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Category: Copper

DRC Mines Minister Visits Tenke Fungurume to Inspect Development Projects 1 Mining in DRC Cobalt Copper 

DRC Mines Minister Visits Tenke Fungurume to Inspect Development Projects

Constance
On Saturday, August 17, Minister of Mines Kizito Pakapomba arrived in Fungurume and was warmly received at Tenke Fungurume Mining (TFM) Airport by CEO Wang Hanyuan, along with other senior management members and state representatives. The delegation, including Gécamines Deputy General Manager and other government officials, gathered at the foot of the plane to welcome the minister. The visit commenced with an overview of the 30K factory, TFM’s latest facility, which is expected to significantly boost copper and cobalt production once it reaches full capacity. The minister then visited the… Read More Here
First Quantum Mining in Zambia About Company Copper Gold 

Kansanshi Copper-Gold Mine – A Flagship of Innovation and Sustainability

Constance
Overview The Kansanshi copper-gold mine, located near Solwezi in Zambia’s North Western Province, has been a cornerstone of operations since 2005. As one of Africa’s largest copper-producing mine, Kansanshi stands out for its world-class efficiency and cutting-edge technology. Managed by Kansanshi Mining PLC, 80% owned by First Quantum, the mine employs over 13,000 people, predominantly Zambians, contributing significantly to the local economy. Mining and Processing Kansanshi is renowned for its rich vein deposits, with copper and gold mineralization found in three distinct ore types: primary sulphide, mixed supergene, and oxide.… Read More Here
Wave of Chinese copper fills warehouses abroad as demand weakens 2 Copper International 

Wave of Chinese copper fills warehouses abroad as demand weakens

Constance
Copper and nickel made in China flooded overseas into warehouses tracked by the London Metal Exchange last month, as tepid domestic demand triggers a wave of exports that has weighed on global prices. China, the largest metals market, is typically a significant net copper importer, but weak local conditions have reversed global trade flows in recent months, weighing on prices. Chinese-origin copper made up 72% of the increase in exchange-monitored inventories in July, and accounted for 53% of the total at the end of the month, up from 45% in… Read More Here
President Hichilema Launches $600 Million Sinomine Kitumba Mining Project in Mumbwa 3 Mining in Zambia Copper New Mining Projects 

President Hichilema Launches $600 Million Sinomine Kitumba Mining Project in Mumbwa

Constance
President Hakainde Hichilema has officially launched the $600 million Sinomine Kitumba mining project in Mumbwa District, Central Province, marking a significant step in revitalizing Zambia’s mining industry and boosting economic growth. During the groundbreaking ceremony, President Hichilema highlighted the project’s crucial role in copper cathode production, supported by the development of a 50-megawatt solar power plant that will be integrated into Zambia’s national grid. The project is expected to create over 2,500 direct and indirect jobs, providing substantial employment opportunities across various sectors. “This investment will have a transformative impact… Read More Here
Train Derailment on Angola’s Lobito Corridor Disrupts Copper and Sulfur Transport 4 Transport and Logistics Copper 

Train Derailment on Angola’s Lobito Corridor Disrupts Copper and Sulfur Transport

Constance
A train derailment on Angola’s Lobito Corridor has disrupted the transportation of key commodities, including copper concentrates, the railway operator reported on Today. The Lobito Corridor is a crucial trade route connecting the mineral-rich Democratic Republic of Congo (DRC) with Angola’s Lobito port on the Atlantic Ocean. This corridor holds strategic importance for the United States and the European Union, both of which are seeking greater access to the minerals essential for the global shift to cleaner energy technologies. The derailment occurred on Thursday between the Cavimbe and Cangumbe stations… Read More Here
DRC's Renegotiated Mining Contract with Chinese Enterprise Sparks Debate Over Missed Potential 5 Mining in DRC Cobalt Copper 

DRC’s Renegotiated Mining Contract with Chinese Enterprise Sparks Debate Over Missed Potential

Constance
The recently signed contract on March 14 between the Democratic Republic of Congo (DRC) and the Chinese Enterprise Group (GEC) continues to fuel discussions. Bodom Matungulu, president of the think tank RDC Stratégie, which specializes in public policy, argues that the renegotiated contract, known as “Amendment No. 5,” could potentially generate over $117 billion for the DRC, thanks to the significant reserves of copper and cobalt within the country’s subsoil. However, he contends that the contract represents only a small fraction of the DRC’s vast mining potential. “The deposits covered… Read More Here
Copper Prices Stabilize as DRC-Zambia Border Reopens After Brief Crisis 6 Mining in DRC Copper Economy Mining in Zambia 

Copper Prices Stabilize as DRC-Zambia Border Reopens After Brief Crisis

Constance
Global copper prices have stabilized below the USD 9,000 per tonne mark following the resolution of a brief but intense border dispute between the Democratic Republic of Congo (DRC) and Zambia. Earlier concerns about a potential disruption to one of the world’s key copper export corridors had driven prices up for two days. However, after reaching around USD 8,900 per tonne on August 13, 2024, prices dipped slightly below USD 8,800 as tensions eased. The border crisis began when the DRC unilaterally banned the import of beer, soft drinks, and… Read More Here
Zambia Launches Nationwide Aerial Survey to Uncover Mineral Wealth 7 Mining in Zambia Copper New Mining Projects 

Zambia Launches Nationwide Aerial Survey to Uncover Mineral Wealth

Constance
President Hakainde Hichilema of Zambia has officially launched a nationwide high-resolution aerial geophysical survey aimed at uncovering the country’s hidden geological assets. This initiative utilizes advanced airborne geophysical technology to identify mineral and water resources, significantly reducing exploration costs and fostering new investment opportunities. This ambitious project is part of the government’s broader strategy to unlock Zambia’s untapped mineral wealth, with the ultimate goal of reaching 3 million tonnes of copper production by 2031. The detailed mapping effort will enhance exploration and help accurately determine the market value of Zambia’s… Read More Here
Global Copper Demand to Surge by 75% by 2050 8 International Copper Economy 

Global Copper Demand to Surge by 75% by 2050

Constance
Copper demand is projected to soar by 75%, reaching 56 million tonnes by 2050, according to a new report from data analytics firm Wood Mackenzie. This sharp increase will necessitate significant investment and strategic changes in the global supply chain, particularly as major economies seek to reduce reliance on China. Copper plays a critical role in electrification and decarbonization, making it indispensable for the global energy transition. However, China currently dominates the copper supply chain, including mining, downstream processing, and semi-manufacturing. As countries look to diversify supply chains away from… Read More Here
Ivanhoe Electric Completes Full Acquisition of Santa Cruz Copper Mineral Rights 9 International Copper Mergers & Acquisitions 

Ivanhoe Electric Completes Full Acquisition of Santa Cruz Copper Mineral Rights

Constance
PHOENIX, ARIZONA – Ivanhoe Electric Inc. (“Ivanhoe Electric”, the “Company” or “IE”) (NYSE American: IE; TSX: IE) Executive Chairman Robert Friedland and President and Chief Executive Officer Taylor Melvin have announced that the Company, through its wholly-owned subsidiary Mesa Cobre Holding Corporation (“Mesa Cobre”), completed the final US$10 million payment to exercise its option to acquire 100% ownership of the mineral rights at the Santa Cruz Copper Project in Arizona. Following this transaction, Ivanhoe Electric now owns 100% of the mineral and surface rights for the Santa Cruz Copper Project.… Read More Here

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