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Category: Copper

ZCCM-IH DELIVERS A K146 MILLION DIVIDEND TO IDC 1 Mining in Zambia Copper 

ZCCM-IH DELIVERS A K146 MILLION DIVIDEND TO IDC

Constance
ZCCM Investments Holdings Plc (ZCCM-IH) has handed over a K146 million dividend cheque to its majority shareholder, the Industrial Development Corporation (IDC), for the 2023 financial year. ZCCM-IH CEO, Dr Ndoba J.Vibetti handed over the dividend cheque to IDC CEO Mr Cornwell Muleya, earlier today. Some key highlights from Dr. Vibetti’s remarks during the handover ceremony: • Dividend Consistency: This marks the 9th consecutive year that ZCCM-IH has paid a dividend to the IDC. Last year, a record dividend of K436 million was paid for the financial year 2021 and 2022.… Read More Here
CMR Secures High-Grade Silver/Copper Project in Morocco and Raises £750,000 for Exploration 2 International Copper Exploration 

CMR Secures High-Grade Silver/Copper Project in Morocco and Raises £750,000 for Exploration

Constance
Critical Mineral Resources (CMR) has signed an exclusive option to acquire the Igli project, a high-grade silver/copper site in Morocco’s Anti-Atlas region, with reported grades up to 912 g/t silver and 2.97% copper. To support this acquisition and fund exploration, CMR has raised £750,000 through a convertible loan note (CLN) issue. A significant portion of this investment comes from the Swiss and UAE-based Prism Group, known for its long-term investment strategy. CMR’s nonexecutive chairperson, Dominic Traynor, will transition to executive chairperson to oversee the company’s strategic developments. The Igli project… Read More Here
Non Ferrous Company to Create 2,400 Jobs with $600 Million Expansion in Kalulushi 3 Mining in Zambia Copper 

Non Ferrous Company to Create 2,400 Jobs with $600 Million Expansion in Kalulushi

Constance
Non Ferrous Company Africa (NFCA) Mining Limited is poised to create approximately 2,400 jobs through the expansion of its South East Ore Body project in the Kalulushi District of Copperbelt Province. The company has committed a substantial investment of $600 million for this significant development. During a media tour in Chambeshi, NFCA Chairperson Zhanyan Li outlined the ambitious plans, stating, “This expansion will boost our copper production to 110,000 tonnes per year.” He further highlighted the economic benefits, noting that the project is expected to generate $36.15 million in taxes… Read More Here
Panamanian President Delays Addressing FQM Copper Mine Issues Until 2025 4 International Copper 

Panamanian President Delays Addressing FQM Copper Mine Issues Until 2025

Constance
Panamanian President Jose Raul Mulino announced on Thursday that the government will not address issues surrounding the shuttered First Quantum copper mine until early 2025. The Cobre Panama mine, one of the world’s largest copper sources, was closed in November after Panama’s Supreme Court declared its contract unconstitutional. First Quantum had been granted a 20-year mining right with an option to extend for another 20 years, in exchange for $375 million in annual revenue to Panama. Critics argued the contract was too favorable to the company, and environmental protests against… Read More Here
Zambia's Copper Production Set to Surge by 2027 5 Copper Economy Mining in Zambia Uncategorized 

Zambia’s Copper Production Set to Surge by 2027

Constance
Zambia’s annual copper production is projected to grow by more than 40% to reach 1 million tons by 2027, according to the country’s Finance Ministry. As Africa’s second-largest copper producer, Zambia aims to capitalize on the anticipated supply shortfall driven by the energy transition, which is increasing demand for copper in electric vehicles and wind farms. In 2023, Zambia’s copper output fell to a 14-year low of 698,566 tons due to frequent tax changes and conflicts with the previous government. However, the Ministry of Finance and National Planning’s medium-term budget… Read More Here
FQM launches standstill deal with Chinese shareholder 6 International Copper 

FQM launches standstill deal with Chinese shareholder

Constance
First Quantum Minerals Ltd. reached an agreement with Jiangxi Copper Co Ltd., its second-largest shareholder, that limits the Chinese firm’s ownership of the Canadian copper producer. First Quantum said Tuesday that the shareholder rights agreement prevents Jiangxi from buying more stock in t company or selling a shares block of 5% or larger without First Quantum’s consent. The three-year agreement also gives Jiangxi the right to nominate one person for consideration by First Quantum’s governance committee to the board of directors. The agreement follows efforts by Canada’s government to crack… Read More Here
Vedanta Resources Seeks Partners to Boost Zambian Copper Output 7 Mining in Zambia Copper 

Vedanta Resources Seeks Partners to Boost Zambian Copper Output

Constance
Vedanta Resources Ltd., founded by billionaire Anil Agarwal, is seeking business partners to enhance production at its Zambian copper assets. This move follows the company’s regaining control of these assets after years of legal disputes. As part of a $1 billion investment plan for the Konkola Copper Mines (KCM) assets, Vedanta is looking for partners to engage in exploration, development, and production. The call for expressions of interest was announced in the state-owned Times of Zambia newspaper, with a deadline of July 31. Vedanta lost control of KCM in 2019… Read More Here
Sandfire Successfully Commissions New Filter Press at Motheo Copper Mine 8 International Copper 

Sandfire Successfully Commissions New Filter Press at Motheo Copper Mine

Constance
Sandfire has successfully commissioned a new permanent filter press at the Motheo Copper Mine in Botswana. During the initial ramp-up of the Motheo process plant in the September Quarter of 2023, the original equipment manufacturer (OEM) filter press installed during construction failed to meet design parameters. In response, an interim solution using mobile filter units was implemented, enabling the safe ramp-up of copper concentrate production at planned rates and specifications. An $8 million capital investment secured the procurement, installation, and commissioning of a Larox filter press to support the long-term… Read More Here
Saudi Arabia to visit Brazil and Chile as seeks to diversify mining 9 International Battery Metals Copper 

Saudi Arabia to visit Brazil and Chile as seeks to diversify mining

Constance
Saudi Arabia’s mining minister will visit Brazil and Chile over the coming two weeks, the ministry said on Sunday, as the world’s leading oil exporter seeks to expand its international presence in mining. In Brazil, talks will cover mining, food processing, and aviation, while in Chile the focus is on lithium, needed for electric vehicle batteries. “This aligns with the Kingdom’s direction towards expanding the production of EVs,” a Saudi government statement said. Saudi Minister of Industry and Mineral Resources Bandar Alkhorayaf will land in Brazil on Monday and leave… Read More Here
Montage Gold Seeks $131.6 Million to Accelerate Koné Gold Project in Ivory Coast 10 Gold Copper 

Montage Gold Seeks $131.6 Million to Accelerate Koné Gold Project in Ivory Coast

Constance
Montage Gold, a Canadian company controlling 90% of the Koné gold deposit in Ivory Coast, announced on July 16 its intention to raise $131.6 million to fast-track the development of its largest Ivorian mining asset. The company aims to close the funding round by August 12. Zijin Mining Group, active in copper mining in the Democratic Republic of Congo (DRC), has pledged $41 million, while the Swedish Lundin Family Trusts will contribute $31.4 million. The Koné project is projected to commence production in 2027. “We are thrilled to welcome Zijin… Read More Here

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