Copper - Copperbelt Katanga Mining

Zijin Mining Reports 52% Profit Surge Amid Strong Copper and Gold Prices

March 22, 2025March 22, 2025 Constance

Zijin Mining Group, China’s largest metals producer, recorded a 52% increase in net profit in 2023, driven by higher production and rising copper and gold prices. The company reported a net income of 32.1 billion yuan ($4.4 billion), aligning with its forecast of 32 billion yuan, while revenue climbed 3.5% to 303.6 billion yuan. Over the past decade, Zijin has aggressively expanded its global presence, establishing major copper projects in China and the Democratic Republic of Congo. As securing critical mineral supply becomes a growing concern for global powers, Chairman… Read More Here

Mining in DRC Cobalt Copper

Chemaf Scraps Norin Mining Deal Amid US-China Mineral Tensions

March 22, 2025March 22, 2025 Constance

Copper and cobalt producer Chemaf Resources Ltd. has abandoned its planned sale to Norin Mining Ltd., marking a potential victory for US efforts to curb China’s influence over global mineral supply chains. The deal collapsed after Democratic Republic of Congo (DRC) authorities failed to approve the transaction, according to a source familiar with the matter. Chemaf, backed by commodity trader Trafigura Group, informed creditors that the sale to Norin—a subsidiary of China’s state-owned Norinco Group—would not proceed. Congo’s state-owned mining company, Gécamines, which holds the permit for Chemaf’s Mutoshi cobalt… Read More Here

Mining in DRC Battery Metals Cobalt Copper

CMOC Posts Record Earnings in 2024 on Strong Cobalt and Copper Output

March 22, 2025March 22, 2025 Constance

China’s CMOC Group Ltd., the world’s largest cobalt producer, reported record earnings in 2024, driven by increased production, higher sales, and rising copper prices. The company’s net income surged 64% to 13.5 billion yuan ($1.9 billion), surpassing analysts’ estimates of 12.3 billion yuan. Revenue rose 14% to 213 billion yuan, also exceeding forecasts. CMOC attributed its strong performance to capacity expansions and efficiency improvements. “Mining is a cyclical industry, and accurately understanding market cycles is key to successful expansion,” the company stated in its earnings report. “At the bottom of… Read More Here

International Copper Corporate News

Panama Awaits Formal Notice on First Quantum’s Arbitration Suspension

March 22, 2025March 22, 2025 Constance

PANAMA CITY – Panamanian President Jose Raul Mulino stated on Thursday that his government has yet to receive official notification from Canada’s First Quantum Minerals regarding the suspension of arbitration over its Cobre Panama copper mine. An internal memo from Cobre Panama, the company’s local unit, revealed last Friday that First Quantum had instructed its lawyers to begin suspending arbitration proceedings. The cases were originally filed after the Panamanian government shut down the mine in 2023 following widespread protests over environmental concerns. Mulino clarified that his administration cannot engage in… Read More Here

Copper Cobalt Economy Mining in DRC

Congo’s Copper and Cobalt Export Suspension Impacts Prices

March 22, 2025March 22, 2025 Constance

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

Copper Mining in DRC Mining in Zambia

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

March 16, 2025March 16, 2025 Constance

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

Mining in Zambia Copper New Mining Projects

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

March 16, 2025March 16, 2025 Constance

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

International Copper Corporate News

Panama Demands First Quantum Drop Legal Action for Mine Talks

March 16, 2025March 16, 2025 Constance

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

International Copper

Panama Clears First Quantum to Export Stockpiled Copper

March 15, 2025March 15, 2025 Constance

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

Copper Mining in DRC

China’s Refined Copper Imports Surge as Congo Supply Booms

March 13, 2025March 13, 2025 Constance

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