Copper - Copperbelt Katanga Mining

Panamanian President Delays Addressing FQM Copper Mine Issues Until 2025 1

Panamanian President Jose Raul Mulino announced on Thursday that the government will not address issues surrounding the shuttered First Quantum copper mine until early 2025. The Cobre Panama mine, one of the world’s largest copper sources, was closed in November after Panama’s Supreme Court declared its contract unconstitutional. First Quantum had been granted a 20-year mining right with an option to extend for another 20 years, in exchange for $375 million in annual revenue to Panama. Critics argued the contract was too favorable to the company, and environmental protests against… Read More Here

Zambia’s Copper Production Set to Surge by 2027

July 26, 2024July 26, 2024 Constance

Zambia’s annual copper production is projected to grow by more than 40% to reach 1 million tons by 2027, according to the country’s Finance Ministry. As Africa’s second-largest copper producer, Zambia aims to capitalize on the anticipated supply shortfall driven by the energy transition, which is increasing demand for copper in electric vehicles and wind farms. In 2023, Zambia’s copper output fell to a 14-year low of 698,566 tons due to frequent tax changes and conflicts with the previous government. However, the Ministry of Finance and National Planning’s medium-term budget… Read More Here

International Copper

FQM launches standstill deal with Chinese shareholder

July 25, 2024July 25, 2024 Constance

First Quantum Minerals Ltd. reached an agreement with Jiangxi Copper Co Ltd., its second-largest shareholder, that limits the Chinese firm’s ownership of the Canadian copper producer. First Quantum said Tuesday that the shareholder rights agreement prevents Jiangxi from buying more stock in t company or selling a shares block of 5% or larger without First Quantum’s consent. The three-year agreement also gives Jiangxi the right to nominate one person for consideration by First Quantum’s governance committee to the board of directors. The agreement follows efforts by Canada’s government to crack… Read More Here

Mining in Zambia Copper

Vedanta Resources Seeks Partners to Boost Zambian Copper Output

July 25, 2024July 25, 2024 Constance

Vedanta Resources Ltd., founded by billionaire Anil Agarwal, is seeking business partners to enhance production at its Zambian copper assets. This move follows the company’s regaining control of these assets after years of legal disputes. As part of a $1 billion investment plan for the Konkola Copper Mines (KCM) assets, Vedanta is looking for partners to engage in exploration, development, and production. The call for expressions of interest was announced in the state-owned Times of Zambia newspaper, with a deadline of July 31. Vedanta lost control of KCM in 2019… Read More Here

International Copper

Sandfire Successfully Commissions New Filter Press at Motheo Copper Mine

July 24, 2024July 24, 2024 Constance

Sandfire has successfully commissioned a new permanent filter press at the Motheo Copper Mine in Botswana. During the initial ramp-up of the Motheo process plant in the September Quarter of 2023, the original equipment manufacturer (OEM) filter press installed during construction failed to meet design parameters. In response, an interim solution using mobile filter units was implemented, enabling the safe ramp-up of copper concentrate production at planned rates and specifications. An $8 million capital investment secured the procurement, installation, and commissioning of a Larox filter press to support the long-term… Read More Here

International Battery Metals Copper

Saudi Arabia to visit Brazil and Chile as seeks to diversify mining

July 21, 2024July 21, 2024 Constance

Saudi Arabia’s mining minister will visit Brazil and Chile over the coming two weeks, the ministry said on Sunday, as the world’s leading oil exporter seeks to expand its international presence in mining. In Brazil, talks will cover mining, food processing, and aviation, while in Chile the focus is on lithium, needed for electric vehicle batteries. “This aligns with the Kingdom’s direction towards expanding the production of EVs,” a Saudi government statement said. Saudi Minister of Industry and Mineral Resources Bandar Alkhorayaf will land in Brazil on Monday and leave… Read More Here

Gold Copper

Montage Gold Seeks $131.6 Million to Accelerate Koné Gold Project in Ivory Coast

July 21, 2024July 21, 2024 Constance

Montage Gold, a Canadian company controlling 90% of the Koné gold deposit in Ivory Coast, announced on July 16 its intention to raise $131.6 million to fast-track the development of its largest Ivorian mining asset. The company aims to close the funding round by August 12. Zijin Mining Group, active in copper mining in the Democratic Republic of Congo (DRC), has pledged $41 million, while the Swedish Lundin Family Trusts will contribute $31.4 million. The Koné project is projected to commence production in 2027. “We are thrilled to welcome Zijin… Read More Here

Mining in DRC Copper Mining Supply Tenders

Twelve Congolese Companies Secure Subcontracting Deals with Kamoa Copper

July 20, 2024July 20, 2024 Constance

Twelve Congolese companies have been granted subcontracting contracts with Kamoa Copper, a subsidiary of Ivanhoe Mines operating in Lualaba province. This significant milestone is attributed to the diligent efforts of the Private Sector Subcontracting Regulatory Authority (ARSP). During his visit to Lualaba province, Miguel Kashal participated in the signing of contracts between these subcontractors and Kamoa Copper. He was accompanied by members of the ARSP Board of Directors, senior executives, and a strong delegation of entrepreneurs. The companies awarded the contracts include startups and local community members. The ARSP Director… Read More Here

Mining in Zambia Copper Economy Electricity

Zambia Urges Mining Companies to Double Power-Saving Efforts Amid Severe Drought

July 20, 2024July 20, 2024 Constance

Zambia has requested mining companies, operating in Africa’s second-largest copper producer, to double their power-saving measures to 40% of their normal demand due to the worst drought in decades impacting hydroelectric power generation. Zesco Ltd., the state-owned power utility, has asked operators to either increase their power curtailments or source emergency power independently starting this month. First Quantum Minerals Ltd., which is responsible for over half of Zambia’s copper output, confirmed this request. Zesco did not respond to a request for comment. First Quantum has managed to cover more than… Read More Here

International Copper

Panama vows to talk to FQM in coming months on shuttered mine

July 20, 2024July 20, 2024 Constance

Panama’s government says it will engage with First Quantum Minerals Ltd. in the coming months to discuss the environmental impact of its shuttered copper mine. Panama’s new president, who took office earlier this month, has said that the mine may need to be temporarily reopened in order to responsibly prepare for a permanent closure. The Central American government is focusing on more pressing priorities for now, but will have discussions with First Quantum in due course, Foreign Affairs Minister Javier Martinez-Acha Vasquez said Wednesday. “From the environmental standpoint, it has… Read More Here