Economy - Copperbelt Katanga Mining

Mopani Copper Mines Produces First 200 Tonnes of Copper Anodes Post-Revival

August 25, 2024August 25, 2024 Constance

Mopani Copper Mines has successfully produced its first 200 tonnes of copper anodes since its revitalization under new equity partner, International Resources Holdings (IRH). The company was officially handed over to IRH in March this year by President Hakainde Hichilema. Mopani Copper Mines CEO, Charles Sakanya, announced that significant transformations have taken place since the revival. In the past three months, 400 professionals have been hired to enhance productivity. The mine has also doubled its shifts, resulting in a notable increase in production. Current copper output stands at 65,000 tonnes,… Read More Here

Mining in Zambia Copper Economy

President Hichilema Officially Hands Over KCM to Vedanta Resources

August 22, 2024August 22, 2024 Constance

Konkola Copper Mines (KCM) has been officially handed back to Vedanta Resources, marking the beginning of a new chapter for both the Copperbelt region and the nation. At the re-launch ceremony in Chililabombwe, President Hakainde Hichilema emphasized the importance of resolving disputes through dialogue rather than legal battles, commending Vedanta Resources and the government for negotiating a successful outcome. He described the handover as a “new chapter for KCM” and expressed optimism about the future. President Hichilema highlighted that KCM’s revival under Vedanta will create jobs for Zambians and expand… Read More Here

Mining in Zambia Copper Economy Governance

President Hichilema Hails Three Years of Progress, Highlights Key Achievements

August 21, 2024August 21, 2024 Constance

President Hakainde Hichilema has hailed his three years in office as a success, emphasizing significant achievements across various sectors due to dedicated efforts. Among the accomplishments highlighted are the revitalization of key mining operations, including Mopani Copper Mines, Konkola Copper Mines (KCM), and Shaft 28 in Luanshya. The President made these remarks during an interaction with the public and journalists at Simon Mwansa Kapwepwe International Airport in Ndola. His visit to the Copperbelt Province is part of a two-day working tour. Earlier, President Hichilema met with UPND Bwana Mukubwa Party… Read More Here

Mining in Zambia Copper Economy

President Hichilema Urges Vedanta to Strengthen Community Relations as KCM Operations Resume

August 21, 2024August 21, 2024 Constance

President Hakainde Hichilema has called on Vedanta Resources Limited, the owner of Konkola Copper Mines (KCM), to improve its engagement with local communities as it resumes operations. He emphasized that the government has already discussed with the company to prevent the issues that led to the mine’s previous liquidation, stressing the need for a renewed commitment to responsible practices. The President also highlighted the importance of mining companies fulfilling their obligations to traditional leaders, including the sponsorship of cultural ceremonies. He made these remarks during a meeting with traditional leaders… Read More Here

Mining in DRC Economy Governance Partnership

ARSP and FOGEC Unite to Strengthen Congolese Entrepreneurship and Middle-Class Growth

August 20, 2024August 20, 2024 Constance

In a recent working session, leaders from two key public institutions under the Ministry of Industry and SME Development—ARSP (Regulatory Authority of Subcontracting in the Private Sector) and FOGEC (Entrepreneurship Guarantee Fund in Congo)—met to discuss their roles in supporting the growth of a genuine Congolese middle class. The meeting focused on practical strategies to empower local entrepreneurs and ensure the successful implementation of projects, aligning with President Félix Tshisekedi’s vision of job creation and economic development. The discussion included the FOGEC royalty on the subcontracting market, a critical topic… Read More Here

Mining in DRC Economy

DRC Minister of Mines Drives Economic Diversification and Environmental Standards in Katanga

August 20, 2024August 20, 2024 Constance

The Democratic Republic of Congo’s Minister of Mines, Kizito Pakabomba, is on a crucial mission to ensure that the mining sector plays a key role in the country’s economic diversification while adhering to environmental standards and benefiting local communities. This mission, which began on August 15, 2024, in Greater Katanga, reflects the government’s commitment to maximizing the impact of the mining industry on the national economy and improving the living conditions of the Congolese people. Accompanied by key officials including the Chairman of the Board of Directors of Gécamines, Mr.… Read More Here

Mining in DRC Copper Economy Mining in Zambia

Copper Prices Stabilize as DRC-Zambia Border Reopens After Brief Crisis

August 16, 2024August 16, 2024 Constance

Global copper prices have stabilized below the USD 9,000 per tonne mark following the resolution of a brief but intense border dispute between the Democratic Republic of Congo (DRC) and Zambia. Earlier concerns about a potential disruption to one of the world’s key copper export corridors had driven prices up for two days. However, after reaching around USD 8,900 per tonne on August 13, 2024, prices dipped slightly below USD 8,800 as tensions eased. The border crisis began when the DRC unilaterally banned the import of beer, soft drinks, and… Read More Here

International Copper Economy

Global Copper Demand to Surge by 75% by 2050

August 15, 2024August 15, 2024 Constance

Copper demand is projected to soar by 75%, reaching 56 million tonnes by 2050, according to a new report from data analytics firm Wood Mackenzie. This sharp increase will necessitate significant investment and strategic changes in the global supply chain, particularly as major economies seek to reduce reliance on China. Copper plays a critical role in electrification and decarbonization, making it indispensable for the global energy transition. However, China currently dominates the copper supply chain, including mining, downstream processing, and semi-manufacturing. As countries look to diversify supply chains away from… Read More Here

Mining in Zambia Economy

Zambia’s Finance Minister Urges Private Sector to Boost Growth and Productivity

August 11, 2024August 11, 2024 Constance

Zambia’s Finance and National Planning Minister, Dr. Situmbeko Musokotwane, has urged the private sector to maintain its growth momentum and enhance productivity across all sectors. In meetings with representatives from various commercial banks, Dr. Musokotwane expressed optimism that the country’s current challenges, including the energy deficit and food security issues worsened by drought, will significantly improve by next year. The Minister stressed the need for continued investment in the energy sector to support the government’s efforts to diversify energy sources. He emphasized the role of public-private partnerships (PPPs) in driving… Read More Here

Mining in Zambia Copper Economy

Proposed Mining Law Threatens Zambia’s Copper Production Goals

August 8, 2024August 8, 2024 Constance

Zambia’s proposed Minerals Regulation Law could deter investment and deliver a “fatal blow” to the country’s goal of increasing annual copper output to 3 million metric tons, according to two mining organizations. As Africa’s second-largest copper producer, Zambia is considering a Minerals Regulation Commission Bill that would allow the government to acquire a stake in exploration areas before granting licenses to investors for mineral exploration, including copper. The proposed legislation, which was reviewed by Reuters, seeks to empower the finance minister to maintain a shareholding in a mining license on… Read More Here