Copper - Copperbelt Katanga Mining

MMG to invest $700 million to double copper output at Botswana mine

June 15, 2024June 15, 2024 Constance

Chinese miner MMG Ltd will invest $700 million to double production at Botswana’s Khoemacau copper mine as part of a growth strategy to secure the critical metal, an official said on Wednesday. MMG announced in March that it had completed a deal to buy Canada-based Cuprous Capital, the parent company of the copper mine which lies in the Kalahari Copper Belt. Amid a surge in demand for the metal required for the green energy transition, Khoemacau has embarked on an expansion which will see the mine’s copper output more than… Read More Here

Mining in DRC Copper

Ivanhoe Mines Achieves Early Production of Kamoa-Kakula Phase 3 Concentrate

June 15, 2024June 15, 2024 Constance

Ivanhoe Mines’ Executive Co-Chair Robert Friedland announced on 11th June, ahead of his appearance at the 2024 Evercore Global Clean Energy & Transition Technologies Summit at the Mandarin Oriental Hotel in New York, that on June 10, 2024, first concentrate production by Kamoa-Kakula’s Phase 3 concentrator in the Democratic Republic of the Congo (DRC) was celebrated by the mine-site management and employees. First copper concentrate was achieved approximately two weeks after the first feed of ore into the concentrator, as announced on May 28, 2024. The Phase 3 concentrator expansion was… Read More Here

Mining in Zambia Copper New Mining Projects

KoBold Metals Plans $2.3 Billion Investment in Zambia’s Largest Copper Mine

June 7, 2024June 9, 2024 Constance

KoBold Metals, a mining exploration company backed by Bill Gates, is planning to invest up to $2.3 billion to develop a major new copper mine in Zambia, according to President Hakainde Hichilema, who cited company figures. The company aims to produce over 300,000 metric tons of copper annually at the Mingomba site, positioning it as Zambia’s largest copper operation. KoBold Metals plans to begin sinking the mining shaft in the first half of 2026, as announced by company officials during a meeting with Hichilema, which was broadcast on state television.… Read More Here

Mining in DRC Cobalt Copper

Rising Trends in DRC Mining Export Prices: May 27 – June 1, 2024

June 6, 2024June 6, 2024 Constance

The prices of mining export products from the Democratic Republic of Congo experienced an upward trend during the week of May 27 to June 1, 2024, according to projections by experts from the National Mercurial Commission of the Ministry of Trade. The only exception was cobalt, which saw a slight decrease, falling to $27,438 per tonne from $27,467 per tonne the previous week, marking a drop of $29. Copper prices, on the other hand, continued to improve, trading at $10,556 per tonne this week compared to $9,994 per tonne last… Read More Here

International Copper

Traders are desperate for copper deals and miners are cashing in

June 6, 2024June 6, 2024 Constance

A heated competition for copper among some of the biggest commodity traders is creating opportunities for miners to negotiate favorable terms ranging from huge upfront payments to extra-long contracts. Recent moves by cash-flush energy traders including Mercuria Energy Group Ltd. to expand in metals — a market long dominated by Glencore Plc and Trafigura Group — are raising tensions and sparking a scramble for contracts, at a time when the industry is already facing an unprecedented supply squeeze in copper ore. And mining companies are seizing the moment. One producer,… Read More Here

Mining in Zambia Copper Mining tax Taxes

FQM AFFIRMS COMMITMENT TO ZAMBIA’S GROWTH WITH OVER $727.8M CONTRIBUTION IN 2023

June 1, 2024June 1, 2024 Constance

First Quantum Minerals (FQM), has reaffirmed its commitment to transparency and sustainable development in Zambia by announcing US$727.8 million of contributions to the nation in 2023, according to the company’s latest Tax Transparency and Contributions to Government Report. The report highlights FQM’s contributions to the Zambian economy and local communities through its Kansanshi copper mine in Solwezi, Trident projects in Kalumbila, as well as First Quantum Mining and Operations (FQMO). In 2023, FQM’s Kansanshi contributed US$153.3 million, while FQM Trident contributed US$263 million in taxes and royalties. Of the royalties paid at… Read More Here

Mining in Zambia Copper Exploration New Mining Projects

Xtract Resources Expands Copper Exploration Joint Venture in Zambia

May 31, 2024May 31, 2024 Constance

London-listed Xtract Resources has announced an addendum to its joint venture (JV) agreement with consulting firm Cooperlemon Consultancy, significantly expanding their copper exploration efforts in Zambia. This expansion incorporates three additional large-scale exploration licenses in northwest Zambia into the existing JV framework. Previously, the JV focused on large-scale exploration licenses 29123-HQ_LEL and 30459-HQ-LEL, both situated in northwest Zambia. These licenses, along with the newly added ones, lie within the Western Foreland geological district, home to the Kamoa-Kakula deposit, and the central fold and thrust belt. Combined, the five licenses cover… Read More Here

Mining in Zambia Copper Events & Expos Technology & Innovation

Zambia Finalizes AI Strategy to Boost National Development

May 30, 2024May 30, 2024 Constance

The Zambian government has completed drafting a comprehensive Artificial Intelligence (AI) strategy, poised to harness the latest technological advancements for national development. Technology and Science Minister, Hon. Felix Mutati, announced that the AI strategy is set to be launched within the next two months. Speaking at a side event during the Copperbelt Agricultural Mining Industrial Networking Enterprise (CAMINEX) in Kitwe, Mr. Mutati underscored AI’s potential to help Zambia achieve its goal of producing three million tonnes of copper annually. He emphasized that AI would significantly enhance exploration efforts and bring… Read More Here

Mining in DRC Copper Press Release

Ivanhoe Mines Completes Construction of Kamoa-Kakula’s Phase 3 Concentrator Ahead of Schedule and on Budget

May 28, 2024May 28, 2024 Constance

First ore to Phase 3 concentrator achieved on May 26; first Phase 3 concentrate expected in early June Phase 3 concentrator increases Kamoa-Kakula copper production capacity to more than 600,000 tonnes per annum, making Kamoa-Kakula the fourth-largest copper mining complex globally Further Kamoa-Kakula growth initiatives in progress, including Project 95, de-bottlenecking of Phase 3 and potential acceleration of Phase 4 expansion Zero lost-time injuries recorded during the construction of the Phase 3 concentrator Phase 1 and 2 concentrators produced more than 63,000 tonnes of copper since start of April; a… Read More Here