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Category: Copper

CMOC Group Eyes Copper and Cobalt Market Expansion in DRC and Beyond 1 Mining in DRC Cobalt Copper 

CMOC Group Eyes Copper and Cobalt Market Expansion in DRC and Beyond

Constance
Chinese mining firm CMOC Group is considering acquiring additional assets in the Democratic Republic of Congo (DRC) and sees growth opportunities in South America and Indonesia, according to Julie Liang, CMOC’s vice president for ESG. Speaking at the Africa Mining Indaba, Liang emphasized the company’s interest in expanding its presence in the DRC, particularly in copper and cobalt-rich regions, to capitalize on the growing demand for these metals driven by green technologies such as electric vehicles. CMOC has become the world’s leading cobalt mining company, with last year’s production reaching… Read More Here
Vedanta weighs sale of minority stake in Zambian copper assets 2 Mining in Zambia Copper 

Vedanta weighs sale of minority stake in Zambian copper assets

Constance
Vedanta Base Metals CEO Chris Griffith said last week that the company is talking to a range of financing partners to raise money for a restart of its Konkola Copper Mines unit in Zambia, including the sale of a minority stake in KCM. Vedanta will remain the majority shareholder in the unit if a minority stake is sold, Griffith said in an interview on the sidelines of an African mining conference in Cape Town. “We are in the fundraising process at the moment to raise $1.3 billion,” he said. That… Read More Here
Zambia's Direct Copper Trading Strategy to Reshape Economy 3 Mining in Zambia Copper Economy 

Zambia’s Direct Copper Trading Strategy to Reshape Economy

Constance
In a strategic move set to transform Zambia’s copper industry, the nation plans to directly purchase and sell a portion of its copper production, challenging industry giants like Mercuria Energy and Glencore. Jito Kayumba, senior economic adviser to President Hakainde Hichilema, emphasized the aim of ensuring fairness and commercial viability for mining companies in this new approach. Zambia aligns itself with neighboring countries such as Botswana and the Democratic Republic of Congo, seeking to maximize economic benefits from mineral resources by gaining direct access to commodities for sale. Despite holding… Read More Here
Ivanhoe Mines' Kamoa-Kakula to Export Copper via Lobito Railway 4 Copper Mining in DRC Press Release Transport and Logistics 

Ivanhoe Mines’ Kamoa-Kakula to Export Copper via Lobito Railway

Constance
Term sheet allocates Kamoa-Kakula up to 240,000 tonnes of annual capacity for export of copper products along the Lobito Corridor from 2025 ■ Lobito Corridor passes through Ivanhoe’s Western Foreland licences and within five kilometres ofKamoa-Kakula ■ Lobito Corridor will transform economic and social development of the DRC, as well as its neighbouring countries, accelerating regional economic development ■ Lobito Corridor is supported by the United States and G7 nations through the Partnership for Global Infrastructure and Investment  Ivanhoe Mines’ (TSX: IVN) (OTCQX: IVPAF) Executive Co-Chair Robert Friedland and President Marna… Read More Here
FQM BACKS ZAMBIA’S MINING GROWTH STRATEGY  5 Mining in Zambia Copper 

FQM BACKS ZAMBIA’S MINING GROWTH STRATEGY 

Constance
First Quantum Minerals (FQM) pledged its support for President Hakainde Hichilema’s vision for the future of mining in Zambia, in which he outlined plans to expand copper production and position the country as a major player in the global mining industry. Speaking at the Investing in African Mining Indaba 2024, where the President gave a keynote address last week, FQM Lead of Infrastructure Development, Jed Goldstein, restated the company’s dedication to fostering sustainable development in Zambia through continued investment in infrastructure, technology, and people, aimed at enhancing operational efficiency and… Read More Here
ZCCM-IH and Kobold Mingomba JV Unveils Zambia's Biggest Copper Find in a Century 6 Mining in Zambia Battery Metals Cobalt Copper Lithium New Mining Projects Nickel 

