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Glencore CEO Meets President Tshisekedi to Deepen Commitment to the DRC and Its People 20 Mining in DRC Corporate News 

Glencore CEO Meets President Tshisekedi to Deepen Commitment to the DRC and Its People

Constance
Glencore Group CEO Gary Nagle held discussions with President Félix Tshisekedi and Prime Minister Judith Suminwa in Kinshasa on Tuesday, December 10. In a press release issued after the meeting, Glencore highlighted its intention to deepen its engagement with the Democratic Republic of Congo (DRC) and its citizens, especially in communities hosting its operations at Mutanda Mining (MUMI) and Kamoto Copper Company (KCC). Gary Nagle was accompanied by senior Glencore executives, including Anne Edwards, Head of Corporate Affairs; Marie-Chantal Kaninda, Chair of Glencore DRC; and Mark Davis, Managing Director of… Read More Here
Barrick Gold Seeks Buyer for Côte d'Ivoire's Tongon Mine Amid Gold Price Surge 21 International Corporate News Gold 

Barrick Gold Seeks Buyer for Côte d’Ivoire’s Tongon Mine Amid Gold Price Surge

Constance
Barrick Gold Corp., the world’s second-largest gold producer, is seeking buyers for its Tongon gold mine in Côte d’Ivoire as part of its strategy to divest aging assets while gold prices remain high. Barrick has partnered with Toronto-Dominion Bank to identify potential buyers and solicit bids for the mine, according to sources familiar with the matter. Neither Barrick nor TD Bank has commented on the sale. Located 682 km north of Côte d’Ivoire’s port city of Abidjan, Tongon is an open-pit mine nearing the end of its operational life. Production… Read More Here
Codelco and Enami Explore Collaboration on Copper Smelting Expansion 22 International Copper 

Codelco and Enami Explore Collaboration on Copper Smelting Expansion

Constance
Chile’s state-owned copper giants, Codelco and Enami, are in early discussions to consolidate their efforts to expand smelting capacity into a single project, according to sources familiar with the matter. A newly formed working group is exploring options for cooperation between two initiatives: Enami’s project to revamp its closed Hernan Videla Lira smelter and Codelco’s proposal to build a new smelting facility. The collaboration could range from aligning their projects to meet national processing needs to merging the two into a single venture. Strengthening Chile’s smelting capacity is a key… Read More Here
Zambia’s Finance Minister Refutes Tax Holidays for Multinational Mining Companies 23 Mining in Zambia Economy Mining tax 

Zambia’s Finance Minister Refutes Tax Holidays for Multinational Mining Companies

Constance
Zambia’s Finance Minister, Situmbeko Musokotwane, has dismissed allegations that the government provides tax holidays to multinational mining companies, asserting, “There is no mine that has been given a tax holiday.” Speaking in Parliament, Musokotwane emphasized that Zambia’s tax policies are designed to align with international standards, ensuring stability in the mining sector while fostering investment. . He noted that previous policy inconsistencies had led to production declines and mine closures, prompting the government to adopt a more consistent approach. The Minister criticized misinformation from certain civil society organizations and political… Read More Here
Zambia Seeks EU Support to Strengthen Mining and Economic Development 24 Mining in Zambia Copper Economy 

Zambia Seeks EU Support to Strengthen Mining and Economic Development

Constance
Zambia’s Minister of Mines and Mineral Development, Hon. Paul Kabuswe, has called on the European Union (EU) to bolster its support for Zambia’s mining sector and overall economic growth. The Minister made the appeal during a bilateral meeting with EU International Partnership Commissioner Jozef Sikela in Brussels. Hon. Kabuswe emphasized Zambia’s political stability, adherence to the rule of law, and peaceful environment as key factors in attracting European investors. He highlighted the mining sector’s impressive $10 billion investment growth over the past three years and acknowledged the EU’s valuable contributions… Read More Here
ZCCM-IH Invests $10 Million in Zambia’s Groundbreaking Green Bond Initiative 25 Mining in Zambia 

ZCCM-IH Invests $10 Million in Zambia’s Groundbreaking Green Bond Initiative

Constance
ZCCM Investments Holdings PLC (ZCCM-IH) has committed $10 million (ZMW275 million) to the second tranche of the CEC Renewables Limited Green Bond. This tranche, targeting $96.7 million, will finance the 136MW Itimpi-2 solar project, expanding the capacity of the existing 60MW Itimpi-1 solar photovoltaic (PV) plant. Dr. Ndoba Vibetti, ZCCM-IH CEO, highlighted the investment’s alignment with the company’s sustainability objectives. “Our mission is to create tangible wealth sustainably for the benefit of the Zambian people and stakeholders. This green bond financing for solar projects supports that mission while addressing the… Read More Here
Kamoa-Kakula Achieved a Record 45,019 Tonnes of Copper in November 26 Mining in DRC Copper Economy 

Kamoa-Kakula Achieved a Record 45,019 Tonnes of Copper in November

Constance
Kolwezi, Democratic Republic of Congo – Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) Executive Co-Chairman Robert Friedland and President Marna Cloete announced that the Phase 1, 2, and 3 concentrators at the Kamoa-Kakula Copper Complex in the Democratic Republic of the Congo (DRC) achieved a monthly combined production record of 45,019 tonnes of copper in concentrate during the 30 days of November. The concentrators milled 1.2 million tonnes of ore at an average feed grade of 4.58% copper. Production for the year to November 30, 2024, from Kamoa-Kakula now totals 390,061 tonnes of… Read More Here
Barrick Gold Increases Commitment to Pueblo Grande Project in Dominican Republic 27 International Gold New Mining Projects 

Barrick Gold Increases Commitment to Pueblo Grande Project in Dominican Republic

Constance
Precipitate Gold, a TSX-V-listed company, announced that Barrick Gold has amended their earn-in agreement for the Pueblo Grande project in the Dominican Republic, raising its total required work expenditures from $10 million to $22 million. This represents a 120% increase in Barrick’s financial commitment to the project, which is located next to Barrick’s Pueblo Viejo mine. As per the revised agreement, Barrick must now spend an additional $17 million to fulfill its earn-in obligations, which would grant it a 70% stake in the Pueblo Grande project. Since the original agreement… Read More Here
Bristow Faces Geopolitical Struggles as Mali's Military Junta Targets Barrick Gold 28 International Gold 

Bristow Faces Geopolitical Struggles as Mali’s Military Junta Targets Barrick Gold

Constance
Mark Bristow has spent three decades navigating civil wars and coups to build some of Africa’s richest gold mines, but now, Barrick Gold’s CEO is facing pressure from a cash-strapped Mali junta. This comes after a dispute over the division of economic benefits from the country’s largest gold mine. In 2012, when Mali’s government was overthrown, the junta allowed Bristow’s Randgold Resources to continue operations, even granting special permits for the company to fly gold bullion out of the country. However, the relationship has soured over time, and now, a… Read More Here
Panama Divided Over Future of Cobre Panamá Mine Amid Environmental and Economic Concerns 29 International Copper 

Panama Divided Over Future of Cobre Panamá Mine Amid Environmental and Economic Concerns

Constance
A recent nationwide survey in Panama has revealed strong divisions among the population regarding the potential reopening of First Quantum’s $6.5 billion Cobre Panamá copper mine, which has been closed for over a year following a presidential decree. Commissioned by ARCA Media en Direct and conducted by research firm DOXA, the survey involved 1,600 face-to-face interviews across the country, including 400 participants from communities near the mine. The results show a nation torn between concerns about environmental impacts and governance issues, and the mine’s vital economic role. The closure of… Read More Here

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