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Category: News in Brief

President Tshisekedi Promotes Business Climate at France-DRC Forum 1 Mining in DRC Governance News in Brief 

President Tshisekedi Promotes Business Climate at France-DRC Forum

Constance
During his Paris visit, President Félix Tshisekedi addressed French businessmen at the Mendès-France Conference Center, emphasizing the direct link between the business climate unit and the Presidency of the Republic to ensure prompt responsiveness. Anthony Kinzo, Director General of the National Agency for the Promotion of Investments (ANAPI), highlighted the DRC’s progress, including the removal of 16 taxes as part of an emergency plan initiated in 2023 to enhance the business environment. The France-DRC Business Forum, organized by Medef, prioritizes strategic minerals, energy, and infrastructure development, crucial sectors for the… Read More Here
Winston Chitando Reappointed as Zimbabwe's Mines Minister 2 International Mining Personality News in Brief 

Winston Chitando Reappointed as Zimbabwe’s Mines Minister

Constance
President Emmerson Mnangagwa has reinstated Winston Chitando as Zimbabwe’s Mines Minister, a position he previously held before the elections last year. Chitando, who previously served as the Minister of Local Government, has been appointed back to his former role in a series of changes announced by Chief Secretary to the President and Cabinet Martin Rushwaya on Wednesday. Among the reshuffles, Soda Zhemu, who replaced Chitando, is now the Minister of National Housing and Social Amenities. According to Rushwaya’s statement, all appointments are effective immediately. Read More Here
Barrick Declares Q1 Dividend 3 Gold News in Brief 

Barrick Declares Q1 Dividend

Constance
Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) on 1st of May announced the declaration of a dividend of $0.10 per share for the first quarter of 2024. The dividend is consistent with the Company’s Performance Dividend Policy announced at the start of 2022. The Q1 2024 dividend will be paid on June 17, 2024 to shareholders of record at the close of business on May 31, 2024. “The continued strength of our balance sheet and our global asset base provide us with the ability to maintain the distribution of a robust dividend to… Read More Here
Chile president wants copper output boost of 1Mt by 2026 4 International Copper News in Brief 

Chile president wants copper output boost of 1Mt by 2026

Constance
Chile President Gabriel Boric said on Thursday he is targeting an increase in the country’s annual copper output by 1 million metric tons by the end of his term in 2026. “We have to take advantage of this super-cycle of copper that has been spoken of positively in recent days,” he said at an event, adding that he was referring to state-run miner Codelco as well as privately run operations in the country that is the world’s top copper producer. SOURCE:mining.com Read More Here
Workers in Mozambique block entrance to ruby mine 5 International News in Brief 

Workers in Mozambique block entrance to ruby mine

Constance
One hundred workers from the logistics company REEF blocked the main entrance of the camp and the mine area where the company FURA’s ruby washing plant is located, in the Montepuez district, Cabo Delgado. The issue at hand is a debt of 17 million meticais owed by the REEF company. According to António Ramalho, secretary of the local union committee, workers have not received their wages for three months, and this is the way they found to pressure REEF to honor its commitments. The REEF representative, Rui Frederico, says the… Read More Here
FQM says probability of taking out copper from Panama mine only after election 6 International Copper News in Brief 

FQM says probability of taking out copper from Panama mine only after election

Constance
Canadian miner First Quantum Minerals said on Wednesday the likelihood of taking out the 121,000 tonnes of copper from its disputed Cobre Panama mine can only happen after the Panama national election. First Quantum’s Cobre Panama is under preservation and safe maintenance after the current Panama government ordered the closure of the copper mine last year. Panama goes to polls in May this year. SOURCE:mining.com Read More Here
China Cancels Portion of Zimbabwe's Debt Amidst Growing Concerns 7 International Economy News in Brief 

China Cancels Portion of Zimbabwe’s Debt Amidst Growing Concerns

Constance
China has announced the cancellation of a portion of its interest-free loans to Zimbabwe, demonstrating support amidst the country’s financial challenges. The move is part of China’s broader effort to aid Zimbabwe in tackling its escalating debt burden, which has reached $17.7 billion as of September 2023. Despite welcoming the debt relief, concerns persist about Zimbabwe’s long-term debt sustainability. The specifics of the loan write-off and future debt restructuring will be clarified in discussions between Chinese and Zimbabwean authorities, with the international community closely monitoring developments. While China’s decision represents… Read More Here
Mopani Copper Mining in Zambia News in Brief 

Mopani Copper Mines Transaction Falls Outside Article 210 of Zambia’s Constitution

Constance
Attorney General Mulilo Kabesha clarified that the Mopani Copper Mines transaction falls outside the scope of Article 210 of the Zambian Constitution and thus doesn’t necessitate approval from the National Assembly. In a statement issued recently, Mr. Kabesha emphasized that Article 210 pertains to transactions involving the sale, transfer, or disposal of significant state assets, including parastatals and government-held equity. He highlighted that Mopani does not fall under either category as it is not a parastatal nor does the government hold equity in it. Mopani operates as a distinct legal… Read More Here
Trafigura CEO says copper must surpass $10,000 to meet demand 8 International Copper Mining Personality News in Brief 

Trafigura CEO says copper must surpass $10,000 to meet demand

Constance
In order to fill a potential supply gap of 8 million tons by 2034, mining companies need prices that are higher than $10,000 a ton and possibly as high as $12,000, says Trafigura Group chief executive officer Jeremy Weir. Weir made his comments Tuesday during a presentation at the CRU World Copper Conference in Santiago, where the copper industry is gathering for one of the industry’s biggest annual events. SOURCE:mining.com Read More Here
Zambia's President Invites Botswana Investment Expertise to Mining Sector 9 Mining in Zambia Diamond News in Brief 

Zambia’s President Invites Botswana Investment Expertise to Mining Sector

Constance1 Comment
President Hakainde Hichilema has extended an invitation to Botswana to invest in Zambia’s mining sector, citing Botswana’s expertise in managing diamonds as a key factor. Speaking at the launch of the Lusaka International Arbitration Center (LIAC), President Hichilema emphasized the importance of learning from Botswana’s successful management of diamond resources and replicating similar strategies for Zambia’s emeralds. President Hichilema expressed confidence in attracting investors like Botswana to utilize LIAC for resolving disputes efficiently. He highlighted LIAC’s role in addressing commercial issues promptly, stressing its significance in maintaining Zambia’s positive reputation… Read More Here

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