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Category: Copper

New ZCCM-IH Vice Board Chair Tours Mopani Copper Mines PLC Facilities 1 Copper Mining in Zambia Mining Personality 

New ZCCM-IH Vice Board Chair Tours Mopani Copper Mines PLC Facilities

Constance
Mr. Mubita Akapelwa, the recently appointed Vice Board Chairperson of ZCCM-Investment Holdings (ZCCM-IH), conducted an extensive tour of Mopani Copper Mines PLC facilities on Wednesday, December 6th, 2023. Accompanied by senior officials from ZCCM-IH, Mr. Akapelwa visited various key operational sites in both Kitwe and Mufulira. In Kitwe, the delegation inspected crucial areas at the Nkana Mine Site, including the South Orebody (SOB) Shaft, Synclinorium Shaft, Synclinorium Concentrator, and the Mindola Deeps project. Their visit aimed to gain firsthand insights into the operations and ongoing projects at these strategic locations.… Read More Here
FQM Shifts Focus to Accelerate Zambian Project Amid Panama Setback 2 Mining in Zambia Copper 

FQM Shifts Focus to Accelerate Zambian Project Amid Panama Setback

Constance
In a groundbreaking partnership, First Quantum Minerals and Zambia’s Mimosa Resources are poised to expedite the joint development of the Fishtie copper project in Zambia’s Central Province, near the border with the Democratic Republic of Congo. Having delved into exploration since 2012, the companies envision Fishtie commencing production in 2026 and targeting an annual copper output of 30,000 tonnes by the decade’s end. Mimosa Resources currently holds a 37.5% interest in Kashime Copper Ltd, the entity overseeing the Fishtie project. Through a strategic deal with First Quantum, Mimosa’s ownership is… Read More Here
FQM Seeks Government Clarity Regarding Cobre Panama Workers' Future 3 International Copper 

FQM Seeks Government Clarity Regarding Cobre Panama Workers’ Future

Constance
Following the publication, in the December 2 Official Gazette, of a Supreme Court ruling regarding the unconstitutionality of First Quantum Minerals’ contract for its Cobre Panamá copper mine in the Central American country, the miner issued a communiqué informing employees that it is uncertain how many people will be able to continue working at the operation. “Until the government sets up a clear roadmap, we cannot determine how many of our collaborators will continue working at the company in care and maintenance tasks (non-operational), a key factor to avoid future… Read More Here
FQM CEO Expresses Concerns Over Sustainability if Panama Operations Cease 4 International Copper Mining Personality 

FQM CEO Expresses Concerns Over Sustainability if Panama Operations Cease

Constance
The chief executive of Canadian miner First Quantum said he would have to look into how the company could sustain its finances in the long term, given Panama’s push to annul operations at its local copper mine, the miner’s biggest revenue source. “We have strong finances in the short and medium term, but yes, we have to see how we sustain them in the long term,” Tristan Pascall said in an interview with Panamanian newspaper La Prensa published on Friday December 1st, when asked about the risk of bankruptcy for… Read More Here
Gecamines Pursues Enhanced Stake in DRC's Mineral Trade 5 Mining in DRC Cobalt Copper 

Gecamines Pursues Enhanced Stake in DRC’s Mineral Trade

Constance
Congo’s state mining group, Gecamines, is striving to secure rights to purchase copper and cobalt from mines it holds stakes in. This move is part of its strategy to build up its own reserves and engage in the trading of these crucial metals. To achieve this goal, Gecamines seeks to revise certain terms within its joint venture agreements in the Democratic Republic of Congo (DRC), known as the world’s primary supplier of battery-grade cobalt and the third-largest producer of copper after Peru and Chile. According to Guy Robert Lukama, Gecamines’… Read More Here
DRC's Cobalt Prices Plunge Despite Global Supply Dominance 6 Mining in DRC Cobalt Copper Economy 

DRC’s Cobalt Prices Plunge Despite Global Supply Dominance

Constance
The Democratic Republic of Congo (DRC), renowned for supplying 70% of the world’s cobalt, confronts a significant downturn in cobalt prices. Finance Minister Nicolas Kazadi highlighted the staggering drop in cobalt prices from $81,000 to $31,000 per tonne within a year, expressing deep concerns about this drastic plunge. As of November 23, 2023, copper prices surged by 2.27% to $8,306.35 per tonne. In contrast, cobalt prices experienced a slight 0.03% decline, reaching $32,737.31 per tonne, according to the Central Bank of Congo (BCC). Minister Kazadi stressed the challenge the DRC… Read More Here
Abu Dhabi's IRH Selected as Strategic Partner to Revitalize Mopani Mine 7 Mining in Zambia Copper Mergers & Acquisitions New Mining Projects 

Abu Dhabi’s IRH Selected as Strategic Partner to Revitalize Mopani Mine

Constance
International Resources Holding RSC Limited (IRH), an affiliate of Abu Dhabi’s conglomerate International Holding Company PJSC (IHC), the UAE’s most valuable listed company and the GCC region’s second most valuable, has been chosen as the preferred strategic equity partner (SEP). IRH has set a strategy to invest in crucial minerals and establish a new entity covering the entire metals and mining supply chain. The proposed investment in Mopani Copper Mines (MCM) stands as IRH’s most substantial single investment so far. It signifies a pivotal move in their strategy to emerge… Read More Here
FQM Mine Faces Shutdown in Panama After Ruling, Confirms President 8 International Copper 

FQM Mine Faces Shutdown in Panama After Ruling, Confirms President

Constance
Panama’s government said it will shut a $10 billion copper mine owned by First Quantum Minerals Ltd., damping hopes that the company might reach a new deal to keep operating after a supreme court ruling against it. Authorities will start “the transition process for the orderly and safe closure of the mine,” President Laurentino Cortizo said in a post on X Tuesday. He didn’t say how long the process might take. Production had already been halted after protesters blocked supplies from reaching the mine. The announcement caps a dramatic six… Read More Here
Panama’s top court rules FQM contract unconstitutional 9 Copper International 

Panama’s top court rules FQM contract unconstitutional

Constance
Panama’s Supreme Court ruled on Tuesday that First Quantum Minerals’ contract to operate its giant Cobre Panama copper mine, the only mining operation in the Central American country, is unconstitutional. Challenges against the contract, which would have allowed Cobre Panama to keep operating for the next 20 years, piled up in court following public protests against the deal inked in October by the government and First Quantum’s local subsidiary, Minera Panama. The court began deliberations on Friday and continued over the weekend. It announced a 12-hour break at the end… Read More Here
First Quantum Reports Fatalities at Kansanshi, Sentinel Operations 10 Mining in Zambia Copper Safety & Health 

First Quantum Reports Fatalities at Kansanshi, Sentinel Operations

Constance
It is with deep regret that First Quantum Minerals Ltd. announced the death of a team member from its contracting partner, Reliant Drilling, at the Company’s Kansanshi operation following a fall of ground at the underground dewatering decline on the evening of Thursday, November 23. In a separate incident on Friday, November 24, a contractor team-member from Omega Risk Solutions was tragically killed in a light vehicle accident when the car he was driving rolled at Sentinel. A passenger in the vehicle was also injured and is in a stable condition.… Read More Here

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