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Africa’s lithium supply to almost triple this year – Benchmark Mineral Intelligence 1 Lithium Battery Metals International 

Africa’s lithium supply to almost triple this year – Benchmark Mineral Intelligence

Constance
Lithium production from Africa is projected to almost triple in 2024 compared to the previous year, according to Benchmark Mineral Intelligence. Chinese companies hold a virtual monopoly on lithium extraction in Africa, with over 90% of the continent’s projected lithium supply for this decade stemming from projects partly owned by Chinese entities, as estimated by Benchmark. Most of the increased supply is expected to come from Zimbabwe. It is estimated that the country produced 3,400 tonnes in 2023, placing it among the seven largest producers globally. The country is home… Read More Here
China's Coal Consumption Expected to Drop by One-Third by 2040 2 International Coal 

China’s Coal Consumption Expected to Drop by One-Third by 2040

Constance
A recent report by European consultancy DNV has projected that China’s coal consumption will decrease by approximately one-third by 2040, posing a challenge to global climate targets aiming to phase out coal use by the same year. While the International Energy Agency emphasizes the necessity of eliminating global coal power capacity by 2040 to curb temperature rises within the 1.5-degree Celsius threshold, DNV’s findings diverge, indicating a minor increase in China’s coal consumption over the next two years followed by a gradual decline. Despite a significant surge in renewable energy… Read More Here
FQM cuts debt by over $1bn in first quarter 3 International Copper 

FQM cuts debt by over $1bn in first quarter

Constance
Canadian miner First Quantum Minerals said on Tuesday that it has cut its debt by $1.14 billion in the first quarter. The company in February had announced a series of capital restructuring measures that would strengthen its balance sheet and cut debt, a move that will help the Canadian miner deliver on its “operational objectives.” The company’s total debt as of March 31 stands at $5.99 billion, down from its previous debt of $7.38 billion. The copper miner reported a net loss attributable to shareholders of the company at $159… Read More Here
FQM says probability of taking out copper from Panama mine only after election 4 International Copper News in Brief 

FQM says probability of taking out copper from Panama mine only after election

Constance
Canadian miner First Quantum Minerals said on Wednesday the likelihood of taking out the 121,000 tonnes of copper from its disputed Cobre Panama mine can only happen after the Panama national election. First Quantum’s Cobre Panama is under preservation and safe maintenance after the current Panama government ordered the closure of the copper mine last year. Panama goes to polls in May this year. SOURCE:mining.com Read More Here
Sibanye-Stillwater targets $500m in gold streaming deals 5 International Gold 

Sibanye-Stillwater targets $500m in gold streaming deals

Constance
SIBANYE-Stillwater aimed to conclude a portion of an estimated $500m to $1bn in potential streaming or metals prepayment deals before it announced its half year results in August, said the group’s CEO Neal Froneman. “We don’t get any credit for our gold by-product from platinum group metals (PGMs) and it’s a good time to be negotiating because the gold price isn’t done yet,” said Froneman on the sidelines of the PGM Day conference in Johannesburg. “The beauty of selling by-product credits is that it’s not described as debt,” he said.… Read More Here
IMF Report: South Africa Emerges as Africa's Leading Economy in 2024 6 International Economy 

IMF Report: South Africa Emerges as Africa’s Leading Economy in 2024

Constance
In a shift of economic dynamics, South Africa is poised to take the lead in Africa’s economy for 2024, according to the latest economic projections from the International Monetary Fund (IMF) as of April 2024. Egypt, which held the top position in 2023, is expected to slip to second place this year, while Nigeria is projected to move from second to fourth position. Algeria is anticipated to ascend to the third spot on the economic podium, primarily fueled by the rise in hydrocarbon prices. The IMF forecasts Nigeria’s gross domestic… Read More Here
Ivanhoe Electric and Saudi Arabian Mining Company Ma’aden Complete First Full Quarter of Exploration Activities in Saudi Arabia 7 International Press Release 

Ivanhoe Electric and Saudi Arabian Mining Company Ma’aden Complete First Full Quarter of Exploration Activities in Saudi Arabia

Constance
Ivanhoe Electric and Saudi Arabian Mining Company Ma’aden Complete First Full Quarter of Exploration Activities in Saudi Arabia Initial 76 km2 Typhoon™ Survey on the Umm Ash Shalahib Exploration License Surrounding Ma’aden’s Al Amar Gold-Copper-Zinc Mine is Complete Computational Geosciences Rapidly Processed the Initial Typhoon™ Results and Identified Two High Priority Anomalies for Drill Testing Construction and Delivery of the First of Three New Generation Typhoon™ Units Ordered by the Joint Venture is Complete Next Stage Mapping and Sampling Commencing on Additional Joint Venture Lands in the Al Amar and Wadi… Read More Here
MMG releases 2024 First Quarter Production Report 8 International Press Release Zinc 

MMG releases 2024 First Quarter Production Report

Constance
MMG Limited (MMG, the Company) yesterday 23rd April released its First Quarter Production Report for the three months ended 31 March 2024, producing 67,129 tonnes of copper and 59,247 tonnes of zinc. This follows the completion of the acquisition of the Khoemacau mine for an effective Enterprise Value of US$ 1,875 million, last month. This important acquisition aligns to MMG’s vision of creating a leading international mining company for a low carbon future and will create meaningful long-term value for MMG shareholders. MMG Interim CEO Liangang Li, noted: “Total copper… Read More Here
Shortages key to copper's upward price trajectory to new peaks 9 International Copper 

Shortages key to copper’s upward price trajectory to new peaks

Constance
 Upward momentum that has propelled copper prices to within a whisker of the psychological $10,000 a metric ton mark is expected to be sustained by the appearance of shortages over the coming months. Copper prices have recently been bolstered by expectations of tight supplies and optimism about demand prospects from energy transition applications such as electric vehicles and new technology such as artificial intelligence and automation. A pick-up in manufacturing activity, particularly in top consumer China where surveys of purchasing managers have started to show expansion has also contributed to… Read More Here
Copper Nears $10,000 Amid Global Economic Recovery Optimism 10 International Copper 

Copper Nears $10,000 Amid Global Economic Recovery Optimism

Constance
Copper prices are approaching the $10,000 per ton mark following a strong April rally driven by expectations of a rebounding global economy and increased demand for industrial materials. In recent weeks, metals have experienced broad gains, with copper reaching a two-year high at the start of the week. Improvements in manufacturing activities, particularly in key economies like the US and China, have contributed to the positive sentiment surrounding metals. Additionally, persistent inflation concerns are renewing interest in commodities as investors seek assets that may act as hedges against rising prices.… Read More Here

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