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Global Copper Demand to Surge by 75% by 2050 1 International Copper Economy 

Global Copper Demand to Surge by 75% by 2050

Constance
Copper demand is projected to soar by 75%, reaching 56 million tonnes by 2050, according to a new report from data analytics firm Wood Mackenzie. This sharp increase will necessitate significant investment and strategic changes in the global supply chain, particularly as major economies seek to reduce reliance on China. Copper plays a critical role in electrification and decarbonization, making it indispensable for the global energy transition. However, China currently dominates the copper supply chain, including mining, downstream processing, and semi-manufacturing. As countries look to diversify supply chains away from… Read More Here
Neo Energy Metals Expands Uranium and Gold Portfolio with Beisa Mine Acquisition 2 International Gold Mergers & Acquisitions Uranium 

Neo Energy Metals Expands Uranium and Gold Portfolio with Beisa Mine Acquisition

Constance
Neo Uranium Resources Beisa Mine (NURB), a subsidiary of South Africa- and London-listed Neo Energy Metals (NEO), has signed a binding agreement to acquire the Beisa North and Beisa South uranium and gold projects in the Witwatersrand Basin, Gauteng, from Sunshine Mineral Reserve. The Beisa North and South projects contain resources of 90.24 million pounds of triuranium octoxide (U3O8) and 4.17 million ounces of gold. These projects are located immediately north and south of the former high-grade Beisa uranium mine and are adjacent to the existing multimillion-ounce gold mining operations… Read More Here
Perenti Secures Three-Year Contract with Barrick Gold for Hemlo Mine Operations 3 International Gold 

Perenti Secures Three-Year Contract with Barrick Gold for Hemlo Mine Operations

Constance
ASX-listed Perenti has announced that its underground mining division, Barminco, has signed a three-year contract with Barrick Gold to continue providing mining services at the Hemlo gold mine in Canada. Located 350 km east of Thunder Bay in Ontario, Hemlo has been in production since 1989. Barrick transitioned the operation to a contract mining model in 2019, with Barminco serving as the primary underground contractor since then. The new contract covers an initial 36-month period and includes two optional 12-month extensions, which could extend Barminco’s involvement at Hemlo until 2029.… Read More Here
Ivanhoe Electric Completes Full Acquisition of Santa Cruz Copper Mineral Rights 4 International Copper Mergers & Acquisitions 

Ivanhoe Electric Completes Full Acquisition of Santa Cruz Copper Mineral Rights

Constance
PHOENIX, ARIZONA – Ivanhoe Electric Inc. (“Ivanhoe Electric”, the “Company” or “IE”) (NYSE American: IE; TSX: IE) Executive Chairman Robert Friedland and President and Chief Executive Officer Taylor Melvin have announced that the Company, through its wholly-owned subsidiary Mesa Cobre Holding Corporation (“Mesa Cobre”), completed the final US$10 million payment to exercise its option to acquire 100% ownership of the mineral rights at the Santa Cruz Copper Project in Arizona. Following this transaction, Ivanhoe Electric now owns 100% of the mineral and surface rights for the Santa Cruz Copper Project.… Read More Here
Jubilee Metals Achieves First Copper Concentrate Production from Roan Facility in Zambia 5 Mining in Zambia Copper 

Jubilee Metals Achieves First Copper Concentrate Production from Roan Facility in Zambia

Constance
Jubilee Metals, a diversified metals producer, has announced the successful production of its first copper concentrate from the front-end module at the Roan concentrator facility in Zambia. This newly produced copper concentrate, derived from previously mined material at Roan, will be refined into copper cathode at Jubilee’s Sable refinery, also located in Zambia. In addition to this, the Roan facility continues to produce sulphide copper concentrate from its mill-and-float circuit, which is currently being traded on the market. The front-end module is set to ramp up production during the third… Read More Here
Key Projects Advance as Barrick Keeps Tight Focus on Value Creation and Growth 6 Gold International Press Release 

Key Projects Advance as Barrick Keeps Tight Focus on Value Creation and Growth

Constance
TORONTO – Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) has reported increased earnings and production for its second quarter, in line with guidance, and said the Company was on track for a strong second half of the year. Net earnings1 were up 25% and the attributable EBITDA margin2 was up 17% quarter on quarter to 48% with strong operating cash flows of $1.16 billion and a material increase in free cash flow3 to $340 million. Net earnings per share were up 24% to $0.21, adjusted net earnings per share3 increased by 68% to $0.32, and the quarterly dividend was… Read More Here
Barrick Declares Q2 Dividend and Buys Back Shares 7 International Gold Press Release 

Barrick Declares Q2 Dividend and Buys Back Shares

Constance
TORONTO – Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) today announced the declaration of a dividend of $0.10 per share for the second quarter of 2024. The dividend is consistent with the Company’s Performance Dividend Policy announced at the start of 2022. The Q2 2024 dividend will be paid on September 16, 2024 to shareholders of record at the close of business on August 30, 2024. In addition to the dividend, Barrick repurchased 2.95 million shares during the second quarter under the $1 billion share buyback program that was announced in February 2024. “The continued… Read More Here
DRC Govt's Fuel Subsidies Keep Prices Low but Rack Up Significant Debt 8 Mining in DRC Oil & Gas Petroleum 

DRC Govt’s Fuel Subsidies Keep Prices Low but Rack Up Significant Debt

Constance
Deputy Prime Minister and Minister of National Economy, Daniel Mukoko Samba, disclosed on Monday during a joint press conference with Minister of Communication and Media, Patrick Muyaya, that the Congolese government is heavily subsidizing petroleum product prices to keep them affordable for the population. “Currently, a liter of gasoline costs 3,475 Congolese francs and diesel 3,465 francs. However, when you purchase a liter of fuel, you’re only paying a fraction of its actual cost. The government covers the rest,” said Mukoko Samba. He explained that the subsidy ranges from 2,100… Read More Here
Rising Tin and Gold Prices Signal Economic Boost for the DRC 9 Gold Mining in DRC Tin 

Rising Tin and Gold Prices Signal Economic Boost for the DRC

Constance
The Democratic Republic of Congo (DRC), whose economy heavily depends on raw material exports, received a positive boost this week as tin prices saw a 0.92% increase on the international market. According to the Ministry of Foreign Trade, tin is now trading at $29,533.75 per tonne, up from $29,264.00 the previous week. Additionally, gold prices also rose, climbing from $77.25 to $78.58 per gram as of August 12. These price increases come after a period of relative stability in the international markets. Given the DRC’s reliance on mining exports, such… Read More Here
Jinteng Mining Challenges Canada’s National Security Review of Peru Gold Mine Acquisition 10 Gold International Mergers & Acquisitions 

Jinteng Mining Challenges Canada’s National Security Review of Peru Gold Mine Acquisition

Constance
Jinteng Mining, a subsidiary of China’s Zijin Mining Group, has filed for a judicial review against the Canadian government’s decision regarding its acquisition of a gold mine in Peru. The move comes after Jinteng purchased Pan American Silver’s gold asset in Peru for $245 million in May, with an option for an additional $50 million payment. The challenge is directed at Canadian Minister François-Philippe Champagne’s order for a national security review of the deal, as reported by the Canadian Press. The judicial review was filed in late July in the… Read More Here

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