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Category: Copper

Zambia to Launch National Critical Minerals Strategy 1 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 2 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 3 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
Codelco could face $8 million fine for tailings dam violations 4 International Copper 

Codelco could face $8 million fine for tailings dam violations

Constance
Chile’s environmental regulator on Thursday said it filed two charges against state copper giant Codelco over the management of its Talabre tailings dam at its Ministro Hales division in northern Chile. The charges were for the lack of a contingency plan to avoid affecting underground water, and for the incorrect deposit of tailings materials dating to 2017. The company, the world’s biggest copper miner, has ten days to submit a compliance plan and an additional five days to appeal, and could face a fine of about 8 billion pesos ($8.71… Read More Here
Lundin Mining Workers in Chile End Strike with New Wage Agreement 5 International Copper 

Lundin Mining Workers in Chile End Strike with New Wage Agreement

Constance
Workers at Lundin Mining Corp.’s Caserones mine in Chile have ended a nearly two-week strike after accepting a new wage proposal. Approximately 90% of one of the mine’s three unions voted in favor of the new three-year contract on Saturday, following a preliminary agreement reached late Friday, according to union leader Marco Garcia. The strike, led by a union representing 29% of the workforce at Caserones, had disrupted production at the mine, which produced 137,100 tons of copper last year, according to Chilean government data. The resolution of the strike… Read More Here
Peru’s copper output this year likely to fall short of 3mt goal 6 Copper International 

Peru’s copper output this year likely to fall short of 3mt goal

Constance
Peru will likely produce between 2.7 million and 2.8 million metric tons of copper this year, the head of a major mining group told Reuters on Tuesday, with estimated output falling below the government’s 3 million ton goal. The copper production forecast was provided by Victor Gobitz, head of the SNMPE mining, oil and energy association. Peru is the world’s No. 3 producer of the key industrial metal, used widely in vehicles and construction, especially for electrical wiring due to its ability to conduct current. Gobitz, who provided the output… Read More Here
DRC Central Bank Reports Price Increases in Oil, Copper, and Gold Amid Global Uncertainties 7 Mining in DRC Copper Gold Oil & Gas 

DRC Central Bank Reports Price Increases in Oil, Copper, and Gold Amid Global Uncertainties

Constance
The Central Bank of Congo’s observation barometer reported that as of August 14, 2024, the price of oil increased by 2.07% on a weekly basis, reaching USD 79.98 per barrel. This rise was driven by concerns over potential conflict in the Middle East between Israel and Iran, along with a sharp drop in U.S. commercial crude reserves by approximately 5.2 million barrels. Since December 2023, the oil price has risen by 2.71%. Copper prices surged by 3.12%, reaching USD 9,077.00 per ton, influenced by a strike at Chile’s Escondida mine,… Read More Here
Southern Africa’s Railways Surge with Global Investment Amid Copper Boom 8 Mining in Zambia Copper Mining in DRC Transport and Logistics 

Southern Africa’s Railways Surge with Global Investment Amid Copper Boom

Constance
Southern Africa’s railways are garnering international attention and attracting billions of dollars in investment, driven by the race to secure copper supplies essential for the energy transition. From Angola on the west coast to Tanzania on the east, governments and investors are poised to revive long-neglected rail lines and construct new ones. This surge in demand is largely fueled by the central African copperbelt shared by Zambia and the Democratic Republic of Congo. “We’re at a historic turning point,” said Babe Botana, Executive Director of the Southern African Railways Association.… Read More Here
FQM Trident Lauded for Empowering SMEs and Boosting Northwestern Province’s Economy 9 Mining in Zambia Copper Economy 

FQM Trident Lauded for Empowering SMEs and Boosting Northwestern Province’s Economy

Constance
Hon. Elias Mubanga, Minister of Small and Medium Enterprise Development, has commended FQM Trident Limited for its ongoing efforts to support small and medium enterprises (SMEs) in Zambia’s Northwestern Province. Speaking at the Kalumbila Business Clinics, Hon. Mubanga highlighted the crucial role SMEs play in Zambia’s economy and urged other large corporations, especially in the mining sector, to follow FQM’s example in empowering local businesses. “SMEs are the backbone of our economy, and it is essential that major firms, particularly in the mining industry, actively contribute to the growth and… Read More Here
Mopani Copper Mines Produces First 200 Tonnes of Copper Anodes Post-Revival 10 Mining in Zambia Copper Economy 

Mopani Copper Mines Produces First 200 Tonnes of Copper Anodes Post-Revival

Constance
Mopani Copper Mines has successfully produced its first 200 tonnes of copper anodes since its revitalization under new equity partner, International Resources Holdings (IRH). The company was officially handed over to IRH in March this year by President Hakainde Hichilema. Mopani Copper Mines CEO, Charles Sakanya, announced that significant transformations have taken place since the revival. In the past three months, 400 professionals have been hired to enhance productivity. The mine has also doubled its shifts, resulting in a notable increase in production. Current copper output stands at 65,000 tonnes,… Read More Here

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