Exploration - Copperbelt Katanga Mining

Patriot Lithium Secures Major Stake in Zambia’s Kitumba Copper Exploration License 1

Australian mining company Patriot Lithium has reached an agreement with Newlight Nominees Zambia to acquire a 90% stake in the Kitumba Copper Large Scale Exploration License. The 255 km² license is strategically situated near Sinomine’s newly inaugurated $600 million Kitumba Copper Mine, which boasts an annual production capacity of 50,000 tons. This proximity positions Patriot to capitalize on a region with established mining infrastructure and proven copper potential. Patriot Lithium paid an initial $25,000 signing fee and has a 12-month window to establish a Special Purpose Vehicle (SPV) to complete… Read More Here

Mining in Zambia Copper Exploration New Mining Projects

Statunga Investments Secures Key License for Zambia’s Luansobe Copper Project Expansion

November 5, 2024November 5, 2024 Constance

Zambian mining firm Statunga Investments Limited has obtained an additional small-scale mining license for the Luansobe Copper Project in Zambia. This new license, numbered 34545-HQ-SML, is valid for ten years and authorizes the exploration and extraction of copper, as well as other base and precious metals, over a 384-hectare area. “We now have a second mining license for Luansobe, covering the underground resource area,” stated Colin Bird, Chairman of Galileo Resources. The license supports Galileo Resources’ strategy to develop both open-pit and underground resources at Luansobe. The company is also… Read More Here

Mining in DRC Exploration Oil & Gas

DRC and Angola Sign Key Agreement on Revenue Sharing for Block 14/23 Oil Exploitation

October 19, 2024October 19, 2024 Constance

On Wednesday, October 2, 2024, in Luanda, Angola, the Democratic Republic of Congo (DRC) and Angola signed the Regulation of the Supervision Commission of the Common Account for the Zone of Common Interest (ZIC) and an Agreement on revenue sharing and tax compliance related to ZIC – Block 14/23. This signing took place during the Angola Oil & Gas (AOG) International Conference, in the presence of Angolan President João Lourenço. DRC’s Minister of Finance, Doudou Fwamba Likunde Li-Botayi, and his Angolan counterpart, Vera Esperança dos Santos Daves da Costa, formalized… Read More Here

Mining in DRC Exploration Gold

Kibali Gold Mine Discovers Major Deposits, Expands Exploration in DRC

October 10, 2024October 10, 2024 Constance

At its 54th quarterly press conference on October 8 in Kinshasa, Kibali Gold Mines announced significant new deposit discoveries near its plant, boosting the mine’s long-term growth prospects. Mark Bristow, Barrick’s Chairman and CEO, shared that these discoveries will help maintain Kibali’s status as Africa’s largest gold mine for years to come. Bristow revealed that the newly identified “ARK” target, just 4 km from the processing plant, holds the potential for a high-grade deposit of several million ounces. This discovery, along with deeper extensions of the KCD deposit, will help… Read More Here

Mining in DRC Exploration New Mining Projects

EGC Reports Strong Exploration Results in DRC’s Tombolo and Kanunka Blocks

September 22, 2024September 23, 2024 Constance

Enterprise Générale du Cobalt (EGC) has announced promising exploration results from its leases in the Tombolo and Kanunka blocks in Lualaba province, Democratic Republic of Congo (DRC). In collaboration with Cobalt for Development (C4D) and funded by BASF, BMW, Samsung SDI, STIHL, and Volkswagen Group, EGC has initiated a comprehensive exploration program. This includes geological mapping, surface and subsurface soil and rock sampling, and drilling target identification Initial analyses show significant mining potential for copper and cobalt in the Tombolo and Kanunka blocks, which cover a total area of 2.51… Read More Here

Mining in Zambia Copper Exploration New Mining Projects

Midnight Sun Mining Expands Copper Exploration Near Kansanshi Mine

September 21, 2024September 22, 2024 Constance

Canadian exploration company Midnight Sun Mining has launched a new exploration phase at the Kazhiba target on its Solwezi property in Zambia. This initiative is part of the company’s ongoing cooperative exploration agreement with First Quantum Minerals, aimed at identifying near-surface oxide copper resources to supply the nearby Kansanshi mine, located less than 10 km away. The exploration program involves 3,000 meters of reverse circulation drilling, partial ionic leach sampling, and an induced polarization survey, all designed to evaluate the high-grade oxide copper blanket at Kazhiba. Midnight Sun President and… Read More Here

Mining in Zambia Exploration Uranium

GoviEx to acquire 51% interest in Zambia exploration license

September 9, 2024September 9, 2024 Constance

TSX- and OTCQX-listed GoviEx Uranium has obtained an option to acquire a 51% interest in the Lundazi exploration licence from Stalwart Investments. This move is a key part of GoviEx’s strategy to expand its footprint in Zambia’s uranium sector. The Lundazi licence spans 817.9 km², an area notable for the Karoo Supergroup formations, which are known to host significant sandstone-based uranium deposits. This geological setting makes the Lundazi region a promising site for uranium exploration. The geology in Lundazi closely mirrors that of GoviEx’s ongoing Muntanga project, also located in… Read More Here

Mining in Zambia Exploration

Midnight Sun Shares Drop After Zambia Rejects Kazhiba License Renewal

August 31, 2024August 31, 2024 Constance

Midnight Sun Mining Corp. (TSXV: MMA) saw its shares drop sharply late Thursday following the Zambian government’s rejection of its application to renew the exploration license for the Kazhiba target, part of its flagship Solwezi project. Kazhiba is one of three key targets within Midnight Sun’s 506 km² property in Zambia, which has already yielded significant copper discoveries. The area is underlain by a previously undiscovered basement dome similar to those found at First Quantum’s Kansanshi mine, a major copper producer in the region. These basement domes are believed to… Read More Here

Copper Exploration Mining in Zambia

Galileo Resources Begins Copper Exploration with Drill Program in Zambia

July 30, 2024July 30, 2024 Constance

London-listed Galileo Resources has engaged a Zambian contractor to commence a drill program of approximately 700 meters as part of the initial phase of exploration on licence 28001-HQ-LEL in Zambia, with rig mobilization scheduled for later this week. The licence is situated within the Western Foreland domain, an area potentially hosting Kamoa-Kakula-style copper deposits. The company states that the licence is strategically located along the strike of the Kamoa-Kakula mining complex in the Democratic Republic of Congo (DRC) and adjacent to a substantial exploration licence area acquired by Ivanhoe Mines… Read More Here

International Copper Exploration

CMR Secures High-Grade Silver/Copper Project in Morocco and Raises £750,000 for Exploration

July 26, 2024July 26, 2024 Constance

Critical Mineral Resources (CMR) has signed an exclusive option to acquire the Igli project, a high-grade silver/copper site in Morocco’s Anti-Atlas region, with reported grades up to 912 g/t silver and 2.97% copper. To support this acquisition and fund exploration, CMR has raised £750,000 through a convertible loan note (CLN) issue. A significant portion of this investment comes from the Swiss and UAE-based Prism Group, known for its long-term investment strategy. CMR’s nonexecutive chairperson, Dominic Traynor, will transition to executive chairperson to oversee the company’s strategic developments. The Igli project… Read More Here