International - Copperbelt Katanga Mining

Barrick Gold’s Twiga JV Drives Significant Economic Impact in Tanzania 1

Barrick Gold has contributed over $4.24 billion to the Tanzanian economy since the inception of its Twiga joint venture (JV) with the government in 2019. In 2024 alone, its investment amounted to $888 million. Twiga encompasses the North Mara and Bulyanhulu gold mines. Barrick President and CEO Mark Bristow highlighted the ongoing success of the Twiga partnership, emphasizing its leadership in Tanzania’s extractive sector. The JV has created thousands of jobs, supported local businesses, and funded essential community projects. In 2023, Barrick spent $573 million on national suppliers and service… Read More Here

Gold Corporate News International

B2Gold to Invest $10 Million in Fekola Exploration After Mali Settlement

January 26, 2025January 26, 2025 Constance0 comment

Canadian miner B2Gold is moving forward with plans to invest $10 million in exploration at its Fekola gold complex in Mali in 2025, following a settlement with the Malian government that has reduced the risk of disruption. In August 2023, Mali introduced a new mining code that increases the state’s share of mining revenues and removes tax exemptions for mining companies. B2Gold was one of the first companies to reach a settlement with the government, resolving an income tax dispute in September 2024 and agreeing to adapt one part of… Read More Here

International Corporate News New Mining Projects

Barrick Gold Seeks to Sell Stake in Zaldivar Copper Mine as Focus Shifts to Larger Projects

January 22, 2025January 22, 2025 Constance0 comment

Barrick Gold is looking to divest its 50% stake in the Zaldivar copper mine in Chile, as the company shifts its focus to larger and more profitable operations, according to sources familiar with the matter. The company has enlisted advisors and approached potential buyers for its share in the mine, which is jointly owned with Antofagasta. The process is still in its early stages, and no deal is guaranteed, the sources said, speaking on the condition of anonymity. Although Barrick is keen to expand its copper portfolio in response to… Read More Here

International Corporate News Gold New Mining Projects

Barrick Gold Supports Pakistan-Saudi Deal for Stake in Reko Diq Mining Project

January 22, 2025January 22, 2025 Constance0 comment

Pakistan is still in negotiations with Saudi Arabia over the sale of a minority stake in the Reko Diq copper and gold mining project, controlled by Barrick Gold. Key details, including where the minerals will be processed, remain under discussion. The Pakistani government hopes the agreement will extend beyond exploration to involve some downstream activities within the country, according to Musadik Malik, Pakistan’s petroleum minister. Earlier, the Saudi government announced plans to acquire Pakistan’s minority stake in the Reko Diq project through Manara Minerals Investment Co., a Saudi firm backed… Read More Here

International Battery Metals Cobalt

Chile Launches $3-$4 Million Initiative to Extract Cobalt and Rare Earths from Mining Waste

January 22, 2025January 22, 2025 Constance0 comment

SANTIAGO – Chile’s development agency, Corfo, has launched a call for studies focused on extracting cobalt and rare earths from mining waste, offering $3 million to $4 million per project for a three-year period. This initiative is part of Chile’s strategy to tap into its nearly 800 tailings deposits across the country. Mining companies are increasingly looking for ways to extract valuable metals from these waste deposits, especially as global demand for metals like cobalt and copper surges with the energy transition. “These are strategic minerals, particularly cobalt and rare… Read More Here

International Corporate News Mergers & Acquisitions

Glencore Explores Strategic M&A Opportunities Amid Industry Challenges

January 22, 2025January 22, 2025 Constance0 comment

LONDON – Mining and commodity trading giant Glencore has reaffirmed its openness to mergers and acquisitions (M&A) that enhance shareholder value, leveraging its position as one of the world’s top three copper producers. “As we have always said, M&A is something we are good at, and we are always open to transactions that are value-accretive for the company,” a Glencore spokesperson stated. In 2024, potential M&A activity dominated investor discussions within the mining sector. However, the challenges of integrating diversified producers were highlighted when BHP’s $49-billion bid for Anglo American… Read More Here

International Copper Gold New Mining Projects

Reko Diq Copper and Gold Project to Boost Pakistan’s Economy with $74 Billion in Cash Flow

January 20, 2025January 20, 2025 Constance0 comment

The Reko Diq copper and gold project in Pakistan is expected to generate approximately $74 billion in free cash flow over the next 37 years, according to Barrick Gold CEO Mark Bristow. The project, which Barrick co-owns with the governments of Pakistan and Balochistan, is considered one of the world’s largest underdeveloped copper-gold deposits, and its development is expected to have a significant positive impact on Pakistan’s struggling economy. Barrick holds a 50% stake in the mine, with the remaining ownership split between the federal and provincial governments of Pakistan.… Read More Here

Oil & Gas International

Rwanda Announces First Oil Discovery in Lake Kivu

January 19, 2025January 19, 2025 Constance0 comment

Rwanda has confirmed its first-ever oil discovery, identifying 13 reservoirs in Lake Kivu, which lies along its border with the Democratic Republic of Congo (DRC). “We have oil,” announced Francis Kamanzi, CEO of the Rwanda Mines, Petroleum, and Gas Board, during a parliamentary hearing, as reported by local media outlet Igihe. The discovery follows more than a decade of exploration efforts in the lake. Kamanzi expressed optimism about uncovering additional reserves, noting the significant oil deposits already identified in neighboring Uganda and the DRC within the Great Lakes region. Despite… Read More Here

International Energy

China’s Grid Investments Surge to Support Record Renewable Energy Growth

January 17, 2025January 17, 2025 Constance0 comment

China, the global leader in renewable energy development, is ramping up its investment in power infrastructure to ensure that its rapidly growing clean energy capacity reaches homes and businesses effectively. In the first 11 months of last year, spending on power transmission infrastructure surged 19% to 529 billion yuan ($72 billion), according to the National Energy Administration. While funding for new power generation capacity reached 866.5 billion yuan, its growth rate was 12%, marking the first time since 2018 that grid investment outpaced generation projects. State Grid Corporation of China,… Read More Here

International Copper

Copper Production Declines in Peru as Antamina Mine Output Drops

January 17, 2025January 17, 2025 Constance0 comment

Peru, the world’s third-largest copper producer, reported a decline in copper output for November, primarily due to reduced production at the Antamina mine. According to the Ministry of Energy and Mines, national copper production fell 4.6% year-over-year in November, reaching 241,883 metric tons. Cumulative output for 2024 through November stood at 2.47 million tons, representing a 1.1% decline compared to the same period in 2023. The drop in November’s output was significantly impacted by a 31% decrease in production from the Antamina mine. The mine, jointly operated by Glencore, BHP,… Read More Here