International - Copperbelt Katanga Mining

Panama Breakthrough adds to Good News for Global Copper supplies

March 2, 2023March 2, 2023 Constance

A breakthrough in contract talks at a mine in Panama is the latest piece of good news for global copper supplies following resumption of operations at a giant Indonesian mine and easing tensions in Peru. Panamanian officials are “very close” to reaching an agreement with First Quantum Minerals Ltd. over a new contract for the Cobre Panama mine, said Ebrahim Asvat, a lawyer advising the government in the negotiations. A deal could be reached within two weeks, he said. That would end a months-long dispute that culminated in the suspension of exports… Read More Here

International

Glencore Sentenced to pay $700 million in US After Bribery Guilty plea

March 2, 2023March 2, 2023 Constance

U.S. judge on Tuesday 28th February ordered Glencore Plc to pay $700 million in connection with its guilty plea over a decade-long scheme to bribe foreign officials across several countries. The sentence handed down by U.S. District Judge Lorna Schofield in Manhattan federal court consisted of a $428.5 million fine and $272 million in forfeiture, in line with a plea deal reached last May between the mining and commodity trading giant and federal prosecutors in Manhattan. Prosecutors have said Glencore paid more than $100 million in bribes to officials in countries including… Read More Here

Copper International

Panama and First Quantum Nearing Agreement over Copper Mine

March 1, 2023March 1, 2023 Constance

The Panamanian government and Canada’s First Quantum are nearing an agreement on their negotiations over the contract to operate a major copper mine, Ebrahim Asvat, a lawyer advising the government on the negotiations told Reuters on Tuesday 28th February. An agreement could be reached in less than two weeks, Asvat said, noting there are only three issues left to be solved, with two of them being in the final stage of negotiations. Asvat said the third issue was an “economic aspect” which involved the company asking for more tax deductions that would… Read More Here

Copper Battery Metals International

Cobre Completes 100% Acquisition of Triprop Holdings

February 28, 2023March 2, 2023 Constance

Cobre Limited has completed the issuance of 3,001,300 shares to various non-related parties of Triprop Holdings to move to 100% ownership of Triprop. Triprop is the registered license tenement holder for Cobre’s Ngami Copper Project as well as the northern portion of the Okavango Copper Project in Botswana. Triprop is now a wholly owned subsidiary of Kalahari Metals Limited which is also a wholly owned subsidiary of Cobre. The move to 100% ownership follows Cobre’s increase in ownership from 51% to 80%. The shares today are subject to a 12-month… Read More Here

Battery Metals International

Tesla & GM Join other Carmakers at Mining Events to Secure Battery Metals

February 26, 2023February 26, 2023 Constance

Top automakers including Tesla Inc., General Motors Co. and Ford Motor Co. are heading out on the mining conference circuit as soaring demand for metals used in electric vehicles ignites a scramble to lock in long-term supplies. Those major US firms, along with Rivian Automotive Inc. and European counterparts Stellantis N.V., Mercedes-Benz Group AG and Jaguar Land Rover Automotive Plc, will be mingling with the crowds of mining industry executives attending a major metals conference in Florida this week, according to multiple attendees who received a list of the event’s… Read More Here

International Battery Metals

Canada launches Eco-friendly EV with hemp and bio-composite Materials

February 24, 2023February 24, 2023 Constance

According to Project Arro, Canada has launched the first full-build, zero-emission vehicle named Project Arrow. An all-Canadian effort, it will be designed, engineered and built through the joint efforts of our world-class automotive supply sector and post-secondary institutions. Answering Prime Minister Trudeau’s call for a Zero-Emissions future by 2050, Project Arrow will bring together the best of the best of Canada’s electric-drive, alternative-fuel, connected and autonomous and light-weight technology companies. There’s the 3D-printed chassis made from composite materials to act as both a sturdy and lighter frame. To improve aerodynamics,… Read More Here

International Mine Safety Safety & Health

More bodies found in China Mine collapse, More Personnel Remain missing

February 24, 2023February 24, 2023 Constance

Rescuers with backhoes and bulldozers are digging through tons of earth and rubble to search for the missing mine workers after a coal mine collapsed in Alxa League, Inner Mongolia Autonomous Region. The death toll has risen to six, and 47 people remain missing nearly two days after the incident occurred. As of 10:30 p.m. on Thursday, February 23rd, six people have been successfully rescued. Conditions in the area remain dangerous, and the search had to be suspended for several hours after a second landslide at the gigantic facility in… Read More Here

International Copper

First Quantum Minerals Announces The Suspension of Ore Processing Operations at Cobre Panamá

February 23, 2023February 23, 2023 Arnie

First Quantum Minerals, today announced that its subsidiary, Minera Panamá S.A. (“MPSA”), has suspended ore processing operations at the Cobre Panamá mine. This interruption to operations is the result of the Panamá Maritime Authority’s (“AMP”) refusal to permit copper concentrate loading operations at the mine’s port, Punta Rincón, in accordance with its Resolution No. 007-2023 (the ”Resolution”). The Company believes that all of AMP’s requirements under the Resolution have been duly met and exceeded, however, the AMP has continued to block MPSA’s export operations. MPSA will begin a partial demobilization… Read More Here

International Battery Metals

Reviving Nigeria’s Neglected $700bn Mining Sector

February 22, 2023February 22, 2023 Constance

The country wants to better capitalize on its rich mineral resources Amid the global push for green energy solutions, Nigeria’s reserves of critical minerals such as lithium, manganese and nickel are in high demand, prompting the government to release a series of initiatives that will fast-track foreign direct investment into the sector. On February 8, the Africa Finance Corporation (AFC), a pan-African multilateral development financial institution, established a partnership with the Nigerian mining sovereign wealth fund, Solid Minerals Development Fund (SMDF). The partnership aims to accelerate commercial scale, private sector-led mining projects by providing… Read More Here

Battery Metals International

Ghana to Enter Electric Vehicle Market through $30 Million Deal with Atlantic Lithium

February 22, 2023February 22, 2023 Constance

Ghana’s state-owned Minerals Income Investment Fund (MIIF) is negotiating a $30 million investment in Atlantic Lithium (A11.AX), which is constructing a lithium mine in the West African country. Lithium, a critical component in batteries used in electric cars, is in great demand, and prices have skyrocketed, sparking interest in projects around Africa. The MIIF announced plans to acquire an equity share in Atlantic Lithium, which has consented to float on the Ghana Stock Exchange. The fund did not specify the size of the stake it was considering purchasing. Atlantic Lithium… Read More Here