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Category: News in Brief

Congolese Minister of Mines Opposes New Financial Authority for Mining Sector 1 Mining in DRC News in Brief 

Congolese Minister of Mines Opposes New Financial Authority for Mining Sector

Constance
Kizito Pakabomba, the Congolese Minister of Mines, rejected the idea of creating a separate financial authority for the mining sector during a press café in Kinshasa, hosted by the mining registry. Pakabomba argued that establishing another agency would only add unnecessary bureaucracy, noting concerns from the International Monetary Fund (IMF) about the country’s budgetary inefficiencies. He highlighted that the mining sector already contributes nearly 50% to the national budget, emphasizing that the Ministry of Finance manages mining revenues effectively. The minister reaffirmed his commitment to working with the IMF to… Read More Here
Tragedy Strikes Illegal Gold Mining Operation in Shiwang'andu 2 Mining in Zambia Artisanal mining Gold Mine Safety News in Brief 

Tragedy Strikes Illegal Gold Mining Operation in Shiwang’andu

Constance
A tragic incident occurred in Shiwang’andu, Muchinga Province, where an unidentified man lost his life and another was injured during illegal gold mining activities. The accident took place on Friday around 16:00 at the Chipindo gold mine in Chief Mukwikile’s chiefdom. The survivor, 23-year-old Felix Mulenga from Mpika district, was rescued by fellow miners and rushed to Mpika Urban Clinic. Unfortunately, the deceased was pronounced dead upon arrival, while Mulenga suffered bruises to his neck, lips, and eyelids and is currently receiving treatment. Police commanding officer Paul Achinme confirmed that… Read More Here
CEC Mining in Zambia Electricity News in Brief 

Copperbelt Energy Corporation to Address Mining Power Shortfall with Imports

Constance
Copperbelt Energy Corporation (CEC) Group Chief Executive Officer Owen Silavwe announced that imported power will start flowing next month to address the significant shortfall in the mining industry, which is estimated to be between 20% and 30%. Zesco has declared a force majeure on the mining sector, retracting 20% of the energy previously supplied to the mines. In response, CEC stated last month that it had signed contracts with the mining companies it serves to supply the power deficit through imports. During the Energy Indaba held last week in Lusaka,… Read More Here
Panama to review all information to make an informed First Quantum decision 3 International Copper News in Brief 

Panama to review all information to make an informed First Quantum decision

Constance
Panama’s government will review and analyze all the available information to make an “informed and responsible decision” regarding new President Jose Raul Mulino’s request for an environmental audit of Canadian miner First Quantum Minerals’ Cobre Panama mine. “In his message to the nation, President Mulino said he will order a strict environmental audit; So for our part, we are going to review and analyze all the information available to make informed and responsible decision,” Trade and Industry Minister Julio Molto told Reuters on Tuesday. SOURCE:mining.com Read More Here
IMF Highlights Uncertainty in Panama's Economic Outlook Amid Copper Mine Closure 4 International Copper Economy News in Brief 

IMF Highlights Uncertainty in Panama’s Economic Outlook Amid Copper Mine Closure

Constance
Panama’s short-term economic outlook faces significant uncertainty due to the closure of a lucrative copper mine operated by First Quantum Minerals, the International Monetary Fund (IMF) reported on Thursday. Key risks to Panama’s economy include the potential loss of its investment-grade status from credit rating agencies, increased social unrest, and international arbitration proceedings resulting from the halt in copper mining activities, the IMF stated. SOURCE:mining.com Read More Here
Chile's Copper Production Shows Signs of Recovery 5 International Copper News in Brief 

Chile’s Copper Production Shows Signs of Recovery

Constance
Chile, the world’s largest supplier of copper, is showing signs of recovery from 20-year lows in production. In May, copper output reached its highest level for the year, rising more than 8% compared to both April and the same month last year, according to data released on Friday by the country’s bureau of statistics. While top producer Codelco has indicated its output won’t show year-on-year increases until the second half of the year, other suppliers are compensating for the decline. They are overcoming challenges such as lower ore quality and… Read More Here
Zambian Govt Aims for 23,000MW Power Generation by 2050 6 Mining in Zambia Electricity News in Brief 

Zambian Govt Aims for 23,000MW Power Generation by 2050

Constance
The government, through the Integrated Resource Plan (IRP), aims to ramp up power generation to 23,000 megawatts (MW) by 2050, requiring an estimated US$31 billion in financing. Minister of Energy, Peter Kapala, announced at the recent Energy Indaba that the IRP, launched last year, is a strategic long-term initiative designed to meet Zambia’s future energy needs. Mr. Kapala highlighted that the plan includes a target to increase power generation to 6,500MW by 2026, with an initial capital requirement of US$5 billion. SOURCE:Zambia Daily Mail Read More Here
Ivanhoe Electric Addresses Misleading Media Reports on Recent Registration Statement Filing 7 Press Release International Mining technology News in Brief 

Ivanhoe Electric Addresses Misleading Media Reports on Recent Registration Statement Filing

Constance
PHOENIX, ARIZONA – Ivanhoe Electric Inc. (“Ivanhoe Electric”) (NYSE American: IE; TSX: IE) clarifies certain misleading media headlines speculating that Saudi Arabia Mining Company (“Ma’aden”) will sell Ivanhoe Electric shares under the recently filed Registration Statement. The Registration Statement was filed pursuant to an obligation in the Investor Rights Agreements (“IRA”) entered into between Ivanhoe Electric and Ma’aden at the time of Ma’aden’s initial investment in Ivanhoe Electric.  The IRA was previously disclosed and filed on July 6, 2023.  Ma’aden has confirmed, consistent with what was disclosed in the Registration Statement, that it has… Read More Here
Burial of Sensele Mine Accident Victims Held in Chingola 8 Mining in Zambia Mine Safety News in Brief 

Burial of Sensele Mine Accident Victims Held in Chingola

Constance
The remains of the nine victims from the Sensele mine accident in Chingola district, Copperbelt, have been laid to rest at Chingola Cemetery. Mines Minister Paul Kabuswe emphasized the government’s commitment to ensuring safer operations for small-scale miners to prevent future accidents. During the burial, Copperbelt Minister Elisha Matambo expressed gratitude to the families of the deceased for their patience and cooperation during this difficult time. Chingola Mayor Johnson Kang’ombe and District Commissioner Raphael Chimupi reassured the mourners of the government’s support for the people of Chingola during such challenging… Read More Here
Four More Bodies Recovered from Sensele Mine Accident 9 Mining in Zambia Mining safety News in Brief 

Four More Bodies Recovered from Sensele Mine Accident

Constance
Tthe bodies of four miners have been retrieved from tunnels at Sensele Mine, in Chingola as the search continues for over 30 small-scale miners trapped underground since December 2023. Copperbelt Permanent Secretary Augustine Kasongo confirmed the recovery. The four bodies were removed from the same site where 13 bodies and one survivor were previously found. Mr. Kasongo expressed optimism that more bodies will be recovered from sites one and two. Preparations for a mass burial are underway as families work to identify the recovered bodies. SOURCE:znbc Read More Here

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