Corporate News - Copperbelt Katanga Mining

Vedanta Seeks $1 Billion to Boost Konkola Copper Mines Production

February 9, 2025February 9, 2025 Constance

Vedanta Resources is looking to raise approximately $1 billion in debt financing to develop Zambia’s Konkola Copper Mines (KCM), according to Chris Griffith, head of the company’s base metals division. While Vedanta previously considered selling at least 30% of its 80% stake in KCM, Griffith indicated that a sale now appears unlikely. “There is a much higher likelihood that we can raise the funds through various financing options,” he told Reuters on the sidelines of the Mining Indaba conference in Cape Town. “We own 80% of the business and clearly,… Read More Here

Mining in Zambia Corporate News Exploration New Mining Projects

Zambia’s IRL Partners with Barrick Gold to Boost Mining Exploration and Development

February 9, 2025February 11, 2025 Constance

Industrial Resources Limited (IRL), a subsidiary of Zambia’s Industrial Development Corporation (IDC), has partnered with Barrick Gold Corporation, a global mining leader, to advance exploration and development in Zambia’s mining sector. This strategic collaboration aims to unlock Zambia’s rich mineral potential, support the country’s mining growth targets, and drive economic development. The initiative aligns with Zambia’s broader vision to expand its mining sector, targeting an annual copper production of three million metric tons over the next decade. By combining IRL’s strong local expertise with Barrick’s world-class mining capabilities, the partnership… Read More Here

Mining in Zambia Corporate News Events & Expos

FQM STANDS WITH GOVERNMENT TO SHAPE THE NEW GLOBAL MINING LANDSCAPE

February 9, 2025February 9, 2025 Constance

CAPE TOWN, SOUTH AFRICA – First Quantum Minerals (FQM) joined mining industry leaders from around the globe in Cape Town last week to reinforce its commitment to Zambia and support the government’s vision of producing 3 million tonnes of copper a year. FQM Director of Corporate Affairs John Gladston shared the platform at the Investing in African Mining Indaba in South Africa with Minister of Mines and Minerals Development Hon. Paul Kabuswe, Zanaco chief executive Mukwandi Chibesakunda and Copperbelt Energy Corporation chief executive Mutale Mukuka. The panel was moderated by… Read More Here

Mining in Zambia Corporate News Infrastructural Development

KCM Partners with ZAMM-IMPORTS for Road Rehabilitation in Chingola and Chililabombwe

February 8, 2025February 8, 2025 Constance

Konkola Copper Mines (KCM) has entered into a strategic partnership with ZAMM-IMPORTS to supply construction materials for a major road rehabilitation project in Chililabombwe and Chingola. This initiative, part of KCM’s Corporate Social Responsibility (CSR) program, aims to enhance critical road infrastructure in the two districts. Under the agreement, KCM will provide ZAMM-IMPORTS with sand and crushed stones at a minimal cost for the next two years. These materials will be used to rehabilitate a 20-kilometre stretch of roads, improving connectivity and accessibility for local communities. During the signing ceremony… Read More Here

Mining in DRC Copper Corporate News

Barrick Expands into Copper Exploration in the DRC

February 6, 2025February 6, 2025 Constance

Barrick Gold is advancing its copper exploration efforts in the Democratic Republic of Congo (DRC), having already secured exploration permits in Haut-Katanga, according to Cyril Mutombo, the company’s Country Director. Speaking at the Investing in African Mining Indaba on February 5, 2025, he emphasized that exploration is the foundation of any mining project. Barrick has significant expertise in copper production, with existing operations in Zambia and Pakistan. The company is investing over $3 billion in expanding its Zambian copper mine, while its Pakistan mine is expected to produce for nearly… Read More Here

Mining in Zambia Corporate News Gemstones

Gemfields Suspends Emerald Sales Amid Zambian Export Duty

January 31, 2025January 31, 2025 Constance

Gemfields (LON: GEM) (JSE: GML), a leading miner of coloured precious stones, has paused the sale of emeralds from its Kagem mine in Zambia following the reintroduction of a 15% export tariff earlier this month. The company hopes the Zambian government will reverse the decision soon. Zambia, the world’s second-largest emerald producer after Colombia, initially imposed the 15% export duty in early 2019, but it was removed in January 2020 following industry pushback. However, the government reintroduced the tariff this year, prompting Gemfields to halt sales. The company had previously… Read More Here

International Battery Metals Corporate News

Trafigura Seeks Court Approval to Subpoena Wall Street Banks in Nickel Fraud Case

January 31, 2025January 31, 2025 Constance

Trafigura Group is seeking court approval to subpoena major Wall Street banks for information that could help the commodity trading giant trace over half a billion dollars lost in an alleged nickel fraud. The company is still pursuing the funds nearly two years after it was revealed that nearly $600 million worth of nickel, stored in containers, was actually low-value carbon steel. Trafigura is suing businessman Prateek Gupta and his affiliated companies in London for the funds. On Monday, Trafigura filed a request in a New York court to subpoena… Read More Here

Gold Corporate News International

B2Gold Moves Forward with $10 Million Investment in Mali’s Fekola Gold Complex After Settlement

January 31, 2025January 31, 2025 Constance

Canadian miner B2Gold has announced plans to invest $10 million in exploration at its Fekola gold complex in Mali this year, following a settlement with the Malian government over its new mining code that reduces the risk of disruption. In August 2023, Mali introduced a revised mining code, similar to those enacted by other military-led governments in West Africa. The new code increases the state’s share of mining revenues and removes tax exemptions for mining companies. B2Gold was one of the first companies to reach an agreement with Mali over… Read More Here

Mining in DRC Corporate News Gold

Kibali Gold Mine Achieves Record Performance and Strengthens Sustainability Efforts

January 31, 2025January 31, 2025 Constance

Barrick Gold Corp, headquartered in Canada, reports that its joint venture Kibali Gold Mine in the Democratic Republic of Congo achieved improved performance during the last quarter of 2024, culminating in its highest annual throughput since the mine’s commissioning. This milestone highlights the mine’s ongoing commitment to operational excellence and its ability to deliver strong results, according to the company. Sebastiaan Bock, Barrick Africa and Middle East COO, noted, “Despite facing challenges in 2024, including leadership changes and a necessary reset, Kibali has proven itself to be a reliable, low-cost… Read More Here

International Corporate News

Glencore Reports Decline in Copper, Cobalt, Zinc, Nickel, and Thermal Coal Output for 2024

January 31, 2025January 31, 2025 Constance

Glencore reported lower production of copper, cobalt, zinc, nickel, and thermal coal in 2024, aligning with its guidance. The company produced 951,600 metric tons of copper, a 6% decline from 1.01 million tons in 2023, reaching the lower end of its forecasted range of 950,000 to 1.01 million tons. Copper, essential for electric vehicle wiring, batteries, renewable energy infrastructure, and data centers, faces increasing supply constraints due to declining ore grades and rising demand driven by the energy transition. Glencore will release its 2025 production guidance alongside its annual financial… Read More Here