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Category: Copper

FQM Implements Leadership Changes to Address Challenges in Zambian's Operations 1 Mining in Zambia Copper Mining Personality 

FQM Implements Leadership Changes to Address Challenges in Zambian’s Operations

Constance
First Quantum Minerals Ltd (FQM) is undergoing a significant restructuring of its top-tier personnel at its Zambian operations to address production and safety issues, according to an internal memo obtained by Reuters. The company’s decision comes amid ongoing challenges, including the recent closure order of its flagship Panama mine, which has led to a significant decline in market value since public protests against the Cobre Panama project began in October. In an email sent by chief operating officer Rudi Badenhorst to Kansanshi mine employees, it was acknowledged that the Zambian… Read More Here
FQM inks $500 million copper deal with Jiangxi amid Panama mine struggles 2 Mining in Zambia Copper 

FQM inks $500 million copper deal with Jiangxi amid Panama mine struggles

Constance
First Quantum Minerals (TSX: FM) said on Wednesday it would get a $500-million shot in the arm from Jiangxi Copper, the Canadian miner’s largest shareholder, that will help it to shore up finances. The three-year, prepay arrangement with Jiangxi will see First Quantum deliver 50,000 tonnes of copper anode per year to the Chinese miner. The material will be extracted at the Kansanshi mine in Zambia and is payable at market prices, the company said. “This arrangement is a reminder of the strategic nature of copper as supply challenges abound… Read More Here
Solwezi MP Stafford Mulusa Leads Delegation to Review Kansanshi Mine's Expansion 3 Mining in Zambia Copper 

Solwezi MP Stafford Mulusa Leads Delegation to Review Kansanshi Mine’s Expansion

Constance
In a demonstration of commitment to progress and community engagement, Kansanshi Mine in Solwezi welcomed Solwezi Central Member of Parliament, Stafford Mulusa, along with a delegation of civic leaders, including Solwezi Mayor Remmy Kalepa and Town Clerk Stanley Mbewe, as well as all twelve district councillors. The visit aimed to provide insights into the ongoing expansion projects at Kansanshi Mine and their impact on the local community. Kyansenga Chitoshi, Corporate Affairs Manager at Kansanshi Mining, warmly greeted the delegation upon their arrival at the mine site. They were then led… Read More Here
Gecamines Spearheads Efforts for Equity and Growth in the DRC's Mining Sector 4 Mining in DRC Battery Metals Cobalt Copper 

Gecamines Spearheads Efforts for Equity and Growth in the DRC’s Mining Sector

Constance
he Democratic Republic of Congo’s (DRC’s) state miner, Gecamines, is embarking on a comprehensive strategy to maximize returns from its copper and cobalt joint ventures. With a focus on renegotiating higher stakes and asserting greater influence in management, Gecamines aims to capitalize on the global demand for minerals crucial to the green energy transition. Gecamines, under the leadership of chairperson Guy Robert Lukama, is advocating for increased representation of local executives on joint venture boards to ensure more effective asset management and decision-making. Lukama emphasizes the need to rectify past… Read More Here
Barrick Gold CEO Bristow Dismisses Interest in Piecemeal Bids for FQM's Assets 5 International Copper Gold 

Barrick Gold CEO Bristow Dismisses Interest in Piecemeal Bids for FQM’s Assets

Constance
Barrick Gold Corp’s CEO Mark Bristow stated on Wednesday that the company is not interested in fragmented discussions when questioned about bidding for any of First Quantum Minerals Ltd’s assets. Bristow clarified that Barrick Gold did not engage with First Quantum shareholders during any roadshow to assess their support for a potential takeover, refuting a media report from the previous month. “I’m not interested in working on any sort of piecemeal discussion,” Bristow told Reuters in an interview following the company’s quarterly earnings report. First Quantum, facing challenges after an… Read More Here
First Quantum CEO: Panama’s next government cannot ignore mining sector 6 Copper International 

First Quantum CEO: Panama’s next government cannot ignore mining sector

Constance
Two months after protests led the Panamanian government to order the shutdown of First Quantum’s Cobre Panama mine, chief executive Tristan Pascall, sees an opportunity for discussing mining’s contribution to Panama’s economy as the country approaches an election in May. “We see that some of the emotion (from the protests) has really dialled back,” Pascall told the Financial Post. “There’s significant economic challenges emerging in the country and we believe it’s impossible for the next government to ignore the contribution that a responsible mining sector can make.” The mine accounts… Read More Here
Gecamines Proposes Acquisition of ERG's DRC Assets 7 Mining in DRC Cobalt Copper 

Gecamines Proposes Acquisition of ERG’s DRC Assets

Constance
Gecamines, the state miner of Congo, has made a concrete offer to acquire select copper and cobalt assets from Eurasian Resources Group (ERG) in the country. This move aims to regain control over projects previously owned by partners and bolster reserves in metals crucial for the green transition. According to Robert Lukama, Chairman of Gecamines, the mining unit is targeting three of ERG’s assets in Congo and has the necessary funding to support the purchase. While the specific projects or mines were not disclosed, ERG’s assets in the region include… Read More Here
Vedanta Resources Initiates Funding and Transition Plans for Konkola Copper Mines in Zambia 8 Mining in Zambia Copper 

Vedanta Resources Initiates Funding and Transition Plans for Konkola Copper Mines in Zambia

Constance
Vedanta Resources, a global natural resources company, has commenced financial support for Konkola Copper Mines (KCM) in Zambia, with an initial disbursement of $25 million allocated for employee salaries, contract labor, and critical services to uphold the asset’s integrity. The company has deployed a technical team to collaborate with KCM’s current management to assess the condition of the operation, ensuring readiness for operations under Vedanta’s control pending the conclusion of the ongoing scheme of arrangement before the court. Upon agreement with creditors and the withdrawal of court cases, the provisional… Read More Here
Haul road FQM Mining in Zambia Copper 

FQM Expands Central Africa Copperbelt Licences

Constance
Canada-based First Quantum Minerals (FQM) has exercised its option to acquire the remaining two licences in the Central Africa Copperbelt from an agreement with London-listed African Pioneer’s 80%-owned subsidiary, African Pioneer Zambia. The option agreement, initially announced on January 22, saw FQM sign an addendum on February 15 confirming its decision to exercise the option over the two licences, which had not been previously exercised. These licences are identified as exploration licences 27770-HQ-LEL and 27768-HQ-LEL. In addition, FQM had already exercised its option over licences 27767-HQ-LEL and 27771-HQ-LEL, as announced… Read More Here
FQM AND ZESCO IN TALKS TO IMPROVE NATIONAL GRID EFFICIENCY 9 Mining in Zambia Copper Electricity 

FQM AND ZESCO IN TALKS TO IMPROVE NATIONAL GRID EFFICIENCY

Constance
Stabilisation of the national power grid is a prerequisite to increasing Zambia’s copper production to 3 million tonnes a year, says First Quantum Minerals (FQM). The need to ensure that power is available ahead of new mine production, and that this power is efficiently transmitted through the national grid cannot be over emphasised, said the company. The message came as the country’s largest power user hosted engineers from ZESCO this week at its Trident mine in Kalumbila as part of on-going discussions to improve the efficiency of the nation’s power… Read More Here

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