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US Firm Commits Billions to Establish Mineral Refineries in Zambia

August 13, 2023August 13, 2023 Constance

A prominent American corporation, Critical Resources Development, has unveiled ambitious plans to invest a substantial sum exceeding ten billion US dollars in the establishment of three advanced mineral and Rare Earth element refineries within Zambia. These state-of-the-art refineries are slated to be strategically positioned within Multi-Facility Economic Zones situated across the Copperbelt region’s central and northern provinces. In a recent interaction with local traditional leaders from the Copperbelt area, the President of Critical Resources Development, Chris Robinson, articulated the company’s commitment to generating significant economic opportunities. Robinson highlighted that the… Read More Here

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UK and Zambia Forge $3.7bn Clean Energy and Mineral Partnership

August 6, 2023August 6, 2023 Constance

The British Government has agreed a partnership with Zambia covering clean energy and critical mineral supply worth more than $3.7bn (£2.91bn). Under the clean energy and green investment partnership, the UK will aim to generate $3.1bn of private sector investment for the Zambian mining and renewable energy industries. A further $600m of funding will come in the form of UK Government-backed investments. Approximately 70% of Zambia’s export earnings come from mining. In 2022, Zambia was the world’s eighth-largest copper producer, and second in Africa. In the same year, it was also the world’s 13th-largest… Read More Here

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US Department of Energy Includes Copper in the List of Critical Minerals

August 6, 2023August 6, 2023 Constance

The U.S. Department of Energy (DOE) officially added copper to its list of critical materials last week, marking the first time a U.S. government agency has included copper on one of its official “critical” lists. like the European Union, Japan, India, Canada and China. The Critical Materials Assessment 2023, which rated materials based on their criticality to global clean energy technology supply chains, focuses on key materials at high risk of supply disruption that are part of integral part of clean energy technologies. The DOE Critical Materials List will inform… Read More Here

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Divergent Policies in Zambia and Zimbabwe: Critical Minerals to Rescue?

July 31, 2023July 31, 2023 Constance

In late 2022, Lake Kariba, the world’s largest dam reservoir, experienced record-low water levels, leading Zimbabwe to halt electricity generation at the Kariba Dam’s South Power Station, while neighboring Zambia faced water rationing during an economic crisis. Both countries possess significant mineral reserves that could contribute to global energy transitions. However, they are grappling with climatological shifts that are destabilizing Southern African states, with floods, droughts, and cyclones becoming frequent and devastating events. The reliance on hydropower, which constitutes over 20 percent of the region’s energy mix, makes the impact… Read More Here

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Zambia and Russia Explore Collaboration in Electric Vehicle Battery Production

July 31, 2023July 31, 2023 Constance

In a groundbreaking move aimed at bolstering the electric vehicle (EV) industry, the Russian motor vehicle sector is actively seeking partnerships with Zambia to manufacture advanced EV batteries. The Russian President, Vladimir Putin, recently expressed his country’s interest in establishing joint ventures with Zambia to facilitate the production of cutting-edge EV batteries. Both nations have enjoyed a long history of warm bilateral relations, making this collaboration a natural progression. The announcement was made during the Russia-Africa Economic and Humanitarian Forum in Saint Petersburg, Russia, where Zambian Foreign Affairs and International… Read More Here

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Africa’s Rising Role in the Global Energy Transition: Striving for Sustainable Partnerships

July 26, 2023July 26, 2023 Constance

As global leaders unite to combat climate change and steer the world towards cleaner energy sources, the significance of critical minerals in the energy transition is becoming increasingly apparent. African countries, grappling with the consequences of climate change, are emerging as pivotal players in reducing global carbon emissions while possessing abundant reserves of vital minerals required for the shift. The African continent is a treasure trove of critical minerals essential for advancing the energy transition. These minerals encompass copper, crucial for power lines; cobalt, nickel, lithium, and graphite, necessary for… Read More Here

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Global Cobalt Prices Surge to $31,549.00 USD per Tonne

July 14, 2023July 14, 2023 Constance

After almost a year of decline on the international markets, the cobalt market is again showing firmness, inform the specialists in the field. According to projections made by experts from the National Commission of Mercurial Prices of the Ministry of Foreign Trade, cobalt should register a significant price increase on world markets during the period from July 10 to 15, 2023. According to the figures put forward by Congolese government experts, cobalt should trade at 31,549.00 USD per tonne this week against 28,840.00 USD a week earlier, i.e. a positive… Read More Here

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Sino-US Rivalry Intensifies for DRC’s Strategic Minerals

July 14, 2023July 14, 2023 Constance

The very rare riches of the Democratic Republic of Congo’s subsoil, cobalt as a bonus, are at the heart of the opposition of interests between the United States and China in a world in the midst of a race to control strategic minerals for the energetic transition. A bill requiring the establishment of a U.S. national strategy to secure critical mineral supply chains from the Democratic Republic of the Congo was introduced Tuesday, July 11, 2023, in the U.S. House of Representatives, by John James , president of the Africa… Read More Here

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Global Demand for Critical Minerals Expected to More Than Double by 2030

July 13, 2023July 13, 2023 Constance

It just so happens that all of these critical minerals useful for the energy transition that global industry needs are in the Democratic Republic of Congo. A report published on July 11 by the International Energy Agency (IEA) notes that by 2030, the global demand for critical minerals necessary for the energy transition such as cobalt, copper, lithium, nickel and rare earth elements should more than double. Entitled “Critical Minerals Market Review 2023”, the report specifies that the demand for these minerals used in the manufacture of solar panels, wind… Read More Here

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Critical mineral projects set to catch up with projected boom in demand

July 13, 2023July 13, 2023 Constance

SUPPLY of critical metals is catching up with an anticipated boom in demand following a 50% jump in investment over the past two years, said Bloomberg News. Citing a report by the International Energy Agency (IEA), the newswire said critical minerals were therefore less likely to stymie the transition to a low carbon economy. “We look at the situation after raising alarm bells, and we are of the view that governments and companies have responded to this rather challenging situation,” Fatih Birol, the head of the IEA, said in an interview… Read More Here