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Category: Copper

Twelve Congolese Companies Secure Subcontracting Deals with Kamoa Copper 1 Mining in DRC Copper Mining Supply Tenders 

Twelve Congolese Companies Secure Subcontracting Deals with Kamoa Copper

Constance
Twelve Congolese companies have been granted subcontracting contracts with Kamoa Copper, a subsidiary of Ivanhoe Mines operating in Lualaba province. This significant milestone is attributed to the diligent efforts of the Private Sector Subcontracting Regulatory Authority (ARSP). During his visit to Lualaba province, Miguel Kashal participated in the signing of contracts between these subcontractors and Kamoa Copper. He was accompanied by members of the ARSP Board of Directors, senior executives, and a strong delegation of entrepreneurs. The companies awarded the contracts include startups and local community members. The ARSP Director… Read More Here
Zambia Urges Mining Companies to Double Power-Saving Efforts Amid Severe Drought 2 Mining in Zambia Copper Economy Electricity 

Zambia Urges Mining Companies to Double Power-Saving Efforts Amid Severe Drought

Constance
Zambia has requested mining companies, operating in Africa’s second-largest copper producer, to double their power-saving measures to 40% of their normal demand due to the worst drought in decades impacting hydroelectric power generation. Zesco Ltd., the state-owned power utility, has asked operators to either increase their power curtailments or source emergency power independently starting this month. First Quantum Minerals Ltd., which is responsible for over half of Zambia’s copper output, confirmed this request. Zesco did not respond to a request for comment. First Quantum has managed to cover more than… Read More Here
Panama vows to talk to FQM in coming months on shuttered mine 3 International Copper 

Panama vows to talk to FQM in coming months on shuttered mine

Constance
Panama’s government says it will engage with First Quantum Minerals Ltd. in the coming months to discuss the environmental impact of its shuttered copper mine. Panama’s new president, who took office earlier this month, has said that the mine may need to be temporarily reopened in order to responsibly prepare for a permanent closure. The Central American government is focusing on more pressing priorities for now, but will have discussions with First Quantum in due course, Foreign Affairs Minister Javier Martinez-Acha Vasquez said Wednesday. “From the environmental standpoint, it has… Read More Here
Vedanta Holdings Deposits $245.75 Million for Full Control of Konkola Copper Mines 4 Mining in Zambia Cobalt Copper Economy 

Vedanta Holdings Deposits $245.75 Million for Full Control of Konkola Copper Mines

Constance
Friday, 19th July 2024, Lusaka, Zambia – Vedanta Resources Holdings Limited (“VRHL” or “Vedanta Holdings” or “Vedanta”) yesterday confirmed the deposit of USD 245.75 million into an escrow account designated by the Hon. High Court of Zambia. This critical financial move paves the way for the imminent reinstatement of the Board of the Konkola Copper Mines (KCM) and the return of full management control to Vedanta. This transition will enable Vedanta to take the necessary steps to allow KCM to operate at its full potential, thereby contributing significantly to Zambia’s… Read More Here
Eurasian Resources Group Releases Fourth Metalkol Clean Cobalt & Copper Performance Report 5 Mining in DRC Cobalt Copper 

Eurasian Resources Group Releases Fourth Metalkol Clean Cobalt & Copper Performance Report

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Eurasian Resources Group (“ERG” or “the Group”), a leading diversified natural resources group headquartered in Luxembourg, is pleased to announce the release of its fourth Metalkol Clean Cobalt & Copper Performance Report for 2024. The report, independently assured by auditors PwC, reports on Metalkol’s progress, approach, and performance across areas of responsible mining and due diligence in relation to its Clean Cobalt & Copper Framework (“Framework’). The report highlights four key achievements: The Clean Cobalt & Copper Framework, first released in 2018 as the Clean Cobalt Framework and extended to… Read More Here
Copper Crisis Looms as Miners and Analysts Predict Supply Shortfall 6 Copper International 

Copper Crisis Looms as Miners and Analysts Predict Supply Shortfall

Constance
Boca Raton, Fla. – Miners and analysts gathered in a humid beach city in southeast Florida last week to discuss why the mining industry struggles to attract investors, despite a looming copper supply crisis. Mining mogul Robert Friedland, founder and executive co-chair of Ivanhoe Mines (TSX: IVN), addressed the Rule Symposium via a pre-recorded video interview from Telluride, Colorado. He emphasized the critical shortage of copper, stating that current prices around $4.60 per pound are insufficient to support the development of new projects. “We see a crisis coming in physical… Read More Here
Ivanhoe Mines Reports Q2 2024 Production Results for the Kamoa-Kakula Copper Complex 7 Mining in DRC Copper 

Ivanhoe Mines Reports Q2 2024 Production Results for the Kamoa-Kakula Copper Complex

Constance
Kamoa-Kakula produced 100,812 tonnes of copper in concentrate in Q2 2024 First concentrate from the Phase 3 concentrator achieved on June 10, 2024, ramp up to steady state expected in Q3 2024 DRC power grid infrastructure upgrades continue, as well as phased roll-out of on-site, backup generation capacity Ivanhoe Mines to issue Q2 2024 financial results and host conference call for investors on July 31 Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) Executive Co-Chair Robert Friedland and President Marna Cloete announced today that the Kamoa-Kakula Copper Complex in the Democratic Republic… Read More Here
A.I. Technology Uncovers Vast Copper Deposit in Zambia 8 Mining in Zambia Copper Economy 

A.I. Technology Uncovers Vast Copper Deposit in Zambia

Constance
Last year in California, data scientists peered into their screens and witnessed a remarkable revelation: a massive copper deposit deep in Zambia’s bedrock. This discovery, driven by years of A.I.-based research, marks a significant milestone for KoBold Metals. On Thursday, KoBold announced this potentially largest copper discovery in over a decade. Estimates reviewed by The New York Times suggest the mine could produce at least 300,000 tons of copper annually, translating to billions of dollars over decades. An independent third-party assessment largely confirmed the size of the deposit. KoBold anticipates… Read More Here
CMOC Group Plans to Double Copper Output in the DRC by 2028 9 Mining in DRC Cobalt Copper Economy 

CMOC Group Plans to Double Copper Output in the DRC by 2028

Constance
CMOC Group plans to more than double its copper output from mines in the Democratic Republic of Congo (DRC) over the next four years, anticipating stronger future demand for the metal. The Chinese producer aims to increase its copper production to between 800,000 and 1 million tons by 2028 by expanding operations at its flagship Tenke Fungurume and Kisanfu (KFM) mines in the DRC, according to a company spokesperson. In 2023, CMOC produced approximately 420,000 tons of copper and is forecast to increase output to about 570,000 tons this year.… Read More Here
JCHX Acquires 80% Stake in Lubambe Copper Mines from EMR Capital 10 Mining in Zambia Copper Mergers & Acquisitions 

JCHX Acquires 80% Stake in Lubambe Copper Mines from EMR Capital

Constance
The Board of ZCCM Investments Holdings Plc (“ZCCM-IH” or the “Company”) announced yesterday July 10th 2024, that EMR Capital has sold its 80% shareholding in Lubambe Copper Mines Limited (“Lubambe”) to JCHX Mining Management Company Limited (“JCHX”). This acquisition was executed through JCHX’s wholly owned overseas subsidiary, Sundimo Mining Investments Limited (“Sundimo”), which will now hold 80% of the issued share capital of Lubambe, including claims on shareholder loans, via a Share Sale and Purchase Agreement. As the principal funder, JCHX, through Sundimo, plans to invest approximately USD 300 million… Read More Here

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