Copper - Copperbelt Katanga Mining

Chinese Copper Smelters Face Pressure to Slow Expansion Amid Global Profitability Concerns 1

Chinese copper smelters are under increasing pressure to rein in their rapid expansion, as oversupply threatens the industry’s profitability and raises concerns over the future viability of smelting operations globally. China, the world’s largest consumer of copper, is expected to produce nearly half of the world’s refined copper this year following a surge in smelter construction aimed at securing supplies critical to the energy transition. However, this expansion has led to fierce competition for limited raw materials, squeezing margins across the industry. The scale of China’s expansion poses risks to… Read More Here

Mining in Zambia Copper

Anglo American Reignites Investment in Zambia’s Copper Industry After 20 Years

November 13, 2024November 13, 2024 Constance

Zambia’s mining sector is poised for growth as Anglo American Corporation, led by CEO Duncan Wanblad, has shown renewed interest in the country’s vibrant copper industry. This marks a significant return nearly 20 years after the company’s exit, underscoring the robust potential Zambia’s mining sector continues to offer. During a recent visit, President Hakainde Hichilema warmly welcomed Anglo American’s renewed partnership, underscoring Zambia’s ambitious goal to reach an annual copper production target of 3 million tons. “Achieving this target will require strategic partnerships with reputable companies like Anglo American Corporation,”… Read More Here

Mining in Zambia Copper

CNMC to Invest $1.5 Billion in Luanshya Copper Mines Expansion and New Samba Project

November 13, 2024November 13, 2024 Constance

China Non-ferrous Mining Corporation Limited (CNMC) has announced plans to invest nearly $1.5 billion to rehabilitate and expand operations at Luanshya Copper Mines in Zambia. This major investment aims to increase production and modernize the mining facilities, supporting Zambia’s growing copper industry. The dewatering of Shaft 28, a critical step in the mine’s rehabilitation, is expected to be completed by the end of 2025, according to CNMC. Additionally, CNMC Chairperson Wen Gang stated the company’s interest in developing a new mining site, named Samba Mines, which will further boost Zambia’s… Read More Here

Mining in Zambia Copper Drilling

Arc Minerals Discovers Copper at All Drilled Targets in Zambia JV with Anglo American

November 8, 2024November 8, 2024 Constance

London-listed Arc Minerals has reported copper mineralization at each target drilled on its joint venture (JV) copper project with Anglo American in Zambia. The companies have identified priority targets for further investigation, and drilling is set to continue through Zambia’s rainy season. One high-priority target near Muswema has been elevated in importance due to its alteration mineralogy, which is similar to known deposits in the Domes region of the Zambian Copperbelt. Visible copper mineralization has been observed in core samples, according to Arc’s chairperson, Nick von Schirnding. Samples have been… Read More Here

International Copper

Copper Price Rises Amid Positive Chinese Economic Data and US Election Speculation

November 7, 2024November 7, 2024 Constance

Copper prices increased for a third consecutive day, driven by strong economic data from China and expectations that Beijing will announce further support measures. The industrial metal has gained over 2% since Thursday’s close, following reports showing that China’s services sector expanded last month at its fastest pace since July. This came after positive factory activity data from both official and private sources. These indicators suggest that China’s recent stimulus efforts might be starting to show results. The Chinese government is anticipated to unveil additional economic support measures during the… Read More Here

Mining in Zambia Copper Exploration New Mining Projects

Statunga Investments Secures Key License for Zambia’s Luansobe Copper Project Expansion

November 5, 2024November 5, 2024 Constance

Zambian mining firm Statunga Investments Limited has obtained an additional small-scale mining license for the Luansobe Copper Project in Zambia. This new license, numbered 34545-HQ-SML, is valid for ten years and authorizes the exploration and extraction of copper, as well as other base and precious metals, over a 384-hectare area. “We now have a second mining license for Luansobe, covering the underground resource area,” stated Colin Bird, Chairman of Galileo Resources. The license supports Galileo Resources’ strategy to develop both open-pit and underground resources at Luansobe. The company is also… Read More Here

Mining in Zambia Copper Corporate News

IRH Advances Sustainable Transformation at Zambia’s Mopani Copper Mines

November 3, 2024November 3, 2024 Constance

International Resources Holding RSC Ltd. (IRH), a natural resources subsidiary of 2PointZero, has shared updates on transformative initiatives underway at the Mopani Copper Mines in Zambia. Acquired in early 2024, IRH aims to establish Mopani as the Copperbelt’s most productive copper mine through technological innovation, sustainability, and workforce collaboration. Transforming Mopani Copper Mines IRH’s acquisition of Mopani Copper Mines aligns with a vision to modernize and decarbonize the operation, with a target to increase copper production to 200,000 tonnes annually within three years. This initiative supports Zambia’s national goal of… Read More Here

Mining in DRC Cobalt Copper

Ivanhoe Mines Issues Third Quarter 2024 Financial Results

November 3, 2024November 3, 2024 Constance

Ivanhoe Mines’ (TSX: IVN) (OTCQX: IVPAF) President Marna Cloete and Chief Financial Officer David van Heerden are pleased to present the company’s financial results for the three and nine months ended September 30, 2024. Ivanhoe Mines is a leading Canadian mining company developing and operating its four principal mining and exploration projects in Southern Africa: expanding production at the world-class Kamoa-Kakula Copper Complex in the Democratic Republic of Congo (DRC); ramping up the ultra-high-grade Kipushi zinc-copper-lead-germanium mine in the DRC; building the tier-one Platreef palladium, rhodium, nickel, platinum, copper and gold… Read More Here

Mining in Zambia Copper Mergers & Acquisitions

Saudi Arabia Nears Stake Acquisition in Zambian Copper Mine as Part of Mining Expansion

October 31, 2024October 31, 2024 Constance

Saudi Arabia is in the final stages of negotiating a stake in a Zambian copper mine, with expectations for a deal to close by year-end, according to Robert Wilt, CEO of Ma’aden, Saudi Arabia’s leading mining company. Speaking at the Future Investment Forum in Riyadh, Wilt indicated that discussions with the Zambian mine’s owners are progressing well. “We’re in advanced discussions with a company and a mine in Zambia, and we expect to finalize by year-end,” said Wilt, who also serves as vice chairman of Saudi Arabia’s international mining venture,… Read More Here

International Copper

Codelco Reports 4.9% Drop in Copper Output as it Aims for Production Recovery

October 31, 2024October 31, 2024 Constance

SANTIAGO – Chile’s state-owned mining giant, Codelco, reported 918,000 metric tons of copper production from January through September, marking a 4.9% decline from the same period last year, according to a filing with the country’s financial regulator on Wednesday. Copper production in the third quarter reached 338,000 metric tons, a 2% increase year-over-year, as Codelco works to address declining ore quality in its key deposits and boost output despite challenges with its priority mining projects. “This quarter, we reversed the downward trend and started to recover production. We will continue… Read More Here