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Category: Mining Companies

DRC: Gécamines has suspended its legal action against China Molybdenum 1 Copper Cobalt Mining Companies Mining in DRC 

DRC: Gécamines has suspended its legal action against China Molybdenum

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Congolese state mining company Gécamines has suspended its legal action against China Molybdenum, which was stripped of control of its giant Tenke Fungurume copper and cobalt mine in the country last month, as authorities seek a solution to a dispute between the companies. The Congolese government announced in August that it had formed a commission to re-evaluate the mine’s reserves and resources in order to “fairly claim (its) rights”. Several Gécamines officials have been named to the commission as the DRC claims it owes it billions of dollars. In February, a… Read More Here
Tharisa acquires Karo platinum project in Zimbabwe 2 Mining Companies 

Tharisa acquires Karo platinum project in Zimbabwe

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Platinum producer Tharisa Plc has acquired a controlling stake in a platinum group metals (PGMs) project in Zimbabwe which will eventually double its output, it said on Thursday. Tharisa exercised an option to increase its stake in Karo Mining Holdings Limited from 26.8% to 66.3% in an all-share deal valued at $27 million. The Karo project, expected to start producing in two years, will produce 150,000 ounces a year of PGMs in concentrate in its first phase, the company said. Prices of PGMs including platinum and palladium have surged since Russia’s invasion… Read More Here
China Moly wants third party to resolve Congo mine dispute 3 Copper Cobalt Mining Companies Mining in DRC 

China Moly wants third party to resolve Congo mine dispute

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China Molybdenum Co. endorsed the involvement of an independent third-party to resolve its dispute with Democratic Republic of Congo over new royalty payments for its massive Tenke copper and cobalt mine, according to a statement posted on the company’s website Wednesday. Congo announced Tuesday that state-owned miner Gecamines would suspend its court case against China Moly’s Tenke Fungurume Mining SA while the two sides try to negotiate a deal. Last month, a Congolese court appointed a temporary administrator to run the mine after Gecamines accused China Moly of refusing to share technical information about… Read More Here
First Quantum Minerals clarifies reports on KCM and Mopani 4 Copper Mining Companies Mining in Zambia 

First Quantum Minerals clarifies reports on KCM and Mopani

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First Quantum Minerals has reiterated its commitment to invest further in Zambia’s mining sector, but has clarified that it has no plans to acquire Mopani Copper Mines (MCM) nor Konkola Copper Mines (KCM), contrary to media reports. The company has pledged to support government’s drive towards growing the nation’s copper production, and is working towards investing in its S3 expansion project at Kansanshi mine in Solwezi which will increase production output and prolong the life of mine. In addition, preparatory works are also underway for the company’s Enterprise nickel production… Read More Here
Barrick Expands Global Footprint in Hunt for High-Quality Assets 5 International Gold Mining Companies 

Barrick Expands Global Footprint in Hunt for High-Quality Assets

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Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) is continuing to invest in its future through the development of capital projects that will expand and enhance an operating platform which already holds some of the industry’s best assets, says president and chief executive Mark Bristow. Writing in the company’s  2021 annual report published today, Bristow says that, while building on this value foundation, Barrick was also expanding its presence into new prospective areas in its hunt for high-quality assets. “A specialist Asia-Pacific team, set up to look at opportunities in that region, has acquired… Read More Here
DRC: SICOMINES SA applies the rules established for the Environment 6 Mining in DRC Mining Companies 

DRC: SICOMINES SA applies the rules established for the Environment

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The Sino-Congolese Mining Company (SICOMINES SA) is truly at the forefront of both in terms of mining.  The slayers of the flagship of Sino-Congolese cooperation thought they were hitting hard by looking for the little beast on the side of the Environment. Because in the management of human resources, just like in the techniques of production, they did not find faults. The latest attacks from a NGO HR declaring itself specialized in the protection of the exploitation of natural resources.  Already, it indicates in a document published under the title “LA… Read More Here
DRC: Alphamin Resources needs capital of USD 116 million to develop its Mpama Sud tin project 7 Mining in DRC Mining Companies Tin 

DRC: Alphamin Resources needs capital of USD 116 million to develop its Mpama Sud tin project

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According to the results of the preliminary economic assessment (PEA) of mining company Alphamin Resources’ Mpama Sud tin project in the Democratic Republic of Congo (DRC), the company will need at least US$116 million to develop this project. This was revealed by the mining company on Monday, March 7, 2022, when publishing the results of the PEA of the said project. The same results also indicated that the deposit hosts sufficient resources to support an annual contained tin production of 7,000 tonnes. Indeed, Alphamin already produces tin in the DRC… Read More Here
DRC: African Energy Metals lands major interests following an agreement reached with WCM in a mining project in Manono 8 Mining in DRC Cobalt Mining Companies 

DRC: African Energy Metals lands major interests following an agreement reached with WCM in a mining project in Manono

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The mining junior African Energy Metals, a company based in Vancouver and listed on the TSXV in Canada, announced that it had reached an agreement with Whiskey Cobalt Mining (WCM) which sells to it, subject to positive due diligence and obtaining regulatory approvals, its interests in a mining concession located in Manono, province of Tanganyka in the DRC. According to inside sources, the transaction in question gives African Energy Metals the possibility of creating a 50-50 joint venture with the local company Liberty Mining and Investments Sarl. In return, it will… Read More Here
Glencore reviewing stakes in two Russian companies 9 Mining Companies International 

Glencore reviewing stakes in two Russian companies

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Glencore Plc, the world’s biggest commodity trader, followed some of the world’s largest companies in reviewing its business ties with Russia as the fallout from the invasion of Ukraine intensifies across global commodities markets.  While Glencore stopped short of exiting its investments, the company said it was reviewing its shareholdings in two of Russia’s biggest companies as well as its wider trading operations in the country. It’s a dramatic turn for a company that has long been comfortable operating in the most difficult jurisdictions and whose former chief executive officer… Read More Here
Impala stalls Zimbabwe platinum approach over ownership concern 10 Mining Companies 

Impala stalls Zimbabwe platinum approach over ownership concern

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Zimbabwe’s plan to develop one of the world’s biggest platinum mines stalled after Impala Platinum Holdings Ltd. asked for greater transparency on the ownership of a state-run company before considering a joint venture. Impala, the third-largest producer of platinum group metals, was approached by Great Dyke Investments Ltd. which owns the Darwendale project, said two people familiar with the talks who asked not to be identified because they aren’t public. It wants more information about the government’s Kuvimba Mining House Ltd., which is 35% owned by private shareholders the state… Read More Here

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