Copper - Copperbelt Katanga Mining

Home Affairs Minister Tours FQM Zambia Mining Operations to Assess Security Status

May 18, 2023May 18, 2023 Constance

Minister of Home Affairs and Internal Security, Hon. Jack Mwiimbu, recently embarked on a tour of FQM’s Kansanshi Mining Plc in Solwezi and FQM Trident Limited in Kalumbila. The purpose of the tour was to gain a firsthand understanding of the security situation surrounding these two investments located in the North Western Province. Upon his arrival at Kansanshi Mining Plc, Hon. Mwiimbu was warmly received by General Manager Anthony Mukutuma. During their meeting, the Minister was informed about the persistent incursions by suspected criminals into FQM mining areas, who were… Read More Here

Copper Exploration Gold International New Mining Projects

First stone laid in Angola to commence the Tetelo Mine project

May 14, 2023May 14, 2023 Constance

Angola’s Minister of Mineral Resources, Oil and Gas, Diamantino Pedro Azevedo, officially laid the first stone for the construction of the Tetelo mine, for copper and gold exploration, in the town of Mavoio, municipality of Maquela do Zombo, in Uíge province on Thursday. The mine will be constructed in an area of 4 square kilometers over a period of 27 months, with a total cost of 205 million US dollars to the State. The first phase of production is expected to begin by the end of next year, with an… Read More Here

Copper Mining in Zambia

Accelovant Deploys Fiber-Optic Temperature Sensors at Kansanshi Mining PLC

May 11, 2023May 11, 2023 Constance

Accelovant, a developer of fiber-optic sensing solutions for various markets, has announced the deployment of its fiber-optic temperature sensors at Kansanshi Mining PLC, a company owned by First Quantum and located in Zambia. Kansanshi is one of the world’s largest and most productive copper mining and smelting sites. The deployment was made to replace older technology devices that were prone to failure in the wet electrostatic precipitators (ESPs) used to scrub dangerous toxins and pollutants from gas streams generated in the copper smelting process. According to Michael Goldstein, CEO for… Read More Here

Mining in Zambia Copper

Zambia’s Partnership with FQM Brings Stability to the Nation

May 8, 2023May 8, 2023 Constance

In a significant move, Zambia has opted for revenue-sharing in the jointly-owned Kansanshi Mine with global mining company First Quantum Minerals (FQM). This agreement is expected to bring much-needed stability to the Southern African nation’s finances while also ending a long-standing dispute. Zambia’s holding company, ZCCM-IH, which holds stakes in privately-owned large-scale copper mines, has announced that it will convert its dividend rights in Kansanshi Mine to a 3.1% revenue royalty. First Quantum Minerals (FQM) is the majority owner of Kansanshi Mine, and this move is expected to end a… Read More Here

Copper International

British billionaire with James Bond link boosts Orion Minerals

May 5, 2023May 5, 2023 Constance

There are plenty of reasons for investors to avoid Orion Minerals (ASX: ORN), a copper hopeful which has essentially gone nowhere over the past 10 years, and a few important reasons to take a closer look at a company showing signs of stirring. Negatives include its focus on assets in South Africa, a country struggling to escape its history, including a peculiar trait of designing complex financial structures which can be impenetrable to an outsider. Australians of certain age are likely to see Orion, which is listed in Australia and South… Read More Here

Copper Mining in DRC

Ivanhoe Mines reports Q1 2023 finances and construction/exploration update

May 5, 2023May 5, 2023 Constance

Kamoa-Kakula sold 86,777 tonnes of payable copper during the quarter and recognized record revenue of $689 million, as well as record EBITDA of $452 million ■ Ivanhoe Mines recorded Q1 2023 profit of $82 million, net of $31 million non-cash loss on the convertible bond fair valuation ■ Kamoa-Kakula produced 93,603 tonnes of copper in Q1 2023, including a record 34,915 tonnes of copper in March, following debottlenecking program completed ahead of schedule ■ Kamoa-Kakula’s quarterly cost of sales total $1.25 per lb. of payable copper; C1 cash costs of $1.42 per… Read More Here

Copper Mining in Zambia

Zambian miners call for Govt aid to stabilize Copperbelt mining industry

May 3, 2023May 3, 2023 Constance

The National Union of Miners and Allied Workers (NUMAW) has expressed concern over the desperate situation at Konkola Copper Mines (KCM) and Mopani Copper Mines (MCM) in Zambia, stating that both mines are relying on imports to survive. According to NUMAW National President Saul Simujika, KCM is only staying afloat through the importation of copper ore and concentrate from the Democratic Republic of Congo (DRC) because it is failing to meet in-house production targets. KCM was taken over by the government through a liquidation process after a dispute with its… Read More Here

Copper International

Friedland’s Copper and Africa Mining Predictions Coming True

April 30, 2023April 30, 2023 Constance

DEVELOPMENTS in Chile where the socialist government is looking at nationalizing a sector of its mining industry are bearing out the predictions made over the past few years at the Mining Indaba by billionaire mining entrepreneur Robert Friedland. The fall out is likely to be beneficial for African mining countries – in particular the Democratic Republic of Congo (DRC) and Zambia – as investors reduce their exposure to Chile and mining companies start to look elsewhere for new lithium and copper projects. Last week Chilean president Gabriel Boric announced plans to… Read More Here

Mining in DRC Copper

Kamoto Copper Company reports progress of local entrepreneurship program

April 29, 2023April 29, 2023 Constance

Kamoto Copper Company SA recently participated in the LINC conference in Kolwezi, Lualaba Province, Democratic Republic of Congo (DRC). The company presented its progress in supporting local businesses through the Local Entrepreneurship Development (EDP) program. The program aims to support Congolese entrepreneurs and has increased the proportion of spending with DRC-based suppliers from 25% in 2020 to 49% in 2022. Currently, the program has 220 projects underway, which include agricultural cooperatives, construction and transport companies, among others. KCC SA’s business development program has been designed to comply with Glencore compliance… Read More Here

Mining in Zambia Copper Corporate News

Over 20,000 Mining Employees Miss Out on NAPSA’s Benefits in Zambia

April 29, 2023April 29, 2023 Constance

Successive Zambian government has awarded tax and non-tax incentives to large-scale mining companies resulting in over 20,000 employees and ex-employees of Konkola Copper Mines (KCM) and Mopani Copper Mines (MCM) missing out on the National Pension Scheme Authority (NAPSA) partial withdrawal benefits even after working for over a decade for the two mining houses. Although the National Pension Scheme Amendment Bill 2023 has been signed into law, allowing for the partial withdrawal of pensions, about 12,000 KCM employees and ex-employees and over 10,000 Mopani employees and ex-employees do not qualify… Read More Here