Copper - Copperbelt Katanga Mining

Copper Prices Projected to Rise as DRC and Zambia Prepare for Increased Production 1

Copper prices are anticipated to average around US$10,265 per tonne in the final quarter of 2024, according to estimates from Fastmarkets. Analysts at Reuters, a commodity price intelligence firm, suggest that positive economic outlooks in the United States and China will contribute to upward pressure on copper prices. Goldman Sachs has also predicted a gradual increase in copper prices in the coming months. The American bank projects that the price of copper will reach US$10,100 per tonne by 2025. This price rise is expected to enhance the revenues of copper… Read More Here

Mining in DRC Copper

DRC Govt Advocates for Involvement in Kamoa Copper Buyer Selection

October 19, 2024October 19, 2024 Constance

During a recent Council of Ministers meeting in Kinshasa, the Minister of Mines emphasized the necessity for the Congolese government to participate in the selection of buyers for Kamoa Copper. This mining company, located 25 kilometers west of Kolwezi in the Mutshatsha territory of Lualaba province, is recognized by international mining consultant Wood Mackenzie as the largest undeveloped high-grade copper discovery in the world. The Democratic Republic of Congo (DRC) is Africa’s leading copper producer and ranks fifth globally, contributing 5% of total world production. The Kamoa mine is notable… Read More Here

Mining in DRC Cobalt Copper

Gecamines Bids for Chemaf Resources Amid Ongoing Controversy Over Chinese Sale

October 19, 2024October 19, 2024 Constance

The Democratic Republic of Congo’s state-owned miner, Gecamines, has submitted a bid for Chemaf Resources Ltd.’s unit in the country. This move comes months after Gecamines announced its intention to block a previous deal that would sell the copper and cobalt miner to a Chinese investor. Chemaf, which is backed by Trafigura Group, spent nine months searching for a buyer before announcing a sale to China’s Norin Mining Ltd. in June. Although Chemaf is still working to finalize that deal, it has faced opposition from the government and Gecamines, which… Read More Here

International Copper

Peru’s August copper output jumps 11% after five-month decline

October 19, 2024October 19, 2024 Constance

Peru’s copper production rose by 10.7% in August compared to a year earlier, reaching the highest level of any month this year, the Andean nation’s energy and mines ministry said on Wednesday, though accumulated output remained below 2023 levels. The monthly increase follows five months of consecutively lower year-on-year output. August’s production landed at 246,568 metric tons, bringing the accumulated output from January through August to 1.76 million metric tons, 0.7% less than in the same period in 2023, the ministry said. Peru, the world’s third largest copper producer, produced… Read More Here

Mining in Zambia Copper Mergers & Acquisitions Nickel

Saudi’s Manara Minerals Eyes Stake in First Quantum’s Zambian Mines

October 18, 2024October 18, 2024 Constance

Saudi Arabia’s Manara Minerals is close to finalizing a deal to acquire a minority stake in First Quantum Minerals’ Zambian copper and nickel assets, sources familiar with the matter told Reuters. Manara, a joint venture between Saudi mining company Ma’aden and the $925-billion Public Investment Fund, is in advanced discussions to purchase a 15% to 20% equity share in the Zambian operations. The stake is estimated to be worth between $1.5 billion and $2 billion. First Quantum’s sale of the stake is expected to be completed by year-end, though there… Read More Here

Mining in Zambia Copper Drilling

Tertiary Minerals Completes Inaugural Drilling at Mushima North Copper Project in Zambia

October 17, 2024October 17, 2024 Constance

Aim-listed Tertiary Minerals has successfully concluded its first drilling program at the Mushima North copper project in Zambia. The objective was to test the A1 and C1 copper, zinc, and arsenic soil anomalies identified through last year’s soil sampling. The program involved drilling 25 reverse circulation holes, reaching a maximum depth of 112 meters, with three drill traverses at the A1 anomaly and one at the C1 anomaly. Tertiary is now conducting portable X-ray fluorescence analysis on the samples, with selected samples being sent to an independent laboratory for further… Read More Here

Mining in DRC Cobalt Copper Corporate News

Metalkol Enters Copper Mark for Sustainable Production in the DRC

October 17, 2024October 17, 2024 Constance

Eurasian Resources Group’s (ERG) Metalkol operation in the Democratic Republic of Congo (DRC) has officially entered the Copper Mark assurance process, following a letter of commitment signed on September 12. The Copper Mark, an assurance framework launched in 2020, is aimed at promoting responsible mineral sourcing and production across the copper, nickel, molybdenum, and zinc value chains. The assurance process is voluntary, transparent, and independent, involving third-party assessments by approved assessors. These evaluations will verify whether Metalkol meets the stringent requirements for responsible production practices. By participating in this process,… Read More Here

Mining in Zambia Cobalt Copper Events & Expos Press Release

Anglo American Highlights the Vital Role of Zambian Capital Markets for Mining Sector Growth

October 13, 2024October 13, 2024 Constance

A strong and vibrant local capital market is essential to attract foreign institutional investors to Zambia’s mining sector, said Norman Mbazima, senior Anglo American executive for the last 20 years and Chairman of Anglo American Platinum. Speaking at the Zambian Mining and Investment Insaka last week, Mr Mbazima underscored the critical importance of creating a conducive investment climate to unlock the country’s mining potential. Participating in a panel discussion titled “Mining Beyond Copper: What’s in it for Zambia?”, Mr Mbazima joined a group of esteemed experts to explore the past,… Read More Here

Mining in DRC Cobalt Copper Events & Expos

Glencore’s 6th Annual DRC Mining Conference Highlights ESG and Sustainability Efforts

October 13, 2024October 13, 2024 Constance

On October 8, 2024, Glencore held its 6th annual conference in Kinshasa, Democratic Republic of Congo (DRC), bringing together key stakeholders to address crucial issues in the country’s mining sector. The event, an essential platform for industrial miners like Glencore, emphasized the promotion of Environmental, Social, and Governance (ESG) standards, traceability, and sustainability. Glencore has been a significant player in the DRC since 2007, contributing substantially to the nation’s economy through its copper and cobalt production. Its major assets include Kamoto Copper Company (KCC), co-owned with Gécamines (25% stake), and… Read More Here