Zinc - Copperbelt Katanga Mining

ZRA Recovers Over K1.4 Million from Stephane Mining Imports and Exports Limited for Tax Evasion 1

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

Mining in DRC Lithium Mining in Zambia Zinc

India’s Govt to Spearhead Critical Metals Exploration in Africa

March 27, 2024March 27, 2024 Constance1 Comment

The Indian government is set to embark on an exploration of critical metals opportunities in Namibia and several other African countries beginning this year. VL Kantha Rao, the secretary of the mines ministry, disclosed this initiative to the Indian Mining Industry last Friday, revealing a focus on offshore mineral mining in Africa. “We are actively pursuing opportunities in Zambia, Namibia, Congo, Ghana, and Mozambique for critical minerals,” Rao stated. Additionally, Rao mentioned ongoing discussions with Australia concerning lithium blocks, indicating a comprehensive approach towards securing vital resources for India’s industrial… Read More Here

International Zinc

Glencore pauses operations at McArthur River zinc and lead mine

March 22, 2024March 22, 2024 Constance

Swiss multinational commodity trading and mining company Glencore has suspended operations at the McArthur River zinc and lead mine in Australia due to heavy rainfall. The suspension could lead to a further tightening of the global zinc concentrate supply, which is crucial for the production of refined zinc. Located around 970km south-east of Darwin in Australia’s Northern Territory, the McArthur River mine includes an open-cut mine and processing facilities. The site experienced rainfall this week that surpassed the previous record set in 1974. Zinc and lead are mined and processed… Read More Here

Mining in DRC Zinc

Decline in Zinc Ore Production Hits Mining Sector in DRC

March 11, 2024March 11, 2024 Constance

Mining companies in the Democratic Republic of Congo (DRC) have experienced a significant reduction in zinc ore production over the past two years, according to recent statistics from the Central Bank of Congo (BCC). The BCC’s report, released last week, indicates a notable decrease in zinc production, with only 11,287 tonnes produced in 2023. This marks a decline of 15.6% compared to the previous year, where production stood at 12,309 tonnes. Moreover, compared to 2021’s production of 16,079 tonnes, the drop is even more significant, estimated at around 29.8%. Despite… Read More Here

Mining in DRC Cobalt Copper Gold Zinc

DRC’s Mining Exports Drop on Global Markets

August 11, 2023August 11, 2023 Constance

The general trend of the main mining products exported from the Democratic Republic of Congo on international markets is downward during the period from August 7 to 12, 2023. According to projections by the National Commission of Mercurials of the Ministry of Foreign Trade, products such as tin, gold and tantalum should experience a drop in price this week. Tin is expected to trade at $28,671 per ton versus $28,820 per ton last week, down $148. As for gold, its price should be around 63.48 USD per gram this week… Read More Here