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Category: Copper

Zambia's Govt Urges Public Support for Mopani Copper Mines Revitalization 1 Mining in Zambia Copper Economy 

Zambia’s Govt Urges Public Support for Mopani Copper Mines Revitalization

Constance
The Zambian government has urged citizens to disregard political rhetoric aimed at undermining its efforts to revitalize Mopani Copper Mines (MCM) through a partnership with International Resources Holding (IRH). Minister of Mines and Minerals Development, Paul Kabuswe, emphasized that the decision to allocate 51 percent shares to IRH is solely aimed at rejuvenating operations at the mine and should not be politicized. Kabuswe urged the public to ignore false rumors about the deal, stating that their intentions are solely to discredit the government. He clarified that despite the partnership, the… Read More Here
The Mining Process in the Democratic Republic of Congo 2 Mining in DRC Cobalt Copper Mining Process You got to know this 

The Mining Process in the Democratic Republic of Congo

Constance
The Democratic Republic of Congo (DRC) is a country rich in natural resources, particularly minerals, making mining a significant contributor to its economy. With vast reserves of cobalt, copper, gold, diamonds, and other minerals, the DRC holds a prominent position in the global mining industry. Let’s delve into the mining process in this mineral-rich nation. 1.Exploration: The mining process in the DRC typically begins with exploration activities aimed at identifying potential mineral deposits. Exploration methods may include geological surveys, remote sensing, drilling, and sampling to determine the size, grade, and… Read More Here
Xtract Resources Enters JV to Acquire Majority Stake in Zambia's Silverking Copper Mine 3 Mining in Zambia Copper 

Xtract Resources Enters JV to Acquire Majority Stake in Zambia’s Silverking Copper Mine

Constance
Xtract Resources has announced a joint venture (JV) agreement with Oval Mining, in collaboration with Cooperlemon Consultancy, aimed at acquiring up to a 70% stake in Zambia’s Silverking copper mine and its associated exploration license. The initial option period spans 18 months, during which Xtract is obligated to invest $500,000 in exploration activities to earn a 51% interest. Upon completion of the earn-in period or upon reaching the investment threshold, the JV will be formally established between Xtract and Cooperlemon. Xtract retains the option to increase its stake to 70%… Read More Here
Progress Update on Red Rock Resources' Arbitration in the DRC 4 Mining in DRC Cobalt Copper 

Progress Update on Red Rock Resources’ Arbitration in the DRC

Constance
Red Rock Resources, listed on AIM, has issued a significant update regarding its ongoing arbitration proceedings in the Democratic Republic of Congo (DRC) concerning the company’s stake in the VUP copper/cobalt joint venture (JV). As of February 5, Red Rock announced that the finalization of the arbitration award regarding its claim for a portion of the sale proceeds from a JV asset was pending signature and release. Despite a temporary halt in proceedings due to Presidential elections and the subsequent formation of a new administration, Red Rock has indicated that… Read More Here
Lwisha Artisanal Miners Face Harassment and Exploitation by State Services 5 Mining in DRC Artisanal mining Cobalt Copper Zinc 

Lwisha Artisanal Miners Face Harassment and Exploitation by State Services

Constance
At artisanal mining sites in Lwisha, located in the Haut-Katanga province, diggers endure not only the illegal presence of numerous state services but also harassment and arbitrary taxes. In areas like “Kasonga” or “Double Band,” where copper is extracted, artisanal diggers are subjected to abuses by state services. These services control the region, imposing various taxes and fees without clear justification, plunging diggers into perpetual poverty. Working under deplorable conditions, diggers in Lufira’s sector face multiple barriers controlled by different state departments, each demanding payments upon each visit. Refusal often… Read More Here
African Rainbow Minerals Invests in Surge Copper's Critical Metals District 6 International Copper 

African Rainbow Minerals Invests in Surge Copper’s Critical Metals District

Constance
African Rainbow Minerals (ARM), a diversified mining company listed on the Johannesburg Stock Exchange, has finalized a subscription agreement with Surge Copper, a Canadian company advancing a critical metals district in British Columbia. Through its subsidiary ARM Copper, ARM will invest C$3.8 million to subscribe for 39,608,708 common shares of Surge Copper. Upon completion of the placement, ARM will hold a 15% stake in Surge, subject to approval from the TSX Venture Exchange and the South African Reserve Bank. As a member of the International Council on Mining and Metals,… Read More Here
Zambia's Copper Production Set to Soar to 1 Million Tons by 2026 Amid Mine Expansions 7 Mining in Zambia Copper Economy 

Zambia’s Copper Production Set to Soar to 1 Million Tons by 2026 Amid Mine Expansions

Constance
Zambia anticipates a significant rise in copper output, potentially reaching close to 1 million tons by 2026, driven by investments in expanding production at various mines, including those owned by First Quantum Minerals, according to Finance Minister Situmbeko Musokotwane. Copper production, crucial for Zambia’s economic prosperity, has been experiencing a gradual decline in Africa’s second-largest producer of the metal. Despite this, the government aims to boost output to around 3 million tons within the next decade. In 2023, copper output decreased to 698,000 tons from 763,000 tons the previous year,… Read More Here
Japanese copper smelters’ H1 output seen rising 4.2% y/y 8 International Copper 

Japanese copper smelters’ H1 output seen rising 4.2% y/y

Constance
Japan’s refined copper production in the first half of the 2024/25 financial year is expected to rise 4.2% from a year earlier, Reuters calculations from plans outlined by smelters showed, amid stronger local demand from the chip industry. The financial first half falls between April and September. Sumitomo Metal Mining (SMM) expects a 21% surge in first-half output following a two-month maintenance shutdown at its Toyo Smelter & Refinery between September and November last year, a company spokesperson said. Japan’s biggest copper supplier Pan Pacific Copper (PPC) also expects a… Read More Here
Copper Prices Expected to Decline in DRC 9 Mining in DRC Copper Zinc 

Copper Prices Expected to Decline in DRC

Constance
The price of copper is anticipated to decrease during the first week of April 2024, disappointing hopes for producing countries like the Democratic Republic of Congo (DRC). Projections from experts at the National Mercurial Commission of the Ministry of Foreign Trade of the DRC suggest that copper will be priced at USD 8,763.30 per tonne from April 1 to 6, down from USD 8,866.65 per tonne the previous week, marking a significant drop of 103 USD per tonne. In 2023, mining companies in the DRC produced 2,842,022 million tonnes of… Read More Here
First Quantum Acquires Majority Stake in La Granja Copper Project in Peru 10 International Copper 

First Quantum Acquires Majority Stake in La Granja Copper Project in Peru

Constance
First Quantum Minerals has acquired a 55% stake in the La Granja copper project in Peru for US$105 million in a joint venture with Rio Tinto. La Granja, located in Cajamarca, northern Peru, holds substantial copper reserves and has the potential to become a significant long-term mining operation. Following regulatory approvals from the Government of Peru, First Quantum’s investment will total up to US$546 million, exclusively financing operational and capital costs to advance the project through feasibility studies and development. As the majority shareholder, First Quantum will oversee project operations,… Read More Here

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