News in Brief - Copperbelt Katanga Mining

Zambian Miners Trapped in Flooded Shaft

January 22, 2024January 22, 2024 Constance

In a morning incident at Macro Link Mine on the Ndola-Mufulira road, seven miners find themselves trapped in a flooded underground shaft. Augustine Kasongo, Copperbelt Permanent Secretary, confirmed the occurrence, which took place around 07:00 hours, today January 22nd. Among the trapped miners, five are Zambians, and two are Chinese nationals. The mine, currently in its development stage, has suspended operations in response to the emergency. Kasongo revealed that the mine’s safety department is actively engaged in pumping out water as part of ongoing efforts to rescue the stranded miners.… Read More Here

International Contracts & tenders Exploration News in Brief

Angola: Government and Rio Tinto sign investment contract today

January 17, 2024January 17, 2024 Constance

The second largest metals and mining company in the world, Rio Tinto, signs today 16th January, in Luanda, with the Angolan Government, a mining investment contract for prospecting and exploration of base metals in the province of Moxico. The information was provided by the Ministry of Mineral Resources, Oil and Gas, pointing out as the target of the contract the so-called “Moxico Concession”, which covers an area of 9,959 square kilometers. The list of base metals includes ores such as copper, lead, tin, aluminum, nickel and zinc. Rio Tinto, which officially entered Angola… Read More Here

Mining in Zambia Copper News in Brief

Vedanta Resources Limited Awaits Control of Konkola Copper Mines Post Arrangement Scheme

January 5, 2024January 5, 2024 Constance

Vedanta Resources Limited clarified that it has not assumed managerial control at Konkola Copper Mines (KCM) until the scheme of arrangement concludes. Masuzyo Ndhlovu, Director of Corporate Communications at Vedanta Resources Zambia, explained that the scheme of arrangement denotes a legally approved agreement between a company and its creditors. Mr Ndhlovu elaborated that the scheme encompasses actions like withdrawing the Provisional Liquidator and reinstating the KCM Board. He emphasized that the company’s obligation to settle dues to creditors and employees will commence once all requisite processes are finalized for a… Read More Here

Gold International News in Brief

Recommissioning Starts as Porgera Prepares to Resume Operations in Q1 2024

December 24, 2023December 24, 2023 Constance

Following the formal completion of the Porgera Project Commencement Agreement on December 22nd, work has started on the recommissioning of the Porgera gold mine in Papua New Guinea, which has been in care and maintenance since April 2020. This work is expected to be completed over the next few weeks, paving the way for mining and processing to restart in the first quarter of 2024. Barrick president and chief executive Mark Bristow, who was closely involved in the negotiations that eventually delivered the restart agreement, said the mine’s new ownership… Read More Here

Mining in Zambia Mine Safety Mining safety News in Brief Safety & Health

Successful Retrieval of Miner, Recovery of Another in Chingola’s Senseli Mine

December 6, 2023December 6, 2023 Constance

In a recent update from the Copperbelt Deputy Permanent Secretary, Daniel Kamenga, it was reported that one miner has been successfully retrieved alive from pit 4 at Senseli mine in Chingola. The rescue operation, conducted by the dedicated team, led to the recovery of the miner around 22:00 hours last night. Unfortunately, during the rescue efforts, the body of another miner was also recovered at approximately 23:00 hours. Mr. Kamenga expressed that significant progress has been achieved in the ongoing rescue operation, marking a positive step towards its conclusion. SOURCE:ZNBC Read More Here

Mining in Zambia Exploration News in Brief

Zambia to Launch Nationwide Mineral Mapping Project

December 1, 2023December 4, 2023 Constance

Zambia’s Acting Mines and Minerals Development Minister, Chipoka Mulenga has unveiled a nationwide initiative to comprehensively survey and map the country’s abundant mineral reserves. This strategic effort is aimed at providing the Zambian government with an in-depth understanding of its diverse mineral deposits. Highlighting progress, Mr. Mulenga announced the completion of geological surveys at Mpika district’s Kanyelele Gold Mine, conducted to assess the extent and potential of mineral resources in the area. He noted that the finalization of a detailed report on these findings is underway. Addressing the National Assembly,… Read More Here

International Copper News in Brief

FQM plans to start arbitration against Panama – ministry

November 27, 2023November 27, 2023 Constance

Canada’s First Quantum sent two notifications of intent to start an arbitration process against Panama, the Central American country’s trade ministry said Sunday November 26, amid protests demanding the miner’s contract to run a key mine be scrapped. Panama’s top court started deliberations to rule on several constitutional challenges to First Quantum’s contract on Friday and is expected to issue a ruling in the coming days. SOURCE:mining.com Read More Here

International Corporate News News in Brief

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

October 25, 2023October 25, 2023 Constance

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