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Category: Copper

Successful Project Financing Secured for Centinela Copper Mine Expansion in Chile 1 International Copper 

Successful Project Financing Secured for Centinela Copper Mine Expansion in Chile

Constance
Marubeni Corporation, in collaboration with UK-based Antofagasta plc, has successfully secured loan agreements totaling $2.5 billion for the expansion project of Minera Centinela, situated in Chile. The financing agreement, concluded on March 15, involves a consortium of international lenders, including prominent institutions such as the Japan Bank for International Cooperation, Export Development Canada, Export-Import Bank of Korea, KfW IPEX-Bank, Sumitomo Mitsui Banking Corporation, Crédit Agricole, Société Générale, and Natixis. This landmark agreement aims to expedite the construction process and facilitate the commencement of production under the Expansion Project by 2027.… Read More Here
MOPANI ATTENDS 7TH ZAMBIA-CANADA CORPORATE SOCIAL RESPONSIBILITY FORUM 2 Mining in Zambia Copper Corporate social responsibility 

MOPANI ATTENDS 7TH ZAMBIA-CANADA CORPORATE SOCIAL RESPONSIBILITY FORUM

Constance
Mopani Copper Mines PLC took part in the just ended 7th Zambia-Canada Corporate Social Responsibility Forum in Solwezi. The event, which aimed to foster the exchange of ideas regarding CSR, community engagement, and sustainable investment, took place from March 18th to 19th, 2024, at Solwezi’s Kansanshi Hotel in the North-Western Province. This year’s CSR Forum took place under the theme “Sharing Best Practices in Community Relations, Environmental Stewardship, and Responsible Business Conduct,” and brought together mining experts, traditional leaders, the Canadian High Commission, and other stakeholders. Under the theme of “Sharing Best Practices… Read More Here
Abu Dhabi Firm Eyes Acquisition of Zambia's Lubambe Copper Mine 3 Mining in Zambia Copper Economy 

Abu Dhabi Firm Eyes Acquisition of Zambia’s Lubambe Copper Mine

Constance1 Comment
An entity of the International Holding Company (IHC), Abu Dhabi’s esteemed corporation, has expressed interest in acquiring Zambia’s Lubambe copper mine, a deal that could potentially complicate the ongoing sale process initiated by China’s JCHX Mining, according to sources familiar with the matter. International Resources Holding (IRH), a subsidiary of IHC, has communicated its interest to EMR Capital, a private equity manager holding an 80% stake in the Lubambe copper project, currently up for sale. This development adds a layer of complexity to the sale process already initiated by JCHX,… Read More Here
FQM REDOUBLES TREE PLANTING EFFORTS FOR 2024 4 Mining in Zambia Copper Corporate social responsibility Environment Social Governance (ESG) 

FQM REDOUBLES TREE PLANTING EFFORTS FOR 2024

Constance
First Quantum Minerals (FQM) is almost doubling the mammoth tree planting exercise at its Kansanshi Mine in Solwezi. The company is this season planting 30,000 trees and rehabilitating over 35 hectares of mine disturbed land. Last year Kansanshi planted 18,000 trees as part of its commitment to sustainable mining practices and efforts towards environmental conservation. Arnold Malambo, Manager Environment at Kansanshi Mine in Solwezi said: “As a company, we endeavour to extract resources responsibly and attach great importance to the conservation of nature. For example, in the case where the… Read More Here
FQM EMPHASISES TRANSPARENCY, SUSTAINABILITY AND ECONOMIC CONTRIBUTIONS  5 Mining in Zambia Copper Economy 

FQM EMPHASISES TRANSPARENCY, SUSTAINABILITY AND ECONOMIC CONTRIBUTIONS 

Constance
First Quantum Minerals has highlighted the company’s commitment to transparency, sustainability, and economic contributions as vital to fostering progress in the mining sector. And emphasised the importance of credible corporate communications reflecting real, tangible activities and progress on the ground. Speaking at the Zambia Institute of Public Relations (ZIPRC) 2024 Annual Conference, FQM Trident Senior Public Relations Specialist Miriam Harmon emphasised the mining firm’s ethos that effective communication was key in fostering understanding, collaboration, and progress in the mining industry and the nation at large. The mining firm noted that… Read More Here
Kitoko – Ivanhoe’s New High-Grade Copper Discovery 6 Mining in DRC Copper Press Release 

