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Category: Copper

Kamoa-Kakula Achieved a Record 45,019 Tonnes of Copper in November 1 Mining in DRC Copper Economy 

Kamoa-Kakula Achieved a Record 45,019 Tonnes of Copper in November

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Kolwezi, Democratic Republic of Congo – Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) Executive Co-Chairman Robert Friedland and President Marna Cloete announced that the Phase 1, 2, and 3 concentrators at the Kamoa-Kakula Copper Complex in the Democratic Republic of the Congo (DRC) achieved a monthly combined production record of 45,019 tonnes of copper in concentrate during the 30 days of November. The concentrators milled 1.2 million tonnes of ore at an average feed grade of 4.58% copper. Production for the year to November 30, 2024, from Kamoa-Kakula now totals 390,061 tonnes of… Read More Here
Panama Divided Over Future of Cobre Panamá Mine Amid Environmental and Economic Concerns 2 International Copper 

Panama Divided Over Future of Cobre Panamá Mine Amid Environmental and Economic Concerns

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A recent nationwide survey in Panama has revealed strong divisions among the population regarding the potential reopening of First Quantum’s $6.5 billion Cobre Panamá copper mine, which has been closed for over a year following a presidential decree. Commissioned by ARCA Media en Direct and conducted by research firm DOXA, the survey involved 1,600 face-to-face interviews across the country, including 400 participants from communities near the mine. The results show a nation torn between concerns about environmental impacts and governance issues, and the mine’s vital economic role. The closure of… Read More Here
Chile to Invest $83 Billion in Mining Projects Through 2033 3 International Copper 

Chile to Invest $83 Billion in Mining Projects Through 2033

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Chile plans to invest approximately $83.18 billion in mining projects between now and 2033, according to a study by state-run agency Cochilco, cited in a newspaper report on Tuesday. This marks a 27% increase from last year’s investment estimate. The Cochilco report, set to be presented on Wednesday, outlines 51 projects across the country, which is the world’s largest producer of copper and the second-largest producer of lithium, a crucial element for rechargeable batteries. Chile’s Diario Financiero reported that the Cochilco study did not include the recently announced $14 billion… Read More Here
Copper Price Stability Crucial for DRC’s Economic Future 4 Copper Economy Mining in DRC 

Copper Price Stability Crucial for DRC’s Economic Future

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The price of copper on global markets reached USD 9,044.50 per tonne, marking a slight increase of 0.04% compared to the previous week. This stability is crucial for the Democratic Republic of Congo (DRC), one of the world’s top producers of copper, a key metal in the global economy. Copper accounts for a significant portion of the DRC’s exports, making it a cornerstone of the national economy. The country has experienced a steady rise in copper prices over recent years, with prices even reaching historic highs. In 2023, copper exports… Read More Here
Zambia-DRC Officials Visit Kamoa Copper to Advance Development 5 Mining in DRC Copper Mining in Zambia 

Zambia-DRC Officials Visit Kamoa Copper to Advance Development

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On Thursday, November 21, 2024, Kamoa Copper SA welcomed Zambia’s Minister of Infrastructure, Housing, and Urban Development, Engineer Charles Milupi, alongside Her Excellency the Governor of Lualaba, Madam Fifi Masuka Saini. They were accompanied by the Provincial Minister of Infrastructure, Mr. Moise Mukepe Kahilu, and a delegation of Congolese and Zambian officials during a significant site visit. The visit coincided with the signing of a memorandum of understanding (MoU) between Zambia and the Democratic Republic of Congo (DRC) for the construction of the 145-kilometer Kolwezi–Lumwana road. This crucial infrastructure project… Read More Here
Patriot Lithium Secures Major Stake in Zambia’s Kitumba Copper Exploration License 6 Mining in Zambia Copper Exploration New Mining Projects 

Patriot Lithium Secures Major Stake in Zambia’s Kitumba Copper Exploration License

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Australian mining company Patriot Lithium has reached an agreement with Newlight Nominees Zambia to acquire a 90% stake in the Kitumba Copper Large Scale Exploration License. The 255 km² license is strategically situated near Sinomine’s newly inaugurated $600 million Kitumba Copper Mine, which boasts an annual production capacity of 50,000 tons. This proximity positions Patriot to capitalize on a region with established mining infrastructure and proven copper potential. Patriot Lithium paid an initial $25,000 signing fee and has a 12-month window to establish a Special Purpose Vehicle (SPV) to complete… Read More Here
DRC Considers Mineral Management for Energy Transition and 2050 Emergence 7 Mining in DRC Cobalt Copper 

DRC Considers Mineral Management for Energy Transition and 2050 Emergence

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From December 3 to 5, 2024, the government of the Democratic Republic of Congo (DRC), mining companies, and civil society convened in Kinshasa to discuss strategic actions for the country’s emergence by 2050, focusing on its critical minerals essential to the global energy transition. These include copper, cobalt, lithium, iron, nickel, manganese, germanium, tantalum, tungsten, tin, rare earths, phosphates, and geothermal deposits. The Ministry of Mines and the Resource Matters organization organized this forum to gather input from diverse stakeholders, contributing to the Congolese government’s development of a strategic plan… Read More Here
FQM Signs New Agreement with Unions to Enhance Salaries and Benefits for 2025-2026 8 Mining in Zambia Copper Economy 

FQM Signs New Agreement with Unions to Enhance Salaries and Benefits for 2025-2026

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First Quantum Minerals (FQM), through its subsidiaries Kansanshi Mining and FQM Trident, has signed a new agreement with six major unions to improve employee salaries and benefits for the years 2025 and 2026. Under the new agreement, eligible workers will receive a 15% salary increase starting in January 2025, followed by an additional 15% raise in 2026. . The deal also includes improved allowances for education and leave, enhanced pension contributions, and better rewards for long service. The unions involved in the agreement are the National Union of Miners and… Read More Here
FQM Partners with Zambian Govt to Upgrade Mutanda-Kaoma Road for Economic Growth 9 Mining in Zambia Copper Economy Infrastructural Development 

FQM Partners with Zambian Govt to Upgrade Mutanda-Kaoma Road for Economic Growth

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First Quantum Minerals (FQM) has partnered with the Zambian government to upgrade the 371-kilometre Mutanda-Kaoma road, a vital route for transporting materials and copper products to the ports of Walvis Bay and Durban. The initiative aims to improve Zambia’s road infrastructure, which is critical for strengthening the mining sector and driving economic growth. FQM Country Manager Dr. Godwin Beene highlighted the project’s alignment with Vision 2030 and the Eighth National Development Plan (8NDP). He emphasized its potential to enhance logistics efficiency, promote rural development, and unlock new economic opportunities. “This… Read More Here
Rio Tinto Sells 30% Stake in Winu Copper-Gold Project to Sumitomo for $399 Million 10 International Copper Corporate News Lithium 

Rio Tinto Sells 30% Stake in Winu Copper-Gold Project to Sumitomo for $399 Million

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Rio Tinto Plc has agreed to sell a 30% stake in its Winu copper-gold project in Western Australia to Japan’s Sumitomo Metal Mining Co. for $399 million. Under the terms of the deal, Sumitomo will pay $195 million upfront and an additional $204 million in deferred payments tied to development progress, Rio Tinto said in a statement on Wednesday. The two companies also plan to explore further partnership opportunities across copper, other base metals, and lithium. Katie Jackson, Rio Tinto’s Chief Executive of Copper, described the transaction as a “unique… Read More Here

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