ZCCM-IH and Kobold Mingomba JV Unveils Zambia’s Biggest Copper Find in a Century

Constance
Yesterday, Joint venture partners ZCCM-IH and KoBold Metals, a Silicon Valley company using artificial intelligence to discover critical minerals for the electric vehicle and renewable energy revolutions, discussed the details of their recent copper discovery at the Mingomba deposit.“ZCCM-IH’s goal is to ensure that Zambia’s finite mineral resources are optimized and benefit the people of Zambia,” said ZCCM-IH Board Chair Mr. Kakenenwa Muyangwa. “ZCCM-IH is proud to be an active investor partnering with Kobold Metals in the Mingomba Deposit, which is well-positioned to help create new jobs, bring significant new… Read More Here
President Hakainde Hichilema Delivers Keynote speech at the Mining Indaba 2024 7 Mining in Zambia Battery Metals Copper Events & Expos 

President Hakainde Hichilema Delivers Keynote speech at the Mining Indaba 2024

Constance
In his address at the 2024 African Mining Indaba in Cape Town, Zambia’s President Hakainde Hichilema highlighted the significant strides made in the country’s mining sector and called for continued investment to power Africa’s future. President Hichilema began by expressing condolences on the passing of Namibian President Hage G. Geingob and extended sympathies to his family and the people of Namibia. He then expressed gratitude to His Excellency President Cyril Ramaphosa and other dignitaries present. Reflecting on the progress since his last address in 2022, President Hichilema highlighted key investments… Read More Here
Zambia Aims for Glencore Debt Restructuring with New Mopani Investor 8 Mining in Zambia Copper 

Zambia Aims for Glencore Debt Restructuring with New Mopani Investor

Constance
Zambia is in the process of restructuring a $1.5 billion debt owed by Mopani Copper Mines to Glencore, originating from Glencore’s acquisition of Mopani in 2021, ZCCM-Investment Holdings (ZCCM-IH) announced on Friday. A Glencore spokesperson confirmed ongoing discussions on the debt restructuring but emphasized that no final agreement had been reached. In 2022, Glencore had written down the Mopani debt to $596 million as the copper miner struggled to meet production targets due to insufficient funding. In November, Zambia selected the United Arab Emirates’ International Resources Holdings (IRH) as the… Read More Here
𝗕𝗢𝗧𝗦𝗪𝗔𝗡𝗔 𝗖𝗢𝗠𝗣𝗘𝗧𝗜𝗧𝗜𝗢𝗡 𝗔𝗨𝗧𝗛𝗢𝗥𝗜𝗧𝗬 𝗔𝗣𝗣𝗥𝗢𝗩𝗘𝗦 𝗞𝗛𝗢𝗘𝗠𝗔𝗖𝗔𝗨 𝗧𝗔𝗞𝗘 𝗢𝗩𝗘𝗥 𝗕𝗬 𝗠𝗠𝗚 𝗚𝗥𝗢𝗨𝗣 9 International Copper 

𝗕𝗢𝗧𝗦𝗪𝗔𝗡𝗔 𝗖𝗢𝗠𝗣𝗘𝗧𝗜𝗧𝗜𝗢𝗡 𝗔𝗨𝗧𝗛𝗢𝗥𝗜𝗧𝗬 𝗔𝗣𝗣𝗥𝗢𝗩𝗘𝗦 𝗞𝗛𝗢𝗘𝗠𝗔𝗖𝗔𝗨 𝗧𝗔𝗞𝗘 𝗢𝗩𝗘𝗥 𝗕𝗬 𝗠𝗠𝗚 𝗚𝗥𝗢𝗨𝗣

Constance
Botswana Competition & Consumer Authority (CCA) has given green light to the take over of Khoemacau Copper Mining by Chinese global miner MMG Limited. In a merger notice to the market this week the authority said after all the necessary assessments it is all systems go from their end. The Competition Authority screens a proposed transaction and looks into the acquiring enterprise and the target company aswell as the relevant markets, competitive analysis and public interest. The Acquiring Enterprise, AcquireCo, is a company incorporated in accordance with the Laws of… Read More Here
FQM to sell 120,000 tons of copper in Panama mine 10 Copper International 

FQM to sell 120,000 tons of copper in Panama mine

Constance
Canadian miner First Quantum Minerals said on Monday it intends to sell the 120,000 tons of copper concentrate stored near the Punta Rincon port. First Quantum’s Panama unit said in a statement that due to the lack of options available to finance the essential activities of preservation and safe operations, selling the copper concentrate is the best alternative to generate resources to cover the costs. In December, the Panama government ordered the shutdown of First Quantum’s Cobre Panama mine after protests erupted across the country against the mine. Since then,… Read More Here

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