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Category: Copper

Arbitration Proceedings Over Cobre Panama Mine Escalate as Investors Await Panama’s Decision 1 International Copper 

Arbitration Proceedings Over Cobre Panama Mine Escalate as Investors Await Panama’s Decision

Constance
Arbitration proceedings between Canadian miner Franco-Nevada and the government of Panama over the Cobre Panama copper mine entered a new phase this week with the formation of a tribunal to hear the case, according to legal filings. Investors are awaiting a crucial decision from Panama’s President, Jose Raul Mulino, regarding the future of the Cobre Panama mine, which was shut down last year due to public unrest. Cobre Panama is the flagship operation of Canadian miner First Quantum Minerals, which is also seeking damages from Panama. Franco-Nevada, which had a… Read More Here
Codelco and Enami Explore Collaboration on Copper Smelting Expansion 2 International Copper 

Codelco and Enami Explore Collaboration on Copper Smelting Expansion

Constance
Chile’s state-owned copper giants, Codelco and Enami, are in early discussions to consolidate their efforts to expand smelting capacity into a single project, according to sources familiar with the matter. A newly formed working group is exploring options for cooperation between two initiatives: Enami’s project to revamp its closed Hernan Videla Lira smelter and Codelco’s proposal to build a new smelting facility. The collaboration could range from aligning their projects to meet national processing needs to merging the two into a single venture. Strengthening Chile’s smelting capacity is a key… Read More Here
Zambia Seeks EU Support to Strengthen Mining and Economic Development 3 Mining in Zambia Copper Economy 

Zambia Seeks EU Support to Strengthen Mining and Economic Development

Constance
Zambia’s Minister of Mines and Mineral Development, Hon. Paul Kabuswe, has called on the European Union (EU) to bolster its support for Zambia’s mining sector and overall economic growth. The Minister made the appeal during a bilateral meeting with EU International Partnership Commissioner Jozef Sikela in Brussels. Hon. Kabuswe emphasized Zambia’s political stability, adherence to the rule of law, and peaceful environment as key factors in attracting European investors. He highlighted the mining sector’s impressive $10 billion investment growth over the past three years and acknowledged the EU’s valuable contributions… Read More Here
Kamoa-Kakula Achieved a Record 45,019 Tonnes of Copper in November 4 Mining in DRC Copper Economy 

Kamoa-Kakula Achieved a Record 45,019 Tonnes of Copper in November

Constance
Kolwezi, Democratic Republic of Congo – Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) Executive Co-Chairman Robert Friedland and President Marna Cloete announced that the Phase 1, 2, and 3 concentrators at the Kamoa-Kakula Copper Complex in the Democratic Republic of the Congo (DRC) achieved a monthly combined production record of 45,019 tonnes of copper in concentrate during the 30 days of November. The concentrators milled 1.2 million tonnes of ore at an average feed grade of 4.58% copper. Production for the year to November 30, 2024, from Kamoa-Kakula now totals 390,061 tonnes of… Read More Here
Panama Divided Over Future of Cobre Panamá Mine Amid Environmental and Economic Concerns 5 International Copper 

Panama Divided Over Future of Cobre Panamá Mine Amid Environmental and Economic Concerns

Constance
A recent nationwide survey in Panama has revealed strong divisions among the population regarding the potential reopening of First Quantum’s $6.5 billion Cobre Panamá copper mine, which has been closed for over a year following a presidential decree. Commissioned by ARCA Media en Direct and conducted by research firm DOXA, the survey involved 1,600 face-to-face interviews across the country, including 400 participants from communities near the mine. The results show a nation torn between concerns about environmental impacts and governance issues, and the mine’s vital economic role. The closure of… Read More Here
Chile to Invest $83 Billion in Mining Projects Through 2033 6 International Copper 

Chile to Invest $83 Billion in Mining Projects Through 2033

Constance
Chile plans to invest approximately $83.18 billion in mining projects between now and 2033, according to a study by state-run agency Cochilco, cited in a newspaper report on Tuesday. This marks a 27% increase from last year’s investment estimate. The Cochilco report, set to be presented on Wednesday, outlines 51 projects across the country, which is the world’s largest producer of copper and the second-largest producer of lithium, a crucial element for rechargeable batteries. Chile’s Diario Financiero reported that the Cochilco study did not include the recently announced $14 billion… Read More Here
Copper Price Stability Crucial for DRC’s Economic Future 7 Copper Economy Mining in DRC 

Copper Price Stability Crucial for DRC’s Economic Future

Constance
The price of copper on global markets reached USD 9,044.50 per tonne, marking a slight increase of 0.04% compared to the previous week. This stability is crucial for the Democratic Republic of Congo (DRC), one of the world’s top producers of copper, a key metal in the global economy. Copper accounts for a significant portion of the DRC’s exports, making it a cornerstone of the national economy. The country has experienced a steady rise in copper prices over recent years, with prices even reaching historic highs. In 2023, copper exports… Read More Here
Zambia-DRC Officials Visit Kamoa Copper to Advance Development 8 Mining in DRC Copper Mining in Zambia 

Zambia-DRC Officials Visit Kamoa Copper to Advance Development

Constance
On Thursday, November 21, 2024, Kamoa Copper SA welcomed Zambia’s Minister of Infrastructure, Housing, and Urban Development, Engineer Charles Milupi, alongside Her Excellency the Governor of Lualaba, Madam Fifi Masuka Saini. They were accompanied by the Provincial Minister of Infrastructure, Mr. Moise Mukepe Kahilu, and a delegation of Congolese and Zambian officials during a significant site visit. The visit coincided with the signing of a memorandum of understanding (MoU) between Zambia and the Democratic Republic of Congo (DRC) for the construction of the 145-kilometer Kolwezi–Lumwana road. This crucial infrastructure project… Read More Here
Patriot Lithium Secures Major Stake in Zambia’s Kitumba Copper Exploration License 9 Mining in Zambia Copper Exploration New Mining Projects 

Patriot Lithium Secures Major Stake in Zambia’s Kitumba Copper Exploration License

Constance
Australian mining company Patriot Lithium has reached an agreement with Newlight Nominees Zambia to acquire a 90% stake in the Kitumba Copper Large Scale Exploration License. The 255 km² license is strategically situated near Sinomine’s newly inaugurated $600 million Kitumba Copper Mine, which boasts an annual production capacity of 50,000 tons. This proximity positions Patriot to capitalize on a region with established mining infrastructure and proven copper potential. Patriot Lithium paid an initial $25,000 signing fee and has a 12-month window to establish a Special Purpose Vehicle (SPV) to complete… Read More Here
DRC Considers Mineral Management for Energy Transition and 2050 Emergence 10 Mining in DRC Cobalt Copper 

DRC Considers Mineral Management for Energy Transition and 2050 Emergence

Constance
From December 3 to 5, 2024, the government of the Democratic Republic of Congo (DRC), mining companies, and civil society convened in Kinshasa to discuss strategic actions for the country’s emergence by 2050, focusing on its critical minerals essential to the global energy transition. These include copper, cobalt, lithium, iron, nickel, manganese, germanium, tantalum, tungsten, tin, rare earths, phosphates, and geothermal deposits. The Ministry of Mines and the Resource Matters organization organized this forum to gather input from diverse stakeholders, contributing to the Congolese government’s development of a strategic plan… Read More Here

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