Kitoko – Ivanhoe’s New High-Grade Copper Discovery

Constance
In late 2023, Ivanhoe Mines announced a significant, high-grade copper discover in the Western Foreland, adjacent to the Kamoa-Kakula Copper Complex in the Democratic Republic of Congo (DRC). The discover, coined Kitoko, means “beautiful” or “gift” in several local languages spoken throughout the DRC. This exciting discovery confirms the presence of a significant high-grade copper mineralizing system between 1,000 meters and 1,140 metres below the surface. Kitoko is a fine-grained copper mineralization hosted in flat-lying siltstone in the lower Grand Conglomerate, like Kamoa, Kakula, Makoko, and Kiala deposits, with the… Read More Here
Mopani Copper Mines Relaunch Marks New Era for Zambia 7 Mining in Zambia Copper Partnership 

Mopani Copper Mines Relaunch Marks New Era for Zambia

Constance
In a historic event for Kitwe, the Copperbelt, and Zambia’s mining sector, Mopani Copper Mines celebrated its revitalization, heralding a significant economic shift for the region and the nation. President Hakainde Hichilema expressed deep appreciation for the collaborative efforts that led to the relaunch, emphasizing the meticulous negotiations with International Resource Holdings (IRH) from Abu Dhabi. The partnership, characterized by mutual respect and equitable benefits, ensures Zambian citizens retain a 49% shareholding through ZCCM-IH, showcasing a commitment to national prosperity. IRH’s $1.1 billion investment marks a groundbreaking milestone, representing the… Read More Here
DRC Central Bank Report Highlights Surge in Copper Prices and Oil Prices 8 Mining in DRC Copper Economy 

DRC Central Bank Report Highlights Surge in Copper Prices and Oil Prices

Constance
The Central Bank of Congo’s economic report reveals that the price of copper soared by 4.56% to reach USD 9,050.00 on March 14, 2023. Factors such as expectations of lower US interest rates, a weakening dollar, and copper supply issues for Chinese smelters contributed to this increase. Compared to December 31, 2023, copper prices surged by 6.08%. Additionally, there was a 1.29% increase compared to March 2023. In the same period, the price of oil also saw a notable rise, reaching USD 85.27 per barrel on March 14, 2024, marking… Read More Here
Mopani Copper Mines Handover Boosts Economic Hopes in Kitwe 9 Mining in Zambia Copper Economy 

Mopani Copper Mines Handover Boosts Economic Hopes in Kitwe

Constance
The impending handover of Mopani Copper Mines to Delta Mining Limited by President Hakainde Hichilema is hailed as a significant milestone for the entire Copperbelt region, according to stakeholders in Kitwe. Lawrence Mwanza, Kitwe District Commissioner, believes this development will catalyze economic growth and youth employment opportunities, underscoring the government’s commitment to fostering sustainable mining partnerships with investors like International Resources Holdings. And Mining engineer Boniface Matanda commends President Hichilema’s administration for ensuring Mopani Copper Mines’ return to full production, highlighting the positive impact on the local economy. Saul Simujika,… Read More Here
Zambia's Govt Expects Mopani Handover to Boost Kwacha Stability 10 Mining in Zambia Copper Economy News in Brief 

Zambia’s Govt Expects Mopani Handover to Boost Kwacha Stability

Constance
Handover of Mopani Mines to Delta Mining Expected to Bolster Kwacha Stability, says Government Spokesperson Cornelius Mweetwa, the Chief Government Spokesperson, asserts that the transfer of Mopani Copper Mines to Delta Mining Limited will play a pivotal role in further stabilizing the Kwacha against major convertible currencies. Mweetwa emphasizes that the activation of Mopani’s operations will not only contribute to Kwacha stability against the dollar and other convertible currencies but also lead to an increase in copper production. President Hakainde Hichilema is slated to formally hand over Mopani Mines to… Read More Here

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