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China’s Copper Demand to Peak by 2030 Amid Economic Shifts 20 Copper International 

China’s Copper Demand to Peak by 2030 Amid Economic Shifts

Constance
A state-backed researcher forecasts that China’s copper demand will peak around the end of this decade, signaling a potential shift away from the bullish outlook traditionally associated with copper. Beijing Antaike Information Development Co. projects strong demand from the renewables sector—an area copper advocates often highlight. However, a slowing Chinese economy and an increasing shift toward aluminum in some applications may temper future copper demand. According to Antaike analyst Yang Changhua, copper demand in China is expected to grow at an annual average of 1.1% over the five years leading… Read More Here
ERB Confirms Zambia's Fuel Stocks Are Sufficient Amid Nationwide Distribution Efforts 21 Mining in Zambia Oil & Gas Petroleum 

ERB Confirms Zambia’s Fuel Stocks Are Sufficient Amid Nationwide Distribution Efforts

Constance
The Energy Regulation Board (ERB) has assured that Zambia currently holds sufficient petroleum stock levels, addressing recent fuel shortages experienced in parts of the country. According to ERB, logistical issues related to cross-border fuel transportation have been the primary cause of these localized shortages. To mitigate this, the ERB has temporarily eased movement restrictions on Petroleum Road Tank Vehicles to facilitate more efficient fuel deliveries and reduce supply gaps. ERB Director General, Elijah Sichone, reported that the nation has 35.8 million liters of diesel and 8.9 million liters of petrol… Read More Here
Falling Cobalt Prices Force DRC Artisanal Miners to Shift to Less Profitable Copper 22 Mining in DRC Cobalt Copper 

Falling Cobalt Prices Force DRC Artisanal Miners to Shift to Less Profitable Copper

Constance
Cobalt prices have plummeted over the last three years, dropping by two-thirds—a severe blow for the Democratic Republic of Congo (DRC), the world’s leading cobalt producer with the largest global reserves. This price slump has forced many artisanal miners to abandon cobalt mining, with some turning to copper despite its limited profitability. In Kolwezi’s Kamilombe artisanal mine, under a corrugated shed, 39-year-old miner Guelord Kongolo prepares raw cobalt for sale. “The activity here has slowed down; it’s not like it used to be,” says Kongolo, who supports four children. Faced… Read More Here
BRICS Expands to Include New African Partners 23 International Economy 

BRICS Expands to Include New African Partners

Constance
South Africa has long stood as Africa’s sole representative within BRICS, the alliance comprising Brazil, Russia, India, China, and South Africa. However, at the recent BRICS summit, the alliance announced the addition of 13 new nations as partners, including three African countries, marking a significant shift in its influence and reach. BRICS has been rapidly expanding over the past two years, aiming to reshape the global economic landscape. Together, BRICS members represent 42% of the world’s population, 30% of the global landmass, and 24% of the global economy. This expansion… Read More Here
Mali Accuses Barrick Gold of Violating Agreement Amid Revenue Negotiations 24 Gold Corporate News International 

Mali Accuses Barrick Gold of Violating Agreement Amid Revenue Negotiations

Constance
Mali has accused Barrick Gold of failing to meet commitments made in a recent agreement. The Canadian mining company, which operates the Loulo-Gounkoto gold mines in Mali, denied any wrongdoing on Thursday. Barrick, the world’s second-largest gold miner, announced on September 30 that it had reached an agreement with Mali’s government to settle disputes over the Loulo and Gounkoto mines. This announcement followed the brief detention of four Malian employees by authorities. However, in a joint statement dated October 23, Mali’s economy and mines ministries claimed Barrick had not fulfilled… Read More Here
ERG Releases Sustainable Development Report for the year 2023 25 Corporate News 

ERG Releases Sustainable Development Report for the year 2023

Constance
Eurasian Resources Group (“ERG”, or “The Group”), a leading diversified natural resources group headquartered in Luxembourg, publishes its Sustainable Development Report for 2023. The report provides information about ERG’s key business development projects and sustainability achievements and explains how the Group is delivering value to society as a whole. The report also showcases ERG’s actions to drive value chain assurance and promote robust ESG standards, supporting responsible production of the critical minerals needed for the green energy transition. In 2023, ERG continued to demonstrate business resilience against a challenging geopolitical… Read More Here
FQM in Talks for Potential Partnerships on Zambian Assets 26 Copper Mining in Zambia Nickel 

FQM in Talks for Potential Partnerships on Zambian Assets

Constance
First Quantum Minerals, the Canadian mining company, is in discussions with potential partners regarding its Zambian copper and nickel assets, though it has not disclosed the names of the firms involved. Last week, Reuters reported that Saudi Arabia’s Manara Minerals was nearing a deal to acquire a minority stake in these Zambian assets, citing sources familiar with the matter. “We are open to partnerships, including in Zambia, but only if it benefits our Zambian operations, the government, and all stakeholders,” First Quantum CEO Tristan Pascall said during a conference call… Read More Here
Zambia Aims for Major Copper Output Boost Through Investor Partnerships 27 Mining in Zambia Economy 

Zambia Aims for Major Copper Output Boost Through Investor Partnerships

Constance
Zambia is set to enhance its copper output by developing numerous mining licenses in collaboration with investors. The country aims to more than quadruple its production by the early next decade, a goal that will require significant financial investment to advance early-stage projects into operational mines. In an interview, Jito Kayumba, special assistant for finance and investment to President Hakainde Hichilema, stated that over 40 permits reserved by the Mines Ministry will be transferred to a state-owned company. This entity will negotiate partnerships with private investors, maintaining significant minority, non-operational… Read More Here
Konkola Copper Mines Reports Second Fatality at Nchanga Mine 28 Mining in Zambia Copper Mining safety 

Konkola Copper Mines Reports Second Fatality at Nchanga Mine

Constance
CHINGOLA, 21 October 2024: Konkola Copper Mines Plc (KCM) deeply regrets to announce a second fatality at its Nchanga mine. Mr. Stephen Daka, a 38-year-old dump truck driver employed by GRN Mining Contractor, tragically lost his life at the Chingola Open Pit (COP, F&D) operations on Monday, 21 October 2024, around 13:00 hours. Mr. Daka’s body was discovered by the mine’s investigation team a few meters from the dump truck he had been operating. The circumstances leading to the accident are currently under investigation. KCM’s management has expressed its heartfelt… Read More Here
Soleos Energy and Melci to Build 200 MW Solar Power Project in DRC’s Haut-Katanga 29 Mining in DRC Energy 

Soleos Energy and Melci to Build 200 MW Solar Power Project in DRC’s Haut-Katanga

Constance
Soleos Energy, an Indian renewable energy developer, is partnering with Melci, a Democratic Republic of Congo (DRC) electrical engineering company, to build a 200 MW solar photovoltaic (PV) power plant in the Haut-Katanga province. The $200 million project, located in the village of Fipango in Kipushi territory, aims to support the DRC’s renewable energy goals by providing clean electricity to over one million residents while contributing to economic growth and reducing carbon emissions. The solar power plant is projected to generate approximately 350 million kilowatt-hours of electricity annually, cutting CO2… Read More Here

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