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Mercuria Intensifies Copper Trading to Match Oil Division Success 22 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 23 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 24 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 25 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 26 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 27 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 28 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 29 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
FQM Suspends Public Tours of Panama Copper Mine Amid Govt Pressure 30 Copper Corporate News International 

FQM Suspends Public Tours of Panama Copper Mine Amid Govt Pressure

Constance
First Quantum Minerals announced on Thursday that it will halt public tours of its shuttered copper mine in Panama following concerns raised by President José Raúl Mulino that the company should not create the impression that the site remains operational. Speaking at a press conference earlier that day, Mulino clarified that no discussions had taken place with First Quantum regarding the mine’s future. The Panamanian government ordered its closure in late 2023 after widespread public protests over environmental concerns. “I don’t want them to give the impression that the mine… Read More Here
Mali Expects Gold Output Recovery in 2025 Amid Barrick Gold Standoff 31 International Corporate News Gold 

Mali Expects Gold Output Recovery in 2025 Amid Barrick Gold Standoff

Constance
Mali anticipates a slight rebound in industrial gold production in 2025, assuming Barrick Gold resumes operations following a prolonged dispute with the government, according to a document from the country’s mines ministry seen by Reuters on Wednesday. Gold production is projected to reach 54.7 metric tons in 2025, up from 51.7 tons in 2024, which marked a 23% decline from previous years. As one of Africa’s leading gold producers, Mali hosts around 15 operational gold mines, primarily owned by Barrick Gold, B2Gold, Resolute Mining, Endeavour Mining, and Hummingbird Resources. Barrick… Read More Here

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