Copper - Copperbelt Katanga Mining

Copper drifts lower as concern about China saps confidence

August 18, 2023August 18, 2023 Constance

Copper declined — tracking a broad slide in global risk assets — as concerns about China’s economy and widening housing crisis put markets in bearish mood. The metal edged down on the London Metals Exchange and is headed for a third straight weekly loss. Pessimism over China’s growth prospects is building after the country’s state-owned property developers warned of widespread losses, fueling concerns turmoil is spreading from the private sector. The Chinese real estate sector is a globally significant source of metals consumption and a crucial driver of the country’s… Read More Here

Copper Mining in DRC Mining in Zambia Transport and Logistics

Lobito Corridor to transport 10,000 tons of copper from DRC

August 18, 2023August 18, 2023 Constance

In the last quarter of 2023, ten thousand tons of copper concentrate, extracted by the Canadian company “Ivanhoe Mines,” will be transported through the Lobito Corridor (Benguela), reducing travel time on the railway link between countries in Southern Africa. For this purpose, Ivanhoe Mines, which operates the copper mines of Kamoa-Kakula in the Democratic Republic of Congo (DRC), has signed a memorandum of understanding with the Lobito Atlantic Railway (LAR) consortium, which manages the railway line of the Lobito Corridor, to transport this ore. The signing of this memorandum, announced… Read More Here

Copper New Mining Projects

Multi Billion Pula Motheo Copper Mine officially open

August 16, 2023August 16, 2023 Constance

Sandfire Resources Limited this week officially opened the Motheo Copper Mine in Botswana, headlined by His Excellency Dr. Mokgweetsi Eric Keabetswe Masisi, the President of the Republic of Botswana. The official opening ceremony was held on site at Motheo, approximately 70km north-east of Ghanzi. Sandfire’s Board approved the development of the Motheo Copper Mine in December 20201 and first copper concentrate was produced less than three years later, in May 2023. Ramp-up in throughput towards the initial 3.2Mtpa processing rate is on the cards with nameplate capacity already achieved across… Read More Here

Copper Cobalt Mining in DRC

DRC Expects Copper Price to Decline This Week

August 16, 2023August 16, 2023 Constance

The general trend of mining products exported from the Democratic Republic of Congo (DRC) on international markets is bearish during the period from August 14 to 19, 2023. According to the National Mercurial Commission of the Ministry of Foreign Trade, the copper price should continue in its downward curve this week to trade at 8,417.15 USD per tonne against 8,613.75 USD per tonne a week earlier. According to the projections made by the experts of the Ministry of Foreign Trade, copper should lose 196.6 USD of its market value during… Read More Here

Copper Mining in DRC

DRC Copper Slips Slightly to $8,570.35/Tonne in August’s First Week 2023

August 16, 2023August 16, 2023 Constance

During the first week of August 2023, copper recorded a slight drop in price of around 0.58% weekly on the international markets. According to the note on the economic situation of the Central Bank of Congo (BCC), the price of a ton of copper was valued at 8,570.35 USD during the period under analysis. At the LME level, copper for 3-month delivery was trading at midday on Monday August 14, 2023 around USD 8,300 per tonne, up slightly from the low of USD 8,251 hit earlier. The price of the red… Read More Here

International Copper

Codelco in talks with Anglo American to boost copper production in Chile

August 13, 2023August 13, 2023 Constance

orporación Nacional del Cobre de Chile (Codelco) and Anglo American are looking to collaborate to boost copper output and productivity at their adjoining operations in Chile, reported Bloomberg News, citing people familiar with the matter. The talks between the companies involve optimising mineral-rich grades located between Codelco’s Andina mine and Anglo’s Los Bronces mine. Furthermore, Codelco and Anglo American are considering processing ore from the Andina mine at the Los Bronces plants. A potential deal between the companies is expected to be limited to operational collaboration and would not include ownership changes, reported the… Read More Here

Mining in Zambia Copper Economy Mining in DRC

Zambia’s plan to dig its way out of debt with a copper revival

August 13, 2023August 13, 2023 Constance

As of July, the pursuit of a premier copper reserve on a global scale guided a Silicon Valley startup to the doorstep of a once-mighty mining empire. In the town of Chililabombwe, situated within Zambia’s Copperbelt province and near the border with the Democratic Republic of Congo, dignitaries observed with anticipation as a drilling rig penetrated deep into rock. KoBold Metals, backed by formidable venture capitalists such as Breakthrough Energy Ventures with support from luminaries like Bill Gates and Jeff Bezos, embarked on a $150 million exploration venture with the… Read More Here

Mining in Zambia Battery Metals Copper

US Firm Commits Billions to Establish Mineral Refineries in Zambia

August 13, 2023August 13, 2023 Constance

A prominent American corporation, Critical Resources Development, has unveiled ambitious plans to invest a substantial sum exceeding ten billion US dollars in the establishment of three advanced mineral and Rare Earth element refineries within Zambia. These state-of-the-art refineries are slated to be strategically positioned within Multi-Facility Economic Zones situated across the Copperbelt region’s central and northern provinces. In a recent interaction with local traditional leaders from the Copperbelt area, the President of Critical Resources Development, Chris Robinson, articulated the company’s commitment to generating significant economic opportunities. Robinson highlighted that the… Read More Here

International Copper New Mining Projects

Sandfire cuts the ribbon at Botswana copper mine

August 11, 2023August 11, 2023 Constance

Copper miner Sandfire Resources has officially opened its Motheo copper mine, in Botswana. A final investment decision on the $259-million Motheo mine was taken in December 2020 and first concentrate from the mine was produced in May this year. The base-case Motheo operation requires a capital investment of $259-million, and based on a 3.2-million-tonne-a-year operation, would deliver 30 000 t/y of contained copper and 1.2-million ounces of contained silver over an initial mine life of 12.5 years. The project is expected to ramp up its initial throughput rate to 3.2-million tonnes rate, to produce 30 000 t/y of contained copper and… Read More Here

International Copper Gold

Barrick CEO sees few good deals despite mining’s M&A revival

August 11, 2023August 11, 2023 Constance

Barrick Gold Corp. won’t be pressured into making any major acquisitions even as its rivals pursue a flurry of deal making in the mining industry, chief executive officer Mark Bristow said. “The market is constantly dragging us into the M&A conversation, and we don’t need that,” Bristow said on Tuesday August 8 in an interview at Bloomberg’s Toronto office. “We’re not anti-M&A — it’s a component of any industry rearrangement — but the problem is that, in the gold industry, most of the tier one assets remaining are embedded in bad assets.… Read More Here