International - Copperbelt Katanga Mining

Cobre Panama Mine to Remain Shut as Govt Backs Safety Plan Only

May 31, 2025May 31, 2025 Constance

PANAMA CITY – The Panamanian government has approved a maintenance and environmental management plan for First Quantum Minerals’ shuttered Cobre Panama copper mine, but emphasized that the mine will not be reopened at this time, Trade and Industry Minister Julio Molto announced on Friday. Molto clarified that the approved plan focuses solely on care and environmental safety measures required following the mine’s abrupt closure by government order in late 2023, under the previous administration. “The mine is not being reopened. We’re authorizing the implementation of a care and safe management… Read More Here

International Corporate News Mining Personality

Rio Tinto CEO Jakob Stausholm Steps Down Amid Cost Control Tensions

May 30, 2025May 30, 2025 Constance

Rio Tinto and CEO Jakob Stausholm have agreed to part ways, following growing tensions over his reluctance to align with board priorities—particularly around cost control—despite recent expansions in lithium, copper, and iron ore, according to three sources familiar with the matter. The world’s second-largest listed mining company surprised investors last week by announcing Stausholm’s departure, stating he would remain in his role until a successor is appointed. No official reason was given, and sources confirmed the decision was not linked to any scandal. Stausholm had shown no signs of stepping… Read More Here

International Copper Corporate News

Glencore Taps Russian Copper to Ease Supply Crunch in China

May 30, 2025May 30, 2025 Constance

Glencore Plc is purchasing Russian copper from the London Metal Exchange (LME) and preparing to ship it to China, underscoring tightening supply conditions in the world’s largest copper-consuming nation. Over the past three trading sessions, about 15,000 tons of copper have been requested for withdrawal from LME warehouses in Rotterdam, drawing available inventories to their lowest level in a year, according to exchange data. People familiar with the matter say Glencore is behind these withdrawals and intends to deliver the Russian-origin copper to China. This move is notable given the… Read More Here

International Copper

Chile Raises Copper Price Forecasts Amid Supply Constraints and Improved Trade Outlook

May 29, 2025May 29, 2025 Constance

Chile, the world’s largest copper producer, has raised its price projections for the metal for both this year and next, citing easing trade tensions and global supply disruptions that point to a looming market deficit. According to a report released Wednesday by the Chilean Copper Commission (Cochilco), copper prices are now expected to average $4.30 per pound in 2025 and 2026. This marks an upward revision from the previous forecast of $4.25 for both years. The updated quarterly forecast had been delayed to allow more time for analysis following recent… Read More Here

International Corporate News Gold

Barrick Awaits Court Ruling in Mali Amid Ongoing Dispute Over Mine Control

May 26, 2025May 26, 2025 Constance

Barrick Gold Corporation, listed on the NYSE and TSX, is awaiting a court ruling scheduled for June 2 by the Bamako Commercial Tribunal regarding the Mali government’s attempt to place the Loulo-Gounkoto mining complex under provisional administration. The move follows the government’s formal request submitted to the court on May 8. In response, Barrick’s Loulo and Gounkoto operations filed legal objections on May 22, contesting the government’s demand. A preliminary hearing on May 15 granted the company an opportunity to present its case. In an official statement, Barrick firmly rejected… Read More Here

International Battery Metals Lithium

Nigeria to Commission Lithium Plants in Shift Toward Domestic Value Addition

May 26, 2025May 26, 2025 Constance

Nigeria is poised to launch two major lithium processing plants this year, marking a strategic shift from exporting raw minerals to developing domestic value chains through processing, manufacturing, and job creation. Mining Minister Dele Alake announced that a $600 million lithium processing facility near the Kaduna-Niger border will be commissioned this quarter, while a $200 million refinery on the outskirts of Abuja is nearing completion. He also revealed that two additional lithium plants are expected to be operational in Nasarawa State by the third quarter of 2025. “We are now… Read More Here

International Corporate News Mining safety

Sibanye-Stillwater Rescues Dozens as 181 Remain Trapped at Kloof Gold Mine

May 25, 2025May 25, 2025 Constance

Precious metals producer Sibanye-Stillwater (JSE: SSWJ, NYSE: SBSW) confirmed on Friday that nearly one-third of the 260 miners trapped underground at its Kloof gold mine, located approximately 60 kilometers west of Johannesburg, South Africa, have been safely brought to the surface. The company reported that the remaining 181 miners are safe, with access to food and water, and are currently gathered at an underground assembly point within Kloof, one of Sibanye’s deepest and most significant operations. Rescue efforts are ongoing, and the company is working to hoist the remaining workers… Read More Here

Lithium Corporate News Gold International

Kuvimba Mining Seeks $950 Million to Boost Gold and Lithium Production in Zimbabwe

May 25, 2025May 25, 2025 Constance

Kuvimba Mining House, one of Zimbabwe’s leading mining companies, is looking to raise $950 million to expand its gold and lithium production, CEO Trevor Barnard announced at a mining conference in Victoria Falls. “First and foremost, we need funding,” Barnard said. “We require a significant amount of capital to make our businesses work.” He did not reveal the potential investors involved in the fundraising effort or the timeline for securing the financing. Kuvimba owns some of Zimbabwe’s oldest and most prominent gold mines, including Freda Rebecca and Shamva. The company… Read More Here

International Battery Metals Corporate News Lithium New Mining Projects

Rio Tinto Secures Majority Stake in Chile’s Altoandinos Lithium Project

May 25, 2025May 25, 2025 Constance

SANTIAGO – Chile’s state-owned National Mining Company (ENAMI) has selected global mining giant Rio Tinto to take a 51% stake in the Altoandinos lithium project, marking the company’s second major lithium venture in Chile. Rio Tinto will initially invest $425 million to fund pre-feasibility studies, including the deployment of its pilot plant at the Rincon project in Argentina and the use of its proprietary direct lithium extraction (DLE) technology. The partnership was announced on Thursday, following a competitive bidding process in which Rio outpaced contenders such as France’s Eramet, China’s… Read More Here

Economy International

Brazil Central Bank Doubts BRICS Will Dethrone the US Dollar Within a Decade

May 25, 2025May 25, 2025 Constance

Brazil’s central bank has cast doubt on the likelihood of BRICS nations displacing the U.S. dollar as the dominant global currency within the next decade. Nilton David, Director of Monetary Policy at Brazil’s Central Bank, stated during a recent webcast that, despite the growing economic strength of the BRICS bloc, there is no realistic scenario in which the group could build financial systems or markets large enough to challenge the global dominance of the dollar. “There is not a meaningful stock of BRICS-denominated assets that could offset the dollar at… Read More Here