jubilee reported a… Read More Here

International

Mali to Receive $1.2 Billion from Miners in First Quarter Following Mining Overhaul

January 13, 2025January 13, 2025 Constance0 comment

Mali is set to receive 750 billion CFA francs ($1.2 billion) from miners in the first quarter of this year, following a significant overhaul of its mining sector. In late December, Mali received 500 billion CFA francs from mining companies after successful negotiations, Finance Minister Alousseni Sanou told Parliament. The total amount is expected by March 31, according to Sanou’s statement to Mali’s National Transition Council, as reported in minutes from the late December meeting, which were aired by the state broadcaster ORTM. Mali’s military-led government has taken a tough… Read More Here

International Uranium

Namibia Seeks Chinese Investment to Enhance Uranium Sector and Clean Energy Efforts

January 13, 2025January 13, 2025 Constance0 comment

Namibia, one of the world’s largest uranium producers, is actively seeking investment from China in nuclear power to strengthen its role in the global transition to clean energy. “We aim to add value to our uranium for the peaceful development of nuclear energy,” said President Nangolo Mbumba during a meeting on Monday with Chinese Foreign Minister Wang Yi, who is on a week-long tour of Africa. Yi’s visit underscores China’s efforts to expand its influence in Africa, aiming to outpace the United States by offering better trade deals, more investment… Read More Here

Mining in Zambia Transport and Logistics

Zambia Railways Crucial to Copper Transportation

January 13, 2025January 13, 2025 Constance0 comment

Copperbelt Province Minister Elisha Matambo has emphasized the critical role of Zambia Railways Limited in transporting the projected three million tonnes of copper. He highlighted that the revitalization of the mining sector in the province requires the active involvement of Zambia Railways in the copper transportation process. Mr. Matambo reassured that the government will continue to support the company, recognizing it as a key player in achieving the country’s copper production goals. Meanwhile, newly appointed Zambia Railways Managing Director, Cuthbert Malindi, affirmed the company’s commitment to aligning with the government’s… Read More Here

Mining in Zambia Copper Economy

Chinese Investments Strengthen Copperbelt Mining Sector and Economic Growth in Zambia

January 13, 2025January 13, 2025 Constance0 comment

Copperbelt Minister Elisha Matambo has highlighted a surge in Chinese investment in the province’s mining sector, which has significantly boosted economic activity. Speaking at a Rongxing Mining Company event in Kitwe honoring employees in 2024, Mr. Matambo acknowledged the positive impact of Chinese investments on the Copperbelt’s economy. He urged mining companies in the region to prioritize fair wages and ensure decent working conditions for their employees. Kalulushi District Commissioner Kelly Jibinga also commended Rongxing Mining Company for its contributions to the district, emphasizing the importance of partnerships that foster… Read More Here

Mining in Zambia Copper Economy

Zambia to Benefit from Rising Copper Prices in 2025

January 12, 2025January 12, 2025 Constance0 comment

Senior Economist Andrew Nsunge believes Zambia stands to benefit significantly from the anticipated rise in copper prices in 2025. Mr. Nsunge emphasized the need for Zambian businesses to increase their supply to the mining sector, enabling more indigenous Zambians to capitalize on the growth. He also suggested that Zambians could benefit further by becoming more involved in copper transportation. In a phone interview with ZNBC News, Mr. Nsunge stressed the importance of implementing and enforcing policies that support the participation of local businesses in the mining industry. He attributed the… Read More Here

Mining in DRC Mining in Zambia Transport and Logistics

Zambia and DRC to Clear 500 Trucks Daily to Ease Kasumbalesa Border Congestion

January 12, 2025January 20, 2025 Constance0 comment

Zambia and the Democratic Republic of Congo (DRC) have agreed to allow the clearance of at least 500 trucks per day to address the congestion at the Kasumbalesa border on the Copperbelt. This decision comes in response to the over 3,000 trucks marooned on the Zambian side of the border. Katanga Governor Jacques Katwe announced that another measure to alleviate the situation is extending the working hours for customs officers, from six hours to 20 hours, at the Kasumbalesa, Mokambo, and Sakanya border posts. Speaking at a meeting in Chililabombwe,… Read More Here

International Corporate News

Vedanta Secures $300 Million in Loans to Strengthen Financial Position

January 12, 2025January 12, 2025 Constance0 comment

Vedanta Resources’ parent company announced on Friday that it has secured commitments from Barclays, First Abu Dhabi Bank, and Mashreq for a $300 million loan, with a tenor of three years and three months. The funds will be used to refinance outstanding 2024 and 2026 bonds and cover other debt servicing obligations, according to Vedanta’s filing with the stock exchange. The company is seeking to expand the deal and is in advanced talks with other banks to secure an additional $200 million in loans. Last year, rating agencies S&P Global… Read More Here

International Mining Equipment

Caterpillar Marks 100 Years of Innovation and Growth with Global Celebrations

January 12, 2025January 12, 2025 Constance0 comment

NYSE-listed Caterpillar is celebrating its 100-year anniversary in 2025, marking a century since the merger of Holt Manufacturing and CL Best Tractor on April 15, 1925, which formed Caterpillar Tractor Co. Over the past 100 years, Caterpillar has evolved from its first track-type tractor, designed to pull combine harvesters in northern California, to offering modern autonomous construction and mining equipment, as well as engines used in various industries worldwide. Caterpillar products and services have played a significant role in completing thousands of industrial, construction, and infrastructure projects globally. “Our success… Read More Here