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Category: Copper

Zambia Embraces US-Backed Project to Transform Copper Mining Logistics 1 Mining in Zambia Copper Mining in DRC Transport and Logistics 

Zambia Embraces US-Backed Project to Transform Copper Mining Logistics

Constance
Zambian President Hakainde Hichilema has hailed a transformative initiative supported by the United States, aiming to link the nation’s copper mines to the Angolan port of Lobito, presenting what he calls a “once-in-a-lifetime” opportunity for Zambia. The ambitious project involves the construction of new railway infrastructure in Zambia, connecting mining operations owned by companies such as Barrick Gold Corp. and First Quantum Minerals Ltd. to the Atlantic Ocean port of Lobito in Angola. The United States is contributing to the refurbishment of the Angolan railway with a $250 million loan,… Read More Here
SOLWEZI COOPERATIVES RECEIVE K2.6M BOOST FROM FQM  2 Mining in Zambia Copper Corporate social responsibility 

SOLWEZI COOPERATIVES RECEIVE K2.6M BOOST FROM FQM 

Constance
First Quantum Minerals (FQM) has doubled the number of small business cooperatives it supports under its Tujipamo Community Project to empower entrepreneurs in the areas around its Kansanshi mine in Solwezi. Some K2.6 million has been disbursed to 12 cooperatives this year, building on the support for six cooperatives last year by the company’s Kansanshi Mining operation. The Tujipamo Community Project builds upon the success of last year’s pilot project, under which Kansanshi Mining supported six cooperatives with more than K5 million. The positive impact of this initial endeavour encouraged… Read More Here
Panama to defend interests in FQM case, official says 3 Copper International 

Panama to defend interests in FQM case, official says

Constance
Panama will defend its interests in a legal dispute with Canadian miner First Quantum, Panama’s deputy finance minister told Reuters on Monday. The miner had last week said it was seeking $20 billion through international arbitration after Panama ordered the closure of a major copper mine there. The government ordered the shutdown in December after protests calling for more environmental protections erupted across the country and a court ruling deemed the contract to run the mine unconstitutional. “As we have done before will defend the interests of the Republic of… Read More Here
Zambia and World Bank Partner to Boost Copper Production 4 Mining in Zambia Copper Economy 

Zambia and World Bank Partner to Boost Copper Production

Constance
Zambia, in collaboration with the World Bank, has embarked on a strategic initiative to elevate the country’s annual copper production to three million metric tonnes, signaling a concerted effort to revitalize the economy and leverage its mineral wealth. Speaking at the Roadmap for Leveraging Zambia’s Energy Transition Mineral Endowment for Economic Transformation Workshop in Lusaka, Finance and National Planning Minister, Situmbeko Musokotwane, unveiled plans for this ambitious endeavor. He emphasized the importance of value addition, citing a robust market demand poised to drive Zambia’s copper industry forward. “Despite the passage… Read More Here
Transformative Copper Venture Set to Energize Mumbwa Region in Zambia 5 Copper Mining in Zambia New Mining Projects 

Transformative Copper Venture Set to Energize Mumbwa Region in Zambia

Constance
In a significant development poised to revitalize Central Province, a joint venture copper mine, the Kitumba Mine, is set to commence operations in Mumbwa with an initial infusion of US$500 million, promising to generate approximately 2,000 direct employment opportunities. Minister of Mines and Minerals Development, Paul Kabuswe, unveiled this promising venture during an interview on ZNBC’s Sunday Interview program, where he underscored the transformative impact expected in the mining sector. “Kitumba Mine, a collaborative effort between Zambian and British stakeholders, marks a turning point for the region,” Minister Kabuswe remarked.… Read More Here
Tertiary Minerals to own 90% of Zambia copper assets in new JV 6 Mining in Zambia Copper 

Tertiary Minerals to own 90% of Zambia copper assets in new JV

Constance
Tertiary Minerals PLC announced on Monday a new joint venture deal with Zambia-based Mwashia Resources Ltd, consolidating ownership of the Jacks, Mukai, and Mushima North exploration licenses into a new Zambian company. Tertiary Minerals, a mineral exploration and development company focusing on energy transition metals, operates projects in the US and Zambia. Under the agreement, the new company will be 90% owned by Tertiary’s Zambian subsidiary, Tertiary Minerals (Zambia) Ltd, with Mwashia holding the remaining 10%. Previously, all licenses were held by Mwashia. Tertiary possesses the right to a 90%… Read More Here
Ivanhoe Mines Reveals 2023 Financials and Project Updates at BMO Global Metals Conference 7 Mining in DRC Copper Gold Nickel Press Release 

Ivanhoe Mines Reveals 2023 Financials and Project Updates at BMO Global Metals Conference

Constance
Ivanhoe Mines’ (TSX: IVN) (OTCQX: IVPAF) President Marna Cloete and Chief Financial Officer David van Heerden were pleased to present, ahead of the 33rd BMO Global Metals, Mining & Critical Minerals Conference in Hollywood, Florida, the company’s financial results for the year ended December 31, 2023, and provided an operations and project development update. Ivanhoe Mines is a leading Canadian mining company developing and operating its four principal mining and exploration projects in Southern Africa: expanding operations at the world-class Kamoa-Kakula Copper Complex (Kamoa-Kakula) in the Democratic Republic of Congo… Read More Here
Buenassa Secures $3.5M Grant for Sustainable Metal Refinery in DRC 8 Mining in DRC Battery Metals Cobalt Copper 

Buenassa Secures $3.5M Grant for Sustainable Metal Refinery in DRC

Constance
Buenassa, a pioneering company in the metal processing and trading sector, has reached a significant milestone with the award of a $3.5 million grant from the Democratic Republic of the Congo (DRC) Government through the Fonds de Promotion de l’Industrie (FPI). This grant marks the initial tranche of funding for Buenassa’s ambitious Project Preparation Facility, paving the way for an innovative copper and cobalt refinery project in the province of Lualaba. The venture represents not only a leap forward in industrial development but also a commitment to sustainable practices and… Read More Here
Zambia's Govt to Finalize Handover of Mopani and Konkola Copper Mines to new Investors 9 Mining in Zambia Copper Economy 

Zambia’s Govt to Finalize Handover of Mopani and Konkola Copper Mines to new Investors

Constance
The Zambian government has announced its plans to finalize the handover of Mopani Copper Mines to a new investor by the end of February 2024. Additionally, Finance and National Planning Minister Situmbeko Musokotwane revealed that only one step remains for Konkola Copper Mines to be returned to Vedanta, after which production will resume. Dr. Musokotwane emphasized that once these processes are completed, both mining giants will resume production, bringing economic revival to the Copperbelt region and the entire country. He highlighted that even before production restarts, investors are already sending… Read More Here
FQM shares jump on refinancing measures 10 Copper International 

FQM shares jump on refinancing measures

Constance
First Quantum Minerals (TSE: FM) shares surged as much as 11% after it agreed to sell $1 billion in stock and raise $1.6 billion from a notes offering to strengthen its balance sheet after Panama closed the company’s flagship copper mine. The Vancouver-based metals producer has been under growing pressure to provide answers on how it will continue to meet obligations, with billions of dollars maturing in the coming years while its biggest profit driver remained indefinitely closed. In an announcement on Wednesday, First Quantum said it also agreed with… Read More Here

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