Corporate News - Copperbelt Katanga Mining

Kibali Mine Tackles DRC’s Energy Deficit with Renewables

November 17, 2024November 17, 2024 Constance

At the Makutano Forum on Thursday, November 14, 2024, several panelists discussed the theme, “Energy Deficit in the DRC: Can Miners Offer Solutions?” One of the key speakers, Jean-Paul Ilunga Mbayo, Power Engineer at Barrick Gold Corporation, highlighted the significant challenges faced by miners in investing in energy infrastructure in the Democratic Republic of Congo (DRC). Ilunga emphasized three primary challenges that hinder progress in addressing the country’s energy deficit. 1. Economic Challenges The foremost obstacle is the high tax burden associated with the construction of energy infrastructure. Ilunga pointed… Read More Here

Mining in DRC Cobalt Corporate News

Kamoto Copper Company’s Bank Accounts Unfrozen Amid Financial Reforms

November 17, 2024November 17, 2024 Constance

Kamoto Copper Company (KCC), a leading cobalt producer in the Democratic Republic of Congo (DRC), has had its bank accounts unfrozen following a decision reached during a working session at the Ministry of Finance on Tuesday. The meeting, which was attended by the Governor of Lualaba, Fifi Masuka, and KCC representatives, marked a significant step towards resolving the financial restrictions that have impacted the company since November 2022. The decision to unfreeze KCC’s accounts, according to Finance Minister Doudou Fwamba, is aimed at safeguarding the social interests of the Lualaba… Read More Here

Mining in Zambia Corporate News

Jubilee Metals Reports Strong Growth in South Africa and Zambia Operations

November 7, 2024November 7, 2024 Constance

Diversified metals producer Jubilee Metals has reported significant growth in its South African operations, with production increases across chrome and platinum group metals (PGMs) during the first quarter of FY 2025. The company’s South African operations, now well-established, are consistently exceeding targets. For the quarter ending September 30, chrome concentrate production rose by 8% to 455,381 tons, surpassing the targeted output. PGM production, which includes platinum, palladium, rhodium, ruthenium, iridium, and gold, reached 9,328 oz, aligning with guidance. “Jubilee’s chrome operations have achieved outstanding performance, exceeding quarterly targets,” the company… Read More Here

Mining in Zambia Copper Corporate News

IRH Advances Sustainable Transformation at Zambia’s Mopani Copper Mines

November 3, 2024November 3, 2024 Constance

International Resources Holding RSC Ltd. (IRH), a natural resources subsidiary of 2PointZero, has shared updates on transformative initiatives underway at the Mopani Copper Mines in Zambia. Acquired in early 2024, IRH aims to establish Mopani as the Copperbelt’s most productive copper mine through technological innovation, sustainability, and workforce collaboration. Transforming Mopani Copper Mines IRH’s acquisition of Mopani Copper Mines aligns with a vision to modernize and decarbonize the operation, with a target to increase copper production to 200,000 tonnes annually within three years. This initiative supports Zambia’s national goal of… Read More Here

Corporate News International

Glencore Maintains 2024 Production Targets Amid Positive Q3 Performance

November 3, 2024November 3, 2024 Constance

Glencore has reaffirmed its full-year 2024 production guidance across all commodities, the company announced in its third-quarter production report on October 30. This stable outlook reflects the addition of steelmaking coal from the July acquisition of a 77% stake in Elk Valley Resources (EVR), Canadian company Teck’s steelmaking coal business, according to CEO Gary Nagle. Throughout Q3, several key operations saw production increases. African Copper output rose by 6,000 tons (13% quarter-over-quarter), Antapaccay by 9,000 tons (35%), Kazzinc by 13,000 tons (27%), Murrin Murrin by 1,000 tons (7%), and Australian… Read More Here

Mining in DRC Corporate News

Haut-Katanga Assembly Launches Environmental Probe into MMG Kinsevere Amid Community Concerns

October 29, 2024October 29, 2024 Constance

Following environmental concerns raised by local communities over MMG Kinsevere’s mining activities, Michel Kabwe Muamba, President of the Haut-Katanga Provincial Assembly, has initiated a joint commission to investigate. On October 28, 2024, Kipushi Territory Administrator Gaunce Bupe Kapalo officially launched the commission’s work, which includes independent experts and representatives of affected parties. “We are here to fulfill our mandate from the Assembly President,” Kapalo said, calling on residents to remain calm as the commission aims for swift findings, expected by Friday. Representing MMG, Charles Kyona, Deputy General Manager for Stakeholder… Read More Here

Mining in DRC Corporate News

GECAMINES Advances Mining Transparency with Secure Certificate Initiative

October 27, 2024October 27, 2024 Constance

GECAMINES, a cornerstone of the mining sector in the Democratic Republic of Congo (DRC), has entered a new phase in securing its operations by obtaining the first secure certificates for its mining titles. The formal presentation of these certificates took place on Friday, October 18, 2024, in Kinshasa, conducted by the Mining Registry (CAMI). During the event, Guy Robert Lukama, Chairman of the Board of Directors of GECAMINES, received the certificates from Popol Mabolia Yenga, the Director General of CAMI. This initiative is part of the implementation of tamper-proof certificates… Read More Here

Gold Corporate News International

Mali Accuses Barrick Gold of Violating Agreement Amid Revenue Negotiations

October 25, 2024October 25, 2024 Constance

Mali has accused Barrick Gold of failing to meet commitments made in a recent agreement. The Canadian mining company, which operates the Loulo-Gounkoto gold mines in Mali, denied any wrongdoing on Thursday. Barrick, the world’s second-largest gold miner, announced on September 30 that it had reached an agreement with Mali’s government to settle disputes over the Loulo and Gounkoto mines. This announcement followed the brief detention of four Malian employees by authorities. However, in a joint statement dated October 23, Mali’s economy and mines ministries claimed Barrick had not fulfilled… Read More Here

Corporate News

ERG Releases Sustainable Development Report for the year 2023

October 25, 2024October 25, 2024 Constance

Eurasian Resources Group (“ERG”, or “The Group”), a leading diversified natural resources group headquartered in Luxembourg, publishes its Sustainable Development Report for 2023. The report provides information about ERG’s key business development projects and sustainability achievements and explains how the Group is delivering value to society as a whole. The report also showcases ERG’s actions to drive value chain assurance and promote robust ESG standards, supporting responsible production of the critical minerals needed for the green energy transition. In 2023, ERG continued to demonstrate business resilience against a challenging geopolitical… Read More Here

International Corporate News

Former Glencore Executives Await 2027 Trial for Bribery Charges

October 19, 2024October 19, 2024 Constance

A group of former Glencore executives accused of bribery and corruption in West Africa by UK authorities will have to wait until 2027 to stand trial. England’s criminal courts are currently facing a severe backlog of cases, worsened by years of underfunding, the COVID-19 pandemic, and lawyer strikes. On Wednesday, a judge at London’s Southwark Crown Court set a trial date for June 1, 2027, for the Serious Fraud Office’s case, which is anticipated to last up to six months. The accused include Alex Beard, the former head of oil… Read More Here