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KCM Reaffirms Commitment to Settling Debts Under Court-Approved Payment Plan 21 Mining in Zambia Corporate News Press Release 

KCM Reaffirms Commitment to Settling Debts Under Court-Approved Payment Plan

Constance
Konkola Copper Mines (KCM) has assured that it is fully committed to meeting its obligations under the Scheme of Arrangement, a court-approved payment plan. The company confirms that it has not defaulted on any payments to creditors and is adhering to the terms established by the court. KCM has already made full payments to smaller creditors (Class I), those owed less than $1 million. For larger creditors (Class II), owed $1 million or more, KCM has paid 35% of the amounts due as a first tranche on a prorated basis,… Read More Here
DRC Positions Itself as Key Player in Global Energy Transition at Strategic Mining Summit 22 Mining in DRC Events & Expos 

DRC Positions Itself as Key Player in Global Energy Transition at Strategic Mining Summit

Constance
Chaired by His Excellency Guylain Nyembo, Deputy Prime Minister, Minister of Planning, and Chairman of the Executive Board of the EITI-DRC, a strategic meeting convened the key stakeholders of the Congolese extractive sector. Among those in attendance were His Excellency Kizito Pakabomba, Minister of Mines and Vice-President of the Executive Committee of the EITI-DRC; Mrs. O’Neige N’Sele Mimpa, Deputy Minister of Finance; as well as Cabinet members of the Head of State, Secretaries General of Public Administration, representatives from the Court of Auditors, and technical and financial partners. In his… Read More Here
Mercuria Intensifies Copper Trading to Match Oil Division Success 23 International 

Mercuria Intensifies Copper Trading to Match Oil Division Success

Constance
Mercuria, one of the world’s largest independent energy and commodity trading companies, is making a significant shift in its business strategy by expanding into copper trading. The Swiss commodities giant aims to elevate its metals division to the same scale and profitability as its well-established oil trading business, signaling a long-term strategic pivot. At the FT Commodities Global Summit, CEO Marco Dunand emphasized Mercuria’s “substantial investment in the metals sector,” focusing particularly on copper as a key growth driver. “There are significant opportunities to pre-finance, co-invest, and secure supply in… Read More Here
Glencore Declares Force Majeure on Copper Shipments from Altonorte Smelter 24 International Corporate News 

Glencore Declares Force Majeure on Copper Shipments from Altonorte Smelter

Constance
London-listed mining giant Glencore has declared force majeure on copper shipments from its Altonorte smelter in Chile, following a suspension of production at the facility, according to two industry sources. Force majeure is typically declared when unforeseen events prevent companies from meeting contractual obligations. The sources were unable to confirm how long operations at Altonorte, which has an annual capacity of 350,000 metric tons of copper in anode form, would remain halted. Glencore has yet to comment on the situation. Although Altonorte’s output represents only a small portion of global… Read More Here
DRC’s Mining Minister Condemns Fraudulent Exploitation of Natural Resources 25 Mining in DRC 

DRC’s Mining Minister Condemns Fraudulent Exploitation of Natural Resources

Constance
Democratic Republic of Congo (DRC) Minister of Mines Kizito Pakabomba has denounced illegal mining practices that undermine the national economy. Speaking in Kinshasa on Thursday, March 27, during a meeting with representatives of processing entities, he condemned the illicit exploitation of the country’s natural resources. “It is unacceptable that some entities continue to source from uncertified suppliers, promoting fraudulent exploitation that harms our economy and the environment,” Pakabomba stated. He also highlighted the challenges faced by artisanal miners, who are frequently exploited through unfair trade practices. Calling for stricter enforcement,… Read More Here
Rio Tinto Eyes Roche Dure Lithium Mine Amid DRC Talks 26 Mining in DRC Battery Metals Corporate News Lithium 

Rio Tinto Eyes Roche Dure Lithium Mine Amid DRC Talks

Constance
Rio Tinto has engaged in early discussions with the Democratic Republic of Congo (DRC) about developing the Roche Dure deposit into a lithium mine. Roche Dure is one of the world’s largest hard-rock lithium resources, making it a highly strategic asset in the global lithium market. Neither Rio Tinto nor the DRC’s Ministry of Mines has commented on the talks. Meanwhile, the DRC is also in discussions with the U.S. government over a potential minerals-for-security agreement aimed at countering a Rwanda-backed rebellion in its eastern provinces. California-based exploration company KoBold… Read More Here
Zambia’s Mining Pollution Poses Growing Environmental and Economic Risks 27 Mining in Zambia 

Zambia’s Mining Pollution Poses Growing Environmental and Economic Risks

Constance
Concerns over mining pollution in Zambia are growing as experts highlight severe health risks and economic instability linked to environmental hazards. Economic analyst Kelvin Chisanga has raised alarm over the discharge of harmful chemicals into the country’s water bodies by mining companies, calling for urgent regulatory action. “The mining sector once promised economic growth, job creation, and increased revenue. However, with stakeholders failing to uphold environmental standards, we are witnessing a dangerous trend of pollution,” Chisanga stated. He emphasized that Zambia’s mining industry has long operated under weak regulatory oversight,… Read More Here
Zambia’s Economy Surpasses Growth Forecasts Amid Strong Q4 Performance 28 Mining in Zambia Economy 

Zambia’s Economy Surpasses Growth Forecasts Amid Strong Q4 Performance

Constance
Zambia’s economy outperformed expectations in 2023, exceeding growth forecasts from both the government and the International Monetary Fund (IMF), driven by a sharp rise in fourth-quarter output. According to preliminary data, the country’s gross domestic product (GDP) grew by 4% in 2023, down from 5.4% in 2022, acting Statistician-General Sheila Mudenda announced on Thursday. This figure far exceeded the IMF’s projection of 1.2% and the estimates of President Hakainde Hichilema’s administration, Bloomberg reported. The economy recorded an impressive 8.6% growth in the last quarter—the fastest pace in over a decade—bolstered… Read More Here
DRC Imposes Record $4.3 Million Fine for Mining Transparency Violations 29 Mining in DRC 

DRC Imposes Record $4.3 Million Fine for Mining Transparency Violations

Constance
As of January 1, 2025, individuals and entities in the Democratic Republic of Congo (DRC) face a $4.3 million fine for obstructing transparency and traceability in the mining sector. This penalty, outlined in Decision No. CAMI/DG/003/2024, was issued by the Mining Cadastre (CAMI) on December 16, 2024, marking the most severe enforcement action under the country’s amended Mining Code. Despite its significance, the ruling has received little public attention. The updated fines stem from Article 375 of the 2018 Mining Code, which mandates annual revisions of fines in foreign currency,… Read More Here
Bank of Zambia to Launch New Kwacha Banknotes on March 31 30 Mining in Zambia Economy 

Bank of Zambia to Launch New Kwacha Banknotes on March 31

Constance
The Bank of Zambia will introduce a new family of Kwacha banknotes on Monday, March 31, making them immediately legal tender while beginning the gradual phase-out of the existing designs. The new series includes the 500, 200, 50, 20, and 10 Kwacha notes, featuring: According to Kagolis Mwamulowe, Director of the National Heritage Conservation Commission, the new notes highlight Zambia’s unique natural heritage, including its diverse flora and fauna. Leonard Mwanza, CEO of the Bankers’ Association of Zambia, reassured the public that banks and ATMs are fully prepared for the… Read More Here

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