Copper - Copperbelt Katanga Mining

Norinco Revises Bid for Chemaf’s Congo Mines, Offering Bigger State Stake

February 21, 2025February 21, 2025 Constance

China North Industries Corp (Norinco) has revised its $1.4 billion bid to acquire copper and cobalt assets from Chemaf SA by offering the Democratic Republic of the Congo (DRC) a larger stake to ease government concerns, sources familiar with the matter told Reuters. Norinco’s offer, initially submitted in June 2023, stalled after Congo’s state miner, Gécamines, made its own unsolicited bid for the assets. The situation has been further complicated by U.S. efforts to curb China’s dominance in the mineral-rich Copperbelt. To push the deal forward, Norinco has proposed increasing… Read More Here

Mining in Zambia Copper New Mining Projects

Jubilee Metals Ramps Up High-Grade Copper Processing at Roan Facility

February 19, 2025February 19, 2025 Constance

Jubilee Metals Group (LON: JLP) has begun processing high-grade copper feed material at its Roan concentrator in Zambia, marking a key milestone in its operational strategy. The facility had previously relied on low-grade waste material for copper production. This development follows Jubilee’s recent agreement to secure an initial 200,000 tonnes of material with a copper content of approximately 1.6%—more than double the 0.7% grade of previously processed material at Roan. Payment for this high-grade material will be made through Jubilee’s Zambian operations, along with the issuance of $2.7 million worth… Read More Here

Mining in DRC Cobalt Copper Corporate News

Glencore Rejects Unsolicited Bid for DRC Operations

February 17, 2025February 17, 2025 Constance

Miner and commodity trader Glencore has confirmed that it rejected an unsolicited offer for its operations in the Democratic Republic of Congo (DRC) at the end of last year. “Glencore has not engaged any banks or advisors and is not running a sale process for its operations in the DRC,” a company spokesperson stated in an email. Earlier, the Financial Times reported that Glencore had considered selling part or all of its Congolese assets and had engaged in preliminary discussions with a potential buyer from the Middle East regarding its… Read More Here

Mining in Zambia Copper Corporate News New Mining Projects

FQM’s Kansanshi S3 Expansion to Strengthen Growth and Financial Resilience

February 16, 2025February 16, 2025 Constance

First Quantum Minerals’ Kansanshi S3 Expansion project in Zambia marks a pivotal moment for the Canadian mining company, enhancing its financial resilience and driving future growth, CEO Tristan Pascall has stated. Reporting on the company’s fourth-quarter results, Pascall confirmed that the expansion remains on track for completion by mid-2025, with significant progress in construction and commissioning. By the end of 2024, construction of the process plant had reached 62% completion, with early commissioning already underway. System configuration for the plant’s control system was 80% complete, focusing on cleaner and reagent… Read More Here

Mining in DRC Copper

DRC Central Bank Reports Copper Price Rise Amid Global Trade Adjustments

February 15, 2025February 15, 2025 Constance

The Central Bank of Congo (BCC) has released its latest economic outlook, covering the period from January 31 to February 7, 2025. The report highlights fluctuations in key commodity prices, reflecting global market dynamics and geopolitical influences. Copper prices rose to $9,412.75 per tonne, marking a 3.68% weekly increase. The report attributes this rise to improved market confidence following the U.S. administration’s decision to postpone new customs duties on imports from key trade partners, including Canada, Mexico, and China. On a year-to-date basis, copper prices have gained 7.10%. In contrast,… Read More Here

Copper International

Peru’s Copper Output Declines for First Time in Four Years

February 15, 2025February 15, 2025 Constance

Peru’s copper production in 2024 totaled 2,736,150 metric tons, marking a 0.7% decline from 2023, according to the country’s mining ministry. This drop ends four consecutive years of post-pandemic recovery. Industry analysts had anticipated stable production of around 2.8 million metric tons for both 2024 and 2025, citing declining ore grades and a lack of new projects. The Democratic Republic of the Congo surpassed Peru as the world’s second-largest copper producer in 2023, though Congo has yet to release its full-year figures for 2024. Despite the overall decline, Peru’s copper… Read More Here

Corporate News Copper International

First Quantum’s Cobre Panama Arbitration Delayed to 2026

February 14, 2025February 14, 2025 Constance

First Quantum Minerals announced on Tuesday that the final hearing for the Cobre Panama mine arbitration under the International Chamber of Commerce (ICC) has been postponed to February 2026 from its previously scheduled date in September 2024. The Cobre Panama mine, one of the world’s largest copper producers, was shut down in November 2023 after Panama’s Supreme Court ruled its contract unconstitutional. Widespread environmental protests further pressured authorities to close the operation. The Canadian miner stated that the Panamanian government requested an extension of its arbitration submission deadlines due to… Read More Here

Mining in Zambia Copper Corporate News

First Quantum Takes Cautious Approach to Selling Zambian Mine Stake

February 14, 2025February 14, 2025 Constance

First Quantum Minerals is in no rush to sell a minority stake in its Zambian copper mines, CFO Ryan MacWilliam told analysts following the company’s fourth-quarter results. The Toronto-based miner aims to secure a long-term partner but has set no fixed timeline for the sale. “We have been consistent throughout that any arrangements we enter into in Zambia will be for the next 25 years,” MacWilliam stated. “It’s really about getting the right agreement rather than a quick agreement.” Saudi Arabian mining firm Manara is reportedly in advanced discussions to… Read More Here

International Copper Corporate News New Mining Projects

Ivanhoe Electric Plans $60 Million Public Offering for Arizona Copper Project

February 14, 2025February 14, 2025 Constance

Ivanhoe Electric (NYSE American: IE) (TSX: IE) is set to raise $60 million through a public offering of units priced at $5.85 each. The funds will be allocated toward advancing the company’s Santa Cruz copper project in Casa Grande, Arizona. The offering will issue approximately 10.25 million units, each consisting of one common share and one warrant with an exercise price of $7.00 per share. On Wednesday, the stock traded at $6.09 in New York, reflecting a 3% intraday gain and a market capitalization of $733.6 million. Initially targeting $50… Read More Here

New Mining Projects Copper Gold News in Brief

African Pioneer Secures £420,000 to Advance Namibia Copper-Gold Project

February 10, 2025February 10, 2025 Constance

London-listed African Pioneer has raised £420,000 from existing and new shareholders to advance its Ongombo copper-gold project in Namibia and support activities in Zambia and Botswana. The funds will be used to analyze gold distribution and its association with copper and magnetite quartzite, assess orebody-wide gold distribution, and plan drillholes in underexplored areas. Additionally, external mining and resource consultants will refine resource estimates for open-pit mineralization and provide recommendations for infill drilling to enhance the overall resource base. The capital will also support discussions with a preferred mining contractor for… Read More Here