Copper - Copperbelt Katanga Mining

FQM to present initial preservation plan for Panama copper mine

January 14, 2024January 14, 2024 Constance

The Panama unit of Canadian miner First Quantum Minerals said Wednesday that it will present to government officials the first phase of its mine preservation plan on Jan 16, according to a statement, after its project was ordered closed last year. The Cobre Panama project, one of the world’s largest open-pit copper mines, was forced to shut down after Panama’s top court ruled that its contract was unconstitutional, following nationwide protests opposed to its continued operation. The plan should “ensure physical and chemical stability related to mining facilities and environmental… Read More Here

Mining in DRC Copper

Ivanhoe Mines President Highlights Strategic Approach Amid Rising Interest in DRC Mining Success

January 14, 2024January 14, 2024 Constance

Ivanhoe Mines is cautious about entering new partnerships for discoveries in the Democratic Republic of Congo (DRC), despite heightened interest from industry peers, according to President Marna Cloete. The company, known for its success with the Kamoa Kakula joint venture, aims to avoid dilution and maintain control over its projects. While Ivanhoe Mines prepares for the second-quarter production start at its Kipushi zinc mine and plans to expand output at Kamoa Kakula, the company is actively exploring the Western Forelands region in the DRC’s south. Drill results from the Kitoko… Read More Here

Mining in DRC Copper Electricity Mining in Zambia

Affirma Capital Invests $145 Million to Boost Power Supply for Copper Mines in DRC and Zambia

January 11, 2024January 11, 2024 Constance

(Agence Ecofin) – The Democratic Republic of Congo (DRC) and Zambia are the two leading copper producers in Africa. While the electricity supply for mines remains a challenge in these two countries, the investment announced by Affirma Capital can contribute to improving the situation. On January 8, Affirma Capital, the former private equity branch of Standard Bank, announced a $145 million investment in the Copperbelt Energy Corporation (CEC). With a $50 million contribution from Standard Bank of South Africa, this investment will be used to enhance access to electricity for… Read More Here

Mining in Zambia Copper

FQM Affirms Continued Ownership of Zambian Mines, Dismisses Sale Speculations

January 9, 2024January 9, 2024 Constance

First Quantum Minerals (FQM), centered on Zambia, has refuted claims of its intention to sell any share of its copper mines within the country. FQM boasts an 80% ownership of the Kansanshi copper mine and smelter in Solwezi, alongside complete ownership of the Sentinel copper and Enterprise nickel mines located in the Kalumbila district. In response to what it labels as “baseless rumors,” the company clarified that it has no ongoing discussions with Chinese State-owned enterprise Jiangxi Copper Corporation, or any other entity, regarding the sale of its Zambian operations.… Read More Here

Copper Mining in DRC Transport and Logistics

Delayed Copper Ore Export Sparks Lobito’s Railways Interest

January 9, 2024January 9, 2024 Constance

The planned export of 960 tons of raw copper ore from the Kolwezi region in the Democratic Republic of Congo (DRC) faced a delay, shifting its scheduled start from the 8th to the 18th of this month. Artur Silva, the Commercial Director of Lobito Atlantic Railway (LAR), provided this update. Silva didn’t offer specific reasons for the shipment date change or the cargo’s final destination, mentioning that the copper was being bagged at the Multipurpose Terminal of the Port of Lobito before being containerized. He highlighted that the upcoming shipment… Read More Here

Copper Mining in DRC

Ivanhoe Mines Provides 2023 Production Results and 2024 Production Guidance for the Kamoa-Kakula Copper Complex

January 8, 2024January 8, 2024 Constance

.Kamoa-Kakula produced 393,551 tonnes of copper in concentrate in 2023, within guidance .Year-over-year copper production increased by 18% .Kamoa-Kakula sets 2024 production guidance at between 440,000 and 490,000 tonnes of copper, with Phase 3 concentrator ahead of schedule for completion in Q3 2024 .Daily milling record achieved of 31,084 tonnes by Phase 1 and 2 concentrators of ore on January 1, 2024 .Kamoa-Kakula’s 2024 cash cost and capital expenditure guidance will be included in 2023 year-end financial results on February 26, 2024 .Kamoa Copper’s outstanding growth profile aligns with first-class… Read More Here

Mining in Zambia Copper

First Quantum Considers Sale of Zambian Mines Amid Financial Strain

January 6, 2024January 6, 2024 Constance

Canadian mining company First Quantum Minerals (TSX: FM) is reportedly exploring the sale of a stake in its Zambian copper mines to alleviate financial strain following the enforced closure of its major copper mine in Panama. Rumors suggest that First Quantum Minerals (FM.TO) is in discussions with the Chinese state-owned Jiangxi Copper Corp regarding the potential sale of its Zambian copper assets to stabilize its financial standing. However, specifics of the deal are yet to be finalized, leaving the outcome uncertain. The talks were initiated after First Quantum faced setbacks… Read More Here

International Copper Exploration

Barrick and Antofagasta to spend $95m exploring for copper in Chile

January 5, 2024January 5, 2024 Constance

Canada’s Barrick Gold (TSX: ABX)(NYSE: GOLD) and Chilean miner Antofagasta (LON: ANTO) have partnered to explore together for copper and other metals in the Alto del Carmen area of the country’s northern Atacama region. Through the newly formed Minera El Encierro, the companies will invest about $95 million to enable 60 drilling platforms on a property comprising 35 concessions that cover an area of 9,400 hectares. Drilling will be carried out over five years and each campaign will have an estimated duration of 10 months, El Encierro said in its… Read More Here

International Copper

Workers at FQM’s shuttered Panama mine warn of threat to ‘invade’ site

January 5, 2024January 5, 2024 Constance

The union representing workers at First Quantum’s copper mine in Panama on Wednesday warned of another union’s plan to “invade” the site next week, the latest face-off over the now-shuttered mine that provoked nationwide protests last year. The UTRAMIPA miners’ union said in a statement it was “worried” by the plans of the Suntracs construction workers union, the largest in the country, to force its way into the Canadian miner’s operation on Jan. 9. First Quantum in late November suspended commercial production at the mine and put it into care… Read More Here

Mining in Zambia Copper News in Brief

Vedanta Resources Limited Awaits Control of Konkola Copper Mines Post Arrangement Scheme

January 5, 2024January 5, 2024 Constance

Vedanta Resources Limited clarified that it has not assumed managerial control at Konkola Copper Mines (KCM) until the scheme of arrangement concludes. Masuzyo Ndhlovu, Director of Corporate Communications at Vedanta Resources Zambia, explained that the scheme of arrangement denotes a legally approved agreement between a company and its creditors. Mr Ndhlovu elaborated that the scheme encompasses actions like withdrawing the Provisional Liquidator and reinstating the KCM Board. He emphasized that the company’s obligation to settle dues to creditors and employees will commence once all requisite processes are finalized for a… Read More Here