News in Brief - Copperbelt Katanga Mining

Sibanye-Stillwater to Begin Talks on Restructuring of Four Southern African PGM Shafts 1

Sibanye-Stillwater, a dual-listed company, is entering discussions with organized labor and other affected non-unionized employees and their representatives regarding the potential restructuring of four platinum group metal (PGM) shafts in its Southern African business. This restructuring and potential shaft closures may impact around 4,095 employees and contractors, including support services employees. While two of the shafts have already ceased production due to depleted ore reserves and economic viability, the other two require restructuring for sustainable production. Rising costs and falling PGM prices have challenged the profitability of the global PGM… Read More Here

Mining in Zambia Economy News in Brief

Tanzanian President Commends Zambia’s Economic Progress

October 25, 2023October 25, 2023 Constance

Tanzanian President Samia Suluhu Hassan has praised Zambia for its significant economic advancements achieved in the past two years under President Hakainde Hichilema’s leadership. President Samia emphasized the need for both countries to strengthen their diplomatic, business, and people-to-people relationships for mutual benefits. During a State banquet ahead of Zambia’s 59th Independence Day, President Samia highlighted the positive impact of shared economic corridors on fostering closer relations and business connections between the two nations. President Hichilema reaffirmed Zambia’s commitment to enhancing the partnership with Tanzania and continuing the legacy of… Read More Here

International Gold News in Brief

Barrick Declares Q2 Dividend

August 27, 2023August 27, 2023 Constance

Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) has announced the declaration of a dividend of $0.10 per share for the second quarter of 2023. The dividend is consistent with the Company’s Performance Dividend Policy announced at the start of 2022. The Q2 2023 dividend will be paid on September 15, 2023 to shareholders of record at the close of business on August 31, 2023. “As a result of the continuing overall strength of our business and balance sheet, we have maintained the distribution of a robust base dividend to our shareholders, while our… Read More Here

International Mining Equipment News in Brief

Sandvik wins SEK 460 million mining equipment order in Australia

July 11, 2023July 11, 2023 Constance

Sandvik has received a major order from a customer in Australia for the supply of underground mining equipment. The order includes Toro™ TH663i underground trucks, Toro™ LH517i and Toro™ LH621i underground loaders as well as a DD422i development drill rig with dual control. The order is valued at around SEK 460 million and was booked in the second quarter 2023. Delivery of the equipment is planned to begin in the third quarter 2023 and continue into the second quarter 2025. Read More Here

Transport and Logistics Angola News in Brief

Lobito Corridor to Generate Two Thousand Jobs in the Initial Phase

July 6, 2023July 6, 2023 Constance

Around two thousand jobs will be created along the Lobito Corridor when it is fully operational, according to Angola’s Minister of Transport, Ricardo D’Abreu. “On the one hand, there are direct jobs related to all those who will be directly involved in port and railway operations and indirect jobs via other sectors”, he stressed on Tuesday July 4th, in statements. For the consortium, he advanced, there is an obligation to invest in the order of US$450 million in the near future. Read More Here

Mining in DRC Copper News in Brief

The DRC nearly produced 600,000 tonnes of copper in the 1st quarter of 2023

July 4, 2023July 4, 2023 Constance

The mining industry in the Democratic Republic of Congo produced 595,142.92 tonnes of copper in the first quarter of 2023, according to the Ministry of Mines. Of the 595,142.92 tonnes of copper produced, mainly in the provinces of Haut-Katanga and Lualaba, 555,217.98 tonnes were exported from the Democratic Republic of Congo. Recall that in 2022, the Democratic Republic of the Congo produced more than 2.3 million tonnes of copper, which was a record production in the history of copper production in the DRC. Read More Here

Mining in DRC Cobalt Economy News in Brief

The DRC produced 21,170 tons of cobalt in the 1st quarter of 2023

July 4, 2023July 4, 2023 Constance

The Ministry of Mines says the Democratic Republic of Congo produced 21,170.43 tonnes of cobalt in the first quarter of 2023. According to data from the DRC Ministry of Mines, the entire volume produced in the first quarter of the year was exported abroad, 21,170.43 tons of cobalt. In the year 2022, the Democratic Republic of Congo had produced 115,371 tons of cobalt. Read More Here

Mining in DRC Mining in Zambia News in Brief Transport and Logistics

Presidents of Zambia and DRC meet in Benguela

July 4, 2023July 4, 2023 Constance

The Presidents of Zambia, Hakainde Hichilema, and of the Democratic Republic of Congo, Félix Tshisekedi, have already arrived in the city of Benguela to witness the signing ceremony of the Contract for the Transfer of the Concession of Railway Services and Support Logistics for the Lobito Corridor, which is scheduled to take place today, July 4th. According to the agenda, following their visit to the Benguela Railway, the statesmen will also receive explanations on the functioning of the port infrastructure. Read More Here

Mining in DRC News in Brief Transport and Logistics

DRC Unveils High-End Buses Built to Conquer Challenging Road Conditions

June 14, 2023June 14, 2023 Constance

The DRC will now have its own high-end, robust, and equipped buses to tackle road traffic conditions. This factory has a production capacity of 25 buses per month and meets the standards of the prestigious German brand, Mercedes Benz. The establishment of Suprême Motors is just a step that paves the way for other similar projects. It confirms that improving the business climate in the DRC is a reality acknowledged by foreign investors. Read More Here