News in Brief - Copperbelt Katanga Mining

SADC Ministers Convene in Lobito to Discuss Agency's Organizational Framework 1

Members of the Committee of Ministers from the Southern African Development Community (SADC) are meeting today in Benguela to deliberate on the organizational structure of the Agency. This marks the second meeting of the group, held in the rail-port city of Lobito. The discussions aim to refine the framework and operations of the Agency, aligning it with SADC’s goals of regional cooperation and sustainable development. Lobito, renowned for its strategic position and infrastructure connecting inland regions to international markets, serves as a fitting venue for this important gathering. This meeting… Read More Here

Ivanhoe Mines Launches an Offering of US$600,000,000 Senior Notes Due 2030

January 12, 2025January 12, 2025 Constance0 comment

Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) announces that it has commenced an offering (the “Offering”) of an aggregate principal amount of US$600,000,000 senior notes due 2030 (the “Notes”). The Notes will be senior unsecured obligations of the company and will be guaranteed on a senior basis by certain of the company’s subsidiaries (the “Guarantors”). In connection with the Offering, the company entered into a US$120.0 million revolving credit facility agreement dated December 22, 2024, with, amongst others, the Guarantors and the lenders named therein. The gross proceeds from the Offering… Read More Here

Mining in DRC News in Brief Tin

Tin Price in the DRC Sees Modest Increase Amid Sustained Demand

January 4, 2025January 4, 2025 Constance0 comment

The price of tin, the Democratic Republic of Congo’s (DRC) main export mineral, has experienced a slight rise this week. According to the latest figures from the National Mercurial Commission of the Ministry of Foreign Trade, the price of tin reached $28,637.50 per ton for the week of January 6 to 11, 2025. This marks a modest increase of 0.13% compared to the previous week. While the rise is small, it reflects ongoing strong demand for this essential metal, widely used in industries such as electronics and metallurgy. Read More Here

International Corporate News News in Brief

Vedanta to exclude base metals business from sweeping demerger

December 22, 2024December 22, 2024 Constance

Indian miner Vedanta will not carve out a separate listed unit for its base metals business, it said last week, after discussing the matter with its stakeholders and lenders. Vedanta, led by billionaire Anil Agarwal, had last year launched a sweeping overhaul to carve itself up into six separate businesses, in a move aimed at shoring up the group’s financial performance. The company will consider the base metals business demerger at a later stage, it said in an exchange filing, adding that the share entitlement ratio for the demerger of… Read More Here

Mining in Zambia Copper Mine Safety News in Brief

Mopani Copper Mine Smelter to Shutdown for Maintenance Until February 2025

December 18, 2024December 18, 2024 Constance

The smelter at Mopani Copper Mine in Mufulira will remain out of operation until the end of February 2025 due to a breakdown of the Oxygen Plant at the facility. Mopani Copper Mines Chief Executive Officer, Charles Sakanya, confirmed that the smelter will be temporarily shut down to allow for necessary maintenance work. Sakanya assured that the mine will maintain communication with all stakeholders throughout the refurbishment process. The announcement was made in a statement issued by Mopani Public Relations Manager, Nebert Mulenga. SOURCE:znbc.co.zm Read More Here

Mining in DRC News in Brief Partnership

DRC and Indonesia to Sign Mining and Environmental Cooperation Agreement

December 15, 2024December 15, 2024 Constance

The governments of the Democratic Republic of Congo (DRC) and Indonesia are set to sign a cooperation agreement in the mining and environmental sectors in the coming days. This was confirmed following a videoconference on Saturday, December 14, 2024, between DRC President Félix Tshisekedi and his newly inaugurated Indonesian counterpart, Prabowo Subianto. During the exchange, President Subianto extended an official invitation to President Tshisekedi for a state visit to Indonesia in the near future, as announced on the DRC presidency’s X account. Indonesia, a recognized leader in the mining sector… Read More Here

Mining in Zambia Electricity News in Brief

Nationwide Power Outage Hits Zambia

November 25, 2024November 25, 2024 Constance

Zambia experienced a nationwide power outage on Sunday due to a “power system disturbance,” according to the state-owned utility company, Zesco. The incident occurred at approximately 18:15 GMT, resulting in a complete loss of power across the country. Zesco stated that efforts to address the unplanned outage were underway, with the restoration of power supply in progress. Further updates on the cause of the disturbance and the timeline for full restoration are expected. Read More Here

Gold Economy Mining in DRC News in Brief

Gold Price Drop Impacts DRC Mining Exports

November 24, 2024November 24, 2024 Constance

The price of gold, a key export for the Democratic Republic of Congo (DRC), has decreased by 2.93% on global markets. From November 18-23, 2024, the price per gram fell to USD 86.12, down from USD 88.72 the previous week, according to a press release from the Ministry of Foreign Trade. This decline is part of broader global fluctuations in raw material prices, particularly observed between November 11-16, 2024. Price volatility on international markets continues to challenge the DRC, where Read More Here

Mining in Zambia New Mining Projects News in Brief

Mufumbwe Residents in Zambia Celebrate Kalengwa Mine Reopening as Economic Game Changer

November 20, 2024November 20, 2024 Constance

Residents of Mufumbwe, North Western Province, have expressed their excitement over the reopening of Kalengwa Mine, calling it a transformative step for the district’s economic future. They believe the mine’s revival will create new business opportunities and generate employment, especially for young people in the area. READ MORE:President Hichilema Reopens Zambia’s Kalengwa Mine After 46 Years Speaking to ZNBC News, the residents thanked President Hakainde Hichilema for bringing development to Mufumbwe. The President is in North Western Province to reopen Kalengwa Mine, Kansenseli Gold Mine, and to commission the Kasajiko… Read More Here

Mining in DRC Economy Gold News in Brief

DRC Loses Billions to Gold Mining Fraud, Warns DRC Gold Trading

November 17, 2024November 17, 2024 Constance

The Democratic Republic of Congo (DRC) is facing significant financial losses in its mining sector due to widespread fraud. Joseph Kazibaziba, Managing Director of DRC Gold Trading SA, a company operating in the gold mining industry, revealed that “more than 50 tons of gold are fraudulently exported to the east coast of Congo, amounting to over 5 billion USD.” He acknowledged that one of the major challenges remains integrating the substantial quantity of gold extracted through artisanal methods back into the official economy. The causes of this fraud are numerous,… Read More Here