Copper - Copperbelt Katanga Mining

Vedanta Seeks $1 Billion to Boost Konkola Copper Mines Production

February 9, 2025February 9, 2025 Constance

Vedanta Resources is looking to raise approximately $1 billion in debt financing to develop Zambia’s Konkola Copper Mines (KCM), according to Chris Griffith, head of the company’s base metals division. While Vedanta previously considered selling at least 30% of its 80% stake in KCM, Griffith indicated that a sale now appears unlikely. “There is a much higher likelihood that we can raise the funds through various financing options,” he told Reuters on the sidelines of the Mining Indaba conference in Cape Town. “We own 80% of the business and clearly,… Read More Here

Mining in DRC Copper Corporate News

Barrick Expands into Copper Exploration in the DRC

February 6, 2025February 6, 2025 Constance

Barrick Gold is advancing its copper exploration efforts in the Democratic Republic of Congo (DRC), having already secured exploration permits in Haut-Katanga, according to Cyril Mutombo, the company’s Country Director. Speaking at the Investing in African Mining Indaba on February 5, 2025, he emphasized that exploration is the foundation of any mining project. Barrick has significant expertise in copper production, with existing operations in Zambia and Pakistan. The company is investing over $3 billion in expanding its Zambian copper mine, while its Pakistan mine is expected to produce for nearly… Read More Here

Mining in Zambia Copper Events & Expos

Zambia to Introduce Local Content Law for Mining Sector

February 3, 2025February 3, 2025 Constance

Zambia is set to introduce a “Local Content” law this year, requiring mining companies to prioritize local contractors and suppliers when awarding contracts. The Citizens Economic Empowerment (Reservation of Goods and Services in the Mining Sector) Regulations aim to boost Zambian businesses by setting a threshold for contracts exclusively reserved for Zambian citizens. Mines Minister Paul Kabuswe announced the development ahead of the African Mining Indaba in Cape Town, South Africa, stating that stakeholder consultations on the draft framework are ongoing and the law will be enacted this year. “Once… Read More Here

Mining in Zambia Copper Economy New Mining Projects

Ming’omba Mine to Boost Zambia’s Copper Production Target

February 2, 2025February 2, 2025 Constance

President Hakainde Hichilema has reaffirmed that the projected increase in copper production at Ming’omba Mine will contribute significantly to Zambia’s goal of reaching 3 million tonnes of copper output by 2031. Speaking at State House in Lusaka during a meeting with a delegation from KoBold Metals, President Hichilema emphasized that every mining asset in the country must play a role in achieving this target. He urged the company to intensify efforts and accelerate production where possible. The President expressed satisfaction that Ming’omba Mine has already employed over 500 workers and… Read More Here

Mining in Zambia Copper Corporate News Press Release

Barrick’s Lumwana Mine Fuels Zambia’s Economic Growth With Major Expansion on the Horizon

January 27, 2025January 27, 2025 Constance

Lumwana Mine, Zambia – Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) has reaffirmed its commitment to Zambia’s economic growth, contributing over $3.7 billion since 2019. In 2024 alone, Lumwana’s operations contributed $887 million to the economy through royalties, taxes, salaries and procurement of goods and services, solidifying its position as one of the nation’s top five taxpayers. Copper production for 2024 was within guidance, supported by investments in operator training and an upgraded ultra-class fleet. Lumwana remains a leader in advancing local content, with 72% of the $906 million spent on goods and services in… Read More Here

Mining in Zambia Copper Economy

Zambia’s Mining Sector Sees Promising Turnaround with Policy-Driven Resilience

January 26, 2025January 26, 2025 Constance

Zambia’s mining sector has shown a promising turnaround, with economic expert Kelvin Chisanga commending its resilience and policy-driven improvements. Reflecting on the sector’s performance, Chisanga highlighted that despite a 20% decline in production in 2023, the 12% growth recorded in 2024 demonstrates the effectiveness of government policies and the commitment of key stakeholders. “The positive growth can largely be attributed to the government’s efforts to resolve legacy issues at Mopani Copper Mine and Konkola Copper Mine,” Chisanga stated. He acknowledged the significant contributions of major players such as Barrick Gold… Read More Here

Mining in Zambia Copper

Zambia’s Mines Minister Highlights Strong Growth in Mining Sector

January 23, 2025January 23, 2025 Constance

Zambia’s mining sector is experiencing significant growth, as Minister of Mines Paul Kabuswe highlighted during a press conference on January 22, 2025. The sector’s robust performance, driven by increased copper production and enhanced employment figures, is contributing to economic growth and local development. Copper production rose by 12% in 2024, with notable contributions from Lumwana and First Quantum Mines. Mopani Copper Mines also saw impressive results, including a workforce increase from 10,765 to 12,684 employees, alongside a rise in copper grades from 1.68% to 2.21%. As a result, production surged… Read More Here

Mining in Zambia Copper Economy

Zambia Pins Economic Revival Hopes on Mining Sector Amid Drought Challenges

January 22, 2025January 22, 2025 Constance

Zambia is looking to the mining sector for an economic recovery after facing a sharp slowdown in growth due to the worst drought in living memory, according to Finance Minister Situmbeko Musokotwane. Speaking at an event discussing the economic outlook, Musokotwane highlighted that new mines were set to open soon, and existing mines were reinvesting to boost production. “If all goes according to plan, 2025 should mark the start of this revival, and it will strengthen year after year,” he said. The government estimates that copper production in 2023 exceeded… Read More Here

International Copper Gold New Mining Projects

Reko Diq Copper and Gold Project to Boost Pakistan’s Economy with $74 Billion in Cash Flow

January 20, 2025January 20, 2025 Constance

The Reko Diq copper and gold project in Pakistan is expected to generate approximately $74 billion in free cash flow over the next 37 years, according to Barrick Gold CEO Mark Bristow. The project, which Barrick co-owns with the governments of Pakistan and Balochistan, is considered one of the world’s largest underdeveloped copper-gold deposits, and its development is expected to have a significant positive impact on Pakistan’s struggling economy. Barrick holds a 50% stake in the mine, with the remaining ownership split between the federal and provincial governments of Pakistan.… Read More Here

Cobalt Copper Mining in DRC

USA Invests $2 Million to Promote Responsible Artisanal Mining in DRC

January 20, 2025January 20, 2025 Constance

The United States has announced a $2 million investment aimed at supporting responsible artisanal copper and cobalt mining in the Democratic Republic of Congo (DRC). The U.S. government’s initiative, detailed in a press release by the United States Agency for International Development (USAID) on January 16, seeks to promote ethical mining practices of these essential metals, which play a crucial role in the global energy transition. The U.S. commitment aligns with the Congolese government’s efforts to reform the artisanal mining sector. USAID funding will support the state-owned company EGC in… Read More Here