Copper - Copperbelt Katanga Mining

Glencore trolley assist pilots set for its South American Copper mines

March 26, 2023March 26, 2023 Constance

Its just released 2022 Climate Change Report, global diversified miner Glencore outlines some details with regard to its approach, both near and long term, to reducing its Scope 1 carbon emissions. It says: “While most of our more immediate abatement opportunities are associated with the reduction of our Scope 2 emissions, we have identified several opportunities to reduce our Scope 1 emissions. These include operational efficiency improvements across all commodity departments that may result in, for instance, reduced diesel use, displacement of diesel with alternative fuels such as biodiesel and… Read More Here

International Battery Metals Cobalt Copper Nickel

Seafloor Mining lowers Battery metals’ Environmental impact, study finds

March 26, 2023March 26, 2023 Constance

The Metals Company (TMC) on Tuesday 21st of March released the results of a lifecycle assessment of the environmental impacts of the company’s NORI-D Polymetallic Nodule Project carried out by Benchmark Mineral Intelligence. TMC’s project in the Clarion Clipperton Zone (CCZ) in the Eastern Pacific Ocean, between Hawaii and Mexico aims to bring online the planet’s largest undeveloped deposit of battery metals. The nickel, cobalt, manganese and copper are found in potato-sized rock-like nodules The Benchmark study assessed, among others, the global warming potential, acidification, eutrophication, particulate matter formation and… Read More Here

Copper Mining in DRC

Copper to Trade at USD 8,948.00/ton on DRC’s BCC market as of March 23, 2023

March 23, 2023March 23, 2023 Constance

The price of copper should rise slightly from March 23, 2023, says experts from the Central Bank of Congo (BCC). According to the summary of statistical information published by this financial institution of the Democratic Republic of Congo (DRC), copper should sell at 8,948.00 USD per ton this Thursday, March 23, 2023 on the London Stock Exchange. The same document informs that at the beginning of this month of March 2023, the ton of copper was traded at 9,050.00 USD, i.e. a slight drop in price of around 102 USD.… Read More Here

Copper Equipment & Technology Exploration Mining in Zambia

On the ground with Kobold Metals at Mingomba in Zambia

March 22, 2023March 26, 2023 Constance

Since minerals exploration and development company KoBold Metals announced it was investing $150 million in developing a copper deposit in Zambia’s Copperbelt Province, the media has been abuzz about the role that “artificial intelligence” and “machine learning” played in discovering what is estimated to be a reserve containing 247 million tonnes of copper with an average grade of 3.6%. Mining For Zambia sat down with the company’s co-founder and President, Josh Goldman, to get an update on the project and find out how this mystical technology works. KoBold’s innovative approach to mineral… Read More Here

Mining in DRC Copper

DRC Govt holds a 20% direct stake in Ivanhoé Mines

March 19, 2023March 19, 2023 Constance

According to figures published on March 13, 2023 by Ivanhoé Mines, the direct participation of the Government of the Democratic Republic of Congo in the mining company is estimated at 20%. Indeed, Ivanhoe sold a 49.5% stake in Kamoa Holding Limited (Kamoa Holding) to Zijin Mining and a 1% stake in Kamoa Holding to private company Crystal River in December 2015. However, Kamoa Holding has an 80% stake in the project. Since the closing of the Zijin transaction, each shareholder has been required to fund expenses to Kamoa-Kakula in an… Read More Here

Copper Mining in DRC

DRC Govt thanks the Kamoa-Kakula Project, for Copper Production

March 19, 2023March 19, 2023 Constance

According to United States Geological Survey estimates, the Democratic Republic of the Congo produced an estimated 2.2 million tonnes of copper in fiscal year 2022. With this production, the country is now ranked the second largest copper producer in the world, tied with Peru. Indeed, United States Geological Survey informs that this achievement would not be possible without Kamoa-Kakula, the main copper mine of the fastest growing country on the planet. In addition, the official report published in March 2023 by Ivanhoé Mines indicates that production from the Kamoa-Kakula copper… Read More Here

Copper International

Glencore CEO says his company is cheapest way to benefit from Copper price boom

March 19, 2023March 19, 2023 Constance

Glencore Plc boss Gary Nagle said his company is the cheapest way to buy exposure to a coming copper boom as he predicted a renewed spree of dealmaking in the mining industry. The mining industry had largely turned its back on big-ticket deals after a series of disastrous transactions at the height of the last commodity boom, but a looming shortage of metal needed for the green energy transition is likely to drive a new wave of consolidation, Nagle said in an interview last week. Larger rivals BHP Group and… Read More Here

Copper International

First Quantum resumes operations at Panama Copper Mine

March 19, 2023March 19, 2023 Constance

First Quantum Minerals, the operator of the Cobre Panama mine, has resumed operations to normal levels at the mine, gold-focused royalty and streaming company Franco-Nevada Corp said last week Franco-Nevada has contributed a total of $1.36 billion to the construction of Cobre Panama and the mine accounted for 18% of the company’s revenue in 2021. Copper miner First Quantum owns a 90% interest in the mine through its unit Minera Panama SA (MPSA). First Quantum had suspended ore processing operations at the mine on Feb. 23 after a Panama government… Read More Here

Copper International

Ivanhoe Mines posts near tenfold profit Increase in 2022

March 15, 2023March 15, 2023 Constance

Shares of Ivanhoe Mines rallied on Tuesday 14th March after posting record highs in revenue and profit in 2022. The stock was up up 2.5% as of 11:30 Eastern Time in Toronto, valuing the company at C$13.9 billion ($10.1bn). On Monday, the southern Africa-focused miner announced its financial results for the year ended December 31, 2022, notching a record profit of $434 million, which represents a near ten-fold increase over the $45 million recorded in 2021. Its recognized revenue of $2.15 billion, operating profit of $1.27 billion and EBITDA of $1.39… Read More Here

International Contracts & tenders Copper

Panama and FQM agree on details for Copper Mine contract

March 13, 2023March 13, 2023 Constance

Panama’s government and Canada’s First Quantum Minerals agreed on the final text for a contract to operate a key copper mine, according to a statement signed by both parties Wednesday, 8th March. The new contract guarantees a minimum annual income of $375 million to the Central American government, and will be effective for 20 years with the option to renew for 20 more. “With this contract, Panama expects to receive about ten times more than what it was getting” under the previous contract, the statement added. The Canadian firm’s chief… Read More Here