Mining Projects - Copperbelt Katanga Mining

Sandfire Successfully Commissions New Filter Press at Motheo Copper Mine

July 24, 2024July 24, 2024 Constance

Sandfire has successfully commissioned a new permanent filter press at the Motheo Copper Mine in Botswana. During the initial ramp-up of the Motheo process plant in the September Quarter of 2023, the original equipment manufacturer (OEM) filter press installed during construction failed to meet design parameters. In response, an interim solution using mobile filter units was implemented, enabling the safe ramp-up of copper concentrate production at planned rates and specifications. An $8 million capital investment secured the procurement, installation, and commissioning of a Larox filter press to support the long-term… Read More Here

Gold International Mining Projects

AngloGold Ashanti and European Investor Back G2 Goldfields’ Capital Raise for Oko Project

July 21, 2024July 21, 2024 Constance

Gold mining major AngloGold Ashanti and a new European investor have supported Canadian junior G2 Goldfields’ latest capital raise for its Oko project in Guyana. The TSX-V-listed exploration company announced a non-brokered private placement of 28.97 million shares at C$1.45 per share, yielding gross proceeds of C$42 million. A single European investor has agreed to purchase 20 million shares, while AngloGold Ashanti will acquire the remaining shares. Upon closing, AngloGold will hold approximately 15% of G2’s common shares, up from its current 12.8%. The offering is expected to close in… Read More Here

Gold Copper Mining Projects

Montage Gold Seeks $131.6 Million to Accelerate Koné Gold Project in Ivory Coast

July 21, 2024July 21, 2024 Constance

Montage Gold, a Canadian company controlling 90% of the Koné gold deposit in Ivory Coast, announced on July 16 its intention to raise $131.6 million to fast-track the development of its largest Ivorian mining asset. The company aims to close the funding round by August 12. Zijin Mining Group, active in copper mining in the Democratic Republic of Congo (DRC), has pledged $41 million, while the Swedish Lundin Family Trusts will contribute $31.4 million. The Koné project is projected to commence production in 2027. “We are thrilled to welcome Zijin… Read More Here

Mining in Zambia Mining Projects Uranium

GoviEx Uranium Shifts Focus to Zambia Amid Niger Setback

July 21, 2024July 21, 2024 Constance

TSX-V-listed GoviEx Uranium has announced its intention to fight for its rights at the Madaouela project in Niger while redirecting efforts towards its Muntanga project in Zambia. Nearly two weeks ago, the Nigerien government informed GoviEx that it no longer holds rights over the mining permit perimeter for its Madaouela project, which has reverted to the public domain. “This decision came despite our very best efforts spanning almost two decades, transforming Madaouela from an exploratory venture into one of the world’s largest-known uranium deposits. Since acquiring our license, we have… Read More Here

Mining in DRC Copper Mining Projects

Ivanhoe Mines Reports Q2 2024 Production Results for the Kamoa-Kakula Copper Complex

July 12, 2024July 12, 2024 Constance

Kamoa-Kakula produced 100,812 tonnes of copper in concentrate in Q2 2024 First concentrate from the Phase 3 concentrator achieved on June 10, 2024, ramp up to steady state expected in Q3 2024 DRC power grid infrastructure upgrades continue, as well as phased roll-out of on-site, backup generation capacity Ivanhoe Mines to issue Q2 2024 financial results and host conference call for investors on July 31 Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) Executive Co-Chair Robert Friedland and President Marna Cloete announced today that the Kamoa-Kakula Copper Complex in the Democratic Republic… Read More Here

Mining in Zambia Copper Economy Mining Projects

A.I. Technology Uncovers Vast Copper Deposit in Zambia

July 11, 2024July 11, 2024 Constance

Last year in California, data scientists peered into their screens and witnessed a remarkable revelation: a massive copper deposit deep in Zambia’s bedrock. This discovery, driven by years of A.I.-based research, marks a significant milestone for KoBold Metals. On Thursday, KoBold announced this potentially largest copper discovery in over a decade. Estimates reviewed by The New York Times suggest the mine could produce at least 300,000 tons of copper annually, translating to billions of dollars over decades. An independent third-party assessment largely confirmed the size of the deposit. KoBold anticipates… Read More Here

International Cobalt Copper Mining Projects

Zijin Mining Projects Up to 50% Surge in First-Half Net Profit

July 9, 2024July 9, 2024 Constance

BEIJING – China’s largest gold and copper producer, Zijin Mining, anticipates a first-half net profit increase of up to 50%, the company announced in a trading statement on Monday. Zijin Mining’s net profit for the first half of the year could reach as high as 15.5 billion yuan ($2.13 billion), a 50% year-on-year increase, driven by higher output. The company expects gold output to rise by 9.6% to 35.4 metric tons, copper output to increase by 5.3% to 518,000 tons, and silver output to grow by 1.3% to 210.3 tons.… Read More Here

International Mining Projects Uranium

GoviEx Shares Plunge as Niger Revokes Madaouela Uranium Mining Permit

July 7, 2024July 7, 2024 Constance

Shares in GoviEx fell by 29% last week after the company announced that Niger had withdrawn the mining permit for its Madaouela uranium property. “GoviEx Uranium has been informed by the Government of the Republic of Niger, via a letter from the Minister of Mines, that it no longer has rights over the perimeter of the Madaouela mining permit, which is now in the public domain,” the company stated. This development is a significant blow to GoviEx, which has been developing Madaouela since 2007. GoviEx CEO Daniel Major, who has… Read More Here

Mining in DRC Copper Infrastructural Development Mining Projects Press Release

Ivanhoe Mines Completes Construction of Kipushi Concentrator Ahead of Schedule

July 5, 2024July 7, 2024 Constance

First ore to Kipushi concentrator achieved on May 31; first concentrate produced on June 14 Kipushi sets 2024 production guidance at between 100,000 and 140,000 tonnes of zinc in concentrate Kipushi zinc production capacity to average 278,000 tonnes per annum over first five years, making Kipushi the fourth-largest zinc mine globally Basic engineering underway to increase processing capacity of concentrator by 20% to 960,000 tonnes per annum Off-take agreements signed with CITIC Metal and Trafigura, plus $170 million in financing facilities agreed Kipushi reconfirmed as the world’s lowest carbon-emission intensive… Read More Here

Mining in DRC Copper Mining Projects

Gecamines Assumes Control of Copper Sales from Joint Ventures to Enhance Oversight of the Metal

July 3, 2024July 3, 2024 Constance

The Democratic Republic of Congo’s state miner, Gecamines, has begun selling its share of copper from joint-venture projects for the first time as the country seeks greater control over a metal crucial to the energy transition. Gecamines holds minority stakes in large mines operated by companies such as China’s CMOC Group and Glencore Plc. Until now, the joint ventures themselves have sold all the production. However, the state company is now taking a more active role in marketing its portion, totaling hundreds of thousands of tons a year, according to… Read More Here