International - Copperbelt Katanga Mining

Vedanta Resources Sells $209 Million Stake in Vedanta Ltd 1

Vedanta Resources, the parent company of Vedanta, has divested a stake valued at over 17.37 billion rupees ($209 million) in the Indian mining giant, according to exchange data released this week. Finsider International, a subsidiary of Vedanta Resources led by billionaire Anil Agarwal, sold more than 65.5 million shares of Vedanta at 265.14 rupees each, representing a 5.2% discount to Vedanta Ltd’s closing price on Wednesday. Vedanta Ltd’s stock closed 4.2% lower at 267.95 rupees on Thursday. As of December 31, 2023, UK-based Vedanta Resources held a 63.72% stake in… Read More Here

Premier African Minerals Secures Funding for Zulu Lithium and Tantalum Project

February 16, 2024February 16, 2024 Constance

Aim-listed Premier African Minerals has announced plans to raise £2.48 million to advance its Zulu lithium and tantalum project. The funds will be utilized for direct operating expenses at Zulu, including final payments for equipment, mining costs, and day-to-day operations. CEO George Roach emphasized the importance of this funding, stating that it ensures the startup of plant operations at Zulu. The company remains focused on its objective and targets to commence production by next week, pending suppliers meeting their obligations. Premier has expanded its mining operations to optimize ore delivery… Read More Here

International Gold Press Release

Barrick Announces New Share Buyback Program

February 16, 2024February 16, 2024 Constance

Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) (“Barrick” or the “Company”) announced on Wednesday that it plans to undertake a new share repurchase program for the buyback of its common shares. Barrick’s Board of Directors has authorized a new program for the repurchase of up to $1.0 billion of the Company’s outstanding common shares over the next 12 months at prevailing market prices in accordance with applicable law. In connection with the new share repurchase program, Barrick has terminated the share repurchase program announced by the Company on February 15, 2023. The Company… Read More Here

Gold International

Clear Strategies and Strong Partnerships Set Barrick Up to Outperform

February 16, 2024February 16, 2024 Constance

A strong finish to 2023 boosted Barrick’s full-year gold production to 4.05 million ounces and its copper output to 420 million pounds1 while its Tier One2 gold mines capitalized on a record gold price to deliver a robust financial performance. Commenting on the annual results here today, president and chief executive Mark Bristow said despite picking up the pace in the latter half of the year, Barrick couldn’t quite make up for the challenges it faced in the first half, and gold production fell slightly short of the annual guidance as flagged… Read More Here

Oil & Gas International Natural gas

Congo Takes the Lead in Advancing Gas Initiatives

February 16, 2024February 22, 2024 Constance

The Republic of Congo is a mature hydrocarbon market with proven resources, including 1.8 billion barrels of oil reserves and 284 billion cubic meters of natural gas reserves. Despite this, the country’s on- and offshore territory remains underexplored and operators have been slow to add value to crude resources. However, a new gas monetization drive, coupled with several offshore exploration and development programs, presents investors with dynamic opportunities in gas processing and refining, LNG trade and infrastructure upgrades. The upcoming Invest in African Energy (IAE) 2024 forum, scheduled for May… Read More Here

International Gold Mining in Uganda

Uganda Strengthens Border Control Measures for Gold Shipments

February 12, 2024February 12, 2024 Constance

Uganda has recently implemented stringent measures to enhance the verification of products entering its borders, particularly focusing on gold shipments. The Uganda Revenue Authority (URA) issued a notice informing clearing officers of a new rule aimed at ensuring the legitimacy of such imports. According to a report by the East African, the URA has written to Ugandan airlines, warning that gold shipments will be denied unless exporters provide proof of payment clearance. This move comes as a response to concerns about the violation of East African Community Customs Management due… Read More Here

Events & Expos International Sponsored Content

RAMAPHOSA OPENS MINING INDABA WITH CALL FOR COLLABORATION

February 6, 2024February 12, 2024 Constance

Investing in African Mining Indaba 2024 opened yesterday 5th January in Cape Town with a record 11,000 registered delegates from 126 countries, and 8,000 delegates attending on the first day. South Africa’s President Cyril Ramaphosa delivered a keynote address at the opening ceremony with a clarion call for collaboration between the mining industry and government, highlighting the immense potential that Africa has in being central to the global clean energy transition. “Our Just Energy Transition Investment Plan outlines a pathway to create new industries and support more livelihoods in the… Read More Here

International Copper

𝗕𝗢𝗧𝗦𝗪𝗔𝗡𝗔 𝗖𝗢𝗠𝗣𝗘𝗧𝗜𝗧𝗜𝗢𝗡 𝗔𝗨𝗧𝗛𝗢𝗥𝗜𝗧𝗬 𝗔𝗣𝗣𝗥𝗢𝗩𝗘𝗦 𝗞𝗛𝗢𝗘𝗠𝗔𝗖𝗔𝗨 𝗧𝗔𝗞𝗘 𝗢𝗩𝗘𝗥 𝗕𝗬 𝗠𝗠𝗚 𝗚𝗥𝗢𝗨𝗣

February 4, 2024February 4, 2024 Constance

Botswana Competition & Consumer Authority (CCA) has given green light to the take over of Khoemacau Copper Mining by Chinese global miner MMG Limited. In a merger notice to the market this week the authority said after all the necessary assessments it is all systems go from their end. The Competition Authority screens a proposed transaction and looks into the acquiring enterprise and the target company aswell as the relevant markets, competitive analysis and public interest. The Acquiring Enterprise, AcquireCo, is a company incorporated in accordance with the Laws of… Read More Here

International Economy

BRICS: South Africa announces five new confirmations

February 4, 2024February 4, 2024 Constance

Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates have officially confirmed their participation in the BRICS bloc after receiving invitations last year, according to South Africa’s Foreign Minister Naledi Pandor. These five nations, along with Argentina, were invited to join the bloc during a summit in August held in Johannesburg, joining the existing BRICS members—Brazil, Russia, China, India, and South Africa, Reuters reported. However, Argentina has officially declined the invitation to join the BRICS bloc, as President Javier Milei, who assumed office, reversed his predecessor’s membership bid. “With… Read More Here

Copper International

FQM to sell 120,000 tons of copper in Panama mine

February 4, 2024February 4, 2024 Constance

Canadian miner First Quantum Minerals said on Monday it intends to sell the 120,000 tons of copper concentrate stored near the Punta Rincon port. First Quantum’s Panama unit said in a statement that due to the lack of options available to finance the essential activities of preservation and safe operations, selling the copper concentrate is the best alternative to generate resources to cover the costs. In December, the Panama government ordered the shutdown of First Quantum’s Cobre Panama mine after protests erupted across the country against the mine. Since then,… Read More Here