New Mining Projects - Copperbelt Katanga Mining

Barrick Gold Seeks to Sell Stake in Zaldivar Copper Mine as Focus Shifts to Larger Projects 1

Barrick Gold is looking to divest its 50% stake in the Zaldivar copper mine in Chile, as the company shifts its focus to larger and more profitable operations, according to sources familiar with the matter. The company has enlisted advisors and approached potential buyers for its share in the mine, which is jointly owned with Antofagasta. The process is still in its early stages, and no deal is guaranteed, the sources said, speaking on the condition of anonymity. Although Barrick is keen to expand its copper portfolio in response to… Read More Here

International Corporate News Gold New Mining Projects

Barrick Gold Supports Pakistan-Saudi Deal for Stake in Reko Diq Mining Project

January 22, 2025January 22, 2025 Constance0 comment

Pakistan is still in negotiations with Saudi Arabia over the sale of a minority stake in the Reko Diq copper and gold mining project, controlled by Barrick Gold. Key details, including where the minerals will be processed, remain under discussion. The Pakistani government hopes the agreement will extend beyond exploration to involve some downstream activities within the country, according to Musadik Malik, Pakistan’s petroleum minister. Earlier, the Saudi government announced plans to acquire Pakistan’s minority stake in the Reko Diq project through Manara Minerals Investment Co., a Saudi firm backed… Read More Here

International Copper Gold New Mining Projects

Reko Diq Copper and Gold Project to Boost Pakistan’s Economy with $74 Billion in Cash Flow

January 20, 2025January 20, 2025 Constance0 comment

The Reko Diq copper and gold project in Pakistan is expected to generate approximately $74 billion in free cash flow over the next 37 years, according to Barrick Gold CEO Mark Bristow. The project, which Barrick co-owns with the governments of Pakistan and Balochistan, is considered one of the world’s largest underdeveloped copper-gold deposits, and its development is expected to have a significant positive impact on Pakistan’s struggling economy. Barrick holds a 50% stake in the mine, with the remaining ownership split between the federal and provincial governments of Pakistan.… Read More Here

Mining in DRC Battery Metals Lithium New Mining Projects

Zijin Mining to Begin Lithium Production in the DRC Amid Legal Disputes

January 9, 2025January 9, 2025 Constance0 comment

China’s Zijin Mining Group Co. is set to commence lithium production in the Democratic Republic of Congo (DRC) early next year, leveraging one of the world’s largest deposits of the battery metal. Zijin is ramping up development at the Manono project in southeastern Congo, despite an ongoing legal dispute with Australia’s AVZ Minerals Ltd. AVZ has initiated arbitration against the DRC government, claiming the project’s exploration license was unlawfully reassigned. The Manono project, slated to begin production in Q1 2026, will be the first operational lithium mine in Congo, a… Read More Here

Mining in Zambia Copper New Mining Projects

Zambia’s Nationwide Geological Mapping Survey Progresses

January 9, 2025January 12, 2025 Constance0 comment

On August 14, President Hakainde Hichilema launched Zambia’s first-ever high-resolution geological mapping survey to identify areas with untapped mineral deposits. This ambitious initiative is part of the government’s strategy to boost mineral exploration and achieve the goal of producing three million tons of copper annually by 2031. The survey, which employs advanced aerial geophysical technology, has already covered significant portions of the Western and North-Western provinces. Mines Permanent Secretary Hapenga Kabeta revealed that the survey divides the country into four zones, with Zone A focusing on these two regions. “Areas… Read More Here

Mining in Zambia Copper New Mining Projects

Lumwana’s Super Pit Expansion Officially Launched

January 8, 2025January 8, 2025 Constance0 comment

The development of a Super Pit at Barrick’s Lumwana copper mine was officially launched in October 2024 by the Zambian President, His Excellency Hakainde Hichilema, accompanied by members of his cabinet. Speaking at the groundbreaking ceremony also attended by the Barrick board of directors, Mark Bristow said a critical element of the Super Pit Expansion was its focus on creating a sustainable legacy through the development of local capacity within the region, which would benefit both local communities and businesses throughout the construction and operational phases. The expansion will need… Read More Here

Mining in Zambia New Mining Projects

ZEMA Approves $10 Billion Worth of Projects in 2024, Mining Leads the Way

January 4, 2025January 4, 2025 Constance0 comment

The Zambia Environmental Management Agency (ZEMA) has approved 1,325 projects in 2024, with a total investment value of $10 billion, marking a significant rise from the 1,129 projects worth $7 billion approved in 2023. In a statement issued on Friday, ZEMA Board Chairperson, Professor Lovejoy Malambo, revealed that mining projects led the approvals, accounting for 678 projects or 51% of the total. “The Environmental Assessment Committee of ZEMA’s 5th Board of Directors approved 108 development projects during its 27th ordinary meeting held on December 27, 2024,” Malambo said. The manufacturing… Read More Here

Exploration Copper Corporate News New Mining Projects

KoBold Metals Raises $537 Million to Accelerate AI-Driven Mineral Exploration

January 3, 2025January 3, 2025 Constance0 comment

KoBold Metals, a Berkeley-based mining and artificial intelligence (AI) start-up backed by Bill Gates and Jeff Bezos, has raised $537 million in its latest funding round. This Series C round values the company at $2.96 billion and was co-led by existing investor T. Rowe Price and Durable Capital Partners. Other participants included Gates’ Breakthrough Energy Ventures, Andreessen Horowitz, and new backers like StepStone. With total funding of $1 billion to date, KoBold is positioning itself as a leading competitor in the critical minerals sector, challenging China’s dominance. The company specializes… Read More Here

Mining in DRC Corporate News New Mining Projects

DRC President Announces $50 Million Investment to Revive MIBA Mining Company

December 28, 2024December 28, 2024 Constance

The President of the Democratic Republic of Congo (DRC), Félix Tshisekedi, has announced a $50 million investment to revive the struggling Bakwanga Mining Company (MIBA). The announcement was made on Thursday, December 26, 2024, during his visit to Mbuji-Mayi, the capital of Kasaï Oriental province, as part of his ongoing tour of the country’s provinces. Amidst a warm welcome from the local population, President Tshisekedi emphasized the importance of strict oversight in the use of these funds to ensure the revitalization of MIBA, which has faced decades of financial challenges.… Read More Here

Mining in Zambia Copper New Mining Projects

Midnight Sun Secures License Renewal for Solwezi Copper Project in Zambia

December 25, 2024December 25, 2024 Constance

Midnight Sun Mining Corp. (TSXV: MMA) announced Monday the renewal of the exploration license for Kazhiba, a key target area within its flagship 506-sq.-km Solwezi copper project in Zambia. The project is located just 10 km from the Kansanshi mine, Africa’s largest copper mining complex, operated by First Quantum Minerals (TSX: FM). Midnight Sun has an exploration agreement with First Quantum to develop the area. The Zambian government recently rectified an earlier error in rejecting the license renewal for Kazhiba. This resolution removes any doubts about the project’s future. “The… Read More Here