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Category: Copper

Barrick Hunts New Gold and Copper Prospects in DRC From Kibali Base 1 Mining in DRC Copper Gold Press Release 

Barrick Hunts New Gold and Copper Prospects in DRC From Kibali Base

Constance
 Based on the success of Kibali, which Barrick has built into Africa’s largest gold mine, the company is ready to invest in new gold and copper opportunities in partnership with the government of the DRC, says president and chief executive Mark Bristow. Speaking to media at a site visit to the mine, Bristow said Kibali was on track for another value-creating year on the back of a strong production performance. It was also well set to replace the ounces that were being depleted by mining with more of the same… Read More Here
Revitalized Mopani Copper Mines Projected to Boost Employment and Economic Growth 2 Mining in Zambia Copper Economy 

Revitalized Mopani Copper Mines Projected to Boost Employment and Economic Growth

Constance
Minister of Mines and Minerals Development, Paul Kabuswe, has announced that the rejuvenated Mopani Copper Mines (MCM) is poised to create 2,000 direct job opportunities and an additional 1,000 indirect employment avenues. Today, President Hakainde Hichilema is set to formally transfer Mopani to its new equity partners, International Resources Holding (IRH) from Abu Dhabi, who have acquired a 51 percent stake in the mine. The IRH agreement, valued at US$1.1 billion, earmarks a significant portion for settling outstanding dues to contractors, suppliers, and addressing debt obligations to Glencore. In 2021,… Read More Here
Revitalized Sino-Congolese Program Promises Rigorous Oversight and Expertise 3 Mining in DRC Copper 

Revitalized Sino-Congolese Program Promises Rigorous Oversight and Expertise

Constance
Following a prolonged period of inactivity, the revitalization of the Sino-Congolese program sets a new pace, emphasizing expertise and rigorous oversight to avoid past mistakes. Freddy Yodi Shembo, Director General of the Agency for steering, coordination, and monitoring of collaboration agreements between the DRC and private partners (APCSC), emphasized the importance of expertise in all project activities during a press briefing organized by the Minister of Communication and Media on March 19, 2024. Shembo highlighted the APCSC’s commitment to permanent and meticulous control, utilizing the expertise of the Congolese Agency… Read More Here
Sinomine Resource Group Makes Significant Investment in Zambian Copper Mine 4 Mining in Zambia Copper Mergers & Acquisitions 

Sinomine Resource Group Makes Significant Investment in Zambian Copper Mine

Constance
Shares of Sinomine Resource Group experienced a notable surge following the announcement of its plan to acquire a majority stake in a Zambian copper mine for USD 58.5 million. Sinomine closed 6.8 percent higher at CNY 40.79 (USD 5.67) on the Shenzhen stock exchange today. The acquisition will be conducted through Sinomine’s subsidiary, African Minerals, which will purchase a 65 percent stake in Junction Mining from Momentum Ventures and Chifupu Resources. Junction Mining’s primary asset is the Kitumba copper project in Zambia, boasting 27.9 million tons of proven… Read More Here
Copper and Other Mining Product Prices Show Slight Increases in International Markets 5 Mining in DRC Cobalt Copper Gold 

Copper and Other Mining Product Prices Show Slight Increases in International Markets

Constance
During the period between March 9 and 14, 2024, the price of copper was expected to experience a slight increase in international markets. According to the National Mercurial Commission of the Ministry of Foreign Trade, copper, a key mining product exported from the Democratic Republic of Congo (DRC), was projected to sell at USD 8,406 per tonne during this period, compared to USD 8,335 per tonne the previous week, indicating a modest increase of USD 71.45 or 0.86%. Additionally, other main mining products exported from the DRC, such as cobalt,… Read More Here
DRC Poised to Overtake Peru as World's Second Largest Copper Producer 6 Mining in DRC Copper Economy 

DRC Poised to Overtake Peru as World’s Second Largest Copper Producer

Constance1 Comment
The Democratic Republic of Congo (DRC), with its vast mineral wealth estimated at $24 trillion, is on the brink of surpassing Peru to become the world’s second-largest copper producer. In 2023, the DRC, already Africa’s leading copper producer, exported 2.84 million tonnes of copper, securing its position as the world’s second-largest copper producer, ahead of Peru, which exported 2.76 million tonnes. While these statistics await international confirmation, forecasts from Wood Mackenzie suggest that the DRC is on track to overtake Peru by 2026-2027, a sentiment echoed by Ruben Arrieta, a… Read More Here
FIRST QUANTUM CEO INSPECTS PROGRESS OF S3 EXPANSION AT KANSANSHI 7 Mining in Zambia Copper Economy 

FIRST QUANTUM CEO INSPECTS PROGRESS OF S3 EXPANSION AT KANSANSHI

Constance
First Quantum Minerals Chief Executive, Tristan Pascall, has been on the ground at Kansanshi to personally inspect the progress the company is making with its S3 expansion project. Of a total investment commitment of US$1.25 billion, the majority of this is being spent this year to ensure the entire project is completed by mid-2025. The S3 expansion entails an expansion of the mine pit and the mining fleet that services it, as well as the construction of a new processing plant, and a major expansion of the Kansanshi smelter. The… Read More Here
Barrick to Grow Production and Value on Global Asset Foundation 8 Gold Copper International Press Release 

Barrick to Grow Production and Value on Global Asset Foundation

Constance
Barrick’s peerless gold and rapidly growing copper portfolios now extend across all the major gold and copper districts worldwide, providing the company with a solid base from which to grow its production and value, directed by a proven strategy and supported by a broad spectrum of skills, says president and chief executive Mark Bristow in the 2023 Annual Report published today. “Discovery and development are the true drivers of value and our strong focus on exploration is evident in our widespread hunt for new discoveries with Tier One1 potential as… Read More Here
Copperbelt Province Minister Urges Mopani Copper Mines to Settle Debts 9 Mining in Zambia Copper 

Copperbelt Province Minister Urges Mopani Copper Mines to Settle Debts

Constance
Copperbelt Province Minister Elisha Matambo has called upon Mopani Copper Mines (MCM) to initiate the repayment of outstanding debts owed to Kitwe City Council (KCC) following the recent unlocking of the mining firm. MCM’s substantial indebtedness to the local authority has reportedly impeded the provision of essential services. Last month, shareholders of ZCCM-IH unanimously approved the acquisition of a 51 percent shareholding in Mopani Copper Mines Plc by Delta Mining Limited, a subsidiary of International Resource Holdings (IRH), representing an investment of up to US$1.1 billion. While ZCCM-IH retains a… Read More Here
US Turns to Africa to Diversify Battery Metal Supply Chains 10 Cobalt Battery Metals Copper Lithium 

US Turns to Africa to Diversify Battery Metal Supply Chains

Constance
The United States is seeking to Africa to reduce reliance on Chinese-controlled battery metals and diminish Russia’s influence on mineral markets, US Deputy Treasury Secretary Wally Adeyemo stated on Thursday. In light of the pandemic and geopolitical tensions, Western nations are striving to decrease dependency on Chinese supply chains and disentangle their economies from Russia. As the US advances its energy transition agenda, it aims to catch up with China’s decade-long efforts to secure access to minerals crucial for electric vehicle batteries and solar panels. “We don’t want to overly… Read More Here

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