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Category: Copper

Who Truly Benefits from DRC's Mineral Wealth? 1 Mining in DRC Battery Metals Cobalt Copper 

Who Truly Benefits from DRC’s Mineral Wealth?

Constance
In 2023, the Democratic Republic of Congo (DRC) ranked second globally in copper and cobalt exports, according to the Central Bank of Congo (BCC). However, this raises a critical question: who actually benefits from the DRC’s mineral wealth? To answer this, MINES.CD examined Lualaba, the world capital of cobalt and a major hub for the DRC’s mining industry. This region, part of the former Katanga province, is rich in copper and cobalt, mined by multinationals such as Sicomines, Commus, Mutanda Mining, KCC, Kamoa, Tenke Fungurume Mining, Metalkol, and Ruashi Mining.… Read More Here
Billionaire-backed KoBold, Midnight Sun team up for Zambia copper discovery 2 Mining in Zambia Copper New Mining Projects 

Billionaire-backed KoBold, Midnight Sun team up for Zambia copper discovery

Constance
KoBold Metals, a US-based startup supported by high-profile investors such as Bill Gates and Jeff Bezos, is venturing into Zambia’s rich copper belt. In February it partnered with Canada’s Midnight Sun Mining (TSXV: MMA) to explore the promising Dumbwa target within the Solwezi copper project. This strategic alliance will leverage KoBold’s advanced data science techniques and Midnight Sun’s extensive local experience. The goal is for KoBold to earn a 75% stake in the Dumbwa target by investing $15 million in exploration and making $500,000 in cash payments over 4.5 years.… Read More Here
Copper 360 Names Shirley Hayes as Executive Chairperson 3 Copper Mining Personality 

Copper 360 Names Shirley Hayes as Executive Chairperson

Constance
Copper 360 has appointed Shirley Hayes as its new executive chairperson. Previously serving as nonexecutive chairperson, Hayes’ role has been elevated to meet the increased demands of the company’s operations. The copper producer stated that this change comes as the commissioning of two new plants at Copper 360’s mining operations requires significant attention from the executive team. Hayes has been tasked by the board to oversee the capital requirements for the Rietberg mine and to lead the move into production at the site. Read More Here
Zijin Mining Increases Copper Output Targets Amid Soaring Prices 4 International Copper 

Zijin Mining Increases Copper Output Targets Amid Soaring Prices

Constance
China’s leading copper miner, Zijin Mining Group, has raised its output guidance as copper prices rally toward record highs due to expected supply deficits. In a recent filing to the Shanghai Stock Exchange, Zijin announced plans to boost mined copper production to 1.22 million tons by 2025, a 4% increase from its previous target. The company projects that by 2028, output will surge to between 1.5 and 1.6 million tons, marking a roughly 50% increase from 2023 levels. The Fujian-based company attributed the revisions to strong fundamentals and capacity expansion… Read More Here
Tertiary Minerals Receives Environmental Approval for Mupala Copper Project in Zambia 5 Mining in Zambia Copper New Mining Projects 

Tertiary Minerals Receives Environmental Approval for Mupala Copper Project in Zambia

Constance
Tertiary Minerals, an AIM-listed mineral exploration and development company, has secured approval for the environmental project brief (EPB) for its Mupala Copper Project in Zambia. This milestone allows Tertiary Minerals to commence mineral exploration activities at the Mupala project, following the approval granted by the Zambia Environmental Management Agency. The approval comes after obtaining a letter of consent from the Sailunga Chiefdom earlier this year. Preparations are underway to kickstart work programs next month, which will include soil sampling to verify identified anomalies and assist with surface regolith mapping. Situated… Read More Here
Zambia's Mining Industry Faces Scrutiny Over Exclusion of Local Truck Drivers 6 Mining in Zambia Copper Transport and Logistics 

Zambia’s Mining Industry Faces Scrutiny Over Exclusion of Local Truck Drivers

Constance
Zambia’s mining industry, a key driver of the nation’s economy, is facing scrutiny over the exclusion of Zambian truck drivers from import and export operations. The Parliamentary Committee on Transports, Works, and Supply has raised concerns about this issue, which came to light during a meeting between the committee, led by Chairperson Mubika Mubika of the Shang’ombo constituency, and the management of Mopani Copper Mines. The committee found that Zambian truck drivers were systematically overlooked for hauling goods and services, hindering local business opportunities and overall economic growth. In response,… Read More Here
Trafigura and IXM Scramble to Cover Short Positions as Copper Prices Hit Record Highs 7 International Copper 

Trafigura and IXM Scramble to Cover Short Positions as Copper Prices Hit Record Highs

Constance
Commodity traders Trafigura and IXM are seeking to buy physical copper to cover substantial short positions on the US exchange CME, where copper prices reached unprecedented levels on Wednesday, according to five sources with direct knowledge of the matter. Short positions can represent bets on declining prices or producers hedging their output. A short squeeze occurs when holders of these positions are compelled to buy them back at a loss or deliver physical copper to close them out. Copper prices on COMEX, part of the CME Group, soared to a… Read More Here
African Copper Powerhouses Set to Meet Growing Global Copper Demand 8 Mining in DRC Copper Mining in Zambia 

African Copper Powerhouses Set to Meet Growing Global Copper Demand

Constance
The leading copper producers globally in 2023 were Chile, Peru, the DRC, China, and the United States, together accounting for 59% of worldwide output, or around 21.5 million tonnes. Amid economic recovery and market speculation, copper prices surged, hitting about $10,000 per ton. Investment banks, like Goldman Sachs, anticipate further price increases due to persistent supply deficits expected from 2024. Africa, particularly the DRC and Zambia, is also emerging as a significant player in copper production, with the potential to fill the growing supply gap projected to reach 10 million… Read More Here
Rwanda Ready to Drop "Conflict Mineral" Accusations Against Apple 9 Mining in DRC Battery Metals Cobalt Copper 

Rwanda Ready to Drop “Conflict Mineral” Accusations Against Apple

Constance
Rwanda has strongly denied accusations from the Democratic Republic of Congo (DRC) that Apple sources conflict minerals from a disputed area within the DRC. Rwandan government spokeswoman Yolande Makolo labeled these allegations as “baseless” and suggested they are part of ongoing attempts by the DRC to shift media focus onto Rwanda by leveraging Apple’s global profile. Apple has responded by reaffirming its commitment to responsible sourcing, stating it has verified the origins of minerals in its supply chain and found no evidence of financing armed groups in the DRC as… Read More Here
DRC Lifts Suspension on Chinese-Owned Copper-Cobalt Mine Amid Radiation Concerns 10 Mining in DRC Cobalt Copper 

DRC Lifts Suspension on Chinese-Owned Copper-Cobalt Mine Amid Radiation Concerns

Constance
The government of the Democratic Republic of Congo has revoked the suspension order on a Congolese copper and cobalt operation majority-owned by China’s Zijin Mining Group Co. Ltd. Last month, Congo’s mines ministry halted the activities of the COMMUS project, in which Zijin owns a 72% stake, due to high radiation levels detected in mineral products returned from South Africa. However, in a letter dated May 10, seen by Reuters, the mines ministry confirmed that it had received a report on the investigation’s findings and subsequently lifted the suspension. Mining… Read More Here

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