Corporate News - Copperbelt Katanga Mining

FQM Suspends Public Tours of Panama Copper Mine Amid Govt Pressure

March 27, 2025March 27, 2025 Constance0 comment

First Quantum Minerals announced on Thursday that it will halt public tours of its shuttered copper mine in Panama following concerns raised by President José Raúl Mulino that the company should not create the impression that the site remains operational. Speaking at a press conference earlier that day, Mulino clarified that no discussions had taken place with First Quantum regarding the mine’s future. The Panamanian government ordered its closure in late 2023 after widespread public protests over environmental concerns. “I don’t want them to give the impression that the mine… Read More Here

International Corporate News Gold

Mali Expects Gold Output Recovery in 2025 Amid Barrick Gold Standoff

March 27, 2025March 27, 2025 Constance0 comment

Mali anticipates a slight rebound in industrial gold production in 2025, assuming Barrick Gold resumes operations following a prolonged dispute with the government, according to a document from the country’s mines ministry seen by Reuters on Wednesday. Gold production is projected to reach 54.7 metric tons in 2025, up from 51.7 tons in 2024, which marked a 23% decline from previous years. As one of Africa’s leading gold producers, Mali hosts around 15 operational gold mines, primarily owned by Barrick Gold, B2Gold, Resolute Mining, Endeavour Mining, and Hummingbird Resources. Barrick… Read More Here

International Copper Corporate News Gold

Zijin Mining Sees 52% Profit Growth Amid Rising Copper and Gold Prices

March 26, 2025March 26, 2025 Constance0 comment

Zijin Mining Group, China’s largest metals producer, reported a 52% surge in profit for the past year, driven by higher copper and gold prices, as well as increased production. Net income rose to 32.1 billion yuan ($4.4 billion), while sales climbed 3.5% to 303.6 billion yuan, according to an exchange filing. The company had initially expected earnings to increase by 53%, reaching 32 billion yuan. Over the past decade, Zijin has expanded aggressively, becoming a significant global copper supplier through major new projects in the Democratic Republic of Congo and… Read More Here

International Corporate News

Glencore Halts Copper Shipments from Chile’s Altonorte Smelter Amid Furnace Issues

March 26, 2025March 26, 2025 Constance0 comment

Glencore Plc has suspended shipments from its Altonorte copper smelter in Chile due to a furnace malfunction, disrupting operations as traders and producers rush to supply more metal to the U.S. ahead of potential tariffs. The company has temporarily halted production and invoked force majeure clauses in its commercial contracts, sources familiar with the matter revealed. Force majeure provisions allow suppliers to suspend deliveries due to unforeseen circumstances beyond their control. This setback adds to a series of recent disruptions at smelters and refineries in Asia, further tightening global copper… Read More Here

International Copper Corporate News

First Quantum Opens Cobre Panama to Public in Bid for Restart Support

March 26, 2025March 26, 2025 Constance0 comment

First Quantum Minerals (TSX: FM) officially opened Cobre Panama to visitors on Monday as part of its efforts to regain public support for restarting the $10 billion copper mine, which has remained shut for over a year. In a press release, Cobre Panama announced the launch of its Mine Visit program, granting the public access to one of Latin America’s most advanced copper mining operations. Guided by Panamanian engineers and miners, visitors can tour key facilities, including the Botija pit, the 300 MW power plant, the international port, and the… Read More Here

New Mining Projects Corporate News International

Saudi Arabia Grants Mining Exploration Leases to Vedanta, Zijin, and Hancock

March 22, 2025March 22, 2025 Constance0 comment

Saudi Arabia has awarded mining exploration leases to major global companies, including India’s Vedanta, China’s Zijin Mining Group, and a subsidiary of Australia’s Hancock Prospecting, as part of its strategy to expand and diversify its mining sector. The Ministry of Industry and Mineral Resources announced via X that the leases cover a total area of 4,788 km², including the Jabal Sayid region. This initiative aligns with Saudi Arabia’s Vision 2030, which aims to reduce oil dependency, develop a competitive domestic mining industry, and attract foreign investment. Zijin Mining, in partnership… Read More Here

International Copper Corporate News

Panama Awaits Formal Notice on First Quantum’s Arbitration Suspension

March 22, 2025March 22, 2025 Constance0 comment

PANAMA CITY – Panamanian President Jose Raul Mulino stated on Thursday that his government has yet to receive official notification from Canada’s First Quantum Minerals regarding the suspension of arbitration over its Cobre Panama copper mine. An internal memo from Cobre Panama, the company’s local unit, revealed last Friday that First Quantum had instructed its lawyers to begin suspending arbitration proceedings. The cases were originally filed after the Panamanian government shut down the mine in 2023 following widespread protests over environmental concerns. Mulino clarified that his administration cannot engage in… Read More Here

Diamond Corporate News International

TAGS & Sodiam Sell $15.4M in Rough Diamonds at 2025 Luanda Tender

March 18, 2025March 18, 2025 Constance0 comment

Trans Atlantic Gem Sales (TAGS) and Angola’s state-owned diamond trader, Sodiam, successfully sold more than $15.4 million worth of large rough diamonds at their first tender of the year. The sale, held from March 5 to 13 in Luanda, featured 36 diamonds over 10 carats, including seven stones exceeding 60 carats. Approximately 95% of the goods found buyers. TAGS, which markets production from seven Angolan mines—Lulo, Tchegi, Somiluana, Kaixepa, Chitotolo, Catoca, and Luele—saw contributions from all of them in this auction. Among the highlights were two high-value diamonds from Lucapa… Read More Here

International Corporate News

Glencore to Take 10% Stake in Cobalt Investment Firm Amid Market Slump

March 16, 2025March 16, 2025 Constance0 comment

Glencore is set to acquire a 10% stake in Cobalt Holdings, a new investment company planning to list on the London Stock Exchange in May, the Financial Times reported. Cobalt Holdings will operate similarly to commodity investment firms like Yellow Cake, which deals in uranium, by purchasing and holding physical supplies of cobalt. As part of a long-term agreement, Glencore will sell $200 million worth of cobalt—produced as a by-product of its copper mining operations in the Democratic Republic of Congo (DRC)—to Cobalt Holdings. This move is expected to reduce… Read More Here

International Copper Corporate News

Panama Demands First Quantum Drop Legal Action for Mine Talks

March 16, 2025March 16, 2025 Constance0 comment

Panama is urging First Quantum Minerals (TSX: FM) to immediately withdraw its legal proceedings against the government if the company is serious about negotiating a restart of its shuttered Cobre Panama mine. President Jose Raul Mulino announced that he has authorized the export of stockpiled copper concentrate from the open-pit mine, adding that First Quantum must compensate Panama since the material will be processed abroad. “The concentrate is being wasted, and Panama has invested heavily in it,” Mulino stated during a press conference in Panama City. “The mine’s future will… Read More Here