International - Copperbelt Katanga Mining

Illegal mining soars near First Quantum’s idled Panama mine

August 14, 2024August 14, 2024 Constance

Illegal mining near First Quantum Minerals Ltd.’s Cobre Panama copper mine has soared since the facility suspended operations last year, an industry group warns. More than 250 instances of illegal mining have been identified in the rainforest surrounding Cobre Panama this year, according to Zorel Morales, head of the nation’s mining chamber. That’s a 317% increase from 60 instances in 2023. The illegal miners, Morales said, are mostly searching for gold. Morales and his trade organization, which includes First Quantum, are pushing for a quick resolution on Cobre Panama’s future.… Read More Here

International Copper

Peru’s Copper Production Drops 11.7% in June Amid Ongoing Industry Challenges

August 14, 2024August 14, 2024 Constance

Copper production in Peru fell by 11.7% year-on-year in June, reaching 213,578 metric tons, according to the country’s energy and mines ministry. For the first half of 2021, total production amounted to 1.29 million tons, reflecting a 2.1% decline compared to the same period last year. Peru, which has slipped to the third-largest copper producer globally after being overtaken by the Democratic Republic of Congo, is projected to produce 3.00 million tons of copper this year, up from 2.76 million tons in 2020, according to the ministry. The Peruvian government… Read More Here

International Copper Mining safety

Jiangxi Copper’s subsidiary halts production after fatal accident

August 14, 2024August 14, 2024 Constance

Jiangxi Copper’s subsidiary has suspended its plant in Shandong province after a fatal copper furnace accident, according to a company statement on Monday. Shandong Humon Smelting, controlled by top copper producer Jiangxi Copper, said three workers were killed and fourteen were injured. There was an unexpected spill from the plant’s side-blown copper furnace, the company said, without giving the date of incident. Production has been halted amid an ongoing investigation, the gold-copper producer said. Humon produced 203,023 metric tons of copper last year, according to its annual report. Jiangxi Copper… Read More Here

International Copper Gold

Barrick Gold Expresses Interest in Cobre Panama as Future Partner Amid Ongoing Disputes

August 14, 2024August 14, 2024 Constance

Barrick Gold (NYSE: GOLD) is prepared to step in as a partner in the Cobre Panama copper mine once the Panamanian government resolves the ongoing dispute over the asset, CEO Mark Bristow stated on Monday. The mine, currently owned by First Quantum Minerals, has been embroiled in controversy since November, leading to its closure following widespread protests. The new administration under President Jose Raul Mulino, in power since July, has announced that a decision regarding the mine’s future—which contributes 1% of global copper output and 5% of Panama’s GDP—will be… Read More Here

International Gold

Caledonia Mining on Track to Meet 2024 Gold Production Goals

August 12, 2024August 12, 2024 Constance

Caledonia Mining, listed on the AIM, has announced it is on course to meet its full-year production target of 74,000 to 78,000 ounces at its Blanket gold mine in Zimbabwe. In the quarter ending June 30, the mine produced 20,773 ounces of gold, a significant increase from the 17,436 ounces produced in the same period in 2023. The on-mine cost for the quarter was reduced to $906 per ounce, down from $915 per ounce in the previous year. Caledonia reported gross revenues of $50.1 million for the quarter, up from… Read More Here

International Gold

B2Gold Lowers 2024 Production Forecast Amid Fekola Mine Delays

August 12, 2024August 12, 2024 Constance

B2Gold, a Canada-based precious metals miner, has revised its 2024 production guidance downwards due to lower-than-expected output from its Fekola mine in Mali. The company now forecasts total production between 800,000 and 870,000 ounces for the year, including 20,000 ounces from the recently sold Calibre Mining. This is a reduction from the previous range of 860,000 to 940,000 ounces, which had included 40,000 to 50,000 ounces from Calibre before its sale in June. The drop in Fekola’s output—expected to be around 50,000 ounces less for the full year—stems from delays… Read More Here

International Gold

Ghana Unveils First Gold Refinery to Curb Smuggling and Add Value

August 10, 2024August 10, 2024 Constance

The Royal Ghana Gold Refinery, which will process 400 kilograms of gold daily, primarily sources raw materials from artisanal and small-scale mines. These mines contribute about one-third of Ghana’s annual gold output of roughly 4 million ounces, according to Bloomberg. Bank of Ghana Governor Ernest Addison stated that the refinery will play a crucial role in curbing gold smuggling, a persistent issue in the country, by providing a ready market for artisanal and small-scale miners. “This refinery can mitigate the incentive for smuggling and help promote transparency and accountability in… Read More Here

International Copper Gold

BHP Plans to Sell Brazilian Copper and Gold Assets Acquired from Oz Minerals

August 9, 2024August 9, 2024 Constance

BHP Group, the world’s largest miner, is planning to sell the Brazilian copper and gold assets it acquired through its $6.3 billion takeover of Oz Minerals in May 2023, according to sources familiar with the matter. The company has enlisted Banco Santander SA to advise on a potential sale following a strategic review of these assets. This acquisition was BHP’s largest in over a decade and was aimed at increasing the company’s exposure to critical materials used in clean energy and electric vehicles. However, BHP has no plans to divest… Read More Here

International Lithium Uranium

Namibia Tightens Mining License Approvals Amid Underperformance

August 8, 2024August 8, 2024 Constance

Namibia has announced that less than half of its approved mining projects are currently operational, leading the government to adopt a stricter approach to issuing permits. Of the 162 mining licenses approved by the country, only 68 are active, according to Mines and Energy Minister Tom Alweendo, who spoke at a conference in Windhoek on Wednesday. As the world’s third-largest uranium producer and a nation rich in lithium and rare earth minerals like dysprosium and terbium, Namibia is seeking to better manage its resources to benefit its citizens. The government… Read More Here

Copper International

BHP’s Spence copper mine in Chile now fully autonomous

August 4, 2024August 4, 2024 Constance

BHP’s (ASX, NYSE: BHP) Spence copper mine in Chile has celebrated three months of being the company’s first fully autonomous operation, a status reached in April after a two-year journey that included converting its trucks fleet and drilling rigs. Spence, which produced 249,000 tonnes of copper last year, is BHP’s second largest copper mine behind Escondida, the world’s biggest copper operation. In the three months to July 29, the copper operation has moved 80 million tonnes of material without any safety incidents, surpassing the production plan to date, BHP said.… Read More Here