Copper - Copperbelt Katanga Mining

Copper Price Stability Crucial for DRC’s Economic Future

December 6, 2024December 6, 2024 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

Mining in DRC Copper Mining in Zambia

Zambia-DRC Officials Visit Kamoa Copper to Advance Development

December 6, 2024December 6, 2024 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

Mining in Zambia Copper Exploration New Mining Projects

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

December 5, 2024December 5, 2024 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

Mining in DRC Cobalt Copper

DRC Considers Mineral Management for Energy Transition and 2050 Emergence

December 5, 2024December 5, 2024 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

Mining in Zambia Copper Economy

FQM Signs New Agreement with Unions to Enhance Salaries and Benefits for 2025-2026

December 5, 2024December 5, 2024 Constance

First Quantum Minerals (FQM), through its subsidiaries Kansanshi Mining and FQM Trident, has signed a new agreement with six major unions to improve employee salaries and benefits for the years 2025 and 2026. Under the new agreement, eligible workers will receive a 15% salary increase starting in January 2025, followed by an additional 15% raise in 2026. . The deal also includes improved allowances for education and leave, enhanced pension contributions, and better rewards for long service. The unions involved in the agreement are the National Union of Miners and… Read More Here

Mining in Zambia Copper Economy Infrastructural Development

FQM Partners with Zambian Govt to Upgrade Mutanda-Kaoma Road for Economic Growth

December 5, 2024December 9, 2024 Constance

First Quantum Minerals (FQM) has partnered with the Zambian government to upgrade the 371-kilometre Mutanda-Kaoma road, a vital route for transporting materials and copper products to the ports of Walvis Bay and Durban. The initiative aims to improve Zambia’s road infrastructure, which is critical for strengthening the mining sector and driving economic growth. FQM Country Manager Dr. Godwin Beene highlighted the project’s alignment with Vision 2030 and the Eighth National Development Plan (8NDP). He emphasized its potential to enhance logistics efficiency, promote rural development, and unlock new economic opportunities. “This… Read More Here

International Copper Corporate News Lithium

Rio Tinto Sells 30% Stake in Winu Copper-Gold Project to Sumitomo for $399 Million

December 5, 2024December 5, 2024 Constance

Rio Tinto Plc has agreed to sell a 30% stake in its Winu copper-gold project in Western Australia to Japan’s Sumitomo Metal Mining Co. for $399 million. Under the terms of the deal, Sumitomo will pay $195 million upfront and an additional $204 million in deferred payments tied to development progress, Rio Tinto said in a statement on Wednesday. The two companies also plan to explore further partnership opportunities across copper, other base metals, and lithium. Katie Jackson, Rio Tinto’s Chief Executive of Copper, described the transaction as a “unique… Read More Here

Mining in Zambia Copper Economy

Zambia Advances Mining Reforms to Boost Copper Production to 3 Million Metric Tonnes by 2031

December 3, 2024December 3, 2024 Constance

Zambia is advancing two mining reform bills aimed at transforming its mining sector and quadrupling copper production from the current 800,000 metric tonnes to 3 million metric tonnes annually by 2031. The Mining Regulations Commission Bill and the Geological and Minerals Development Bill will replace the Mines and Minerals Development Act of 2015, pending parliamentary approval and presidential assent following a multi-stakeholder consultation process. Chaanza Chifwepa, Principal Exploration Geologist at the Ministry of Mines and Minerals Development, explained during The Mining Show in Dubai that the reforms are designed to… Read More Here

Mining in DRC Copper Economy

Copper Prices to Fall 2.85% in November 2024, Impacts DRC Economy

November 30, 2024November 30, 2024 Constance

Copper, a key mineral for the Democratic Republic of Congo’s (DRC) economy, is expected to experience a notable price decline on international markets. Between November 25 and 30, 2024, copper is forecast to trade at USD 8,924.05 per ton, marking a 2.85% decrease from the previous period when it was priced at USD 9,186.25. This drop is part of a broader trend in which several other metals, including zinc, tin, gold, and silver, have also seen price reductions. Zinc is now trading at USD 29,490.05, down 0.64%, while gold has… Read More Here

Mining in Zambia Copper Corporate News Press Release

MIMOSA RESOURCES AND MKUSHI TRADITIONAL LEADERS INSPIRED BY FQM’S BLUEPRINT FOR SUSTAINABLE MINING

November 29, 2024November 30, 2024 Constance

Mimosa Resources and the traditional leadership from Chief Chitina’s chiefdom in Mkushi have expressed appreciation of First Quantum Minerals’ (FQM) blueprint for sustainable mining in Zambia following a tour of its Kansanshi Mine in Solwezi District, North-Western Province. The familiarisation tour was recently undertaken as part of wider stakeholder engagement efforts by Mimosa Resources to foster collaboration between traditional leaders, mining operators, and the local community for its Kashime Copper Project in Mkushi, underscoring its dedication to creating a model of mining that balances economic growth with environmental and social… Read More Here