Corporate News - Copperbelt Katanga Mining

Kamoa Kakula copper mine disruption likely caused by overmining says Ivanhoe 1

Seismic activity that recently disrupted production at the massive Kamoa-Kakula copper mine in the Democratic Republic of Congo appears to have been self-induced, according to preliminary findings released by the mine’s operator, Ivanhoe Mines Ltd. The incident, which occurred last month and resulted in flooding in parts of the mine, originated in an area where a significant portion of the ore had already been extracted, the company revealed in a filing on Wednesday. “Current thinking postulates that blocks of ore, earmarked for secondary extraction, began to collapse in a cascading… Read More Here

Barrick Urges DRC to Strengthen Gold Mining Policies Amid Market Surge

June 16, 2025June 16, 2025 Constance

Gold prices recently hit their highest level in a week, driven by escalating geopolitical tensions and renewed expectations of interest rate cuts in the United States. Against this backdrop, Cyril Mutombo, Country Director for Barrick Mining in the Democratic Republic of Congo (DRC), has called on the Congolese government to enhance its mining policies to attract more gold-focused investment. Speaking during a panel on Thursday, June 12, 2025, at DRC Mining Week, Mutombo emphasized the need for a more investor-friendly environment to fully capitalize on the country’s gold potential. As… Read More Here

International Copper Corporate News

Sinomine Halts Tsumeb Smelter Operations Amid Global Copper Concentrate Shortage

June 15, 2025June 15, 2025 Constance

Sinomine Resource Group announced on Friday that it has temporarily suspended copper smelting operations at its Tsumeb facility in Namibia due to a global shortage of copper concentrate. The shortage comes amid a rapid increase in global smelting capacity, which has outpaced the supply of copper ore. The Tsumeb smelter, one of the few facilities worldwide capable of processing arsenic- and lead-rich copper concentrates, was acquired by Sinomine from Dundee Precious Metals in 2024. With an annual processing capacity of 240,000 metric tons, the plant has previously handled copper concentrate… Read More Here

Mining in DRC Battery Metals Cobalt Corporate News

Glencore Declares Force Majeure on Cobalt Shipments Following DRC Export Ban

June 15, 2025June 15, 2025 Constance

Glencore has declared force majeure on certain cobalt deliveries from the Democratic Republic of Congo (DRC), just days after the Congolese government imposed a temporary export ban on the key battery metal, according to three sources familiar with the matter who spoke to Reuters. The DRC, which produces the majority of the world’s cobalt, enacted a four-month export ban in February in a bid to ease a supply glut that had depressed prices to their lowest levels in nine years and reduced government revenue. As a result, Glencore, listed on… Read More Here

Mining in DRC Copper Corporate News

Ivanhoe Mines Cuts 2025 Copper Guidance After Seismic Flooding Disrupts Kamoa-Kakula Operations

June 15, 2025June 15, 2025 Constance

Ivanhoe Mines has lowered its 2025 copper production forecast for the Kamoa-Kakula complex in the Democratic Republic of Congo (DRC), following a temporary suspension of underground operations at the Kakula mine due to severe flooding caused by seismic activity. The incident, which occurred on May 18, forced a full shutdown of the Kakula underground mine and triggered an extensive geotechnical review. In response, Ivanhoe has implemented a revised short-term mine plan. Underground mining resumed on the western side of the Kakula mine over the past weekend, with operations on the… Read More Here

Corporate News Gemstones

Gemfields Raises $30 Million Through Successful Rights Issue

June 14, 2025June 14, 2025 Constance

Gemstone mining company Gemfields has successfully concluded a fully underwritten rights issue, originally announced on April 11. The offering resulted in the issuance of approximately 556 million new ordinary shares, raising around $30 million in capital for the company. Gemfields reported that it received valid acceptances for about 458 million of the new shares, representing roughly 82.4% of the total shares offered. The remaining 98 million shares will be taken up by the underwriters of the rights issue. Assore International Holdings will subscribe to approximately 64 million shares, while Rational… Read More Here

Mining in Zambia Copper Corporate News

FQM Trident Strengthens Zambia’s Mining Sector with Record Production and Sustainability Efforts

June 10, 2025June 10, 2025 Constance

Solwezi, Zambia – FQM Trident, a subsidiary of First Quantum Minerals, continues to solidify its position as a key player in Zambia’s mining sector. During a recent media tour, Assistant General Manager Frederic Wouters provided an update on the company’s operations, highlighting record production figures, environmental initiatives, and community investment efforts. In 2024, FQM Trident’s Sentinel Copper Mine produced an impressive 231,000 tons of copper, with similar output expected this year. Meanwhile, the newly commissioned Enterprise Nickel Mine is ramping up production and is projected to deliver up to 25,000… Read More Here

Mining in Zambia Copper Corporate News Economy

FQM Injects $2.6 Billion into Zambia’s Economy in 2024

June 8, 2025June 8, 2025 Constance

First Quantum Minerals (FQM) contributed over $2.6 billion to Zambia’s economy in 2024 through its operations at the Trident and Kansanshi mines in North-Western Province, according to the company’s latest Global Tax Transparency and Economic Contributions Report. The report reveals that FQM paid $650 million in taxes, spent $1.75 billion on local procurement, disbursed $236 million in wages to local employees, and invested $13 million in community development initiatives. In terms of output, the two mines produced 402,000 tonnes of copper and 19,000 tonnes of nickel last year. FQM continues… Read More Here

Mining in DRC Corporate News

Abu Dhabi’s IRH to Acquire Majority Stake in Alphamin for Over C$500 Million

June 8, 2025June 8, 2025 Constance

Tremont Master Holdings (TMH), the majority shareholder of U.S.-based Alphamin Resources Corp., has entered into a definitive agreement to sell 718,990,967 common shares—representing approximately 56% of Alphamin’s outstanding shares—to Abu Dhabi-based International Resource Holdings (IRH). The transaction is valued at C$503.3 million (US$367 million), based on a price of C$0.70 per share, subject to certain closing adjustments. Alphamin announced the agreement in a press release issued on Thursday, June 5, 2025. The full terms of the transaction were initially outlined in a joint press release by TMH and IRH dated… Read More Here

Mining in DRC Corporate News Gold

Kibali Gold Dominates DRC Gold Production Despite Regional Instability

June 8, 2025June 8, 2025 Constance

According to statistics from the Technical Unit for Coordination and Mining Planning (CTCPM) under the Ministry of Mines, Kibali Gold, a leading industrial gold mining company based in the Haut-Uele province of the Democratic Republic of Congo (DRC), produced 5,865.62 kilograms of gold between January and March 2025. This output represents 99.5% of the country’s total industrial gold production during that period. Kibali Gold significantly outperformed its competitors. MCCR recorded just 18.65 kg (0.3%), followed by Kimia Mining Investment with 4.88 kg (0.083%) and Sokomo (Ding Cheng) with 4.62 kg… Read More Here