Corporate News - Copperbelt Katanga Mining

Mali’s Gold Seizure Forces Barrick Gold to Suspend Operations at Loulo-Gounkoto 1

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

International Contracts & tenders Corporate News

Barrick Gold Warns Shareholders Against Below-Market Mini-Tender Offer

January 13, 2025January 13, 2025 Constance0 comment

Canadian mining giant Barrick Gold has issued a caution to its shareholders regarding an unsolicited mini-tender offer from TRC Capital Investment. The offer seeks to acquire up to five million of Barrick’s common shares, representing approximately 0.29% of its outstanding shares, at a below-market price of C$21.35 per share. Barrick highlighted in a statement on Monday that the offer price reflects a discount of 4.52% on the Toronto Stock Exchange (TSX) and 4.38% on the New York Stock Exchange (NYSE) closing prices as of January 7. The company clarified that… Read More Here

International Corporate News

Mali Seizes Gold Stock at Barrick’s Loulo-Gounkoto Amid Contract Dispute

January 13, 2025January 13, 2025 Constance0 comment

Mali’s government has initiated the enforcement of a provisional order to seize gold stock at Barrick Gold’s Loulo-Gounkoto mining complex, according to a company memo to Malian staff. Barrick warned that this escalating dispute over mining rules could lead to a temporary suspension of operations at the site. The move highlights Mali’s military-led government’s push for greater control and revenue share from foreign mining companies. The conflict stems from new mining regulations introduced as part of broader efforts to renegotiate agreements with Western miners. “A provisional order to seize our… Read More Here

Mining in Zambia Copper Corporate News Electricity

Jubilee Metals Faces Copper Production Setback in Zambia Due to Power Constraints

January 13, 2025January 13, 2025 Constance0 comment

Jubilee Metals Group, a diversified metals producer listed on Aim and AltX, reported a shortfall in copper production at its Roan operation in Zambia due to power constraints. In its operational update for the six months ending December 31, which marks the first half of its 2025 financial year, the company revealed that copper production in Zambia totaled 1,454 tonnes, down from 1,683 tonnes during the same period in the 2024 financial year. The figure also fell short of the revised target of 1,800 tonnes. Despite this, Jubilee reported a… Read More Here

International Corporate News

Vedanta Secures $300 Million in Loans to Strengthen Financial Position

January 12, 2025January 12, 2025 Constance0 comment

Vedanta Resources’ parent company announced on Friday that it has secured commitments from Barclays, First Abu Dhabi Bank, and Mashreq for a $300 million loan, with a tenor of three years and three months. The funds will be used to refinance outstanding 2024 and 2026 bonds and cover other debt servicing obligations, according to Vedanta’s filing with the stock exchange. The company is seeking to expand the deal and is in advanced talks with other banks to secure an additional $200 million in loans. Last year, rating agencies S&P Global… Read More Here

Mining in DRC Copper Corporate News Press Release

Ivanhoe Mines provides update to 2025 capital expenditure guidance

January 12, 2025January 12, 2025 Constance0 comment

Ivanhoe Mines’ (TSX: IVN) (OTCQX: IVPAF) Executive Co-Chair Robert Friedland and President Marna Cloete announced the company’s fourth quarter and full-year production results for the Kamoa-Kakula Copper Complex in the Democratic Republic of the Congo (DRC) and the ultra-high-grade Kipushi zinc mine, also in the DRC. In addition, the company has announced its 2025 production guidance for Kamoa-Kakula and Kipushi, as well as updated 2025 group capital expenditure guidance. Kamoa-Kakula delivered record production in 2024 of 437,061 tonnes of copper in concentrate, a 12% year-on-year increase, following the ramp up… Read More Here

Mining in DRC Corporate News News in Brief Press Release

Ivanhoe Mines Launches an Offering of US$600,000,000 Senior Notes Due 2030

January 12, 2025January 12, 2025 Constance0 comment

Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) announces that it has commenced an offering (the “Offering”) of an aggregate principal amount of US$600,000,000 senior notes due 2030 (the “Notes”). The Notes will be senior unsecured obligations of the company and will be guaranteed on a senior basis by certain of the company’s subsidiaries (the “Guarantors”). In connection with the Offering, the company entered into a US$120.0 million revolving credit facility agreement dated December 22, 2024, with, amongst others, the Guarantors and the lenders named therein. The gross proceeds from the Offering… Read More Here

International Corporate News

Panama opens public consultation on First Quantum mine

January 10, 2025January 10, 2025 Constance0 comment

Panama’s government has kicked off a public consultation on an environmental audit of First Quantum Minerals’s (TSX: FM) Cobre Panama copper mine, which was announced in mid-2024 by then president-elect José Raúl Mulino. The Ministry of Environment (MiAmbiente) invited this week environmental organizations, local communities, academia, the private sector, and the general public to participate in the process, which will remain open until February 7. Mulino announced in July last year he would order a “strict audit” of the $10 billion mine, which was shuttered in 2023 after Panama’s Supreme… Read More Here

Mining in DRC Battery Metals Cobalt Corporate News

CMOC Group Achieves Record Cobalt Production with African Expansion

January 8, 2025January 8, 2025 Constance0 comment

China’s CMOC Group set a new benchmark in global cobalt production in 2024, thanks to a rapid increase in output from its African mining operations. The company announced it produced 114,165 tonnes of cobalt last year, nearly doubling the 55,526 tonnes achieved in 2023. This output far exceeded its 2024 guidance of 70,000 tonnes, solidifying CMOC’s status as the world’s leading cobalt supplier. In 2023, CMOC overtook Glencore as the largest global cobalt producer, driven by significant production gains from its Kisanfu mine in the Democratic Republic of Congo (DRC),… Read More Here

Exploration Copper Corporate News New Mining Projects

KoBold Metals Raises $537 Million to Accelerate AI-Driven Mineral Exploration

January 3, 2025January 3, 2025 Constance0 comment

KoBold Metals, a Berkeley-based mining and artificial intelligence (AI) start-up backed by Bill Gates and Jeff Bezos, has raised $537 million in its latest funding round. This Series C round values the company at $2.96 billion and was co-led by existing investor T. Rowe Price and Durable Capital Partners. Other participants included Gates’ Breakthrough Energy Ventures, Andreessen Horowitz, and new backers like StepStone. With total funding of $1 billion to date, KoBold is positioning itself as a leading competitor in the critical minerals sector, challenging China’s dominance. The company specializes… Read More Here