Corporate News - Copperbelt Katanga Mining

Eurasian Resources Group refutes negotiations to sell the Company

April 23, 2025April 23, 2025 Constance

Shukhrat Ibragimov, ERG’s CEO and Chairman of the Board of Directors: “ERG is definitely not for sale” In response to a number of media speculations in the course of the last few weeks, including publications about a Mr James Cameron’s proposal to buy Eurasian Resources Group (ERG), Mr Shukhrat Ibragimov, Chairman of the ERG Board of Directors and its Chief Executive Officer, stated there are no negotiations on the sale of ERG. He said the company’s management is fully committed to further consistent, sustainable development of the Group. There are… Read More Here

Corporate News

U.S. Investor Offers $5 Billion for Eurasian Resources Group Amid Kazakhstan’s Rare Earth Push

April 21, 2025April 22, 2025 Constance

American businessman James Cameron has made a $5 billion offer to acquire Eurasian Resources Group (ERG), according to a letter sent to the company’s board. The bid comes as ERG prepares to play a central role in Kazakhstan’s ambitious expansion of its rare earth metals sector. ERG, a Luxembourg-based mining conglomerate, produces copper, cobalt, aluminum, and iron ore, and is 40% owned by the Kazakh government. In 2023, the company announced the formation of a task force to evaluate rare earth and rare metal deposits in Kazakhstan. Interest in these… Read More Here

Corporate News Diamond Mining in DRC

MIBA’s Diamond Ambitions Stall Amid Delays and Unreleased Funds

April 19, 2025April 19, 2025 Constance

As of April 16, 2025, Société Minière de Bakwanga (MIBA), the DRC’s state-owned diamond company, has yet to resume operations. The company has not appeared in production reports since mid-2024, casting doubt on the ambitious targets set by Chairman Jean-Charles Okoto. In November 2024, Okoto declared plans to reach one million carats per month in 2025, aiming for an annual output of 12 million carats. This would mark a dramatic leap, given that the DRC produced 8.34 million carats in 2023—already a decline from 10.78 million in 2022. Appointed in… Read More Here

Mining in DRC Corporate News Oil & Gas

DRC Grants Oil Rights to Sonahydroc in Shift Toward State-Led Energy Strategy

April 19, 2025April 19, 2025 Constance

At its April 11 Council of Ministers meeting, the Democratic Republic of Congo (DRC) approved a draft decree granting petroleum rights directly to the state-owned Société Nationale des Hydrocarbures du Congo (Sonahydroc). This decree establishes the legal and fiscal framework for the transfer, aligning with the country’s oil and gas law enacted on August 1, 2015. The move signals a renewed push by the DRC to revitalize oil exploration and increase domestic production, aiming to better capitalize on its untapped hydrocarbon potential. The plan includes the immediate allocation of blocks… Read More Here

Mining in DRC Corporate News

Metalkol SA, a Eurasian Resources Group company, strengthens commitment to local communities

April 19, 2025April 19, 2025 Constance

As part of its social obligations and in line with the revised Mining Code of the Democratic Republic of Congo (DRC), La Compagnie de Traitement des Rejets de Kingamyambo S.A (Metalkol SA), a Eurasian Resources Group (ERG) company, has signed its second Cahier des Charges to support the sustainable development of local communities in Lualaba Province, DRC. This renewed commitment reinforces Metalkol SA’s ongoing efforts to foster local development and will benefit nine communities across the villages of Samukonga, Kamimbi, Kipepa, Kashala, Samukinda, and UCK. The signing ceremony took place… Read More Here

Copper Corporate News Mining in Zambia News in Brief

Sinomine Targets 2026 Copper Production at Zambia’s Kitumba Mine

April 17, 2025April 17, 2025 Constance

Sinomine Resource Group has announced plans to begin copper production at its Kitumba Copper Mine in Zambia’s Central Province by September 2026. The update was shared in a company WeChat post on Thursday. Located in the Mumbwa district, the project is expected to receive an investment of $560 million. On Monday, Sinomine commenced stripping operations, which involve the removal of surface soil and rock to access the ore body. This marks a key milestone in the development of the project, which is set to contribute significantly to Zambia’s copper output… Read More Here

International Corporate News Gold

Barrick Gold Warns of Looming Crisis as Tensions with Mali Escalate

April 17, 2025April 17, 2025 Constance

Canada-headquartered Barrick Gold has issued a stern warning to the government of Mali, stating that the future of its flagship Loulo-Gounkoto gold mine is in jeopardy due to a worsening standoff over taxes and regulatory actions. In a statement released on Wednesday, the Toronto-based gold miner accused a “small group of individuals” within Mali’s government of blocking a fully negotiated agreement—reached in February with the Ministry of Finance—for political or personal reasons. Despite Barrick already paying $85 million last year as part of ongoing negotiations, the agreement remains unsigned. “The… Read More Here

Mining in Zambia Corporate News Uranium

GoviEx Files Draft ESIA for Muntanga Uranium Project in Zambia

April 17, 2025April 17, 2025 Constance

TSX-listed GoviEx Uranium has submitted a draft Environmental and Social Impact Assessment (ESIA) to the Zambian Environmental Management Agency (ZEMA) for its Muntanga uranium project, marking a major milestone as the project advances from feasibility toward development. ZEMA will now review the draft ESIA and provide feedback and recommendations. GoviEx plans to incorporate this guidance into the final ESIA, which it expects to resubmit for approval in the second half of 2025. This submission follows the recent completion of a positive feasibility study that confirmed Muntanga as a robust, shallow… Read More Here

International Corporate News

Jubilee Metals Boosts PGM Output Through Strategic Partnership in South Africa

April 12, 2025April 12, 2025 Constance

AIM- and AltX-listed Jubilee Metals has signed a 12-month partnership agreement with an undisclosed platinum group metals (PGM) producer to process surplus PGM- and chrome-bearing material from its South African operations. The agreement follows a significant increase in chrome concentrate production, which reached a record 974,659 tonnes for the six months ending December 31, 2024. The rise was driven by the commissioning of two new chrome processing modules at the company’s Thutse operations. The higher chrome output led to an accumulation of PGM-rich surface stock, prompting Jubilee to seek a… Read More Here

Corporate News Gemstones

Gemfields Launches $30M Rights Issue to Bridge Funding Gap

April 12, 2025April 12, 2025 Constance

Johannesburg- and London-listed Gemfields has announced plans to raise approximately $30-million through a fully committed and underwritten rights issue, subject to shareholder approval. The company intends to issue 556.2-million new shares, marking a crucial step to strengthen its short-term financial position amid challenging market conditions. CEO Sean Gilbertson explained that Gemfields had explored external financing options for its wholly owned luxury jewellery brand Fabergé to mitigate an anticipated working capital shortfall. However, these efforts failed to secure timely funding. As a result, the board has recommended proceeding with the rights… Read More Here