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Zambia’s Mining Sector Sees Promising Turnaround with Policy-Driven Resilience 1

Zambia’s mining sector has shown a promising turnaround, with economic expert Kelvin Chisanga commending its resilience and policy-driven improvements. Reflecting on the sector’s performance, Chisanga highlighted that despite a 20% decline in production in 2023, the 12% growth recorded in 2024 demonstrates the effectiveness of government policies and the commitment of key stakeholders. “The positive growth can largely be attributed to the government’s efforts to resolve legacy issues at Mopani Copper Mine and Konkola Copper Mine,” Chisanga stated. He acknowledged the significant contributions of major players such as Barrick Gold… Read More Here

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Zambia’s Mines Minister Highlights Strong Growth in Mining Sector

January 23, 2025January 23, 2025 Constance0 comment

Zambia’s mining sector is experiencing significant growth, as Minister of Mines Paul Kabuswe highlighted during a press conference on January 22, 2025. The sector’s robust performance, driven by increased copper production and enhanced employment figures, is contributing to economic growth and local development. Copper production rose by 12% in 2024, with notable contributions from Lumwana and First Quantum Mines. Mopani Copper Mines also saw impressive results, including a workforce increase from 10,765 to 12,684 employees, alongside a rise in copper grades from 1.68% to 2.21%. As a result, production surged… Read More Here

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Zambia Pins Economic Revival Hopes on Mining Sector Amid Drought Challenges

January 22, 2025January 22, 2025 Constance0 comment

Zambia is looking to the mining sector for an economic recovery after facing a sharp slowdown in growth due to the worst drought in living memory, according to Finance Minister Situmbeko Musokotwane. Speaking at an event discussing the economic outlook, Musokotwane highlighted that new mines were set to open soon, and existing mines were reinvesting to boost production. “If all goes according to plan, 2025 should mark the start of this revival, and it will strengthen year after year,” he said. The government estimates that copper production in 2023 exceeded… Read More Here

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Reko Diq Copper and Gold Project to Boost Pakistan’s Economy with $74 Billion in Cash Flow

January 20, 2025January 20, 2025 Constance0 comment

The Reko Diq copper and gold project in Pakistan is expected to generate approximately $74 billion in free cash flow over the next 37 years, according to Barrick Gold CEO Mark Bristow. The project, which Barrick co-owns with the governments of Pakistan and Balochistan, is considered one of the world’s largest underdeveloped copper-gold deposits, and its development is expected to have a significant positive impact on Pakistan’s struggling economy. Barrick holds a 50% stake in the mine, with the remaining ownership split between the federal and provincial governments of Pakistan.… Read More Here

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USA Invests $2 Million to Promote Responsible Artisanal Mining in DRC

January 20, 2025January 20, 2025 Constance0 comment

The United States has announced a $2 million investment aimed at supporting responsible artisanal copper and cobalt mining in the Democratic Republic of Congo (DRC). The U.S. government’s initiative, detailed in a press release by the United States Agency for International Development (USAID) on January 16, seeks to promote ethical mining practices of these essential metals, which play a crucial role in the global energy transition. The U.S. commitment aligns with the Congolese government’s efforts to reform the artisanal mining sector. USAID funding will support the state-owned company EGC in… Read More Here

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DRC Seeks Mining Partners to Diversify Away from Chinese Dominance

January 19, 2025January 19, 2025 Constance0 comment

The Democratic Republic of Congo (DRC), the world’s top cobalt producer and a key source of copper and other critical minerals, is actively seeking new mining investors to diversify its partnerships and reduce heavy reliance on Chinese companies. This includes pursuing investments from Saudi Arabia, the European Union, and India, according to Marcellin Paluku, Deputy Cabinet Director in the Ministry of Mines. Chinese companies, many of them state-backed, have emerged as the largest investors in the DRC in recent years, significantly expanding their footprint in the country’s mining sector. CMOC… Read More Here

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South Kivu’s Mineral Wealth Lost to Illicit Mining, Earning Under $1 Million Annually

January 19, 2025January 19, 2025 Constance0 comment

South Kivu, a province rich in copper, cobalt, lithium, and other valuable minerals, generates less than $1 million annually due to widespread illicit mining activities. This stark contrast between the province’s mineral potential and its economic output was highlighted by Governor Jean-Jacques Purusi during a recent meeting with local stakeholders. Despite its mineral wealth, South Kivu remains one of the poorest regions in the Democratic Republic of Congo (DRC), a situation that Governor Purusi attributes to the illegal exploitation of its resources. “The mining sector does not even generate $1… Read More Here

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FQM ANNOUNCES STRONG 2024 ZAMBIAN PRODUCTION RESULTS AND FOCUS ON SUSTAINABLE GROWTH

January 19, 2025January 19, 2025 Constance0 comment

First Quantum Minerals (FQM) has announced a strong performance from its Zambian operations in 2024, with strong copper, gold, and nickel production. The company also reaffirmed its focus on sustainability and operational resilience, with the S3 Expansion project on track for completion in mid-2025. The mining firm achieved annual copper production of 431 thousand tonnes (“kt”) in 2024, exceeding the guidance range of 400 to 420kt. Kansanshi achieved its highest copper and gold production since 2021 and 2022, respectively, predominately driven by higher grades. Sentinel’s increased copper production reflected higher… Read More Here

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ZAMBIA AND SAUDI ARABIA SIGN MOU OF COOPERATION IN MINERAL RESOURCES

January 17, 2025January 17, 2025 Constance0 comment

Minister of Mines and Mineral Resources, Hon. Paul C. Kabuswe, MP, and His Excellency Mr. Bandar bin Ibrahim Al- Khorayef, Minister of Industry and Mineral Resources of the Kingdom of Saudi Arabia, have signed a Memorandum of Understanding (MoU) of Cooperation in Mineral Resources in the Mining Sector. The MoU was signed in Riyadh, Kingdom of Saudi Arabia, on the 14 January 2025, on the sidelines of the 2025 Future Minerals Forum that was taking place from 14th to 16th January. The MoU aims to foster collaboration between the two… Read More Here

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Copper Production Declines in Peru as Antamina Mine Output Drops

January 17, 2025January 17, 2025 Constance0 comment

Peru, the world’s third-largest copper producer, reported a decline in copper output for November, primarily due to reduced production at the Antamina mine. According to the Ministry of Energy and Mines, national copper production fell 4.6% year-over-year in November, reaching 241,883 metric tons. Cumulative output for 2024 through November stood at 2.47 million tons, representing a 1.1% decline compared to the same period in 2023. The drop in November’s output was significantly impacted by a 31% decrease in production from the Antamina mine. The mine, jointly operated by Glencore, BHP,… Read More Here