CKM NEWSLETTER 16-01-2023

Kamoa-Kakula Mining Complex in the Democratic Republic of Congo (DRC) produced 333,497 tonnes of copper in concentrate in 2022…

The 2023 annual production guidance for Kamoa-Kakula is estimated at between 390,000 to 430,000 tonnes of copper in concentrate, following the anticipated completion of the debottlenecking program early in the second quarter of 2023. Mr. Friedland commented: “Kamoa-Kakula has firmly established a track record of excellence during the development of Phase 1 and Phase 2 operations, which has led to … Read full details

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• Efforts to Combat Illegal Cobalt Mines in The Democratic Republic of Congo Falter
• Ivanhoe Electric Ties up With Saudi Arabia’s Ma’aden
• North America’s top Mining CEOs Anticipate Turbulent Year Ahead
• Panama Accuses First Quantum of Deceiving investors
• Panama Demands $375 Million Payment From First Quantum in Contract Dispute for 2022.
• The Price of Gold at More Than 1900 USD Per Ounce
• Zambia Electricity Supply Cooperation to Set up 800 Megawatts Solar Plants
• Zambia to Source African-Refined Oil

• 28 Kg of Gold Sent From Primera Gold Rdc to United Arab Emirates Under Fair Trade
• Barrick Broadens Copper Base in Saudi Arabia
• Copper Hits Six-Month High at $8,711 Per ton
• DRC President Tshisekedi to Participate in Sale of initial Gold Shipment as Part of UAE Economic Partnership.

The current shutdown of one of the two 150MW units for Maamba Collieries Limited’s 300MW Thermal Power Station is due to routine planned maintenance…

Maamba Collieries Limited and ZESCO Limited jointly clarify that the current shutdown of one of the two 150MW units for Maamba Collieries Limited’s 300MW Thermal Power Station is due to routine planned maintenance and strongly refute suggestions in some quarters, that the maintenance is being used as an ‘arm-twisting’ mechanism by Maamba Collieries to demand funds owed to them by… Read full details

The 2023 fiscal year’s Finance Law anticipates mining revenues to reach 10,887.9 billion Congolese Francs (CDF)…

The 2023 fiscal year’s Finance Law anticipates mining revenues to reach 10,887.9 billion Congolese Francs (CDF), equivalent to over 5.4 billion US dollars. Document 4 of the Finance Law for the 2023 financial year relating to revenue-generating acts indicates that these revenues have increased by 146.3% compared to their level in the 2022 financial year, which amounted to 4,419.9 billion Congolese… Read full details

Copper demand is expected to increase up to threefold by 2040 while cobalt demand is expected to rise over 20 fold…

At last year’s US Africa leaders summit in Washington the US signed an historic memorandum of understanding with Zambia and the Democratic Republic of Congo to develop an electric vehicle battery supply chain. At the summit, Zambian President Hakainde Hichilema also announced that Kobold metals, an exploration firm backed by billionaires Bill Gates, Jeff Bezos and Richard Branson, will invest… Read full details

• 28 Kg of Gold Sent From Primera Gold Rdc to United Arab Emirates Under Fair Trade
• Barrick Broadens Copper Base in Saudi Arabia
• Copper Hits Six-Month High at $8,711 Per ton
• DRC President Tshisekedi to Participate in Sale of initial Gold Shipment as Part of UAE Economic Partnership.

ZESCO announced that Zambia has begun rationing electricity to mining companies due to decreased power generation…

On Tuesday, 10.01.2023 the chairman of state-owned power utility Zambia Electricity Supply Cooperation (Zesco) announced that Zambia has begun rationing electricity to mining companies due to decreased power generation as a result of a significant decline in water levels in Lake Kariba. The Zambezi River Authority, responsible for managing the dam, reported that on Monday, 09.01.2023 the water… Read full details