Mining Companies - Copperbelt Katanga Mining

Codelco Launches Austerity Plan After Lower Production Forecasts

December 25, 2022December 25, 2022 Constance

Chile’s Codelco, the world’s largest copper producer, will launch an austerity plan intended to boost its earnings in the short and medium term and optimize production and investments through 2027, the company said on Friday. The state-owned miner cut its 2022/23 production goal in October, amid lower prices and poorer ore grades, and indicated its lower output levels would continue for a few years. The company estimated a 2022 copper output of between 1.435 million and 1.465 million tonnes, belowits previous forecast of between 1.49 million and 1.51 million tonnes.… Read More Here

Stable Policy Attracts Mining Investment In Zambia- First Quantum Minerals

December 24, 2022December 24, 2022 Constance

Zambia’s stable and consistent policies have sparked a resurgence in direct foreign investment, according to the nation’s largest mining company, First Quantum Minerals (FQM). “We’re now responding to the incentives, stability and consistency of policy. Mines can now seek capital whether it’s self-generated or from the wider international financial institutions,” said FQM’s Kansanshi Mining Corporate Affairs Manager Kyansenga Chitoshi, speaking on a panel of multi-industry representatives at a dissemination workshop on the key findings of the government’s 2022 Foreign Private Investment & Investor Perspective Survey. The survey is released by… Read More Here

Copper International Mining Companies

Panama & First Quantum Mull Fresh Talks On Copper Mine Next Week

December 23, 2022December 23, 2022 Constance

Panama’s government and First Quantum Minerals Ltd. are looking at the possibility of holding talks next week in a final effort to seek a tax agreement for a giant copper mine, according to people with knowledge of the situation. The two sides may sit down together as soon as Dec. 26, although a schedule for the talks hasn’t been confirmed, said the people, who asked not to be named because the matter is private. Another attempt to reach a deal would follow the government’s decision to begin the process of… Read More Here

Mining Companies International Mining Equipment

Komatsu To Expand Underground Mining Equipment Offering With GHH Acquisition

December 23, 2022December 23, 2022 Constance

Komatsu has entered into an agreement to acquire Gelsenkirchen, Germany-based GHH Group GmbH (GHH), in a deal that will see it significantly expand its underground mining equipment market share. Founded in the 1960s and currently part of the German-owned Schmidt Kranz Group, GHH offers a wide range of equipment focused on loaders (LHDs) and articulated dump trucks in the mid-seam mass mining, narrow-vein and low-profile market segments The company also supports customers with aftermarket parts and service support through the entire life of each machine. With this acquisition, Komatsu will… Read More Here

Mining Companies Copper International

Taseko & Mitsui Partner To Develop Florence Copper Project

December 22, 2022December 22, 2022 Constance

Taseko Mines (TSX: TKO) has partnered with Mitsui to develop the Florence copper project located in Arizona. Mitsui has committed an initial investment of $50 million for the construction of the commercial production facility. This initial investment will be in the form of a stream agreement on 2.67% of the copper produced at Florence. As part of the arrangement, Taseko and Mitsui have entered into an offtake contract for 81% of the copper cathode produced at Florence during the initial years of production. The parties intend to use this period to… Read More Here

Mining Companies Mining in DRC

Ivanhoe Mines Confirms Link To Congo Aide In Copper Corruption Case

December 22, 2022December 22, 2022 Constance

Ivanhoe Mines Ltd. confirmed a business relationship with a presidential aide who was arrested in a corruption case in Democratic Republic of Congo, where the firm controls one of the world’s biggest copper deposits. Ivanhoe struck a deal last year with Vidiye Tshimanga, a top aide to Congo’s President Felix Tshisekedi, the firm said in a statement on Dec. 14. He was arrested in September after a series of secretly-taped videos appeared to show him offering political protection for an unnamed mining deal in exchange for a stake in the… Read More Here

Mining Companies Lithium

ZIMBABWE MINERS FEDERATION APPLAUDS GOVT LITHIUM BAN

December 20, 2022December 20, 2022 Constance3 Comments

The Zimbabwe Miners Federation (ZME) has supported thethat the export of the ore has been prejudicing the government through loss of revenue which is detrimental to the country’s target of attaining the US$12 billion Mining industry by end of 2023.Rudairo MapurangaThe Zimbabwe Miners Federation (ZMF) through its President Ms Henrietta Rushwaya says that the export of raw lithium gave rise to leakages and serious job exports in the lithium subsector with other countries benefiting from jobs that could have been of native Zimbabweans.The ZMF said the ban on raw lithium… Read More Here

Mining Companies International

NEWCREST CEO LEAVES AUSTRALIA’S TOP GOLD MINER

December 20, 2022December 20, 2022 Constance

Newcrest Mining (ASX: NMC) announced on Monday that its chief executive officer Sandeep Biswas is retiring from the role effective immediately, after eight years at the helm of Australia’s top gold miner, but will stay on as an advisor until March 2023. Chief financial officer Sherry Duhe, who joined the company in February, will step in as interim chief executive while a global internal and external search for a replacement is underway. Chief operating officer for the Americas, Craig Jones, will also assume responsibility for all of Newcrest operations on an interim basis, Newcrest said.… Read More Here

International Mining Companies

Panama orders First Quantum to halt copper mine operations

December 20, 2022December 20, 2022 Constance

First Quantum Minerals must make a plan to halt work at its copper mine in Panama then go ahead with the scheme within two days of approval, the Central American country said after it and the Canadian company had failed to agree on boosting taxes from the project. The company has 10 days to present the plan for the Cobre Panama mine, which the government has said accounts for 3.5% of gross domestic product, according to a resolution of the Commerce and Industry Ministry published in Panama’s official gazette. However,… Read More Here

Mining in DRC Mining Companies News in Brief

YAKUTUMBA & BILOZE BISHAMBUKE GROUPS CONTINUE TO FIGHT FOR CONTROL OF MINING SITES

December 19, 2022December 19, 2022 Constance

The Yakutumba and Biloze Bishambuke groups continue to fight for control of mining sites, according to António Guterres’ latest report on the situation in the DRC. The link between this violence and the illegal exploitation of the mineral resources of this part has been the subject of particular interest of the international community. On December 8, the Council of the European Union added Alain Goetz to the list of people subject to restrictive measures because of the situation in the DRC. He is a businessman who is the beneficial owner and former… Read More Here