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DRC Raises $65.57 Million in Treasury Bond Auction to Support National Projects 20 Mining in DRC Economy 

DRC Raises $65.57 Million in Treasury Bond Auction to Support National Projects

Constance
The Government of the Democratic Republic of Congo (DRC) raised $65.57 million through a local Treasury Bond auction held on November 19, 2024, as announced by Minister of Finance, Doudou Fwamba. The auction, which attracted six bidders, including banks and credit companies, saw a coverage rate of 65.57%, falling short of the initial $100 million target. Despite not reaching the full target, the Minister emphasized that the funds raised are critical to supporting national projects and maintaining the country’s economic stability. The bonds issued carry an interest rate of 9%… Read More Here
Kamoa Copper Leads New Era of Sustainable Mining and Economic Development at Makutano Forum 21 Corporate News Events & Expos Mining in DRC 

Kamoa Copper Leads New Era of Sustainable Mining and Economic Development at Makutano Forum

Constance
Kamoa Copper SA participated in the 10th edition of the Makutano Forum in Kinshasa, DRC, from November 13 to 15. As a co-sponsor of the event, the company showcased its vision for the future of mining in the Democratic Republic of Congo (DRC), presenting its “New Deal” for the industry as a model of progress and sustainability. With over $5.5 billion invested over the past five years, Kamoa Copper’s scale and copper production have made a significant impact on the national mining sector. Beyond its size, the company has driven… Read More Here
Barrick Gold Boosts Growth with Strong Portfolio and Strategic Investments 22 International Corporate News Gold 

Barrick Gold Boosts Growth with Strong Portfolio and Strategic Investments

Constance
Barrick Gold Corporation (NYSE: GOLD) (TSX: ABX) is making significant strides toward securing its future with a Tier One-focused asset portfolio and a strategy that continually uncovers value while fostering productive partnerships with host countries. At an investor presentation in New York, president and CEO Mark Bristow highlighted Barrick’s achievements since its merger, including generating $23 billion in operating cash flow, investing $15 billion in operations and growth projects, reducing net debt by nearly $4 billion, and returning over $5 billion to shareholders. “Our world-class projects are set to drive… Read More Here
Barrick’s Fourmile Project Shows Further World-Class Potential 23 International Corporate News Gold 

Barrick’s Fourmile Project Shows Further World-Class Potential

Constance
Barrick Gold Corporation has updated its mineral resource estimate for its wholly-owned Fourmile project in Nevada, resulting in a 192% increase in indicated resources (1.4 million ounces grading 11.76g/t), a 137% increase in inferred resources (6.4 million ounces grading 14.1g/t) and a 35% increase in grade relative to Barrick’s 2023 year-end mineral resource estimate.1 The increases reflect the addition of 25 new drill holes to the 2023 mineral resource estimate across the southernmost portion of the orebody, immediately adjacent to the Goldrush project at Cortez which is part of the… Read More Here
Kavango Plans to Boost Gold Production at Zimbabwe's Prospect 4 24 International Gold New Mining Projects 

Kavango Plans to Boost Gold Production at Zimbabwe’s Prospect 4

Constance
London-listed Kavango Resources is focusing on increasing high-grade gold production at Prospect 4 within its Hillside project in Matabeleland, southern Zimbabwe. Currently, high-grade gold is being extracted by contract miners on a small scale at Prospect 4. The material is then trucked 20 km to Kavango’s processing facility at the main Hillside site. However, production is limited due to the mining methods, the long distance to the processing plant, and the facility’s capacity, which can only process 40-50 tons per day (t/d). Given the current low production volumes, Kavango sees… Read More Here
BHP Invests Billions in Chilean Mines to Tackle Global Copper Shortage 25 International Copper Corporate News 

BHP Invests Billions in Chilean Mines to Tackle Global Copper Shortage

Constance
BHP Group, the world’s largest mining company, anticipates a global copper shortage of 10 million metric tons by 2035. This looming deficit has prompted the company to commit between $10.7 billion and $14.7 billion over the next decade to boost copper production at its operations in Chile, including the world’s largest copper mine, Escondida. BHP plans significant investments in Escondida and the smaller Spence mine, alongside a restart of the Cerro Colorado mine. The company’s copper output is expected to decline by 300,000 tons to 1.6 million tons annually by… Read More Here
Panama’s New President Criticizes Past Mismanagement of Cobre Panama Crisis 26 International Copper 

Panama’s New President Criticizes Past Mismanagement of Cobre Panama Crisis

Constance
Panama’s President José Raúl Mulino has condemned the previous administration for mishandling the crisis surrounding First Quantum Minerals’ $6.5 billion Cobre Panama copper mine. The mine, which accounts for nearly 5% of Panama’s GDP, was shut down in 2023 after the Supreme Court deemed its concession contract unconstitutional. Mulino blamed the closure on widespread dissatisfaction with former President Laurentino Cortizo’s government, which had faced mounting protests over legal and environmental concerns tied to the project. “The mine paid the price for national discontent under a government with only 25% popularity,”… Read More Here
Gécamines Seeks to Block Chemaf Sale to China 27 Mining in DRC Cobalt Copper Corporate News 

Gécamines Seeks to Block Chemaf Sale to China

Constance
The Democratic Republic of Congo’s state mining company, Gécamines, has submitted a $1 million bid to acquire the cobalt and copper assets of financially troubled Chemaf. This move seeks to prevent further Chinese control of critical metals in the mineral-rich country, according to sources close to the matter. Chemaf, a partner of global commodities trader Trafigura, had previously agreed to sell its assets to China’s state-owned industrial giant, Norinco, in June 2024. These assets include copper and cobalt mines critical for electric vehicles and clean energy infrastructure. However, Gécamines, which… Read More Here
Gemfields' November Emerald Auction Nets $16.1 Million Amid Market Challenges 28 Mining in Zambia Corporate News Emeralds 

Gemfields’ November Emerald Auction Nets $16.1 Million Amid Market Challenges

Constance
Gemfields has reported revenues of $16.1 million from its November 2024 higher-quality emerald auction. The auction, held online from November 4–21, achieved a 70% sales rate, with 141,084 carats sold out of the 200,460 carats offered across 43 lots. The average price per carat was $113.96, reflecting mixed market dynamics. Adrian Banks, Managing Director of Product & Sales at Gemfields, acknowledged the auction’s mixed outcomes: “Top-quality lots achieved bids close to record levels, but the overall result was disappointing due to weaker and fewer bids for lower-quality grades.” The emerald… Read More Here
FQM Empowers Local Businesses with Over K3.4 Million in Grants 29 Mining in Zambia Corporate News 

FQM Empowers Local Businesses with Over K3.4 Million in Grants

Constance
First Quantum Minerals (FQM), through its Kansanshi Mining operations, has disbursed over K3.4 million in grants to 13 cooperatives under the Tujipamo Multi-Purpose Project. This initiative underscores FQM’s commitment to fostering local economic development and sustainable community growth. Launched in 2022, the Tujipamo Project aims to empower small businesses and enhance socio-economic resilience. The grants will provide essential support for cooperatives, enabling them to scale their operations and drive long-term impact. Speaking at the grant handover ceremony, North-Western Province Permanent Secretary, Colonel Grandson Katambi (Rtd), commended FQM for partnering with… Read More Here

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