New Mining Projects - Copperbelt Katanga Mining

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

January 3, 2025January 3, 2025 Constance

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

Mining in Zambia Electricity New Mining Projects

Jubilee Metals Faces Power Disruptions at Roan While Advancing Key Projects in Zambia

December 17, 2024December 17, 2024 Constance

Diversified metals processor Jubilee Metals, which operates in South Africa and Zambia, has reported significant disruptions at its Roan facilities in Zambia due to unplanned power outages. The blackouts have severely impacted production, with Roan operations being particularly vulnerable compared to the Sable refinery, which benefits from private electricity supply. In contrast, Jubilee’s Munkoyo and Project G mining operations remain unaffected and on schedule. The company is actively collaborating with Zambian authorities to manage the timing of outages and power restoration to reduce costs. However, the uncertainty surrounding Zambia’s national… Read More Here

International Lithium New Mining Projects

Zimbabwe to Seek 26% Stake in New Mining Projects

December 13, 2024December 13, 2024 Constance

Zimbabwe plans to acquire a 26% free-carry stake in all new mining projects and will also negotiate with existing operators to secure similar shares in established projects. Pfungwa Kunaka, Zimbabwe’s Secretary for Mines, told Bloomberg that the government aims for a 26% ownership in most major mining ventures. He added that these negotiations would involve discussions with investors already operating in the country. Kunaka did not disclose how the government would finance these acquisitions. However, the move aligns with the rising trend of resource nationalism across Africa, where nations are… Read More Here

International Gold New Mining Projects

Barrick Gold Increases Commitment to Pueblo Grande Project in Dominican Republic

December 7, 2024December 7, 2024 Constance

Precipitate Gold, a TSX-V-listed company, announced that Barrick Gold has amended their earn-in agreement for the Pueblo Grande project in the Dominican Republic, raising its total required work expenditures from $10 million to $22 million. This represents a 120% increase in Barrick’s financial commitment to the project, which is located next to Barrick’s Pueblo Viejo mine. As per the revised agreement, Barrick must now spend an additional $17 million to fulfill its earn-in obligations, which would grant it a 70% stake in the Pueblo Grande project. Since the original agreement… Read More Here

Mining in Zambia Copper Exploration New Mining Projects

Patriot Lithium Secures Major Stake in Zambia’s Kitumba Copper Exploration License

December 5, 2024December 5, 2024 Constance

Australian mining company Patriot Lithium has reached an agreement with Newlight Nominees Zambia to acquire a 90% stake in the Kitumba Copper Large Scale Exploration License. The 255 km² license is strategically situated near Sinomine’s newly inaugurated $600 million Kitumba Copper Mine, which boasts an annual production capacity of 50,000 tons. This proximity positions Patriot to capitalize on a region with established mining infrastructure and proven copper potential. Patriot Lithium paid an initial $25,000 signing fee and has a 12-month window to establish a Special Purpose Vehicle (SPV) to complete… Read More Here

Mining in Zambia New Mining Projects

Arc Minerals Receives $1 Million Payment from Anglo American for Zambian JV

November 28, 2024December 1, 2024 Constance

London-listed Arc Minerals has received a $1 million payment from Anglo American as part of their ongoing joint venture (JV) in Zambia. The payment is directed to Arc’s subsidiary, Unico Minerals, with Arc retaining 67% of the total amount received, while the remaining balance goes to another Unico shareholder. Earlier in November, Arc confirmed copper mineralisation at all drill targets on the jointly owned project, with priority targets now identified for further investigation. The JV covers Arc’s Zambian copper project, which spans 870 km² in the country’s North Western province.… Read More Here

International Gold New Mining Projects

Kavango Plans to Boost Gold Production at Zimbabwe’s Prospect 4

November 24, 2024November 24, 2024 Constance

London-listed Kavango Resources is focusing on increasing high-grade gold production at Prospect 4 within its Hillside project in Matabeleland, southern Zimbabwe. Currently, high-grade gold is being extracted by contract miners on a small scale at Prospect 4. The material is then trucked 20 km to Kavango’s processing facility at the main Hillside site. However, production is limited due to the mining methods, the long distance to the processing plant, and the facility’s capacity, which can only process 40-50 tons per day (t/d). Given the current low production volumes, Kavango sees… Read More Here

Mining in DRC New Mining Projects Zinc

Jean-Lucien Busa Highlights Strategic Impact of Kipushi Mine Revival in DRC

November 21, 2024November 21, 2024 Constance

During the inauguration of the Kipushi Company (KICO) zinc production plant in Kipushi, Haut-Katanga, Minister of Portfolio Jean-Lucien Busa underscored the project’s strategic importance to the Democratic Republic of Congo’s (DRC) economy. This partnership between state-owned Gécamines and Ivanhoe Mines positions the DRC as Africa’s top zinc producer and strengthens the government’s economic influence. “This initiative makes the DRC the leading zinc producer in Africa and boosts the State portfolio, enhancing its assets, capacities, and influence within the Congolese economy,” Minister Busa remarked. He praised President Félix Tshisekedi’s vision, reflected… Read More Here