Copper - Copperbelt Katanga Mining

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

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

Mining in Zambia Copper Corporate News

Mercuria Partners with Zambia in Metals Trading to Bolster Copper Access

December 21, 2024December 21, 2024 Constance

Mercuria Energy Group has entered into a metals trading partnership with Zambia, marking another instance of a major commodity trader collaborating with a resource-rich nation to secure critical materials. The Geneva-based company announced its alliance with Zambia’s Industrial Development Corporation (IDC) on Thursday. This move aligns with Mercuria’s strategy to expand its metals trading operations, spearheaded by Kostas Bintas, a former Trafigura Group executive. The initiative reflects the growing interest among trading houses to secure access to minerals essential for the global energy transition. For Mercuria, increasing exposure to copper… Read More Here

Copper International

Peru’s Copper Output Stagnates for a Third Consecutive Year

December 21, 2024December 21, 2024 Constance

Peruvian copper production is projected to remain flat in 2025, marking the third consecutive year of stagnant output, according to industry analysts and the country’s leading mining association, SNMPE. Challenges such as declining ore grades and a lack of new mining projects continue to cap production, even as global demand for copper surges. Peru, the world’s third-largest copper producer, was overtaken by the Democratic Republic of Congo (DRC) in 2023 for the second spot behind Chile. The decline in ore quality after years of extraction is straining miners’ ability to… Read More Here

Mining in Zambia Copper Economy

China Non-Ferrous Invests $100 Million in Zambia’s Shaft 28 Mine

December 18, 2024December 18, 2024 Constance

China Non-Ferrous Metal Company has emphasized its commitment to creating opportunities for the local community through its operations. Robert Kamanga, Deputy Chief Executive Officer of Shaft 28 Technical, announced significant progress in the mine’s dewatering process, supported by a $100 million investment. This development was highlighted during a visit to the mine in Luanshya by Water Development and Sanitation Minister, Collins Nzovu. Minister Nzovu noted that the dewatering process will not only help regulate the water levels of the Kafue River but will also benefit small-scale farmers by providing irrigation… Read More Here

Mining in Zambia Copper Mine Safety News in Brief

Mopani Copper Mine Smelter to Shutdown for Maintenance Until February 2025

December 18, 2024December 18, 2024 Constance

The smelter at Mopani Copper Mine in Mufulira will remain out of operation until the end of February 2025 due to a breakdown of the Oxygen Plant at the facility. Mopani Copper Mines Chief Executive Officer, Charles Sakanya, confirmed that the smelter will be temporarily shut down to allow for necessary maintenance work. Sakanya assured that the mine will maintain communication with all stakeholders throughout the refurbishment process. The announcement was made in a statement issued by Mopani Public Relations Manager, Nebert Mulenga. SOURCE:znbc.co.zm Read More Here

Mining in Zambia Copper Economy

KCM to Invest $700 Million in Boosting Copper Production

December 15, 2024December 15, 2024 Constance

Konkola Copper Mines (KCM) has announced a $700 million investment over the next five years to unlock the full potential of its operations in Chililabombwe, Zambia. KCM Chief Operating Officer Malcolm Mewett revealed that this investment constitutes a significant portion of the $1 billion pledged by Vedanta Resources Limited for KCM’s growth. He emphasized that the funds will primarily focus on underground developments at the Konkola Mine, enabling the extraction of vast copper reserves and significantly increasing production. “This investment will help the mine achieve its target of producing 300,000… Read More Here

Mining in DRC Cobalt Copper Economy

DRC Govt Takes Charge of Kamoa Mining Product Sales

December 15, 2024December 15, 2024 Constance

The Government of the Democratic Republic of Congo (DRC) has announced its direct involvement in the sale of mining products from Kamoa, a company in which the State holds a 20% stake. This move aims to better secure national economic interests within the crucial mining sector. Kamoa’s turnover is projected to reach $3 billion, and as part of this new strategy, the Government, through the Minister of the Portfolio, will oversee the pricing and sale of mining products. Minister Jean-Lucien Bussa made this announcement during the Estates General of the… Read More Here