Corporate News - Copperbelt Katanga Mining

Barrick Gold’s Twiga JV Drives Significant Economic Impact in Tanzania 1

Barrick Gold has contributed over $4.24 billion to the Tanzanian economy since the inception of its Twiga joint venture (JV) with the government in 2019. In 2024 alone, its investment amounted to $888 million. Twiga encompasses the North Mara and Bulyanhulu gold mines. Barrick President and CEO Mark Bristow highlighted the ongoing success of the Twiga partnership, emphasizing its leadership in Tanzania’s extractive sector. The JV has created thousands of jobs, supported local businesses, and funded essential community projects. In 2023, Barrick spent $573 million on national suppliers and service… Read More Here

Gold Corporate News International

B2Gold to Invest $10 Million in Fekola Exploration After Mali Settlement

January 26, 2025January 26, 2025 Constance0 comment

Canadian miner B2Gold is moving forward with plans to invest $10 million in exploration at its Fekola gold complex in Mali in 2025, following a settlement with the Malian government that has reduced the risk of disruption. In August 2023, Mali introduced a new mining code that increases the state’s share of mining revenues and removes tax exemptions for mining companies. B2Gold was one of the first companies to reach a settlement with the government, resolving an income tax dispute in September 2024 and agreeing to adapt one part of… Read More Here

Cobalt Corporate News

CMOC Targets Sustained Cobalt Output in 2025 Amid Market Pressure

January 25, 2025January 25, 2025 Constance0 comment

The world’s largest cobalt producer, China’s CMOC Group, is aiming to maintain record-high cobalt production levels in 2025 following a rapid ramp-up at its African mining operations. The company has set a production target of 100,000 to 120,000 tons of cobalt for 2025, after achieving an impressive 114,165 tons in 2024, according to a statement on its WeChat account. Elevated production levels could add further pressure to cobalt prices, which are already at their lowest since 2016. CMOC exceeded its full-year 2024 production guidance within the first nine months, causing… Read More Here

Mining in Zambia Corporate News Electricity

Jubilee Metals Secures New Power Supply Agreement in Zambia for Stable Operations

January 23, 2025January 23, 2025 Constance0 comment

London- and Johannesburg-listed Jubilee Metals has successfully secured regulatory approval for a new power supply agreement in Zambia, with power delivery commencing on January 20. This agreement enables the company to restart its Roan concentrator, ensuring a stable power supply moving forward. The new power supply agreement, executed with a broad-based power provider, grants Jubilee access to a distributed power base from multiple generation sources. This reduces reliance on a single supply source and mitigates risks associated with localized power distribution limitations. Jubilee highlights that the additional power supply is… Read More Here

International Corporate News New Mining Projects

Barrick Gold Seeks to Sell Stake in Zaldivar Copper Mine as Focus Shifts to Larger Projects

January 22, 2025January 22, 2025 Constance0 comment

Barrick Gold is looking to divest its 50% stake in the Zaldivar copper mine in Chile, as the company shifts its focus to larger and more profitable operations, according to sources familiar with the matter. The company has enlisted advisors and approached potential buyers for its share in the mine, which is jointly owned with Antofagasta. The process is still in its early stages, and no deal is guaranteed, the sources said, speaking on the condition of anonymity. Although Barrick is keen to expand its copper portfolio in response to… Read More Here

International Corporate News Gold New Mining Projects

Barrick Gold Supports Pakistan-Saudi Deal for Stake in Reko Diq Mining Project

January 22, 2025January 22, 2025 Constance0 comment

Pakistan is still in negotiations with Saudi Arabia over the sale of a minority stake in the Reko Diq copper and gold mining project, controlled by Barrick Gold. Key details, including where the minerals will be processed, remain under discussion. The Pakistani government hopes the agreement will extend beyond exploration to involve some downstream activities within the country, according to Musadik Malik, Pakistan’s petroleum minister. Earlier, the Saudi government announced plans to acquire Pakistan’s minority stake in the Reko Diq project through Manara Minerals Investment Co., a Saudi firm backed… Read More Here

International Corporate News Mergers & Acquisitions

Glencore Explores Strategic M&A Opportunities Amid Industry Challenges

January 22, 2025January 22, 2025 Constance0 comment

LONDON – Mining and commodity trading giant Glencore has reaffirmed its openness to mergers and acquisitions (M&A) that enhance shareholder value, leveraging its position as one of the world’s top three copper producers. “As we have always said, M&A is something we are good at, and we are always open to transactions that are value-accretive for the company,” a Glencore spokesperson stated. In 2024, potential M&A activity dominated investor discussions within the mining sector. However, the challenges of integrating diversified producers were highlighted when BHP’s $49-billion bid for Anglo American… Read More Here

Mining in Zambia Copper Corporate News Gold Nickel

FQM ANNOUNCES STRONG 2024 ZAMBIAN PRODUCTION RESULTS AND FOCUS ON SUSTAINABLE GROWTH

January 19, 2025January 19, 2025 Constance0 comment

First Quantum Minerals (FQM) has announced a strong performance from its Zambian operations in 2024, with strong copper, gold, and nickel production. The company also reaffirmed its focus on sustainability and operational resilience, with the S3 Expansion project on track for completion in mid-2025. The mining firm achieved annual copper production of 431 thousand tonnes (“kt”) in 2024, exceeding the guidance range of 400 to 420kt. Kansanshi achieved its highest copper and gold production since 2021 and 2022, respectively, predominately driven by higher grades. Sentinel’s increased copper production reflected higher… Read More Here

Corporate News Sponsored Content

DGC Workforce Solutions: Empowering Africa’s Industrial Future

January 17, 2025January 21, 2025 Constance0 comment

In the dynamic landscape of African industry, DGC Workforce Solutions stands as a testament to over 115 years of excellence and innovation. As a distinguished division of the Dickinson Group of Companies, established in 1910, DGC Workforce Solutions has evolved from its industrial services foundations to become a premier provider of integrated workforce solutions across the continent. Legacy of Excellence & Leadership Dickinson Group of Company’s journey spans more than a century of industrial expertise, during which DGC Workforce Solutions has consistently adapted to meet Africa’s evolving industrial challenges. Our… Read More Here

Corporate News International

Mali’s Gold Seizure Forces Barrick Gold to Suspend Operations at Loulo-Gounkoto

January 17, 2025January 17, 2025 Constance0 comment

Barrick Gold has announced the temporary suspension of operations at its Loulo-Gounkoto mining complex in Mali after the Malian government seized three metric tons of gold, valued at approximately $245 million, over the weekend. The gold, confiscated on Saturday and transported by Air Force helicopters, is being sent to the state-owned Banque Malienne de Solidarité (BMS) in Bamako, according to sources. This action follows a court-ordered seizure issued by Judge Boubacar Moussa Diarra, based on claims by Mali’s economy ministry that Barrick owes $5.5 billion in taxes—a figure drastically higher… Read More Here