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Category: Copper

African Rainbow Minerals pivots to chrome and copper after platinum price slump 1 Copper International 

African Rainbow Minerals pivots to chrome and copper after platinum price slump

Constance
African Rainbow Minerals (ARM) is pursuing chrome and copper opportunities after weaker platinum group metal (PGM) and coal prices drove its annual profit 43% lower, the diversified miner said on Friday. ARM’s headline earnings slumped to 5.08 billion rand ($286.89 million) in the year ended June 30, from a restated 8.98 billion the previous year, mainly due to lower PGM and coal prices. The company’s board has approved the construction of a chrome recovery plant at its Bokoni platinum mine, where the platinum ramp up will be “phased and measured”… Read More Here
Glencore’s Peru boss Soyer to step down after Volcan sale 2 Copper International Mining Personality 

Glencore’s Peru boss Soyer to step down after Volcan sale

Constance
Glencore’s head of Peruvian operations is stepping down from her position, according to two sources with knowledge of the matter. Victoria Soyer Toche, the general manager at Glencore Peru SAC, has resigned, the sources said. Veteran copper concentrates trader Alvaro Ilamas also recently left Glencore’s Lima office, according to same sources. Glencore declined to comment on personal moves. Her departure came after Glencore sold its stake in zinc-lead producer Volcan Compania Minera to Argentine group Integra Capital in May. The commodity giant owns stakes in major Peruvian copper mines such… Read More Here
Ivanhoe Mines Announces Kamoa-Kakula Achieved Record Copper Production of 40,347 Tonnes in August 3 Mining in DRC Copper 

Ivanhoe Mines Announces Kamoa-Kakula Achieved Record Copper Production of 40,347 Tonnes in August

Constance
Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) Executive Co-Chairman Robert Friedland and President Marna Cloete has announced that the Phase 1, 2 and 3 concentrators at the Kamoa-Kakula Copper Complex in the Democratic Republic of the Congo (DRC) achieved a combined monthly production record of 40,347 tonnes of copper in concentrate and a combined monthly milling record of 1.1 million tonnes during August. On August 31, the Phase 1, 2 and 3 concentrators produced a combined daily production record of 2,096 tonnes of copper. This included 1,760 tonnes of copper from… Read More Here
US sees bipartisan backing for Africa critical minerals plan 4 Mining in DRC Cobalt Copper Transport and Logistics 

US sees bipartisan backing for Africa critical minerals plan

Constance
A senior US State Department official reassured African governments that an initiative to help counter China’s influence through developing infrastructure on the continent will continue even after a change in administration. The flagship of the plan — a railway project known as the Lobito corridor that connects copper and cobalt mines in the Democratic Republic of Congo to an Atlantic port in Angola — is already far advanced, Helaina Matza, acting special coordinator for the Partnership for Global Infrastructure and Investment, told reporters on Wednesday. “In many ways, there’s a… Read More Here
BHP moves ahead with expansion of Olympic Dam copper refinery 5 International Copper 

BHP moves ahead with expansion of Olympic Dam copper refinery

Constance
BHP Group is continuing to push ahead with the expansion of its copper smelter and refinery at Olympic Dam in South Australia, as global miners ramp up their efforts around the key metal for greener energy transition. The world’s largest miner on Friday said the government of South Australia has begun an application and assessment process for the expansion, citing a notification in the South Australian Government Gazette. BHP is strengthening its efforts in copper expansion, given the commodity’s extensive role in the global shift towards greener energy and a… Read More Here
Gécamines Faces Proposed Overhaul to Address Deep-Rooted Challenges 6 Mining in DRC Cobalt Copper 

Gécamines Faces Proposed Overhaul to Address Deep-Rooted Challenges

Constance
Gécamines, one of the largest state-owned mining companies in the DRC, is poised for a major transformation following proposals from the human rights organization Justicia Asbl. During the Council of Ministers meeting on August 23, 2024, chaired by the Head of State, discussions centered on revitalizing Gécamines. However, Justicia Asbl argues that the current measures are insufficient to address the company’s deep-seated structural issues. In a statement released on Monday, Justicia Asbl advocated for a “total overhaul” of Gécamines, emphasizing that merely resuming mining activities will not resolve the company’s… Read More Here
FQM Seeks Compensation from Panama Over Stranded Copper Stockpile 7 International Copper 

FQM Seeks Compensation from Panama Over Stranded Copper Stockpile

Constance
First Quantum Minerals is pursuing compensation from Panama for a stockpile of semi-processed copper ore stranded at its flagship Cobre Panama mine. The material, valued between $225 million and $340 million at current copper prices, has been idle for months while the Panamanian government assesses whether it was mined before or after the mine was ordered to close last year. The Canadian mining company has warned that the stockpile’s value could degrade over time and that leaving it idle poses environmental risks. First Quantum insists that Panama must either allow… Read More Here
Zambia to Launch National Critical Minerals Strategy 8 Mining in Zambia Copper 

Zambia to Launch National Critical Minerals Strategy

Constance
The Zambian government will launch its National Critical Minerals Strategy on Thursday, August 29, aimed at preventing the export of raw minerals and promoting value addition. Mines and Mineral Development Minister Paul Kabuswe announced that the strategy will set regulations for mineral processing, ensuring value is added before export. The government also plans to increase mineral production to 3 million metric tons annually by 2031. Kabuswe’s remarks were delivered by Ministry of Mines Permanent Secretary Hapenga Kabeta at the 2024 Zambia Alternative Mining Indaba in Lusaka. Publish What You Pay… Read More Here
DRC Govt Blocks Chemaf’s Sale of Copper and Cobalt Mines to China’s Norin Mining 9 Mining in DRC Cobalt Copper 

DRC Govt Blocks Chemaf’s Sale of Copper and Cobalt Mines to China’s Norin Mining

Constance
The government of the Democratic Republic of Congo (DRC) has opposed Chemaf SA’s plan to sell its copper and cobalt mines to China’s Norin Mining, according to a document reviewed by Reuters. In June, Chemaf, a long-time partner of commodities trader Trafigura, announced its agreement to sell its mining operations in the DRC to a subsidiary of China North Industries Corp (Norinco), a state-backed defense and industrial giant. The sale was driven by financial difficulties that had delayed the expansion of Chemaf’s Etoile and Mutoshi projects amid falling cobalt prices.… Read More Here
ZCCM-IH Acquires Additional 10% Shareholding in Lubambe Copper Mines Ltd 10 Mining in Zambia Copper Mergers & Acquisitions 

ZCCM-IH Acquires Additional 10% Shareholding in Lubambe Copper Mines Ltd

Constance
28th August 2024, Lusaka, Zambia – ZCCM Investments Holdings PLC (ZCCM-IH) has secured a deal with Jinchengxin Mining Management Company Ltd (JCHX) to acquire an additional 10% stake in Lubambe Copper Mines Ltd (Lubambe) for $1. This transaction will raise ZCCM-IH’s ownership in Lubambe from 20% to 30%, while JCHX’s stake will decrease from 80% to 70%. The deal is expected to be completed within six months. With this increased shareholding, ZCCM-IH will gain marketing rights to copper ore concentrate output proportional to its ownership. This is a groundbreaking move… Read More Here

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