International - Copperbelt Katanga Mining

South African Rare Earths Project Receives U.S. Support

January 19, 2024January 19, 2024 Constance

The United States (U.S.) is showcasing its support for South Africa’s Phalaborwa Rare Earths Project – poised to become the largest, low-cost producer of rare earths oxides globally – with Mining company, Rainbow Rare Earths, hosting a U.S. Congressional staff delegation for a site visit at the project this week. The visit follows a $50 million investment in the project by the U.S. government’s International Development Finance Corporation. The investment – which was announced on 3 December 2023 during the COP28 Summit in Dubai – will be made to private… Read More Here

International Copper

FQM Initiates Strategic Measures Following Cobré Panama Closure

January 17, 2024January 17, 2024 Constance

First Quantum has announced plans to explore the sale of smaller mines in its portfolio and stakes in larger mining assets as part of strategic measures to address challenges arising from the closure of Cobré Panama. The company, however, dismissed rumors of selling a stake in the company or whole mines, particularly in Zambia, where it remains committed. The closure of Cobré Panama resulted from a dispute with the Panamanian government, which ruled in December that the mine’s license violated several articles of the country’s constitution. First Quantum faces a… Read More Here

International Events & Expos Sponsored Content

Reviving Africa’s untapped exploration pipelines a key feature at Mining Indaba 2024

January 17, 2024January 17, 2024 Constance

The low-carbon economy of the future depends on mining and in turn, the future of mining largely depends on the exploration for and discovery of new mineral deposits. The African continent remains a treasure chest of green metals and minerals and has significant reserves of platinum cobalt, chromium and other battery metals. Yet despite this, Africa trails far behind when it comes to exploration spend, making it the last untapped mineral-rich continent. Mining Indaba 2024, taking place in Cape Town 5 – 8 February, will host a new and exciting… Read More Here

International Contracts & tenders Exploration News in Brief

Angola: Government and Rio Tinto sign investment contract today

January 17, 2024January 17, 2024 Constance

The second largest metals and mining company in the world, Rio Tinto, signs today 16th January, in Luanda, with the Angolan Government, a mining investment contract for prospecting and exploration of base metals in the province of Moxico. The information was provided by the Ministry of Mineral Resources, Oil and Gas, pointing out as the target of the contract the so-called “Moxico Concession”, which covers an area of 9,959 square kilometers. The list of base metals includes ores such as copper, lead, tin, aluminum, nickel and zinc. Rio Tinto, which officially entered Angola… Read More Here

International Gold

Barrick Reports Higher Q4 Gold Production

January 17, 2024January 17, 2024 Constance

Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) (“Barrick” or the “Company”) yesterday reported preliminary full year and fourth quarter 2023 production results. On the back of higher Q4 production, preliminary gold production for the full year of 4.05 million ounces was consistent with our forecast as guided in our third quarter release.1 Preliminary copper production of 420 million pounds for 2023 was within the guidance range of 420 to 470 million pounds. The preliminary Q4 results show sales of 1.04 million ounces of gold and 117 million pounds of copper, as well as… Read More Here

International Copper

FQM offers voluntary retirement to over 1,500 Panama mine staff

January 17, 2024January 17, 2024 Constance

First Quantum Minerals, opens new tab on Tuesday offered voluntary retirement to more than 1,500 employees at its key Panama mine, a day after announcing a major restructuring to conserve cash, which included suspension of dividends. The Canadian miner is dealing with the fallout of the Panama government’s decision in December to halt production at Cobre Panama mine following public protests, which accounted for more than 40% of the company’s annual revenue and is considered one of the biggest and newest copper mines in the world. Because of the closure… Read More Here

International Gold Mine Safety Mining safety Safety & Health

Collapse of goldmine in Tanzania kills 22, official says

January 15, 2024January 15, 2024 Constance

The collapse of an illegal small-scale gold mine has killed at least 22 people in northern Tanzania following heavy rains, a senior government official said on yesterday. The accident happened early on Saturday in the Simiyu region after a group of people aged between 24 and 38 years old started mining in an area where activity had been restricted due to ongoing heavy rains, Simon Simalenga, the region’s Bariadi district commissioner, told Reuters. “Initially we were told that there were 19 to 20 people who were trapped in the mines… Read More Here

International Copper

Panamanian commission visits copper mine shut down after court invalidated concession

January 15, 2024January 15, 2024 Constance

Panama’s government last week inspected a huge copper mine shut down after the country’s Supreme Court ruled in November that the government’s concession with a Canadian mining company was unconstitutional. The deal had triggered widespread street protests. The administration of President Laurentino Cortizo has promised to carry out an orderly closure of First Quantum Minerals’ mine. The process will take years if carried out in a way to avoid environmental impacts, according to the company, the government and outside experts. The mine’s closure meant the loss of thousands of jobs.… Read More Here

International Gold Mining Equipment

Epiroc wins large mining equipment order for gold mines in China

January 15, 2024January 15, 2024 Constance

Stockholm, Sweden: Epiroc, a leading productivity and sustainability partner for the mining and construction industries, has won a large order for underground mining equipment from Shandong Gold Group Co., Ltd for use at three gold mines in China. Shandong Gold Group, one of China’s largest gold mining companies, has ordered a fleet of mine trucks, loaders, and drill- and rock reinforcement rigs to expand production at the Jiaojia, Xincheng, and Sanshandao gold mines. The order is valued at about MSEK 350 and was booked in the fourth quarter 2023. Epiroc… Read More Here

Copper International

FQM to present initial preservation plan for Panama copper mine

January 14, 2024January 14, 2024 Constance

The Panama unit of Canadian miner First Quantum Minerals said Wednesday that it will present to government officials the first phase of its mine preservation plan on Jan 16, according to a statement, after its project was ordered closed last year. The Cobre Panama project, one of the world’s largest open-pit copper mines, was forced to shut down after Panama’s top court ruled that its contract was unconstitutional, following nationwide protests opposed to its continued operation. The plan should “ensure physical and chemical stability related to mining facilities and environmental… Read More Here