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Category: News in Brief

Recommissioning Starts as Porgera Prepares to Resume Operations in Q1 2024 1 Gold International News in Brief 

Recommissioning Starts as Porgera Prepares to Resume Operations in Q1 2024

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
Successful Retrieval of Miner, Recovery of Another in Chingola's Senseli Mine 2 Mining in Zambia Mine Safety Mining safety News in Brief Safety & Health 

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

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
Zambia to Launch Nationwide Mineral Mapping Project 3 Mining in Zambia Exploration News in Brief 

Zambia to Launch Nationwide Mineral Mapping Project

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
FQM plans to start arbitration against Panama – ministry 4 International Copper News in Brief 

FQM plans to start arbitration against Panama – ministry

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
Sibanye-Stillwater to Begin Talks on Restructuring of Four Southern African PGM Shafts 5 International Corporate News News in Brief 

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

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
Tanzanian President Commends Zambia's Economic Progress 6 Mining in Zambia Economy News in Brief 

Tanzanian President Commends Zambia’s Economic Progress

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
Barrick Declares Q2 Dividend 7 International Gold News in Brief 

Barrick Declares Q2 Dividend

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
Sandvik wins SEK 460 million mining equipment order in Australia 8 International Mining Equipment News in Brief 

Sandvik wins SEK 460 million mining equipment order in Australia

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
Lobito Corridor to Generate Two Thousand Jobs in the Initial Phase 9 Transport and Logistics Angola News in Brief 

Lobito Corridor to Generate Two Thousand Jobs in the Initial Phase

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
The DRC nearly produced 600,000 tonnes of copper in the 1st quarter of 2023 10 Mining in DRC Copper News in Brief 

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

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