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Category: Copper

Congo's Copper and Cobalt Export Suspension Impacts Prices 1 Copper Cobalt Economy Mining in DRC 

Congo’s Copper and Cobalt Export Suspension Impacts Prices

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The Central Bank of Congo (BCC) reported on March 19, 2025, a 3.3% decline in the price of copper per tonne compared to December 2024. This drop is attributed to concerns over the Congolese government’s suspension of copper exports to the global market. Since February 22, 2025, the price of copper has continued to decrease, by a 0.15% drop compared to the previous week. The BCC noted that copper prices have fallen by 11.97% since the end of December 2024 and have seen a staggering 60% decline over the past… Read More Here
Zambia and DRC to Lead Africa's Copper Industry Expansion in 2025 2 Copper Mining in DRC Mining in Zambia 

Zambia and DRC to Lead Africa’s Copper Industry Expansion in 2025

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Africa’s copper industry is set for significant expansion in 2025, with the Democratic Republic of Congo (DRC) and Zambia leading the charge. Both nations are ramping up production through new mining projects, increased exploration, and modernization of existing operations to meet growing global demand. Copper production surged across Africa in 2024, with top producers setting ambitious targets for further growth. In the DRC, output rose by 12.6% year-on-year, reaching 3.3 million metric tons—accounting for 11% of global supply. This increase was driven by the Phase Three Expansion of Ivanhoe Mines’… Read More Here
Prospect Resources Unveils Maiden Resource Estimate for Zambia’s Mumbezhi Copper Project 3 Mining in Zambia Copper New Mining Projects 

Prospect Resources Unveils Maiden Resource Estimate for Zambia’s Mumbezhi Copper Project

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ASX-listed Prospect Resources has announced a maiden mineral resource estimate (MRE) of 107 million tonnes at 0.5% copper, containing a total of 515,000 tonnes of copper at its Mumbezhi copper project in Zambia. The resources are distributed across the Nyungu Central and Kabikupa deposits. The MRE includes: Gold and cobalt resources at Mumbezhi have not yet been classified under the Joint Ore Reserves Committee (JORC) guidelines due to historical inconsistencies in cobalt assays and limited gold assay data. Additionally, comprehensive metallurgical testwork to assess potential recoveries of these byproducts has… Read More Here
Panama Demands First Quantum Drop Legal Action for Mine Talks 4 International Copper Corporate News 

Panama Demands First Quantum Drop Legal Action for Mine Talks

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Panama is urging First Quantum Minerals (TSX: FM) to immediately withdraw its legal proceedings against the government if the company is serious about negotiating a restart of its shuttered Cobre Panama mine. President Jose Raul Mulino announced that he has authorized the export of stockpiled copper concentrate from the open-pit mine, adding that First Quantum must compensate Panama since the material will be processed abroad. “The concentrate is being wasted, and Panama has invested heavily in it,” Mulino stated during a press conference in Panama City. “The mine’s future will… Read More Here
Panama Clears First Quantum to Export Stockpiled Copper 5 International Copper 

Panama Clears First Quantum to Export Stockpiled Copper

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First Quantum Minerals has received approval to begin exporting stockpiled copper from its halted Cobre Panama mine, signaling a possible shift toward negotiations for a restart. Panama’s President, José Raúl Mulino, announced on Thursday that he had authorized the shipment of copper concentrate accumulated at the mine, which has been shut down since late 2023. “I authorized the removal of the material that is just sitting there. It’s being wasted, and Panama has invested a significant amount of money in it,” Mulino stated. He added that First Quantum must reimburse… Read More Here
China’s Refined Copper Imports Surge as Congo Supply Booms 6 Copper Mining in DRC 

China’s Refined Copper Imports Surge as Congo Supply Booms

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China is set to increase its imports of off-exchange refined copper this year, driven by soaring production in the Democratic Republic of Congo (DRC) and concerns over potential supply disruptions from U.S. scrap restrictions, according to analysts and traders. The surge highlights China’s growing dependence on Congolese refined copper, which now accounts for a significant share of its imports. The DRC, bolstered by years of Chinese investment in mining, has become the world’s second-largest copper producer. Much of its exports to China consist of equivalent grade (EQ) copper—metal that meets… Read More Here
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BHP to Invest A$40 Million in Botswana Copper Exploration with Cobre

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Mining giant BHP has committed up to A$40 million to explore potential Tier 1 copper-silver deposits in Botswana through a partnership with Australia-listed Cobre. Announced on Monday, the agreement provides funding to advance Cobre’s Kitlanya East and Kitlanya West copper projects, located along the northern and southern basin margins of the Kalahari Copper Belt. Under the earn-in agreement, BHP will invest up to $25 million (approximately A$40 million) in exploration expenditure to acquire a 75% stake in the Kitlanya projects. An initial $5 million will be invested within the first… Read More Here
DRC’s Copper Exports Hit Record 3.1 Million Tonnes in 2024 7 Mining in DRC Copper Economy 

DRC’s Copper Exports Hit Record 3.1 Million Tonnes in 2024

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For the first time in its mining history, the Democratic Republic of Congo (DRC) exported a record 3.1 million tonnes of copper in 2024, according to a March 6 report from the Congolese Ministry of Mines. This represents a 13% increase from 2023, driven by strong performances from the country’s largest copper mines. Key Contributors to Growth Copper exports from the DRC could grow further in 2025, supported by a 3.7% increase in global demand, as forecasted by Commodity Insights. Additionally, the CRU Group estimates that the DRC’s copper output… Read More Here
Franco-Nevada’s Arbitration with Panama Advances as Hopes Rise for Cobre Panama Restart 8 International Copper 

Franco-Nevada’s Arbitration with Panama Advances as Hopes Rise for Cobre Panama Restart

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Arbitration between Franco-Nevada (TSX, NYSE: FNV) and Panama over the fate of the $10 billion Cobre Panama copper mine is progressing, with a tribunal set to hear the case in October 2026. The dispute follows the 2023 closure of the mine, which forced Franco-Nevada to take a $1 billion impairment charge. Franco-Nevada had a gold-copper streaming agreement with First Quantum Minerals (TSX: FM), the mine’s owner and operator. The legal uncertainty hasn’t deterred investor optimism, with Franco-Nevada’s stock reaching a 52-week high of C$212 per share and its market capitalization… Read More Here
Freeport-McMoRan Pushes for Copper’s Critical Mineral Status Amid U.S. Policy Shifts 9 International Copper 

Freeport-McMoRan Pushes for Copper’s Critical Mineral Status Amid U.S. Policy Shifts

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Freeport-McMoRan is urging U.S. President Donald Trump to designate copper as a critical mineral, a move that would unlock substantial tax credits under the Inflation Reduction Act and bolster domestic production, CEO Kathleen Quirk said Monday. Trump recently told Congress he would take “historic action to dramatically expand production of critical minerals,” though details remain unclear. Copper plays a crucial role in power generation, electronics, and construction, yet it is absent from the U.S. Geological Survey’s critical minerals list, which currently includes lithium, nickel, and 48 other minerals. If classified… Read More Here

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