Copper - Copperbelt Katanga Mining

Copper Price Rises Amid Positive Chinese Economic Data and US Election Speculation 1

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

Copper Mining in Zambia New Mining Projects

Zambia National Service to Launch Copper Mine in North-Western Province by 2027

October 31, 2024October 31, 2024 Constance

Zambia National Service (ZNS) Commander, Lt. General Maliti Solochi, has announced plans to open a new copper mine in Zambia’s North-Western Province by 2027. This new project will complement ZNS’s existing mining operations in Kitwe, Copperbelt Province, as the service expands its role in national economic activities alongside its security mandate. Lt. General Solochi emphasized the military’s role in pioneering development projects, stating, “Just as the internet began with the military, certain innovations often start within the armed forces before being extended to the civilian population. The military should be… Read More Here

Mining in Zambia Copper Economy

FQM REPORTS 13% RISE IN COPPER PRODUCTION FOR Q3

October 29, 2024October 29, 2024 Constance

First Quantum Minerals (FQM) has reported a 13 percent increase in copper production for the third quarter of this year, accompanied by a doubling of income tax payments globally. Production at the company’s Kansanshi mine in Solwezi rose to 49,810 tonnes of copper up 20 percent or 8,303 tonnes compared with the previous quarter, while its Sentinel mine in Kalumbila produced 58,412 tonnes, up 9 percent or 4,817 tonnes compared with the second quarter of 2024. “While it is pleasing to see continued strong operational performance from the Zambian operations… Read More Here

Mining in Zambia Copper

Zambia Backs Geological and Minerals Development Bill 2024

October 27, 2024October 27, 2024 Constance

The Government of Zambia, through the Ministry of Mines and Minerals Development, and the Zambia Chamber of Mines have expressed their support for the Geological and Minerals Development Bill 2024. This announcement follows a high-level stakeholder engagement meeting held last week. The event, organized under the Public Private Dialogue Forum (PPDF), brought together representatives from the Chamber of Mines, the Mine Suppliers Association, civil society organizations, chambers of commerce, multilateral organizations, the diplomatic community, and policy think tanks to review and discuss the Bill. Both the Ministry and the Chamber… Read More Here

Copper Cobalt Mining in DRC

DRC Solidifies Position as Leading Global Producer of Cobalt and Copper from 2018 to 2022

October 27, 2024October 27, 2024 Constance

Between 2018 and 2022, the Democratic Republic of Congo (DRC) solidified its status as the world’s largest producer of cobalt and the second-largest producer of copper. According to the International Monetary Fund (IMF), the DRC generated an average of $5.5 billion annually in mining revenues during this period, a notable increase from $4 billion between 2013 and 2017. This surge in revenue is further supported by analyses from various media outlets, including Bankable, a subsidiary of the Ecofin Agency, highlighting the DRC’s strategic significance in supplying critical raw materials. As… Read More Here