Copper - Copperbelt Katanga Mining

Vedanta Resources Seeks Partners to Boost Zambian Copper Output

July 25, 2024July 25, 2024 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

International Copper

Sandfire Successfully Commissions New Filter Press at Motheo Copper Mine

July 24, 2024July 24, 2024 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

International Battery Metals Copper

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

July 21, 2024July 21, 2024 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

Gold Copper

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

July 21, 2024July 21, 2024 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

Mining in DRC Copper Mining Supply Tenders

Twelve Congolese Companies Secure Subcontracting Deals with Kamoa Copper

July 20, 2024July 20, 2024 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

Mining in Zambia Copper Economy Electricity

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

July 20, 2024July 20, 2024 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

International Copper

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

July 20, 2024July 20, 2024 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

Mining in Zambia Cobalt Copper Economy

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

July 20, 2024July 20, 2024 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

Mining in DRC Cobalt Copper

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

July 15, 2024July 15, 2024 arnbethnic

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 International

Copper Crisis Looms as Miners and Analysts Predict Supply Shortfall

July 14, 2024July 14, 2024 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