News in Brief - Copperbelt Katanga Mining

Residents of Sinazongwe & Zimba In Dispute Over Lithium Discovery

January 19, 2023January 19, 2023 Constance

The revelation of Lithium deposits in Southern Province of Zambia has led to conflicts between the residents of Sinazongwe and Zimba Districts. The communities of both districts are claiming that the lithium falls under their territories, resulting in ongoing disputes. Benny Siamujansi, the representative of Senior Chief Mweemba, has requested that the Ministry of Local Development supply a map to resolve the disagreement, as he fears it could escalate. Recently, Paul Kabuswe, the Minister of Mines and Minerals, who visited the area, urged the residents to allow for a safe… Read More Here

Electricity Mining in Zambia News in Brief

LOADSHEDDING LIKELY TO EASE AS MAAMBA COLLIERIES STARTS FEEDING NATIONAL GRID

January 18, 2023January 22, 2023 Constance

Maamba Collieries Limited, as announced by the Minister of Energy, Peter Kapala, will resume normal operations starting today, January 18th, 2023 and will start supplying electricity to the national grid. Kapala says this follows an intervention by government to have the scheduled maintenance period reduced in order to help decrease load-shedding hours the country is currently experiencing. He explains that stabilization tests were done, with the generator now ready to be put into servicing the national grid. The 150 Mega Watts generator at Maamba Collieries Limited was removed from feeding… Read More Here

Copper International News in Brief

Copper Hits Six-month High at $8,711 Per Ton

January 16, 2023January 16, 2023 Constance

Copper prices have hit their highest point in six months, reaching $8,711 per ton on the London Metal Exchange as of January 9, 2023. This increase is attributed to market optimism following the reopening of China’s borders, as China is the largest consumer of copper. According to sources, mainland China’s sea and land routes to Hong Kong and the rest of the world have been closed for the past three years as a result of Beijing’s health policies implemented during the pandemic. Experts are uncertain about the potential impact on… Read More Here

News in Brief Mining Companies

First Quantum Minerals Ltd. Stock Rises, Outperforms Market

January 8, 2023January 9, 2023 Constance

Shares of First Quantum Minerals Ltd. inched 0.28% higher to C$28.49 Thursday,05.01.2023 in what proved to be an otherwise all-around poor trading session for the Canadian market, with the S&P/TSX Composite Index GSPTSE, +1.58% falling 0.42% to 19,506.84. First Quantum Minerals Ltd. closed C$16.89 below its 52-week high (C$45.38), which the company achieved on April 4th. Trading volume of 1.7 M shares remained below its 50-day average volume of 2.8 M. First Quantum Minerals Ltd. engages in the production, exploration and development of copper, nickel, gold, zinc and acid, and related activities. It operates… Read More Here

Gold News in Brief

Gold Rises To 1858 USD Per Ounce

January 5, 2023January 5, 2023 Constance

Gold extended its New Year’s rally to trade near a seven-month high on Wednesday, helped by a weaker US dollar and rising expectations of less aggressive interest rate hikes by the Federal Reserve. Spot gold was up 1.0% at $1,858.97 an ounce on Wednesday 04.01.2023 midday, its highest level since mid-June. US gold futures also gained 1.0% to $1,864.20 an ounce in New York. The US dollar index, meanwhile, fell 0.4%, making bullion cheaper for overseas investors. There is some optimism in the market ahead of the release of the Fed’s… Read More Here

Mining in DRC News in Brief

Specifications Of The Hauchin Metal Launch Mining Company Valued At 1.1 Million USD-DRC

January 4, 2023January 4, 2023 Constance

The Provincial Minister of Mines of Haut-Katanga, Georges Mawine, and the Chinese mining company Hauchin Metal Launch (HML) proceeded to the signature of a specification which provides for the payment of 1,100,000 USD in mining royalties for the benefit of the communities affected by its mining operations. Indeed, this sum concerns the communities of the commune of Panda and the Kakontwe district in Likasi. In this specification, the company Huachin Metal Leach plans to carry out several projects of community interest with visible impact in five (5) years.These include the… Read More Here

News in Brief International

Savannah Resources Extends Due Diligence For Mozambique Divestment

December 31, 2022December 31, 2022 Constance

Savannah Resources PLC has announced the extension of the due diligence period under its agreement to potentially divest its remaining interests in Mozambique. The company, in a brief stock market statement, said that the due diligence phase would now run until 27 January 2023. It previously announced the ‘Binding Heads of Agreement’ between its subsidiary AME EAST AFRICA LIMITED and MRG Metals Limited on 9 November 2022. The deal sees MRG acquire Mining Concession 9735C in Mozambique. Savannah noted that all other aspects of the proposed transaction remain unchanged and… Read More Here

Mining in DRC News in Brief

Gécamines Produced 4,114 Tonnes Of Copper & 18,844 tonnes Of Cobalt This Year-DRC

December 29, 2022December 29, 2022 Constance

From January to November 2022, Gécamines, a state holding company, produced 4,114 tonnes of copper and 18,844 tonnes of cobalt, according to figures provided by the Central Bank of Congo in its Digest of statistical information for the month. from December 2022. In both segments, we observe that Gécamines has increased its production volume compared to the same period in 2021 when this state-owned company produced 3,478 tonnes of copper and 13,971 tonnes of cobalt. Overall, from January to November 2022, mining companies operating in the Democratic Republic of Congo… Read More Here

Diamond Production Soar This Year, 16.6 Million Carats Produced In 11 Months-DRC

December 28, 2022December 28, 2022 Constance

The diamond operation claims an estimated production of 16.685 million carats of diamonds in the first 11 months of 2022, according to figures from the Central Bank of Congo. While for the whole of 2021, the Democratic Republic of the Congo had produced 13.222 million carats of diamonds, it is clearly observed that diamond production is on the rise this year. Read More Here

News in Brief Mining in DRC

More Than 104,000 Tons Of Cobalt Produced In 11 months-DRC

December 27, 2022December 27, 2022 Constance

The Democratic Republic of Congo produced 104,920 tons of cobalt at the end of November 2022 against 84,442 tons of cobalt at the same period in 2021, according to the Condensed statistical information of the Central Bank of Congo. This record production in 11 months even exceeds the entire production for the whole of 2021, which was 93,011 tonnes of cobalt. Gécamines alone produced 18,844 tons of cobalt during the first 11 months of the year. Read More Here