International - Copperbelt Katanga Mining

Glencore to Take 10% Stake in Cobalt Investment Firm Amid Market Slump

March 16, 2025March 16, 2025 Constance

Glencore is set to acquire a 10% stake in Cobalt Holdings, a new investment company planning to list on the London Stock Exchange in May, the Financial Times reported. Cobalt Holdings will operate similarly to commodity investment firms like Yellow Cake, which deals in uranium, by purchasing and holding physical supplies of cobalt. As part of a long-term agreement, Glencore will sell $200 million worth of cobalt—produced as a by-product of its copper mining operations in the Democratic Republic of Congo (DRC)—to Cobalt Holdings. This move is expected to reduce… Read More Here

Panama Demands First Quantum Drop Legal Action for Mine Talks

March 16, 2025March 16, 2025 Constance

Panama is urging First Quantum Minerals (TSX: FM) to immediately withdraw its legal proceedings against the government if the company is serious about negotiating a restart of its shuttered Cobre Panama mine. President Jose Raul Mulino announced that he has authorized the export of stockpiled copper concentrate from the open-pit mine, adding that First Quantum must compensate Panama since the material will be processed abroad. “The concentrate is being wasted, and Panama has invested heavily in it,” Mulino stated during a press conference in Panama City. “The mine’s future will… Read More Here

International Copper

Panama Clears First Quantum to Export Stockpiled Copper

March 15, 2025March 15, 2025 Constance

First Quantum Minerals has received approval to begin exporting stockpiled copper from its halted Cobre Panama mine, signaling a possible shift toward negotiations for a restart. Panama’s President, José Raúl Mulino, announced on Thursday that he had authorized the shipment of copper concentrate accumulated at the mine, which has been shut down since late 2023. “I authorized the removal of the material that is just sitting there. It’s being wasted, and Panama has invested a significant amount of money in it,” Mulino stated. He added that First Quantum must reimburse… Read More Here

International Corporate News

Anglo American to Cut More Jobs Amid Restructuring

March 14, 2025March 14, 2025 Constance

Anglo American is planning further job cuts at its corporate offices as it moves forward with asset sales and the planned spin-off of its platinum business. According to sources familiar with the matter, employees likely to be affected have been notified, though no official announcement has been made. The company confirmed that the job reductions align with its ongoing restructuring efforts, adding that consultations are still in the early stages and the exact number of affected employees has yet to be determined. Anglo began restructuring last year after fending off… Read More Here

Electricity International

Tanzania Seeks to Import 100MW of Ethiopian Power via Kenya

March 14, 2025March 14, 2025 Constance

Kenya’s Energy and Petroleum Regulatory Authority (EPRA) has confirmed receiving an application from Tanzania to import 100 megawatts of electricity from Ethiopia using Kenya’s transmission network. EPRA Director General Daniel Kiptoo stated that the request involves a collaboration between Ethiopia Electric Power, Kenya Electricity Transmission Company (KETRACO), and Tanzania Electric Supply Company Limited (TANESCO). He added that the application is under review, with a final decision expected by the end of March after evaluating its technical and economic feasibility. “We are currently assessing both the technical and economic aspects. The… Read More Here

International Corporate News Gold

Barrick Gold Committed to Resolving Mali Dispute Amid Operational Suspension

March 14, 2025March 14, 2025 Constance

Barrick Gold remains “fully engaged and committed to reaching a mutually beneficial resolution” with the Malian government to settle an ongoing dispute over its mining assets, according to a memo from Sebastiaan Bock, the company’s chief operating officer for Africa and the Middle East, seen by Reuters on Saturday. The dispute, which began in 2023, centers on Mali’s new mining code, which grants the state a larger stake in Barrick’s Loulo-Gounkoto gold mining complex. Tensions escalated when the government seized approximately three metric tons of gold from Barrick’s operations and… Read More Here

International Copper Exploration New Mining Projects

BHP to Invest A$40 Million in Botswana Copper Exploration with Cobre

March 13, 2025March 13, 2025 Constance

Mining giant BHP has committed up to A$40 million to explore potential Tier 1 copper-silver deposits in Botswana through a partnership with Australia-listed Cobre. Announced on Monday, the agreement provides funding to advance Cobre’s Kitlanya East and Kitlanya West copper projects, located along the northern and southern basin margins of the Kalahari Copper Belt. Under the earn-in agreement, BHP will invest up to $25 million (approximately A$40 million) in exploration expenditure to acquire a 75% stake in the Kitlanya projects. An initial $5 million will be invested within the first… Read More Here

International Exploration New Mining Projects

Botswana Diamonds Expands Exploration with 11 New Prospecting Licences

March 13, 2025March 13, 2025 Constance

AIM-listed Botswana Diamonds has applied for 11 prospecting licences in Botswana, targeting copper, silver, cobalt, gold, nickel, zinc, and platinum group metals. This move follows the company’s AI-driven exploration programme, which initially focused on diamonds but uncovered hidden polymetallic deposits across the country. The nationwide AI exploration initiative began with a focus on diamonds. However, during data analysis, it became evident that the technology could also identify undiscovered polymetallic targets. “Our analysis has revealed a series of promising targets in copper, cobalt, zinc, and gold,” said chairperson John Teeling. “We… Read More Here

International Gold

UK Court Orders Barrick Gold to Pay $2 Million to Ian Hannam’s Firm

March 13, 2025March 13, 2025 Constance

LONDON – Canada’s Barrick Gold has been ordered to pay $2 million plus expenses to British dealmaker Ian Hannam’s firm, Hannam & Partners, for its role in the 2018 acquisition of gold miner Randgold Resources, London’s High Court ruled on Wednesday. Hannam, a former top banker at JPMorgan, earned the nickname “king of mining” for brokering major resource sector deals, including the 2001 merger that created BHP Billiton and the 2012 Glencore-Xstrata merger. Hannam & Partners sued Barrick over an alleged agreement made before the Randgold acquisition, claiming it was… Read More Here

International Copper

Franco-Nevada’s Arbitration with Panama Advances as Hopes Rise for Cobre Panama Restart

March 11, 2025March 11, 2025 Constance

Arbitration between Franco-Nevada (TSX, NYSE: FNV) and Panama over the fate of the $10 billion Cobre Panama copper mine is progressing, with a tribunal set to hear the case in October 2026. The dispute follows the 2023 closure of the mine, which forced Franco-Nevada to take a $1 billion impairment charge. Franco-Nevada had a gold-copper streaming agreement with First Quantum Minerals (TSX: FM), the mine’s owner and operator. The legal uncertainty hasn’t deterred investor optimism, with Franco-Nevada’s stock reaching a 52-week high of C$212 per share and its market capitalization… Read More Here