International - Copperbelt Katanga Mining

MMAMABULA Project: Jindal Builds Botswana’s Largest Coal Mine & Power Plant

June 18, 2023June 18, 2023 Constance

The multi-billion dollar O P Jindal Group is hitting the ground running to kick start its long awaited Mmamabula Coal Project. Jindal holds mining license for about 3 billion tonnes of coal in the East Mmamabula Coal Fields. The company is planning to carry out initial mining of 4.5 million tonnes per annum of coal and also to set up a 300 Megawatt power plant at Mmamabula, along with the related infrastructure works. The Jindal’s Mmamabula Coal Mine will be Botswana’s biggest, just 300 000 tonnes above state owned Morupule… Read More Here

International

Mozambique supercharges control of its Natural resource exports

June 18, 2023June 18, 2023 Constance

Mozambique’s government is implementing measures with the potential to generate hundreds of millions of USD annually, enhancing efficiency, combating smuggling, and reducing fiscal risks. Mozambique has taken a significant step forward in bolstering its economy with a new fiscal measure aimed at better control of its natural resources’s wealth as part of Filipe Nyusi’s PAE (Economic Acceleration Package). The country is implementing measure 6 of the PAE package, which aims to strengthen the supervision of natural resource export operations. The measure will ensure greater efficiency in the taxation of exports… Read More Here

Copper Gold International

Barrick Gold’s Informal Takeover Attempt Rejected by First Quantum Minerals

June 17, 2023June 17, 2023 Constance

First Quantum Minerals (TSE: FM) recently turned down an informal takeover proposal from Barrick Gold (NYSE: GOLD TSE: ABX), the world’s second-largest producer of precious metals. As mining companies search for growth opportunities, Barrick approached First Quantum in its quest to expand its presence in the copper market. However, First Quantum expressed its lack of interest in a merger and declined to engage in substantive discussions. Sources familiar with the matter revealed these details. Following the news, shares of First Quantum surged by as much as 12% during Canadian trading,… Read More Here

Transport and Logistics International

Benguela Railway highlights advantages of the Concessionaire

June 11, 2023June 11, 2023 Constance

The Benguela Railway (CFB) has played a vital role in regional development and economic transformation since its establishment on May 26, 1902. By unlocking new regions and providing access to markets for manufactured products, the CFB has contributed significantly to the growth and diversification of the economy. Through strategic investments by the Angolan government, the railway company is poised to assume a fundamental role in driving economic development. The Caminhos-de-Ferro de Benguela has served as a unifying force, fostering cultural convergence and facilitating the formation of a railway working class… Read More Here

Gold Economy International

Discover the Wealth: Unveiling Africa’s Top 10 Nations with Vast Gold Reserves

June 11, 2023June 11, 2023 Constance

African Countries Bolster Gold Reserves Amid Global Uncertainty. In recent years, African countries have taken significant steps to strengthen their gold reserves, positioning themselves favourably amidst global economic uncertainty. As geopolitical tensions and inflation concerns persist, the allure of gold as a safe-haven asset has intensified. Let’s explore the top 10 African countries with the largest gold holdings in 2023. Topping the list is Algeria, boasting the largest gold reserves on the continent, with a robust holding of 174 metric tons. South Africa closely follows, with official gold reserves reaching… Read More Here

Battery Metals International

Chinese unicorn startup develops all-weather EV Battery

June 11, 2023June 11, 2023 Constance

A young battery startup in China claims its latest cell technology is able to alleviate a major issue for EV owners today – the loss of charging performance and range in inclement weather, especially cold climates during winter. By utilizing superconducting materials, Greater Bay Technology says its new cells can charge and function as normal within six minutes, no matter the temperature outside. Guangzhou Juwan Technology Research Co., Ltd. – better known as Greater Bay Technology is a battery startup spun out of GAC Motor as recently as 2020. In that short time,… Read More Here

Copper International

Copper 360 Reports High-Grade Copper Intersections and Exciting New Discoveries

June 9, 2023June 9, 2023 Constance

Copper 360, a prominent mining company, has released drilling results that confirm the presence of high-grade copper intersections at its Rietberg copper mine. Furthermore, initial sampling has unveiled a new deposit of high-grade copper on the mine’s surface, marking a significant discovery. The recent exploration efforts focused on drilling four core boreholes near historical ones, successfully validating the copper values and widths recorded in the past. Particularly noteworthy were the findings from boreholes RB360-3 and RB360-4, which revealed copper grades of 2.97% over 22.27 meters and 3.57% over 6.66 meters,… Read More Here

Copper International

Glencore sells Copper mine for $US1.1 billion

June 9, 2023June 9, 2023 Constance

Coal miner Glencore will sell its CSA copper mine in Cobar, New South Wales, to Metals Acquisition Corp (MAC) for $US1.1 billion ($1.64 billion). CSA is an established, high-grade producing, long-life underground copper mine with an estimated current mine life of over 15 years, and MAC has identified opportunities to further extend it, subject to exploration success. The sale is the latest indicator of copper’s growing importance, after Evolution Mining extended its Ernest Henry mine life to 2040 earlier this week. Similarly, South32 is looking to grow its portfolio, identifying a copper mine… Read More Here

International Lithium

Namibia bans export of unprocessed Critical Minerals

June 9, 2023June 9, 2023 Constance

Namibia has banned the export of unprocessed lithium and other critical minerals, the government announced on Thursday June 8th, as it seeks to profit from growing global demand for metals used in clean energy technologies. The southern African country has significant deposits of lithium, which is vital for renewable energy storage, as well as rare earth minerals such as dysprosium and terbium needed for permanent magnets in the batteries of electric cars and wind turbines. “Cabinet approved the prohibition of the export of certain critical minerals such as unprocessed crushed… Read More Here

International Oil & Gas

Brent crude oil prices raise concerns

June 8, 2023June 8, 2023 Constance

The slight rise in the price of oil on international markets, driven in particular by the desire of Saudi Arabia, the second largest oil producer in the world behind the United States of America, to reduce its daily production by nearly one million barrels per day, raises concerns about the future of black gold prices. This Tuesday, June 7, 2023, the barrel of Brent crude oil is trading at 78.73 USD against 71 USD at the end of last week on the Inter Continental Exchange (ICE), the stock exchange specializing… Read More Here