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Mining in Zambia Copper New Mining Projects

Zambia’s Nationwide Geological Mapping Survey Progresses

January 9, 2025January 12, 2025 Constance0 comment

On August 14, President Hakainde Hichilema launched Zambia’s first-ever high-resolution geological mapping survey to identify areas with untapped mineral deposits. This ambitious initiative is part of the government’s strategy to boost mineral exploration and achieve the goal of producing three million tons of copper annually by 2031. The survey, which employs advanced aerial geophysical technology, has already covered significant portions of the Western and North-Western provinces. Mines Permanent Secretary Hapenga Kabeta revealed that the survey divides the country into four zones, with Zone A focusing on these two regions. “Areas… Read More Here

Copper Mining in Zambia

KCM Boosts Production and Employment, Enhances Social Responsibility Under Vedanta

January 9, 2025January 9, 2025 Constance0 comment

Konkola Copper Mines (KCM) Plc has increased production by 8,000 metric tons over the past five months, a move that will help protect 12,500 jobs, according to KCM Board Chairman Dr. Moses Banda. In an interview, Dr. Banda highlighted significant achievements since Vedanta Resources took over the management of KCM. He welcomed the 20% salary increase and once-off bonus provided to employees. “In addition to supporting our workforce, we have also made substantial payments to our creditors. Vedanta paid $250 million to creditors, with all Scheme Class 1 creditors fully… Read More Here

Mining in Zambia Copper New Mining Projects

Lumwana’s Super Pit Expansion Officially Launched

January 8, 2025January 8, 2025 Constance0 comment

The development of a Super Pit at Barrick’s Lumwana copper mine was officially launched in October 2024 by the Zambian President, His Excellency Hakainde Hichilema, accompanied by members of his cabinet. Speaking at the groundbreaking ceremony also attended by the Barrick board of directors, Mark Bristow said a critical element of the Super Pit Expansion was its focus on creating a sustainable legacy through the development of local capacity within the region, which would benefit both local communities and businesses throughout the construction and operational phases. The expansion will need… Read More Here

Mining in DRC Copper Economy

Copper Prices Remain Volatile, Straining DRC’s Economy

January 4, 2025January 4, 2025 Constance0 comment

Copper, the Democratic Republic of Congo’s (DRC) main export product, continues to experience significant price fluctuations on international markets. According to the latest data from the National Commission of Mercuriales at the Ministry of Foreign Trade, the price of copper dropped to 8,824 US dollars per ton during the week of December 30, 2024, to January 4, 2025, marking a decrease of 1.33% compared to the previous week. This ongoing volatility is causing concern for the Congolese economy, which relies heavily on copper exports for revenue. Experts warn that these… Read More Here

Exploration Copper Corporate News New Mining Projects

KoBold Metals Raises $537 Million to Accelerate AI-Driven Mineral Exploration

January 3, 2025January 3, 2025 Constance0 comment

KoBold Metals, a Berkeley-based mining and artificial intelligence (AI) start-up backed by Bill Gates and Jeff Bezos, has raised $537 million in its latest funding round. This Series C round values the company at $2.96 billion and was co-led by existing investor T. Rowe Price and Durable Capital Partners. Other participants included Gates’ Breakthrough Energy Ventures, Andreessen Horowitz, and new backers like StepStone. With total funding of $1 billion to date, KoBold is positioning itself as a leading competitor in the critical minerals sector, challenging China’s dominance. The company specializes… Read More Here

Copper Economy Mining in Zambia

Zambia Partners with Mercuria and IDC to Enhance Copper Trade

January 3, 2025January 3, 2025 Constance0 comment

Independent energy and commodity group Mercuria has entered into a strategic joint venture (JV) partnership with Zambia’s state-owned Industrial Development Corporation (IDC) to establish a metals trading company through Industrial Resources Limited, a wholly owned IDC subsidiary. This partnership positions Zambia, Africa’s second-largest copper producer, to actively participate in minerals trading. Mercuria will support Zambia in building independent institutional marketing and trading capacity for its copper resources. “Our joint venture with IDC marks a significant milestone for Zambia as it positions itself more strategically in the global minerals market,” said… Read More Here

International Copper

China smelter group agrees to lower Q1 copper charges

December 28, 2024December 28, 2024 Constance

China’s top copper smelters agreed to price guidance for processing charges in the first quarter of 2025 that was lower than this quarter’s guidance, industry sources said on Thursday, reflecting a lingering shortage of copper concentrates. Smelter representatives at a meeting of the China Smelters Purchase Team in the commercial hub of Shanghai reached agreement on new guidance for copper concentrate processing treatment and refining charges (TC/RCs) at $25 per metric ton and 2.5 cents per pound, said four sources with knowledge of the matter. That was down 28.6% from… Read More Here

International Copper Corporate News

Panama president sees no immediate risk from First Quantum mine

December 28, 2024December 28, 2024 Constance

Panama’s President Jose Raul Mulino said a government report shows there are no immediate environmental or safety risks from Cobre Panama, the First Quantum Minerals Ltd. copper mine that was shut in 2023. Mulino cited a recent report conducted by the environment ministry, which examined minerals and other materials stored at the site. Mulino said the government will start to study a “conservation plan” for the mine in January. “Right now, there is no irreversible contamination,” Mulino said Thursday. “Even though it doesn’t represent an imminent risk for the country… Read More Here

Mining in Zambia Copper New Mining Projects

Midnight Sun Secures License Renewal for Solwezi Copper Project in Zambia

December 25, 2024December 25, 2024 Constance

Midnight Sun Mining Corp. (TSXV: MMA) announced Monday the renewal of the exploration license for Kazhiba, a key target area within its flagship 506-sq.-km Solwezi copper project in Zambia. The project is located just 10 km from the Kansanshi mine, Africa’s largest copper mining complex, operated by First Quantum Minerals (TSX: FM). Midnight Sun has an exploration agreement with First Quantum to develop the area. The Zambian government recently rectified an earlier error in rejecting the license renewal for Kazhiba. This resolution removes any doubts about the project’s future. “The… Read More Here

International Copper

Copper Stockpile at Panama’s Closed Cobre Mine Deemed Safe for Now

December 21, 2024December 22, 2024 Constance

Over 100,000 metric tons of copper concentrate remain stored at First Quantum Minerals’ Cobre Panama mine, which has been closed since November following a Panamanian Supreme Court ruling that invalidated the company’s contract. Panamanian President Jose Raul Mulino assured on Thursday that the stockpile currently poses no environmental risk. Cobre Panama, a major global source of copper, was shut down after environmental protests led to the court’s decision. Since then, global commodity markets have closely monitored Panama’s stance on the fate of the 130,000 tons of copper concentrate left behind.… Read More Here