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Category: Copper

President Hichilema Launches $600 Million Sinomine Kitumba Mining Project in Mumbwa 1 Mining in Zambia Copper New Mining Projects 

President Hichilema Launches $600 Million Sinomine Kitumba Mining Project in Mumbwa

Constance
President Hakainde Hichilema has officially launched the $600 million Sinomine Kitumba mining project in Mumbwa District, Central Province, marking a significant step in revitalizing Zambia’s mining industry and boosting economic growth. During the groundbreaking ceremony, President Hichilema highlighted the project’s crucial role in copper cathode production, supported by the development of a 50-megawatt solar power plant that will be integrated into Zambia’s national grid. The project is expected to create over 2,500 direct and indirect jobs, providing substantial employment opportunities across various sectors. “This investment will have a transformative impact… Read More Here
Train Derailment on Angola’s Lobito Corridor Disrupts Copper and Sulfur Transport 2 Transport and Logistics Copper 

Train Derailment on Angola’s Lobito Corridor Disrupts Copper and Sulfur Transport

Constance
A train derailment on Angola’s Lobito Corridor has disrupted the transportation of key commodities, including copper concentrates, the railway operator reported on Today. The Lobito Corridor is a crucial trade route connecting the mineral-rich Democratic Republic of Congo (DRC) with Angola’s Lobito port on the Atlantic Ocean. This corridor holds strategic importance for the United States and the European Union, both of which are seeking greater access to the minerals essential for the global shift to cleaner energy technologies. The derailment occurred on Thursday between the Cavimbe and Cangumbe stations… Read More Here
DRC's Renegotiated Mining Contract with Chinese Enterprise Sparks Debate Over Missed Potential 3 Mining in DRC Cobalt Copper 

DRC’s Renegotiated Mining Contract with Chinese Enterprise Sparks Debate Over Missed Potential

Constance
The recently signed contract on March 14 between the Democratic Republic of Congo (DRC) and the Chinese Enterprise Group (GEC) continues to fuel discussions. Bodom Matungulu, president of the think tank RDC Stratégie, which specializes in public policy, argues that the renegotiated contract, known as “Amendment No. 5,” could potentially generate over $117 billion for the DRC, thanks to the significant reserves of copper and cobalt within the country’s subsoil. However, he contends that the contract represents only a small fraction of the DRC’s vast mining potential. “The deposits covered… Read More Here
Copper Prices Stabilize as DRC-Zambia Border Reopens After Brief Crisis 4 Mining in DRC Copper Economy Mining in Zambia 

Copper Prices Stabilize as DRC-Zambia Border Reopens After Brief Crisis

Constance
Global copper prices have stabilized below the USD 9,000 per tonne mark following the resolution of a brief but intense border dispute between the Democratic Republic of Congo (DRC) and Zambia. Earlier concerns about a potential disruption to one of the world’s key copper export corridors had driven prices up for two days. However, after reaching around USD 8,900 per tonne on August 13, 2024, prices dipped slightly below USD 8,800 as tensions eased. The border crisis began when the DRC unilaterally banned the import of beer, soft drinks, and… Read More Here
Zambia Launches Nationwide Aerial Survey to Uncover Mineral Wealth 5 Mining in Zambia Copper New Mining Projects 

Zambia Launches Nationwide Aerial Survey to Uncover Mineral Wealth

Constance
President Hakainde Hichilema of Zambia has officially launched a nationwide high-resolution aerial geophysical survey aimed at uncovering the country’s hidden geological assets. This initiative utilizes advanced airborne geophysical technology to identify mineral and water resources, significantly reducing exploration costs and fostering new investment opportunities. This ambitious project is part of the government’s broader strategy to unlock Zambia’s untapped mineral wealth, with the ultimate goal of reaching 3 million tonnes of copper production by 2031. The detailed mapping effort will enhance exploration and help accurately determine the market value of Zambia’s… Read More Here
Global Copper Demand to Surge by 75% by 2050 6 International Copper Economy 

Global Copper Demand to Surge by 75% by 2050

Constance
Copper demand is projected to soar by 75%, reaching 56 million tonnes by 2050, according to a new report from data analytics firm Wood Mackenzie. This sharp increase will necessitate significant investment and strategic changes in the global supply chain, particularly as major economies seek to reduce reliance on China. Copper plays a critical role in electrification and decarbonization, making it indispensable for the global energy transition. However, China currently dominates the copper supply chain, including mining, downstream processing, and semi-manufacturing. As countries look to diversify supply chains away from… Read More Here
Ivanhoe Electric Completes Full Acquisition of Santa Cruz Copper Mineral Rights 7 International Copper Mergers & Acquisitions 

Ivanhoe Electric Completes Full Acquisition of Santa Cruz Copper Mineral Rights

Constance
PHOENIX, ARIZONA – Ivanhoe Electric Inc. (“Ivanhoe Electric”, the “Company” or “IE”) (NYSE American: IE; TSX: IE) Executive Chairman Robert Friedland and President and Chief Executive Officer Taylor Melvin have announced that the Company, through its wholly-owned subsidiary Mesa Cobre Holding Corporation (“Mesa Cobre”), completed the final US$10 million payment to exercise its option to acquire 100% ownership of the mineral rights at the Santa Cruz Copper Project in Arizona. Following this transaction, Ivanhoe Electric now owns 100% of the mineral and surface rights for the Santa Cruz Copper Project.… Read More Here
Jubilee Metals Achieves First Copper Concentrate Production from Roan Facility in Zambia 8 Mining in Zambia Copper 

Jubilee Metals Achieves First Copper Concentrate Production from Roan Facility in Zambia

Constance
Jubilee Metals, a diversified metals producer, has announced the successful production of its first copper concentrate from the front-end module at the Roan concentrator facility in Zambia. This newly produced copper concentrate, derived from previously mined material at Roan, will be refined into copper cathode at Jubilee’s Sable refinery, also located in Zambia. In addition to this, the Roan facility continues to produce sulphide copper concentrate from its mill-and-float circuit, which is currently being traded on the market. The front-end module is set to ramp up production during the third… Read More Here
Illegal mining soars near First Quantum’s idled Panama mine 9 International Copper 

Illegal mining soars near First Quantum’s idled Panama mine

Constance
Illegal mining near First Quantum Minerals Ltd.’s Cobre Panama copper mine has soared since the facility suspended operations last year, an industry group warns. More than 250 instances of illegal mining have been identified in the rainforest surrounding Cobre Panama this year, according to Zorel Morales, head of the nation’s mining chamber. That’s a 317% increase from 60 instances in 2023. The illegal miners, Morales said, are mostly searching for gold. Morales and his trade organization, which includes First Quantum, are pushing for a quick resolution on Cobre Panama’s future.… Read More Here
Peru's Copper Production Drops 11.7% in June Amid Ongoing Industry Challenges 10 International Copper 

Peru’s Copper Production Drops 11.7% in June Amid Ongoing Industry Challenges

Constance
Copper production in Peru fell by 11.7% year-on-year in June, reaching 213,578 metric tons, according to the country’s energy and mines ministry. For the first half of 2021, total production amounted to 1.29 million tons, reflecting a 2.1% decline compared to the same period last year. Peru, which has slipped to the third-largest copper producer globally after being overtaken by the Democratic Republic of Congo, is projected to produce 3.00 million tons of copper this year, up from 2.76 million tons in 2020, according to the ministry. The Peruvian government… Read More Here

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