Breaking News
Gold Rush Transforms Zimbabwe’s Filabusi Amid Record Prices 1 International Gold 

Gold Rush Transforms Zimbabwe’s Filabusi Amid Record Prices

Constance
In Filabusi, a small town in southeastern Zimbabwe, the streets are lined with gleaming BMW X5s and Land Rover Defenders. Modern houses—paid for in cash—are springing up across the landscape, and whisky in local bars is sold exclusively by the bottle. This transformation has been fueled by a surge in gold prices over the past three years, culminating in a historic high in 2025. The rally, spurred in part by global economic uncertainty and intensified during former U.S. President Donald Trump’s trade war, has turned gold into a safe-haven asset—and… Read More Here
Glencore Declares Force Majeure on Cobalt Shipments Following DRC Export Ban 2 Mining in DRC Battery Metals Cobalt Corporate News 

Glencore Declares Force Majeure on Cobalt Shipments Following DRC Export Ban

Constance
Glencore has declared force majeure on certain cobalt deliveries from the Democratic Republic of Congo (DRC), just days after the Congolese government imposed a temporary export ban on the key battery metal, according to three sources familiar with the matter who spoke to Reuters. The DRC, which produces the majority of the world’s cobalt, enacted a four-month export ban in February in a bid to ease a supply glut that had depressed prices to their lowest levels in nine years and reduced government revenue. As a result, Glencore, listed on… Read More Here
Ivanhoe Mines Cuts 2025 Copper Guidance After Seismic Flooding Disrupts Kamoa-Kakula Operations 3 Mining in DRC Copper Corporate News 

Ivanhoe Mines Cuts 2025 Copper Guidance After Seismic Flooding Disrupts Kamoa-Kakula Operations

Constance
Ivanhoe Mines has lowered its 2025 copper production forecast for the Kamoa-Kakula complex in the Democratic Republic of Congo (DRC), following a temporary suspension of underground operations at the Kakula mine due to severe flooding caused by seismic activity. The incident, which occurred on May 18, forced a full shutdown of the Kakula underground mine and triggered an extensive geotechnical review. In response, Ivanhoe has implemented a revised short-term mine plan. Underground mining resumed on the western side of the Kakula mine over the past weekend, with operations on the… Read More Here
Red Rock Resources Nears Landmark Supreme Court Ruling in $20M DRC Asset Dispute 4 Mining in DRC 

Red Rock Resources Nears Landmark Supreme Court Ruling in $20M DRC Asset Dispute

Constance
Natural resource exploration and development firm Red Rock Resources announced that it is approaching a key breakthrough in its ongoing legal battle in the Democratic Republic of Congo (DRC), with a ruling from the country’s Cour de Cassation (Supreme Court) expected imminently. The anticipated judgment is central to resolving Red Rock’s dispute over a contested $20 million sale of copper and cobalt assets near Kolwezi—an agreement the company alleges was executed without its knowledge or consent. This Supreme Court decision is expected to have a significant impact on a parallel… Read More Here
Gemfields Raises $30 Million Through Successful Rights Issue 5 Corporate News Gemstones 

Gemfields Raises $30 Million Through Successful Rights Issue

Constance
Gemstone mining company Gemfields has successfully concluded a fully underwritten rights issue, originally announced on April 11. The offering resulted in the issuance of approximately 556 million new ordinary shares, raising around $30 million in capital for the company. Gemfields reported that it received valid acceptances for about 458 million of the new shares, representing roughly 82.4% of the total shares offered. The remaining 98 million shares will be taken up by the underwriters of the rights issue. Assore International Holdings will subscribe to approximately 64 million shares, while Rational… Read More Here
Mali Partners with Russia to Launch State-Controlled Gold Refinery 6 Gold International 

Mali Partners with Russia to Launch State-Controlled Gold Refinery

Constance
Mali’s government announced plans to establish a state-controlled gold refinery in partnership with Russian firm Yadran, aiming to boost revenue from its bullion exports. The move comes as West African nations push for greater returns from their natural resources amid rising global commodity prices. The new company, SOROMA-SA, will be majority-owned by the Malian state with a 62% stake, while Yadran will hold the remaining 38%, according to Economy and Finance Minister Alousseni Sanou. The refinery will be constructed on a five-hectare site near Bamako’s airport and is designed to… Read More Here
DRC Suspended Mining Rights Applications to Reform Cadastral System 7 Mining in DRC 

DRC Suspended Mining Rights Applications to Reform Cadastral System

Constance
The Democratic Republic of Congo’s Mining Registry (CAMI) temporarily suspended the processing of new applications for mining rights and exploration quarries. Effective May 31, 2025, the CAMI office closed its counter to all new submissions until further notice, marking a significant pause in the issuance of mining titles. This decision was made in accordance with directives from the Minister of Mines, outlined in an official letter dated May 28, 2025. The primary aim of the suspension was to allow CAMI to conduct a comprehensive cleanup of the national cadastral database.… Read More Here
FQM Trident Strengthens Zambia’s Mining Sector with Record Production and Sustainability Efforts 8 Mining in Zambia Copper Corporate News 

FQM Trident Strengthens Zambia’s Mining Sector with Record Production and Sustainability Efforts

Constance
Solwezi, Zambia – FQM Trident, a subsidiary of First Quantum Minerals, continues to solidify its position as a key player in Zambia’s mining sector. During a recent media tour, Assistant General Manager Frederic Wouters provided an update on the company’s operations, highlighting record production figures, environmental initiatives, and community investment efforts. In 2024, FQM Trident’s Sentinel Copper Mine produced an impressive 231,000 tons of copper, with similar output expected this year. Meanwhile, the newly commissioned Enterprise Nickel Mine is ramping up production and is projected to deliver up to 25,000… Read More Here
AFC Secures $320 Million Deal with Italy to Boost Angola's Lobito Corridor 9 Transport and Logistics Angola Economy Mining in DRC Mining in Zambia 

AFC Secures $320 Million Deal with Italy to Boost Angola’s Lobito Corridor

Constance
Africa Finance Corporation (AFC), a Lagos-based continental financier, will soon sign a $320 million financing agreement with Italy, part of which will support the development of a new transport corridor linking critical mineral fields in central Africa to Angola’s Lobito port, according to AFC CEO Samaila Zubairu. AFC, owned by African central banks and development lenders, is the financing partner for the U.S.-backed Lobito Corridor project. The corridor aims to connect the Atlantic port of Lobito in Angola with mineral-rich regions in Zambia and the Democratic Republic of the Congo,… Read More Here
ZCCM-IH Appoints Kakenenwa Muyangwa as CEO to Lead New Strategic Phase 10 Mining in Zambia Mining Personality 

ZCCM-IH Appoints Kakenenwa Muyangwa as CEO to Lead New Strategic Phase

Constance
ZCCM Investments Holdings Plc (ZCCM-IH) has announced a major leadership transition with the appointment of Mr. Kakenenwa Muyangwa as Chief Executive Officer, effective 6 June 2025. This follows his retirement as Non-Executive Director and Board Chairperson, effective 5 June 2025. The announcement, made in line with Section 3.59 of the Lusaka Securities Exchange (LuSE) Listing Rules, reflects the company’s commitment to leadership continuity and strategic transformation. Mr. Muyangwa is a seasoned business executive with more than 35 years of experience in business strategy, corporate recovery, mining investment, and financial management.… Read More Here

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