Copper - Copperbelt Katanga Mining

Trafigura-Led Lobito Rail Upgrade Awaits Its First Users

September 5, 2023September 5, 2023 Constance

African metal producers are reluctant to make long-term commitments to use a railway a Trafigura-led consortium plans to upgrade, four sources with knowledge of the matter said. Known as Lobito Atlantic Railway, the consortium pitched the overhaul of the line, historically known as the Benguela Railway, that links resource-rich Democratic Republic of Congo (DRC) to the port of Lobito in Angola to bypass road congestion and avoid long delays on the copper and cobalt route. So far only Ivanhoe Mines is known to have signed a non-binding agreement to use the Lobito railway… Read More Here

International Copper

197 investors sue Glencore over “untrue statements” in its prospectuses

September 4, 2023September 4, 2023 Constance

Atotal of 197 funds are seeking damages from Swiss mining giant Glencore over allegations that the company made misleading or untrue statements in its prospectuses to cover up corrupt activities. The claimants, which include funds managed by Abrdn , Fidelity, HSBC, Invesco, Legal & General and Vanguard, have alleged that they suffered financial losses as a direct result of “untrue statements” and omissions in Glencore’s 2011 prospectus for its listing on the London Stock Exchange. They are also suing for misleading information in the company’s 2013 prospectus relating to its merger… Read More Here

Mining in DRC Copper Mining revenue

CMOC Group Limited Reports $12.22 Billion Turnover in DRC Mines for H1 2023

September 3, 2023September 3, 2023 Constance

CMOC Group Limited announces that it has recorded a turnover of 12.22 billion US dollars in its mines in the Democratic Republic of Congo (DRC) in the first half of 2023, down 5.49% year-on-year. In a press release published on Wednesday August 30, 2023, CMOC explains that these results are due to the impact of the disruption of exports of TFM copper and cobalt products and the negative evolution of the market price of phosphate products. The group says it achieved net profit attributable to parent company of USD 99.08… Read More Here

Copper Cobalt Mining in DRC

The Significance of Copper and Cobalt

September 3, 2023September 3, 2023 Constance

Copper and cobalt, two metals with a rich history in the traditional metal industry, have found a new and vital role in the modern world. Beyond their conventional uses, these metals have become crucial components in the production of rechargeable batteries, which are the lifeblood of the electric vehicle (EV) and portable device industries. This shift has thrust the Democratic Republic of Congo (DRC) into the spotlight, as it contributes significantly to the global supply of both copper and cobalt. In this article, we look at the significance of copper… Read More Here

Mining in Zambia Copper Mining Personality Partnership

SIBANYE-Stillwater CEO Expresses Confidence in Bidding for Zambia’s Mopani Copper with Chinese Partner

August 30, 2023August 30, 2023 Constance

SIBANYE-Stillwater CEO Neal Froneman said he rated his firm’s chances of bidding successfully for Zambia’s Mopani Copper after jointly submitting an offer with a “substantial Chinese copper company”. “I do think we can involve eastern partners and help resolve a conflict Zambia is dealing with between east and west,” said Froneman in an interview. “Zambia did not request it.” A decision from Mopani’s current owner, the state-owned ZCCM-IH, was about “two to three weeks away” after which the successful bidder would begin negotiations on a long-term fiscal regime, royalties and… Read More Here

Copper Economy Mining in DRC

Copper to Trade Slightly Up at US8,269.60/Tonne This Week in DRC

August 30, 2023August 30, 2023 Constance

After several weeks of scarcity, the price of copper should register a slight increase during the period from August 28 to September 2, 2023. According to projections by the National Mercurial Commission of the Ministry of Foreign Trade, a ton of copper should sell this week at 8,269.60 USD against 8,232.45 USD a week earlier, a positive price difference. around $37.15. On Friday August 25, 2023, for the first time since the beginning of the current month, copper recorded a better trend in the market, driven by hopes of a… Read More Here

Mining in DRC Cobalt Copper Economy Tin

Tin Prices to Hit USD 25,430.00 per Tonne in DRC This Week

August 30, 2023August 30, 2023 Constance

The general trend of mining products exported from the Democratic Republic of Congo (DRC) is downward during the period from August 28 to September 2, 2023 on international markets. According to experts from the National Mercurial Commission of the Ministry of Foreign Trade, only copper and silver should experience a slight price increase respectively to 8,269.60 USD against 8,232.45 USD per tonne a week earlier, i.e. a positive price difference of around 37.15 USD for copper and 0.75 USD against 0.74 USD per gram for silver ore. In addition, tin… Read More Here

International Copper

Orion Elevates Mineral Resource Estimate for the Flat Mines Area within its South African Project

August 29, 2023August 29, 2023 Constance

JSE- and ASX-listed Orion Minerals has reported an increase in the mineral resource estimates for three deposits that form part of the Okiep copper project (OCP), located in the Northern Cape province of South Africa, following a detailed review of the geology and remodeling of the deposits. A review of the geological interpretation at Flat Mine North, Flat Mine East and Flat Mine South has resulted in improved definition of the mineralized zones, together with an increase in the total mineral resources. Mineral resources at Flat Mine North, Flat Mine East and Flat Mine South now… Read More Here

Copper International Partnership

FQM and Rio Tinto Announce Completion of the La Granja Agreement

August 28, 2023August 28, 2023 Constance

Canadian firm First Quantum Minerals and mining major Rio Tinto have finalised the establishment of a joint venture (JV) to develop the La Granja copper project in Peru. Located at a high altitude in Cajamarca, Northern Peru, La Granja is a complex orebody with a potential for a large, long-life operation. The project’s indicated and inferred mineral resources total at 4.32 billion tonnes at 0.51% of copper. After fulfilling conditions such as regulatory clearances in Peru, First Quantum picked a 55% interest in the project from Rio Tinto, in a $105m deal.… Read More Here

Copper Exploration Mining in Zambia New Mining Projects

Xtract to earn-in on two copper licenses in Zambia

August 25, 2023August 25, 2023 Constance

London-listed Xtract Resources has entered into a joint venture (JV) agreement with Cooperlemon Consultancy to explore for copper on two large-scale licences in the northwest of Zambia. The two exploration licences are located within the Western Foreland geological district that hosts the prolific Kamoa-Kakula deposit and the Central Fold, as well as the Thrust Belt, which all have acute competition for exploration licences. The two licences in question cover a combined 107 000 ha and are believed to contain high-grade Kamoa-style mineralisation at depth and lower grade bulk tonnage closer to surface. Chairperson Colin Bird states that there may also be Kolwezi-style… Read More Here