Zinc - Copperbelt Katanga Mining

Trafigura’s Zinc Withdrawal Sparks Price Surge on LME

November 28, 2024November 28, 2024 Constance0 comment

Trafigura Group, a major player in the global zinc market, has triggered a rally in zinc prices by ordering the withdrawal of thousands of tons of the metal from London Metal Exchange (LME) warehouses, according to sources familiar with the situation. Orders for zinc withdrawals surged by 97,225 tons over two days—the largest spike in more than a decade—leaving less stock available for other buyers. This shortage has supported a 5.5% increase in zinc prices this week, with the metal trading 1.8% higher at $3,129.50 per ton on Wednesday. Trafigura,… Read More Here

Mining in DRC New Mining Projects Zinc

Jean-Lucien Busa Highlights Strategic Impact of Kipushi Mine Revival in DRC

November 21, 2024November 21, 2024 Constance

During the inauguration of the Kipushi Company (KICO) zinc production plant in Kipushi, Haut-Katanga, Minister of Portfolio Jean-Lucien Busa underscored the project’s strategic importance to the Democratic Republic of Congo’s (DRC) economy. This partnership between state-owned Gécamines and Ivanhoe Mines positions the DRC as Africa’s top zinc producer and strengthens the government’s economic influence. “This initiative makes the DRC the leading zinc producer in Africa and boosts the State portfolio, enhancing its assets, capacities, and influence within the Congolese economy,” Minister Busa remarked. He praised President Félix Tshisekedi’s vision, reflected… Read More Here

Mining in DRC New Mining Projects Zinc

DRC President Relaunches Kipushi Corporation to Boost Zinc Production and Jobs

November 21, 2024November 24, 2024 Constance

Democratic Republic of Congo (DRC) President Félix Tshisekedi announced the official relaunch of Kipushi Corporation (Kico SA) on Sunday during a meeting in Lubumbashi. Located in Kipushi, a mining town in Haut-Katanga, the company’s revival is expected to boost job creation and elevate the town’s global profile through zinc production, which is in high demand across industries. “Kipushi will experience a revival,” Tshisekedi stated. “Hundreds, even thousands, of direct and indirect jobs will be created. This activity will put Kipushi on the world map, as zinc remains a highly sought-after… Read More Here

Mining in DRC New Mining Projects Zinc

Kipushi Mine Resumes Operations as a Global Leader in Zinc Production

November 20, 2024November 20, 2024 Constance

After a 30-year hiatus, the Kipushi mine in Haut-Katanga, located 30 kilometers from Lubumbashi, has officially resumed operations. Known as the world’s highest-grade zinc mine, it now boasts a state-of-the-art concentrator capable of processing 800,000 tonnes of ore annually. This facility, completed in May 2024, achieved its first zinc concentrate production in June 2024. The mine, which ceased operations in 1993, is targeting 2024 production levels of 50,000 to 70,000 tonnes of zinc in concentrate. Its modern concentrator employs advanced grinding and flotation technologies, achieving a recovery rate of 96%… Read More Here

Mining in Zambia Copper Mining tax Zinc

ZRA Recovers Over K1.4 Million from Stephane Mining Imports and Exports Limited for Tax Evasion

September 8, 2024September 8, 2024 Constance

The Zambia Revenue Authority (ZRA) has successfully recovered K1,493,307.52 from Stephane Mining Imports and Exports Limited following the company’s conviction by the Economic and Financial Crimes Court in Kitwe for tax evasion. Between January 1 and March 30, 2024, Stephane Mining Imports and Exports Limited falsified export documents, misrepresenting Zinc Ore as Zinc concentrate to evade taxes. The ZRA intercepted six trucks transporting the misdeclared ore, uncovering the tax evasion scheme. After entering into a plea negotiation, the company has fully paid the evaded taxes and reimbursed K100,000 in prosecution… Read More Here

Mining in DRC Cobalt Copper Zinc

Energy Deficits and Production Challenges Impact DRC’s Mining Sector

May 20, 2024May 20, 2024 Constance

From 2022 to 2023, mining production in the Democratic Republic of Congo (DRC), particularly in the Haut-Katanga province, experienced both growth and stagnation due to numerous challenges, especially the energy deficit linked to the deteriorating network of the national electricity company (SNEL). During the general and elective assembly of the Federation of Congolese Enterprises (FEC), Patrick Muland Kabey, re-elected as provincial President, acknowledged that the mining sector has seen delayed growth over the past two years. According to FEC statistics, mining products such as cobalt and copper, which are critical… Read More Here

International Cobalt Nickel Zinc

Glencore Eyes Investment in Nigeria’s Mining Sector Amid Government Push for Growth

April 28, 2024April 28, 2024 Constance

Commodities giant Glencore (LON: GLEN) announced on Friday its interest in investing in Nigeria’s mining sector, contingent upon the government ensuring a stable business environment. CEO Gary Nagle, who held discussions with Nigeria’s Minister for Solid Minerals, Dele Alake, expressed particular interest in nickel, cobalt, zinc, and other metals. The timing of this visit aligns with Nigeria’s efforts to attract foreign investors to its underdeveloped mining sector. Alake emphasized the federal government’s commitment to attracting major international companies to drive the growth of the mining sector, drawing parallels with its… Read More Here

International Press Release Zinc

MMG releases 2024 First Quarter Production Report

April 24, 2024April 24, 2024 Constance

MMG Limited (MMG, the Company) yesterday 23rd April released its First Quarter Production Report for the three months ended 31 March 2024, producing 67,129 tonnes of copper and 59,247 tonnes of zinc. This follows the completion of the acquisition of the Khoemacau mine for an effective Enterprise Value of US$ 1,875 million, last month. This important acquisition aligns to MMG’s vision of creating a leading international mining company for a low carbon future and will create meaningful long-term value for MMG shareholders. MMG Interim CEO Liangang Li, noted: “Total copper… Read More Here

Mining in DRC Artisanal mining Cobalt Copper Zinc

Lwisha Artisanal Miners Face Harassment and Exploitation by State Services

April 7, 2024April 7, 2024 Constance

At artisanal mining sites in Lwisha, located in the Haut-Katanga province, diggers endure not only the illegal presence of numerous state services but also harassment and arbitrary taxes. In areas like “Kasonga” or “Double Band,” where copper is extracted, artisanal diggers are subjected to abuses by state services. These services control the region, imposing various taxes and fees without clear justification, plunging diggers into perpetual poverty. Working under deplorable conditions, diggers in Lufira’s sector face multiple barriers controlled by different state departments, each demanding payments upon each visit. Refusal often… Read More Here

Mining in DRC Copper Zinc

Copper Prices Expected to Decline in DRC

April 3, 2024April 3, 2024 Constance

The price of copper is anticipated to decrease during the first week of April 2024, disappointing hopes for producing countries like the Democratic Republic of Congo (DRC). Projections from experts at the National Mercurial Commission of the Ministry of Foreign Trade of the DRC suggest that copper will be priced at USD 8,763.30 per tonne from April 1 to 6, down from USD 8,866.65 per tonne the previous week, marking a significant drop of 103 USD per tonne. In 2023, mining companies in the DRC produced 2,842,022 million tonnes of… Read More Here