Copper - Copperbelt Katanga Mining

DRC Cancels Mining rights for 29 Companies

September 8, 2023September 8, 2023 Constance

On the date of the issuance of the decree, July 31st, by Michel Kibonge Nyekuma, the Chief of Staff of the Minister of Mines, several of these companies had not yet signed their memorandum of understanding. Twenty-nine mining companies, including Cico, Cilu, Congolaise de Mines et du Développement (Comide), Boss Mining, Ruashi Mining, PPC Barnet, and Chemaf, owned by Congolese, German, Kazakh, Chinese, Indian, South African, and Australian groups, have had their mining rights canceled by the government of the Democratic Republic of Congo (DRC). As of the date of… Read More Here

Mining in DRC Copper

CMOC Group Expands Copper Production in the DRC

September 8, 2023September 8, 2023 Constance

CMOC Group, a Chinese mining company, has revealed its ambitious plans to boost copper production in the Democratic Republic of Congo (DRC) to 600,000 metric tons in the upcoming year. This significant development follows a recent resolution of a long-standing dispute with the state-mining entity, Gecamines, and marks a positive turning point for the company. CMOC Group is actively increasing its production output at the Tenke Fungurume Mining (TFM) facility, where copper and cobalt exports had faced a ban until May this year due to a protracted disagreement with Gecamines,… Read More Here

Mining in DRC Cobalt Copper Gold

DRC Gold Prices Surge: One Gram Now Valued at $62.19 USD This Week

September 8, 2023September 8, 2023 Constance

After copper and cobalt, the Democratic Republic of Congo also wants to focus on gold ore to increase its public revenue. On the international markets, gold should experience a significant price increase during this week, inform the projections of the National Commission of Mercurial Prices of the Ministry of Foreign Trade of the Democratic Republic of Congo (DRC). A gram of gold is expected to trade at USD 62.19 this week compared to USD 61.31 per gram last week. From one week to one, this ore should record an increase… Read More Here

Mining in DRC Cobalt Copper Mining in Zambia

UK Drops Corruption Charges Against Eurasian Natural Resources Corp in DRC Mining Case

September 8, 2023September 8, 2023 Constance

In 2013, the United Kingdom initiated a corruption investigation into a subsidiary of Eurasian Resources Group operating in the Democratic Republic of Congo (DRC). The company in question, Eurasian Natural Resources Corporation (ENRC), was accused of offering bribes to secure mining contracts in the DRC. This is according to an update published on August 24, 2023. and the UK’s Serious Fraud Office has officially concluded its decade-long investigation into ENRC, which is now under the ownership of Eurasian Resources Group. According to the Serious Fraud Office’s recent announcement, the agency… Read More Here

Mining in DRC Copper Mining Equipment

Epiroc to supply equipment for Kamoa-Kakula Mining complex in DRC

September 6, 2023September 6, 2023 Constance

Kamoa Copper has ordered Minetruck MT65 S haulers, the world’s highest payload underground truck in the field, as well as Scooptram ST18 S loaders, Boomer 282 face drilling rigs, and Simba E70 S production drilling rigs. The machines will be used to expand operations at the Kamoa-Kakula Copper Mining Complex, which is projected to be among the world’s lowest greenhouse gas-emitting copper mines per unit of metal produced. The order is valued at almost MEUR 60 (MSEK 700) and was booked in the third quarter 2023. Kamoa-Kakula is set to become… Read More Here

International Copper

South African Miners join race to buy Khoemacau Copper mine

September 6, 2023September 6, 2023 Constance

At least three South African miners are in the running to buy Botswana’s Khoemacau copper mine that is home to one of Africa’s largest copper deposits, several sources told Reuters, as growing demand for the metal ensures strong competition for the sought-after asset. Johannesburg-listed Impala Platinum, Exxaro Resources and Sibanye Stillwater are weighing bids for the copper and silver mine in Botswana, said the sources with knowledge of the matter, who declined to be named due to the sensitivity of the information. A number of unnamed Chinese investors, are also… Read More Here

Mining Personality Copper Gold Mining in Zambia

Vedanta Explores Chris Griffith as Potential Head of African Base Metals Business

September 6, 2023September 6, 2023 Constance

Vedanta Resources is considering appointing former Gold Fields boss and Anglo American executive Chris Griffith as head of its African base metals business, according to people familiar with the matter. Indian billionaire Anil Agarwal’s Vedanta owns zinc mines in South Africa and neighboring Namibia, which will form the base-metals portfolio with Zambia’s Konkola Copper Mines. Griffith quit as Gold Fields CEO in December after the company’s failed attempt to take over Canada’s Yamana Gold Inc. He previously headed the platinum and iron-ore businesses of Anglo American, in which Agarwal was once the biggest shareholder. Talks are ongoing, and no final decisions have been made by either party on… Read More Here

Mining in Zambia Copper

Zambia’s Mines Minister Announces Vedanta’s Return to Konkola Copper Mines (KCM)

September 6, 2023September 12, 2023 Constance

In a significant development for Zambia’s mining industry, Hon. Paul Kabuswe, the Minister of Mines and Minerals Development, announced on September 5, 2023, that Vedanta Resources will be reinstated to run Konkola Copper Mines (KCM). This announcement marks a pivotal moment in Zambia’s economic revival under the New Dawn government’s leadership, signaling the country’s commitment to sustainable growth and a thriving mining sector. The government aims to place the well-being of the Zambian people at the heart of its initiatives, transforming their livelihoods for the better. Resolving the KCM Impasse… Read More Here

Mining in Zambia Copper

Vedanta Resources’ Pledge to Revitalize Konkola Copper Mines in Zambia

September 5, 2023September 5, 2023 Constance

In a momentous announcement, Mr. Pushpender Singla, Executive Director and Chief Financial Officer of Vedanta Zinc International South Africa, expressed Vedanta Resources Limited’s unwavering commitment to Zambia through its subsidiary, Konkola Copper Mines (KCM). He made this announcement at the Mulungushi International Conference Centre on September 4th, 2023. The occasion marked a significant milestone in Vedanta’s operations in Zambia and signaled their ambitious vision for KCM’s future. Reaffirming their dedication to KCM, Mr. Singla emphasized Vedanta’s intention to run the company boldly and embark on a journey to recapitalize this… Read More Here

Copper Mining in Zambia Mining revenue

Mopani Copper Mines Reports Declining Output and Deeper Losses

September 5, 2023September 5, 2023 Constance

In the first half of this year, Mopani Copper Mines witnessed a significant drop in production, leading to increased financial losses for the operation, which was acquired from Glencore in 2021. According to a statement by the parent company, ZCCM-IH, Mopani’s losses in the six months through June escalated to $196 million, in contrast to $120 million during the corresponding period in the previous year. This deterioration in financial performance can be attributed to both a reduction in output and escalating operational costs. Copper production during this period dwindled to… Read More Here