Copper - Copperbelt Katanga Mining

Minister of Portfolio Visits Kamoa Copper to Assess Performance and Strengthen State Collaboration 1

From September 21 to 22, Kamoa Copper hosted a visit from the Congolese Minister of Portfolio, His Excellency Jean-Lucien Bussa. The visit aimed to evaluate Kamoa Copper’s performance, in which the State of the Democratic Republic of Congo (DRC) holds a 20% stake, and to outline the minister’s strategy for enhancing public company performance through collaboration. “I am here as the Minister of Portfolio, representing the shareholder state, to visit a mixed economy mining company where the State, the Congolese economy, and the people all have vested interests. This company… Read More Here

Mining in DRC Cobalt Copper Mining tax

Glencore’s Kamoto Copper Mine Faces $894 Million Royalty Dispute in DRC

September 29, 2024September 29, 2024 Constance

Glencore’s Kamoto Copper Company (KCC), a major copper and cobalt mine in the Democratic Republic of Congo (DRC), is facing a dispute with the country’s tax authority, DGRAD, over unpaid royalties amounting to more than €800 million ($894 million). According to sources, earlier this year, DGRAD froze KCC’s local bank accounts, and recently sealed off a metal storage warehouse, though the facility was reopened the next day. Kamoto, in which Glencore holds a 75% stake, is one of the largest mines in the DRC. It exported 200,000 tons of copper… Read More Here

Mining in Zambia Cobalt Copper New Mining Projects

Zambia’s New $30 Million Copper and Cobalt Mine Set to Open in Mufulira District

September 28, 2024September 28, 2024 Constance

A $30 million copper and cobalt mine is set to open in Mufulira District, located in Zambia’s Copperbelt Province. Chilibwe Mine, which will be positioned off the Ndola-Mufulira road, is expected to operate for a lifespan of 10 years. The mine covers an area of 20 hectares and aims to produce 2,000 metric tonnes of copper and cobalt each month. This initiative aligns with President Hakainde Hichilema’s goal to ramp up copper production to 3 million tonnes per annum by 2032. In a recent scoping meeting in Mufulira, the mine’s… Read More Here

International Copper

Panama eyes export of First Quantum’s stockpiled copper

September 28, 2024September 28, 2024 Constance

Panama’s finance chief sees no good reason why First Quantum Minerals Ltd. shouldn’t export the large volume of copper stockpiled at its shuttered mine in the country. The government is working with a third party on an environmental assessment to quantify the amount of copper concentrate stored at the mine and determine when it was extracted, Finance Minister Felipe Chapman said Friday. “The copper cannot lie sitting there forever. It has to be taken out, and if you are going to take it out, you might as well export it,”… Read More Here

Mining in DRC Copper Governance

U.S. Strengthens Partnership with DRC to Enhance Mineral Processing at UN General Assembly

September 26, 2024September 26, 2024 Constance

During the 79th United Nations General Assembly, Félix Tshisekedi met with José W. Fernandez, U.S. Under Secretary of State for Economic Growth, Energy, and the Environment. The meeting, which took place on Monday, included the Congolese Minister of Mines, the Chairman of the Board of Directors of Gécamines, and a delegation from Buenassa, the company spearheading a project to construct a copper and cobalt refinery in Lualaba province. Mr. Fernandez reiterated the United States’ interest in investing in the Democratic Republic of the Congo (DRC) to foster a local industry… Read More Here

International Battery Metals Copper

Rio Tinto chairman warns mining deals won’t solve supply crisis

September 26, 2024September 26, 2024 Constance

The world needs more mines to cope with rising demand for key energy-transition metals like copper, as mergers and acquisitions will not plug a looming supply gap, Rio Tinto group chairman Dominic Barton said. “As an industry, we’re not going to inorganic our way out of this challenge,” Barton said in a Bloomberg TV interview, referring to growth through deals. “It’s huge, and it’s in at least five different commodity areas.” Global mining M&A has ramped up over recent months, as healthy cash flows and the outlook for key green… Read More Here

Mining in Zambia Copper Mining safety

FQM Suspends Operations at Kansanshi Mine Following Fatal Accident

September 25, 2024September 25, 2024 Constance

First Quantum Minerals has temporarily halted operations in the area of a fatal accident at its Kansanshi copper mine in Zambia, the company announced on Monday. The accident, which occurred on Sunday, involved a tracked dozer and a light vehicle, resulting in the death of an employee. The Canadian mining company has launched an internal investigation and secured the accident site. “Operations in the affected area will only resume once it is deemed safe to do so,” First Quantum stated. The Kansanshi mine, which produced 134,827 tonnes of copper and… Read More Here

Mining in Zambia Copper Corporate News New Mining Projects

Mopani Copper Mines Aims to Become Global Leader with New Vision and Strategy

September 23, 2024September 29, 2024 Constance

Mopani Copper Mines PLC has unveiled a bold new corporate vision, targeting to become a global leader in the copper production and mining value chain. The updated vision, “To become a world champion mine through BEST values,” replaces the previous goal of being a “world-class mining operation.” This shift reflects the company’s evolving strategic ambitions under the leadership of its new majority shareholders, International Resources Holding (IRH), who have set a target to increase copper production from the current 65,000 tonnes to 225,000 tonnes annually within the next four years.… Read More Here

Mining in DRC Copper Economy

DRC Copper Production Reaches 1.74 Million Tonnes in First Seven Months of 2024

September 22, 2024September 22, 2024 Constance

Mining operators in the Democratic Republic of Congo (DRC) produced 1,738,800 tonnes of copper during the first seven months of 2024, according to data from the Central Bank of Congo (BCC). However, state-owned Gécamines contributed only a small portion to this total, with a production of 3,453 tonnes of copper within the same period. In comparison, the DRC’s mining sector achieved over 2.8 million tonnes of copper production throughout 2023, highlighting the continued significance of the sector to the country’s economy. Read More Here

Mining in DRC Contracts & tenders Copper Mining Supply Tenders

Kamoa Copper Signs $75 Million in Contracts with 22 Local Subcontractors to Boost Congolese Participation

September 22, 2024September 22, 2024 Constance

To further President Félix Tshisekedi’s vision of empowering local businesses, the Director General of the Regulatory Authority for Subcontracting in the Private Sector (ARSP) oversaw the signing of contracts between 22 Congolese subcontracting companies and the Kamoa Copper company in Lualaba province. The contracts, valued at $75 million, will provide these companies access to various markets within Kamoa’s operations, such as the supply of sulfuric reagents, acid, underground pipe installation, and gardening services. List of Subcontracting Companies and contracts: Total value of contracts awarded in July and August 2024: $75,074,532… Read More Here