International - Copperbelt Katanga Mining

Barrick-Tanzania Partnership Generates Bulk of Nation’s Mining Revenue 1

The Twiga partnership between Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) and the Tanzanian government is contributing 51% of the government’s revenue from the extractive industry, according to the latest report of the Tanzania Extractive Industry Transparency Initiative. Twiga comprises the North Mara and Bulyanhulu gold mines. Both mines also led the industry’s safety performance, with Bulyanhulu winning this year’s Occupational Safety and Health Award and North Mara named as the best company for caring for workers with special needs by Tanzania’s Occupational Safety and Health authority. Speaking to the media and local… Read More Here

International Copper

TotalEnergies Eyes Copper Trading to Capitalize on Energy Transition

October 7, 2024October 7, 2024 Constance

France’s TotalEnergies is exploring the possibility of expanding its oil trading operations into copper, aiming to benefit from the growing demand for metals driven by the global energy transition, according to a report by the Financial Times. Rahim Azouni, Senior Vice President of Crude, Fuel, and Derivatives Trading at TotalEnergies, revealed at a private conference in London that the company is “studying the case” for entering the copper trading market. However, no final decision has been made, according to sources present at the event. This move would follow the path… Read More Here

International Copper

Rio Tinto Chairman Calls for New Mines to Meet Energy Transition Demand

October 6, 2024 Constance

The world urgently needs new mines to meet the growing demand for essential energy-transition metals like copper, according to Rio Tinto Group chairman Dominic Barton. He stressed that mergers and acquisitions (M&A) alone won’t close the looming supply gap. “We can’t rely solely on inorganic growth through deals to solve this issue,” Barton said in a Bloomberg TV interview. “The challenge is vast, spanning at least five critical commodities.” While global mining M&A activity has surged recently, driven by strong cash flows and the demand for green energy metals, Barton… Read More Here

International Economy

Kristalina Georgieva Reappointed as IMF Managing Director for Second Term

October 4, 2024October 4, 2024 Constance

Kristalina Georgieva has been reappointed as Managing Director of the International Monetary Fund (IMF), beginning her second five-year term on October 1, 2024. The IMF’s Executive Board confirmed the decision on April 12, 2024, citing her influential leadership since taking on the role on October 1, 2019. Georgieva brings a deep well of experience, having previously served as CEO of the World Bank from January 2017 to September 2019, including a three-month stint as Interim President. Her distinguished career spans senior roles in the European Commission, where she served as… Read More Here

Copper International

BHP Predicts Copper Demand to Surge by 1 Million Tonnes Annually Amid Energy Transition

October 3, 2024 Constance

Global mining giant BHP released a report on September 30, highlighting that the global energy transition will drive copper demand up by an additional one million tonnes per year through 2035. The shift towards copper-intensive technologies, particularly in renewable energy and electric vehicles (EVs), has already doubled global copper production rates. In its report titled BHP Insights: How Copper Will Shape Our Future, the company noted that global copper demand has grown at a 3.1% compound annual growth rate (CAGR) over the past 75 years. Although this growth slowed to… Read More Here

International Gold

Barrick and Mali Reach Agreement to Settle Disputes

October 3, 2024October 3, 2024 Constance

Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) and the government of Mali have agreed to find a global resolution to the existing claims and disputes between the government and Barrick’s Loulo and Gounkoto gold mining companies. Details of the agreement, based in essence on Barrick’s original proposals, will be made public once the terms of the settlement have been finalized. Barrick president and chief executive Mark Bristow said the company’s mutually beneficial relationship with Malian governments had endured for 30 years and occasional differences with successive regimes had always been amicably resolved. “The… Read More Here

International Equipment & Technology

Fortescue and Liebherr Secure Orders for 100 Battery-Powered Mining Trucks

September 29, 2024September 29, 2024 Constance

Australian miner Fortescue Metals Group and German-Swiss manufacturer Liebherr have secured orders for 100 autonomous battery-powered mining trucks, as part of their initiative to reduce carbon emissions. Fortescue’s executive chairman, Andrew Forrest, revealed the trucks were developed to support the company’s goal of achieving net-zero emissions by 2030. Fortescue and Liebherr teamed up in 2022 to create electric versions of the T 264 truck, with expressions of interest for hundreds more vehicles already received. The 240-tonne trucks, although more expensive than diesel models, offer greater reliability and productivity. The two… Read More Here

Press Release International Mining Personality

Trafigura Appoints Richard Holtum as New CEO, Effective January 2025

September 29, 2024September 29, 2024 Constance

Trafigura Group Pte Ltd (“Trafigura”) has announced that Richard Holtum will become Chief Executive Officer (CEO) of Trafigura, effective 1 January 2025 and will join the Trafigura Board of Directors from 1 October 2024. Jeremy Weir, Executive Chairman and CEO, will step down from his executive responsibilities on 1 January 2025 and will become Chairman of the Trafigura Group. Sipko Schat, Independent Non-Executive Director of the Board, said: “The Board of Directors unanimously selected Richard Holtum to lead the Trafigura Group. Richard has achieved extensive success in developing high-performing teams and… Read More Here

International Copper

Panama eyes export of First Quantum’s stockpiled copper

September 28, 2024September 28, 2024 Constance

Panama’s finance chief sees no good reason why First Quantum Minerals Ltd. shouldn’t export the large volume of copper stockpiled at its shuttered mine in the country. The government is working with a third party on an environmental assessment to quantify the amount of copper concentrate stored at the mine and determine when it was extracted, Finance Minister Felipe Chapman said Friday. “The copper cannot lie sitting there forever. It has to be taken out, and if you are going to take it out, you might as well export it,”… Read More Here

International Battery Metals Copper

Rio Tinto chairman warns mining deals won’t solve supply crisis

September 26, 2024September 26, 2024 Constance

The world needs more mines to cope with rising demand for key energy-transition metals like copper, as mergers and acquisitions will not plug a looming supply gap, Rio Tinto group chairman Dominic Barton said. “As an industry, we’re not going to inorganic our way out of this challenge,” Barton said in a Bloomberg TV interview, referring to growth through deals. “It’s huge, and it’s in at least five different commodity areas.” Global mining M&A has ramped up over recent months, as healthy cash flows and the outlook for key green… Read More Here