Corporate News - Copperbelt Katanga Mining

Glencore Halts Copper Shipments from Chile’s Altonorte Smelter Amid Furnace Issues 1

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

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

March 26, 2025March 26, 2025 Constance

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 Constance

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 Constance

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 Constance

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 Constance

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 Constance

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

International Corporate News

Anglo American to Cut More Jobs Amid Restructuring

March 14, 2025March 14, 2025 Constance

Anglo American is planning further job cuts at its corporate offices as it moves forward with asset sales and the planned spin-off of its platinum business. According to sources familiar with the matter, employees likely to be affected have been notified, though no official announcement has been made. The company confirmed that the job reductions align with its ongoing restructuring efforts, adding that consultations are still in the early stages and the exact number of affected employees has yet to be determined. Anglo began restructuring last year after fending off… Read More Here

Mining in DRC Battery Metals Corporate News Lithium

AVZ Minerals Wins Legal Battle Over Manono Lithium Mine in DRC

March 14, 2025March 14, 2025 Constance

Australia’s AVZ Minerals has secured a legal victory against the Democratic Republic of Congo (DRC) and China’s Zijin Mining in a dispute over rights to the Manono lithium mine. The company is now in talks with U.S. investors to secure funding for the project. The International Court of Arbitration of the International Chamber of Commerce (ICC) has ordered DRC’s state-owned mining company, Cominiere, to pay a €39.1 million penalty for failing to comply with previous rulings preventing it from terminating its joint venture with AVZ. AVZ initially held the permit… Read More Here

International Corporate News Gold

Barrick Gold Committed to Resolving Mali Dispute Amid Operational Suspension

March 14, 2025March 14, 2025 Constance

Barrick Gold remains “fully engaged and committed to reaching a mutually beneficial resolution” with the Malian government to settle an ongoing dispute over its mining assets, according to a memo from Sebastiaan Bock, the company’s chief operating officer for Africa and the Middle East, seen by Reuters on Saturday. The dispute, which began in 2023, centers on Mali’s new mining code, which grants the state a larger stake in Barrick’s Loulo-Gounkoto gold mining complex. Tensions escalated when the government seized approximately three metric tons of gold from Barrick’s operations and… Read More Here