Lithium - Copperbelt Katanga Mining

DRC's Manono Lithium Project Shows Strong PEA with $764M NPV and 87.4% IRR 1

Tantalex Lithium’s Manono lithium tailings project in the Democratic Republic of Congo reveals a strong pre-tax NPV of approximately $764 million at a 10% discount rate and an 87.4% IRR on a nominal basis. The PEA also shows a pre-tax NPV of about $638-million and an 82.3% IRR on a real basis. It indicates a rapid payback of one year after first production using a life-of-mine (LoM) spodumene concentrate price of $2 800/t, as forecast by international price reporting agency Fast markets. This project capital cost estimate is $147.7-million including… Read More Here

EU Nurtures Partnerships with DRC and Zambia to Secure Critical Materials

September 28, 2023September 28, 2023 Constance

The European Union (EU) is working on partnerships with the Democratic Republic of Congo (DRC) and Zambia to strengthen local industries in the face of growing competition with China for essential resources in the green and digital sectors. A forthcoming memorandum of understanding will signify the EU’s support for cultivating local value chains, especially since a significant portion of critical material processing, such as lithium and cobalt, currently occurs in China. The EU’s objective is to diversify the suppliers of crucial resources and counter China’s substantial infrastructure investments in regions… Read More Here

Mining in Zambia Battery Metals Lithium

Zambia Revenue Authority Seizes Truck Carrying Lithium in Anti-Smuggling Operation

September 20, 2023September 24, 2023 Constance

The Zambia Revenue Authority (ZRA) has taken action to intercept and seize a truck attempting to smuggle one of Zambia’s strategic minerals, Lithium, at the Kazungula One Stop Border Post (OSBP). This operation was conducted in cooperation with the Ministry of Mines and Minerals Development as part of ongoing efforts to combat illicit mineral exports. The incident unfolded when ZRA officials, working alongside Ministry of Mines and Minerals Development personnel, initiated an investigation into a group of exporters suspected of misclassifying valuable mineral products for export. Acting on a tip-off,… Read More Here

Mining in DRC Battery Metals Cobalt Copper Lithium

EU Commissioner Reassures Investment in DRC’s Critical Minerals

September 15, 2023September 15, 2023 Constance

During a meeting in Lubumbashi, Didier Reynders, the European Union Commissioner for Justice, conveyed strong support from European economic operators for investing in the development of critical minerals in the southeastern region of the DRC, as well as emphasizing the importance of addressing the social aspects of mining. Reynders explained, “The goal is to establish strategic partnerships in the mining sector for critical minerals, enabling European operators to actively engage in enhancing the social aspects of mining exploitation. We are committed to increasing the value of work in the mining… Read More Here

Mining in DRC Battery Metals Cobalt Lithium Partnership

Glencore Strikes Strategic Agreement with Tantalex

September 15, 2023September 15, 2023 Constance

The Canadian company Tantalex Lithium Resources operating in the Democratic Republic of Congo (DRC) and Glencore concluded a memorandum of understanding at the end of last week according to which Glencore will have to partly finance the development of its lithium residue project in Manono. Under the terms of the memorandum of understanding, Glencore must obtain, in exchange for financing, the right to purchase and market the lithium that will be produced at Manono. And the funding itself will be divided into three tranches. A first of 2 million USD and… Read More Here

Copper Cobalt International Lithium Mining in DRC

US and Saudi Arabia Discuss African Metal Deals

September 10, 2023September 10, 2023 Constance

The United States and Saudi Arabia are reportedly in discussions to secure vital metals from African sources as part of their energy transition efforts, according to sources cited by the Wall Street Journal. A Saudi state-backed venture is exploring the acquisition of mining stakes valued at $15 billion in African nations like the Democratic Republic of Congo, Guinea, and Namibia. This arrangement would grant US companies the option to purchase a portion of the production. This development comes as the US races to compete with China for access to cobalt,… Read More Here

Mining in DRC Battery Metals Lithium

Glencore Boosts DRC Presence in Ambitious Lithium Expansion Move

September 10, 2023September 10, 2023 Constance

Glencore plans to increase its exposure to the Democratic Republic of Congo to source metals vital to electric car batteries, as the commodity trading giant seeks to expand in the rapidly growing market. Glencore is making its first-ever investment in a lithium mine in the central African nation after agreeing a deal with Tantalex, a Toronto-listed group exploring for lithium in the DRC. The deal will see London-listed Glencore provide up to $55mn to Tantalex in three stages, in return for getting the rights to sell lithium from Tantalex’s Manono tailings project… Read More Here

Mining in DRC Lithium Mining Personality

AVZ Minerals Shareholders to Appoint New Directors in Bid to Restore Trust

September 10, 2023September 10, 2023 Constance

AVZ Minerals shareholders are set to convene at a General Meeting on November 23 to appoint three directors, with the primary objective of rebuilding trust with the Congolese Government and all stakeholders involved in the “Manono lithium” project. The relationship between AVZ and government entities in the Democratic Republic of Congo (DRC) has soured significantly, six years after the Australian company, via its subsidiary AVZ INTERNATIONAL PTY LTD, acquired approximately 60% of the shares in “DATHCOM MINING.” This project aimed to raise funds for feasibility studies before the exploitation phase… Read More Here

Lithium Battery Metals Copper Gold Mining in DRC

Will Africa and the DRC Turn the Lithium Rush into a Development Opportunity?

September 8, 2023September 8, 2023 Constance

Africa holds 30-75% of the world’s reserves of lithium, phosphate, copper, chrome, manganese, gold, platinum, diamonds, and aluminum. Some of these minerals, such as lithium, are essential for what is known as the energy transition, the shift from an economy based on gas and oil to one based on renewable sources. Zimbabwe possesses the largest lithium reserves in Africa, which are also the fifth-largest in the world. In 2018, Zimbabwe and Namibia were among the top ten global lithium producers. Zimbabwe is expected to meet 20% of the global demand… Read More Here

International Lithium

Premier African Minerals Raises £4M for Zimbabwe’s Zulu Project Advancement

August 25, 2023August 25, 2023 Constance

Aim-listed Premier African Minerals has announced a placing and subscription to raise £4-milllion before expenses for the ongoing Zulu lithium and tantalum project pilot optimisation, in Zimbabwe, where the company is targeting revenue-generating production by November. In particular, Premier anticipates using the proceeds to meet the costs associated with the interim mill installation and associated thickener that is expected to collectively increase production to about 50% of design capacity from October; ongoing pit development to clear the weathered zone; and general operational costs to cover the current interim period until the end of November. “Based… Read More Here