Copper - Copperbelt Katanga Mining

FQMs’ Q1 earnings drop by over 80% due to operational challenges

April 28, 2023April 28, 2023 Constance

First Quantum Minerals, a Canadian mining company, reported a significant drop in earnings in Q1 2023, with profits falling by over 80% to $75 million compared to $385 million in the same period last year. The decline in earnings was attributed to a series of operational challenges affecting the company’s top three operations. Copper production in Q1 reached almost 139,000 tonnes, down 33% from the previous quarter, mainly due to a severe rainy season in Zambia and a standoff with the government of Panama, where the company runs the vast… Read More Here

DRC’s Glencore yields 61,800 tonnes of copper and 9,800 tonnes of cobalt in Q1 of 2023

April 28, 2023April 28, 2023 Constance

Through its mines in the Democratic Republic of Congo, Katanga and Mutanda, Glencore produced 61,800 tonnes of copper and 9,800 tonnes of cobalt in the first quarter of 2023, up 11.15% and 11.36% respectively year-on-year annual, according to its activity report published on April 21, 2023. The Swiss commodities giant says its overall quarterly copper production has nevertheless fallen by 5% compared to 2022, to 244,100 tonnes for all its mines. On analysis, this drop is linked in particular to the expected lower grades of the ore extracted over the… Read More Here

Copper Cobalt Mining in DRC Mining in Zambia

Eurasian Resources Group to Double Copper and Cobalt Production in DRC and Zambia with $1.8B Investment

April 26, 2023April 27, 2023 Constance

Eurasian Resources Group (ERG), a Kazakh company registered in Luxembourg, plans to invest US$1.8 billion in the development of its mines in the DRC. According to the words of the Managing Director of this company, Benedikt Sobotta, the company intends to develop the minerals produced in the Democratic Republic of Congo (DRC). ERG thus envisages significant production of copper and cobalt in this year 2023, with a focus on its mining operations in the Democratic Republic of Congo as well as in Zambia. “Regions like the DRC that produce the… Read More Here

Mining in DRC Copper

Ivanhoe Mines to Unveil First Quarter Financials on May 3rd

April 26, 2023April 26, 2023 Constance

Ivanhoe Mines will release its first quarter 2023 financial results before markets open on Wednesday, May 3, 2023. The company will hold a conference call with investors to discuss the results on the same day. The conference call will end with a question and answer session. Ivanhoe Mines is a Canadian mining company focused on advancing its three main projects in Southern Africa; the expansion of the Kamoa-Kakula copper complex in the DRC, the construction of the Platreef palladium-rhodium-platinum-nickel-copper-gold project in South Africa; and the restart of the historic ultra-high-grade zinc-copper-germanium-silver mine at… Read More Here

Copper International

The price of copper reaches USD 9,001.0 per tonne on the international market (BCC)

April 23, 2023April 23, 2023 arnbethnic

The price of a tonne of copper rose by 0.69% on April 13, standing at 9,001.0 USD on the London Metal Exchange (LME) against 8,939.00 USD a week earlier. This is what the note on the economic situation of the Central Bank of Congo (BCC) provides. According to indications from the Central Bank of Congo, this rise in the price of copper is driven by the expansion of activities in China, particularly in the construction and automotive sectors. According to metal market experts, copper is expected to trade lower this… Read More Here

Copper Mining in Zambia

Anglo explores Zambia amid global Copper supply crunch

April 21, 2023April 21, 2023 Constance

ANGLO American is returning to full-scale exploration for copper in Zambia after signing the provisional JV agreement it struck with London-listed junior Arc Minerals in May last year. In terms of the deal Anglo will own up to 70% of the JV company in return for the investment of up to $88.5m including up to $14.5m in cash. Arc – through its subsidiary Unico – will retain a meaningful 30% stake in any exploration discovery made by the joint venture. According to John Meyer – analyst at London broking and research… Read More Here

Mining in Zambia Copper

Mining to Commence in Zambia’s Lower Zambezi National Park Despite Environmental Concerns

April 21, 2023April 21, 2023 Constance1 Comment

Mwembeshi Resources Limited, the company granted a license to conduct copper mining in the Lower Zambezi national park, is expected to start production before the end of this year, according to Emmanuel Tembo, the Member of Parliament for FEIRA constituency. Tembo confirmed that preparations for mining have progressed, with the first production set to take place this year. The decision by Zambia’s ruling UPND government to proceed with the mine has raised concerns among environmental experts who have called for a halt to the project. They question how the country… Read More Here

Mining in DRC Copper

DRC Achieves Record Copper Production of 2 Million Tonnes Annually

April 21, 2023April 21, 2023 Constance

For the first time in its history, the Democratic Republic of Congo (DRC) exceeded the milestone of 2 million tonnes of copper produced annually. As a result, the country is competing for second place among the producing countries of the red metal in the world. In early 2023, the Mining Statistical Bulletin (BEM) published by the General Directorate of Mining Promotion and Sustainability, the Peruvian Ministry of Energy and Mines indicated that copper production showed a growth of 15.3% (224,976 Fine Metric Tons – TMF) in November 2022, compared to… Read More Here

Mining in DRC Battery Metals Copper

CMOC Resolves Mining Royalties Dispute in DRC

April 19, 2023April 19, 2023 Constance

China’s CMOC Group Ltd. has made a breakthrough in its long-running dispute with state-owned partner Gécamines over mining royalties in the Democratic Republic of Congo (DRC). This development could enable CMOC to begin exporting its stockpile of battery metals to global markets. According to a filing made by CMOC on the Hong Kong stock exchange on Wednesday 19th April, both companies have reached a “consensus on the royalties issue” at the Tenke Fungurume operation. The exports from Tenke, a major source of copper and one of the world’s largest cobalt… Read More Here

Mining in Zambia Copper

Zambia’s Mines Minister: Konkola Copper Mines Deal to Be Announced Soon

April 18, 2023April 18, 2023 Constance

According to Mines Minister Paul Kabuswe, the government will soon announce a deal for Konkola Copper Mines (KCM), reassuring Copperbelt residents that the negotiations underway will have a positive impact on the province’s economy. While speaking at the commissioning of a new classroom block at Kamenza Secondary School, Kabuswe urged residents to be patient as the government works towards securing a good deal for the mining giant. Kabuswe, who is also the Chililabombwe Member of Parliament, added that a contract for the rehabilitation of township roads in the border town… Read More Here