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Category: Copper

FQM MAINTAINS PRODUCTION GROWTH IN Q3  1 Mining in Zambia Copper Press Release 

FQM MAINTAINS PRODUCTION GROWTH IN Q3 

Constance
First Quantum Minerals maintained its trend of increasing production in the third quarter of 2023, propelled by the mining firm’s execution of new agreements with the Zambian government in the previous year.During the quarter, FQM marked a significant milestone by making its first concentrate sale from the newly established Enterprise nickel mine in Kalumbila. Additionally, the company continued to advance steadily with the S3 expansion project at its Kansanshi mine in Solwezi.This performance was also a result of mining fleet deployment changes, allowing for the opening up of new mining… Read More Here
Panama’s top court considers lawsuit over First Quantum deal 2 International Copper 

Panama’s top court considers lawsuit over First Quantum deal

Constance
Panama’s Supreme Court will consider a lawsuit which alleges that the nation’s contract with copper miner First Quantum Minerals Ltd. violates the constitution. The court said in a statement that it will issue an opinion on the lawsuit within 10 business days. If it then proceeds, it will request written arguments from attorneys representing both sides. From there, it would advance to the magistrates for a ruling, the court said. Shares of First Quantum fell in Canada trading after the statement, and were down 4.1% at 12.47 a.m. in Toronto.… Read More Here
ZCCM-IH Delivers 436 Million Kwacha Dividend to IDC Amidst Resilient Performance 3 Mining in Zambia Copper Corporate News 

ZCCM-IH Delivers 436 Million Kwacha Dividend to IDC Amidst Resilient Performance

Constance
ZCCM-IH, under the leadership of Chairperson Kakenenwa Muyangwa, demonstrated its financial strength and resilience by delivering a substantial dividend totaling over 436 million Kwacha. This dividend reflects the company’s performance over the financial years 2021 and 2022, even in the face of a challenging business environment in the past three years. Despite these challenges, ZCCM-IH exhibited robust growth. The group’s revenue soared from 174 million Kwacha in 2020 to an impressive 11.9 billion Kwacha in 2022. A significant contributor to this remarkable surge was the strategic acquisition of Mopani Copper… Read More Here
glencore london International Copper 

Glencore to close copper mines in Mount Isa, Queensland in 2025

Constance
Swiss commodity trader Glencore has plans to close its underground copper mines in Mount Isa, Queensland, Australia, in H2 2025, after 60 years of mining operations. The decision to close the underground copper operations belonging to operator Mount Isa Mines (MIM) is expected to affect 1,000 jobs. Affected operations include Enterprise, X41 and Black Rock, in addition to the nearby Lady Loretta Zinc mine. However, the company plans to continue to operate Mount Isa Mines’ other metals assets, including the copper smelter, the George Fisher Mine, the zinc-lead concentrator and… Read More Here
First Quantum Adjusts Production Guidance for Key Mines 4 Copper Mining in Zambia 

First Quantum Adjusts Production Guidance for Key Mines

Constance
First Quantum, a Canadian-headquartered mining company, has revised its copper production guidance for the year due to the performance of its three primary mines: Cobre Panamá, Kansanshi, and Sentinel. The new copper production guidance is set between 745,000 t and 775,000 t, down from the previous estimate of 770,000 t to 840,000 t. Despite improved production in the third quarter, the lower guidance is based on year-to-date performance. Copper production increased by 18% to 221,550 t in Q3, with copper C1 cash costs dropping by $0.56/lb from the second quarter… Read More Here
FQM Advances Option Agreement with African Pioneer Zambia Ltd in Namibia 5 Mining in Zambia Copper 

FQM Advances Option Agreement with African Pioneer Zambia Ltd in Namibia

Constance
Namibia-focused exploration and development company, African Pioneer Zambia Ltd, provided updates regarding its option agreement with First Quantum Minerals Ltd, an 80% owned subsidiary of African Pioneer Zambia Ltd. An addendum to the original agreement, announced in January, was agreed upon on October 20. First Quantum Minerals exercised their option over two out of four licenses subject to the agreement, initiating a two-year earn-in period. Due to the progress made and expenses incurred so far, First Quantum has been granted an additional six months until January 17, 2024, to spend… Read More Here
Zijin Mining Asserts Its Right to Develop Manono Lithium Mine in the DRC 6 Mining in DRC Battery Metals Cobalt Copper Lithium 

Zijin Mining Asserts Its Right to Develop Manono Lithium Mine in the DRC

Constance
China’s Zijin Mining is determined to move forward with the contentious Manono Lithium mine in the Democratic Republic of Congo (DRC) after being granted permission to develop the deposit. Originally owned by Australian AVZ Minerals, the mineral-rich site had its permit revoked by the DRC’s mines ministry due to slow development progress. As a top gold and copper miner in China, Zijin has been actively acquiring lithium assets in South America and Africa to supply the electric vehicle battery industry. Zijin’s subsidiary, Jinxiang Lithium, holds a 61% stake in Manono… Read More Here
First Quantum’s 20-year deal on Cobre Panama now official 7 International Copper 

First Quantum’s 20-year deal on Cobre Panama now official

Constance
First Quantum Minerals (TSX: FM) says the law governing the mining concession for its Cobre Panama copper mine was passed and published in the Official Gazette of Panama on Oct. 20. Thus ends a period of uncertainty that began last year for the company. The Panamanian government last December ordered First Quantum to halt operations at Cobre Panama amid disagreements during contract negotiations, which later broke down. Talks eventually resumed and the parties reached an agreement in March. First Quantum had estimated that suspensions at the mine which lasted for… Read More Here
Zambia Secures $15 Billion from China for Africa's Largest Copper Smelting Plant 8 Mining in Zambia Copper 

Zambia Secures $15 Billion from China for Africa’s Largest Copper Smelting Plant

Constance
Zambia’s government has successfully obtained $15 billion in funding from China to establish a monumental Copper Smelting Plant in the Kabompo district of the North Western Province. This ambitious project, set to become the largest of its kind in Africa, is a joint venture between the Zambia National Service (ZNS) and a Chinese investor. During an interactive forum with Kabompo District residents, ZNS Commander Lieutenant General Maliti Solochi announced the commencement of this remarkable endeavor by the end of the year. Notably, this project will be accompanied by a substantial… Read More Here
STATE HOUSE HONOURS LATE FQM LEADER PHILIP PASCALL  9 Mining in Zambia Copper 

STATE HOUSE HONOURS LATE FQM LEADER PHILIP PASCALL 

Constance
The late co-founder and chairman of First Quantum Minerals Ltd, Philip Pascall, has received the rare honour of being recognized and honored at the annual Independence Day awards at State House.Mr Pascall, who passed away in September this year, was posthumously bestowed with the Order of the Eagle of Zambia Third Division in recognition of his service to the nation.The accolade was accepted from President Hakainde Hichilema by his son and FQM Chief Executive Officer Tristan Pascall during an investiture ceremony in Lusaka on yesterday October 24, 2023.“It is a… Read More Here

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