International - Copperbelt Katanga Mining

Great Southern Copper cheers 'very positive' period of exploration 1

Great Southern Copper PLC (LSE:GSCU) chief executive Sam Garrett cheered a “very positive first half” as the explorer filed its interim results covering the six-month period ended 30 September 2023. “We continue to make strong progress across our prospects and in particular at Especularita where our exploration campaigns have delivered encouraging results and helped to delineate promising prospects for further exploration,” he said in a statement. “In addition to these projects, during the period we also took our first foray into lithium with the acquisition of an option over the… Read More Here

Mozambique: Tanzanian dies in illegal mine collapse

December 29, 2023December 29, 2023 Constance

An illegal miner of Tanzanian nationality died on Sunday when a mine shaft collapsed in part of the concession granted to the company Montepuez Ruby Mining (MRM), in the northern Mozambican province of Cabo Delgado. According to a statement from MRM, the Tanzanian has been identified as 31 year old Maulide Maunau, who had been living in Nanhupo A, one of the villages that illegal miners use for temporary shelter. “At 20.00 on 24 December, a security official identified a group of 25 illegal miners inside the MRM concession”, said… Read More Here

International Economy

10 African countries with the highest debts to the IMF

December 29, 2023December 29, 2023 Constance

The International Monetary Fund (IMF) is a key player in global finance, offering monetary assistance to governments suffering economic difficulties. However, these loans from the IMF can have deep and varied effects on their economy. These effects are felt in some parts of Africa, particularly in regions where the debt is unsustainable. Typically as a last resort, countries often turn to the IMF in times of economic crisis to stabilize their financial systems. These loans help cushion the economic adversities said countries may be going through. Loans from the global… Read More Here

International Gold Press Release

Barrick’s Twiga Minerals Strengthens Gold Refining Alliance with Rand Refinery

December 29, 2023December 29, 2023 Constance

Tanzania – Barrick Gold Corporation (Barrick), through its subsidiary Twiga Minerals Corporation, has sought to further streamline its gold refining activities by growing its partnership with Rand Refinery. Rand Refinery is a world-leading, LBMA-accredited gold and silver refiner based in South Africa. Rand Refinery completed its own on-site due diligence process of the Twiga operations in line with the LBMA’s Responsible Gold Guidance and the OECD Due Diligence Guidance. The majority of Twiga’s gold doré is now sent to Rand Refinery, with the balance continuing to be refined by MMTC PAMP. All… Read More Here

International Copper

Copper price at four-month high on strong Chinese imports

December 28, 2023December 29, 2023 Constance

Copper prices spiked on Wednesday to their highest level in over four-and-a-half months on restocking in China and firmer physical demand. Three-month copper on the London Metal Exchange was little changed at $8,591 per metric ton by 1200 GMT after touching $8,665, the highest since Aug. 4. Copper for delivery in March rose on the Comex market in New York, touching $3.94 per pound ($8,668 per tonne), up 0.2% compared to Tuesday’s closing. China bought more copper in November, growing copper cathode imports by 13.5% from October to 378,791 tons,… Read More Here

Copper International

FQM says Panama hasn’t given legal basis to close mine

December 28, 2023December 28, 2023 Constance

Panama’s government hasn’t provided a legal basis to First Quantum Minerals Ltd. for pursuing a closure plan for its giant copper mine in the country, according to the metals producer. First Quantum has been unable to formally engage with the Central American government to clarify the legal situation and associated environmental obligations for its Cobre Panama mine, the Vancouver-based company said Friday in a statement. First Quantum’s statement comes two days after Panama’s Ministry of Commerce and Industries said it was pursuing a closure plan that will take several months… Read More Here

Gold International News in Brief

Recommissioning Starts as Porgera Prepares to Resume Operations in Q1 2024

December 24, 2023December 24, 2023 Constance

Following the formal completion of the Porgera Project Commencement Agreement on December 22nd, work has started on the recommissioning of the Porgera gold mine in Papua New Guinea, which has been in care and maintenance since April 2020. This work is expected to be completed over the next few weeks, paving the way for mining and processing to restart in the first quarter of 2024. Barrick president and chief executive Mark Bristow, who was closely involved in the negotiations that eventually delivered the restart agreement, said the mine’s new ownership… Read More Here

International Copper

Codelco reaches contract agreements with 3 unions

December 20, 2023December 20, 2023 Constance

Chilean miner Codelco, the world’s No. 1 copper producer, said on Monday it reached contract agreements with three unions, putting off the risk of a strike at the state-run giant. Codelco reached an early agreement with two unions at its Ventanas division, a copper refinery in the town of Ventanas about an hour from Valparaiso, the miner said in a statement. The 36-month contract offers were accepted by more than 70% of those who voted. In Santiago, the supervisors’ union, which had been in a formal negotiation period with the… Read More Here

International Equipment & Technology Mining Equipment Mining technology Press Release

Caterpillar Showcases Sustainable Underground Solutions to Newmont

December 20, 2023December 20, 2023 Constance

Caterpillar Inc. (NYSE: CAT) has successfully demonstrated its first battery electric prototype underground mining truck, growing its portfolio of battery electric and semi-autonomous technology for underground mining applications. The demonstration for Newmont and other industry leaders, at the company’s proving ground in Tasmania, Australia, comes on the heels of the 793 battery electric prototype surface mining truck, which was unveiled in November of 2022. Caterpillar developed its first battery electric prototype underground mining truck with voice of customer input and support from Newmont Corporation. The companies are collaborating to achieve… Read More Here

International Copper

Panama starts process for First Quantum’s mine ‘definitive’ closure

December 20, 2023December 20, 2023 Constance

Panama has started the process for Canadian miner First Quantum’s Cobre Panama mine’s “definitive” closure, a government statement said on Friday, following the official notification for the miner to end operations. The roadmap for the mine’s closure will be presented to the country in the coming days, Panama’s trade ministry said in a statement. The company did not immediately reply to a request for comment on the mine closure. Panama’s government earlier this month ordered First Quantum to end mining operations at its lucrative copper mine, following a court ruling… Read More Here