Copper - Copperbelt Katanga Mining

DRC’s Subcontracting Set to Capture $8.29 Billion in the Mining Sector in 2022

November 15, 2023November 15, 2023 Constance

Subcontracting in the Democratic Republic of Congo (DRC) is emerging as a substantial economic driver, poised to significantly contribute to the country’s economic development. In 2022, this sector is anticipated to yield over $8.29 billion, particularly from the mining industry’s production. During a briefing held on Monday, October 13, 2023, by the Minister of Communication and Media, Patrick Muyaya, Miguel Kashal, the Director General of ARSP, highlighted that the cost of production in the mining sector is 35%. This 35% represents the share allocated to subcontracting companies, linking the success… Read More Here

Mining in DRC Copper

Kamoto Mine Sparks Hope for the DRC’s Mining Sector

November 14, 2023November 14, 2023 Constance

In the heart of the Democratic Republic of Congo’s (DRC) mining landscape lies the Kamoto mine, operated by the Kamoto Copper Company (KCC), a partnership between Glencore and Gécamines. These tunnels, delving more than 600 meters into the earth, hold a storied past and a resilient future. Recalling the tragic history of Kamoto, journalist Israel Mutala notes that the mine, located in Kolwezi, experienced a devastating collapse in 1989 during the DRC’s economic crisis. This event resulted in a 70% reduction in Gécamines production, causing hyperinflation, substantial economic losses for… Read More Here

International Copper

Trafigura brings Australian mined copper back to China -sources

November 14, 2023November 14, 2023 Constance

Swiss commodity trader Trafigura has agreed to help Chinese smelters clear imports of copper concentrate from Australia, suggesting an informal ban has been lifted if the cargo clears customs, three sources familiar with the matter told Reuters. China has gradually been easing a raft of unofficial curbs and tariffs on Australian imports, including copper concentrate and coal, that were imposed in 2020 at the height of a diplomatic spat over trade and security. Despite a wider informal easing, state-owned Chinese smelters that turn concentrate into copper metal, have been reluctant… Read More Here

International Copper

Jiangxi Copper boosts stake in First Quantum

November 12, 2023November 12, 2023 Constance

Jiangxi Copper, First Quantum’s (TSX: FM) largest shareholder, has increased its stake in the Canadian miner, which is still reeling from the heavy losses caused by uncertainty regarding the future of its flagship copper mine in Panama. The Chinese miner grew its interest in First Quantum to 18.5% from 18.3%, after buying a total of 1.35 million shares this week. Panamanian legislators were very close to cancelling the Vancouver-based miner’s recently ratified 20-year contract to operate the giant Cobre Panama copper mine. After three consecutive days of extraordinary meetings, the… Read More Here

Mining in Zambia Copper Exploration

Anglo American Finalizes Joint Venture, Progresses Exploration in Zambia

November 12, 2023November 12, 2023 Constance

Global mining company Anglo American has confirmed it is progressing early-stage copper exploration at a number of licences in Zambia’s North-Western Province, following completion of the formation of its joint venture with a subsidiary of Arc Minerals Ltd (“Arc”). Under the terms of the joint venture agreement, which recently completed following satisfaction of the outstanding conditions (including regulatory approvals), Anglo American has a right to retain 70% of the joint venture company subject to meeting certain exploration commitments and payments to Arc. Exploratory drilling at one of the key joint… Read More Here

Mining in DRC Battery Metals Copper

Critical Metals Transforms Into a Copper Producer in DRC

November 12, 2023November 12, 2023 Constance

Critical Metals, a copper project developer, marked its evolution from an explorer to a full-fledged copper producer in the Democratic Republic of Congo (DRC) with the initiation of mining and processing operations at the Molulu project. The company anticipates positive operating cash flow in the fourth quarter. By the end of the financial year, Critical Metals employed 51 people in the DRC, 49 of whom were DRC citizens. During the mining build-up, the company streamlined its corporate structure and increased its indirect holding in the Molulu copper project from 40%… Read More Here

Mining in DRC Copper Transport and Logistics

Ivanhoe Mines Addresses Media Reports on Trucking Strike in the DRC

November 12, 2023November 12, 2023 Constance

KOLWEZI, DEMOCRATIC REPUBLIC OF CONGO – Ivanhoe Mines (TSX: IVN; OTCQX: IVPAF) responded to media reports regarding the status of trucking shipments in the Democratic Republic of Congo (DRC) concerning a third-party labor dispute. Operations at the Kamoa-Kakula Copper Complex continued as usual, and as of November 9, significant shipments occurred from the mine gate, with additional shipments taking place in the following days. Ivanhoe Mines’ management proactively collaborated with the DRC government and local authorities to address any potential interim effects on outbound shipping. However, the company did not… Read More Here

Mining in DRC Artisanal mining Cobalt Copper

Artisanal Mining Realities in Kamilombe

November 12, 2023November 12, 2023 Constance

In the heart of the Democratic Republic of Congo’s (DRC) Lualaba province lies the artisanal mining site of Kamilombe, a place where thousands of young people gather with the hope of benefiting from the region’s abundant copper and cobalt deposits. However, this promising venture comes with challenges and risks that need attention. At Kamilombe, cooperatives like CMDS oversee around 15,000 artisanal diggers spread across approximately 1,800 wells. These hardworking individuals face perilous conditions due to a lack of proper safety measures and infrastructure. The absence of personal protective equipment contributes… Read More Here

Transport and Logistics Copper Mining in DRC Mining in Zambia

Resumption of Copper Transport in the DRC Sparks Concerns Over Border Bottlenecks

November 10, 2023November 10, 2023 Constance

Trucks loaded with thousands of tons of copper in the Democratic Republic of Congo (DRC) have recommenced their journey toward the Zambian border, accompanied by security escorts, after a recent wildcat strike, according to sources briefed on the matter. Approximately 2,700 trucks, carrying around 89,000 tons of copper, had been stranded in Kolwezi due to drivers demanding a risk allowance of $700 per journey, as reported by Reuters on November 7. The sudden release of the trucks is expected to worsen the situation at the border, where existing bottlenecks were… Read More Here