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Category: Copper

Armed Robbers Steal Truck Loaded with 32.9 Tons of Copper Cathodes near Ndola Toll Plaza 1 Mining in Zambia Copper 

Armed Robbers Steal Truck Loaded with 32.9 Tons of Copper Cathodes near Ndola Toll Plaza

Constance
Armed robbers stole a truck laden with 32.9 tons of Copper cathodes valued at over 5.2 million Kwacha near the Michael Chilufya Sata Toll Plaza in Ndola. The Copperbelt Police Commissioner, PEACEWELL MWEEMBA, confirmed that the cathodes belonged to SICO Mining of Kolwezi, in the Democratic Republic of Congo, and were being delivered to Bill Trans, a company in Ndola. According to Mr. MWEEMBA, the incident occurred when the truck driver and his security escort parked off the road to check the tires, which were defective. It was at this… Read More Here
Glencore Spotlights ESG and Gender Equality in Mining at DRC Conference 2 Mining in DRC Copper 

Glencore Spotlights ESG and Gender Equality in Mining at DRC Conference

Constance
Glencore is actively working towards increasing gender diversity in the mining sector and is implementing various strategies to achieve this goal. The company’s sustainability framework is built on four key pillars: health, safety, environment, and social performance, with a strong focus on human rights. Glencore is particularly proud of its partnership with Gécamines through the “Cahiers des Charges” of Kamoto Copper Company SA (KCC) and Mutanda Mining SARL (MUMI). With the DRC government holding a 5% stake in these ventures, Glencore expects its social investment in the DRC to surpass… Read More Here
Konkola Copper Mines to Repair Nchanga Smelter After Furnace Leak 3 Copper Mining in Zambia Mining safety 

Konkola Copper Mines to Repair Nchanga Smelter After Furnace Leak

Constance
Zambia’s renowned Konkola Copper Mines (KCM) has recently taken the decision to temporarily shut down its Nchanga smelter for a period of 21 days. The closure aims to facilitate essential repair work necessitated by a recent molten metal leakage from one of the furnaces, according to an official statement released by the company on Tuesday June 27th. Fortunately, the incident did not result in any loss of life or injuries, and KCM promptly reported the occurrence to the mine safety department, as per safety protocols. The upcoming shutdown period will… Read More Here
Saudi Arabia’s PIF Leads Bidding for $2.5 Billion Vale Base Metals Stake 4 International Battery Metals Copper 

Saudi Arabia’s PIF Leads Bidding for $2.5 Billion Vale Base Metals Stake

Constance
Saudi Arabia’s Public Investment Fund is emerging as the leading bidder to acquire a stake in Vale SA’s multibillion-dollar nickel and copper operations, people with knowledge of the matter said.  PIF is in advanced discussions with the Brazilian miner about a deal for a roughly 10% holding in its base metals unit, according to the people, who asked not to be identified discussing confidential information. The stake could be valued at around $2.5 billion, they said. The wealth fund is poised to beat out rival bidders including Japanese trading house Mitsui & Co. and the Qatar… Read More Here
Anglo American and Jiangxi Copper collaborate on responsible copper 5 International Copper Partnership 

Anglo American and Jiangxi Copper collaborate on responsible copper

Constance
The agreement was signed during a visit to Jiangxi Copper’s headquarters in Nanchang, China, and is part of Anglo American’s work with customers to create sustainable value chains beyond its own mining operations, recognising consumers’ increasing expectations for sustainably sourced and supplied raw materials. Peter Whitcutt, CEO of Anglo American’s Marketing business, said: “We are developing a series of partnerships to shape a more sustainable and customer-centric value chain – one that meets consumer-driven demand for copper with demonstrably strong provenance credentials. That value chain begins with our portfolio of… Read More Here
Copper at $8,354 per ton in DRC this week: June 19-24, 2023 6 Mining in DRC Copper 

Copper at $8,354 per ton in DRC this week: June 19-24, 2023

Constance
The price trend of the main mining export products of the Democratic Republic of the Congo oscillates between rising and falling in view of this week’s projections from June 19 to 24, 2023 of the National Mercurial Commission of the Ministry of Foreign Trade. Copper is trending up this week and is trading at USD 8,354 per tonne versus USD 8,294 per tonne last week, a positive price differential of USD 60. Cobalt is showing a stable trend this week and remains around 28,838 USD per ton on the international… Read More Here
Is Zambia really unattractive to mining investors? 7 Mining in Zambia Battery Metals Copper 

Is Zambia really unattractive to mining investors?

Constance
Zambia was once again among the world’s five least attractive jurisdictions for mining investment – that is, according to the Fraser Institute’s latest Annual Survey of Mining Companies. For members of Zambia’s Government, mining industry insiders, finance professionals – and anyone who follows the Canada-based think-tank’s annual report and saw our 2022 score – a return to the bottom five in this internationally-recognized report might seem like a bad joke. The report is widely considered a global benchmark for investors’ perceptions and, for years, Mining For Zambia highlighted its findings with you, our readers.… Read More Here
Bill Gates-backed KoBold Metals is the Silicon Valley’s newest unicorn 8 Battery Metals Copper International Nickel 

Bill Gates-backed KoBold Metals is the Silicon Valley’s newest unicorn

Constance
Berkeley-based mining company KoBold Metals has hit the $1 billion unicorn valuation, the Wall Street Journal reported. Its most recent $200 million round included money from Breakthrough Energy Ventures, a Bill Gates-backed venture capital firm that invests in clean energy companies on behalf of people including Jeff Bezos and Jack Ma. Founded in 2018, KoBold uses machine learning to look for deposits of critical minerals like copper, nickel, lithium and cobalt. “Our proprietary A.I. tools build on a concept we call efficacy of information (EOI), enabl KoBold to determine which data to… Read More Here
Rio Tinto invests in electric underground mine at Kennecott 9 International Copper Equipment & Technology Mining technology 

Rio Tinto invests in electric underground mine at Kennecott

Constance
Rio Tinto is investing in its Kennecott operation near Salt Lake City, Utah, to strengthen its supply of copper in the US by increasing production from underground mining and improving the health of key assets. $498 million of funding has been approved to deliver underground development and infrastructure for an area known as the North Rim Skarn (NRS). Production from the NRS will commence in 2024 and is expected to ramp up over two years, to deliver around 250,000 t of additional mined copper over the next 10 years alongside… Read More Here
Four firms shortlisted in race to buy Zambia’s Mopani Copper Mines 10 Copper Mining in Zambia 

Four firms shortlisted in race to buy Zambia’s Mopani Copper Mines

Constance
China’s Zijin Mining and Norinco Group, South Africa’s Sibanye Stillwater and an investment vehicle owned by ex-Glencore officials have been shortlisted in the race to buy Zambia’s Mopani Copper Mines, two sources with knowledge of the matter told Reuters. Zambia’s mines minister Paul Kabuswe said in February there were 10 suitors for the mine and smelter complex that is owned by state firm ZCCM-IH. Rothschild & Co, hired last year to find investors for Mopani, has whittled down the list to four, the sources said. Switzerland-based commodities giant Glencore sold… Read More Here

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