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Category: Copper

FQM hopes new Panamanian leader brings fresh look to disputed copper mine 1 International Copper 

FQM hopes new Panamanian leader brings fresh look to disputed copper mine

Constance
First Quantum Minerals said on Monday it is looking forward to talks with Panama’s new government to find a resolution to the Canadian company’s disputed Cobre Panama mine. Panama on Sunday elected Jose Raul Mulino as its new president. Analysts see the election result as a positive development for the Cobre Panama mine, which accounts for about 1% of global copper output. Panama’s outgoing government ordered the mine shut down last year after public protests over environmental damage from mining in the Central American country. Mulino won the election with… Read More Here
Zambia’s Mineral-Rich Copperbelt Seeks New Investment 2 Mining in Zambia Copper Mining in DRC 

Zambia’s Mineral-Rich Copperbelt Seeks New Investment

Constance
Zambia’s economy hinges significantly on copper production, with the Copperbelt region, spanning the border between Zambia and the Democratic Republic of Congo (DRC), serving as its mainstay. This mineral-rich area contributes 90% to the country’s GDP and employs the majority of its populace, generating about 70% of national revenue. With over a tenth of the world’s copper reserves, Zambia ranks among the top global producers, aiming to boost production to 3 million tons by 2032. Critical mineral supply chains have become focal points for development partnerships. Last October, Zambia and… Read More Here
Anglo’s copper assets worth $35bn, report shows 3 International Copper 

Anglo’s copper assets worth $35bn, report shows

Constance
Anglo American’s copper assets are valued at about $35-billion and, if BHP aims to clinch these prized operations, the miner must substantially enhance its offer for its competitor. This is according to a report by CreditSight analysts Wen Li and Michael O’Brien, who estimate Anglo’s enterprise value at $63-billion. BHP’s initial offer of $32 a share (£25) falls short of the mark, considering that CreditSight’s valuation corresponds to a share price of $39 (£31). Market sentiment, as gauged from analysts and traders surveyed by Bloomberg converge around an average price of £30.43 a share for a potential… Read More Here
CMOC Reports Significant Growth in Copper and Cobalt Production for Q1 4 Copper Cobalt Mining in DRC 

CMOC Reports Significant Growth in Copper and Cobalt Production for Q1

Constance
Chinese mining company CMOC announced substantial increases in copper and cobalt production for the first quarter of the year, showcasing growth rates of 123% and 392%, respectively. Operating primarily in the Democratic Republic of Congo, CMOC reported production figures of 147,500 metric tons of copper and 25,200 tons of cobalt during the first three months of the year. The company’s Tenke Fungurume Mining (TFM) site expanded its mining capacity in March, elevating its annual capacity to 450,000 tons of copper and 37,000 tons of cobalt. This achievement propels TFM into… Read More Here
Vedanta Seeks Capital to Revitalize Konkola Copper Mines in Zambia 5 Mining in Zambia Copper 

Vedanta Seeks Capital to Revitalize Konkola Copper Mines in Zambia

Constance
Vedanta Resources Ltd, led by billionaire Anil Agarwal, is in discussions with trading houses to raise capital for the revival of the Konkola copper mining and smelting complex in Zambia. According to sources familiar with the matter, Vedanta has explored tolling and prepayment arrangements with commodity traders, including Mercuria Energy Group, for the output from Konkola Copper Mines Plc. In addition to discussing tolling and prepayment facilities, Vedanta is considering the sale of a minority stake in KCM to address creditor obligations and invest in the mines, which were placed… Read More Here
Swedish Delegation Explores Zambia's Mining Sector & Green Transition at Kansanshi Mine 6 Mining in Zambia Copper 

Swedish Delegation Explores Zambia’s Mining Sector & Green Transition at Kansanshi Mine

Constance
A Swedish delegation, led by Sweden’s Ambassador to Zambia, Johan Hallenborg, toured First Quantum Minerals’ subsidiary, Kansanshi Mining Plc, to gain insights into Zambia’s mining sector and the ongoing green transition efforts. With a keen interest in understanding both the challenges and opportunities within Zambia’s mining industry, the Swedish delegation engaged in a series of discussions and briefings during their visit. The primary focus was on sustainability practices and environmental stewardship initiatives being implemented by Kansanshi Mine. Kansanshi Mine Assistant General Manager Axel Kottgen led the delegation through a detailed… Read More Here
SkyPower Global and ZESCO Sign Landmark 1000 MW Power Purchase Agreement in Zambia 7 Mining in Zambia Copper Electricity 

SkyPower Global and ZESCO Sign Landmark 1000 MW Power Purchase Agreement in Zambia

Constance
SkyPower Global, a renowned leader in large-scale solar energy solutions, and Zambia Electricity Supply Corporation (ZESCO) have sealed a groundbreaking 1000 MW Power Purchase Agreement (PPA). This significant milestone is a cornerstone of Zambia’s Integrated Renewable Energy Plan, aimed at substantially boosting the nation’s renewable energy capacity to foster sustainable growth. Zambia’s President, Hakainde Hichilema, hailed the Green Giant Zambia project as a vital component of the country’s renewable energy strategy, especially amidst the current climate-induced drought. The initiative seeks to ramp up Zambia’s renewable capacity to meet present and… Read More Here
South Africa scrutinizes BHP bid for Anglo weeks before election 8 International Copper 

South Africa scrutinizes BHP bid for Anglo weeks before election

Constance
South Africa’s government is scrutinizing BHP Group’s proposed deal to buy Anglo American, a spokesperson said, with the deal likely to concern officials the coming weeks before a general election where the governing party’s majority is at risk. The deal worth about $39 billion would involve Anglo exiting its platinum and iron ore assets in South Africa. It could trigger large capital outflows and further dent the country’s reputation as a destination for mining investment. Anglo’s potential exit would mark the end of an era for a company founded in… Read More Here
Chile president wants copper output boost of 1Mt by 2026 9 International Copper News in Brief 

Chile president wants copper output boost of 1Mt by 2026

Constance
Chile President Gabriel Boric said on Thursday he is targeting an increase in the country’s annual copper output by 1 million metric tons by the end of his term in 2026. “We have to take advantage of this super-cycle of copper that has been spoken of positively in recent days,” he said at an event, adding that he was referring to state-run miner Codelco as well as privately run operations in the country that is the world’s top copper producer. SOURCE:mining.com Read More Here
Anglo’s stumbles have made it prey for mining’s biggest predator 10 International Copper Mining Companies 

Anglo’s stumbles have made it prey for mining’s biggest predator

Constance
When former boss Mark Cutifani left Anglo American in mid-April 2022, things had rarely looked better for the century-old miner. Metals prices soared as the world emerged from lockdowns, the company had recently posted its best-ever annual profit and the popular industry veteran was handing over to a trusted lieutenant. Anglo stock hit a record the same day. Two years later, the company’s reputation is in tatters after a series of missteps sent its value plunging by half. And now industry heavyweight BHP Group is moving in. BHP’s proposal to… Read More Here

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