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Non Ferrous Company to Create 2,400 Jobs with $600 Million Expansion in Kalulushi 1 Mining in Zambia Copper 

Non Ferrous Company to Create 2,400 Jobs with $600 Million Expansion in Kalulushi

Constance
Non Ferrous Company Africa (NFCA) Mining Limited is poised to create approximately 2,400 jobs through the expansion of its South East Ore Body project in the Kalulushi District of Copperbelt Province. The company has committed a substantial investment of $600 million for this significant development. During a media tour in Chambeshi, NFCA Chairperson Zhanyan Li outlined the ambitious plans, stating, “This expansion will boost our copper production to 110,000 tonnes per year.” He further highlighted the economic benefits, noting that the project is expected to generate $36.15 million in taxes… Read More Here
DRC Govt Commits to Transparency in Management of Sino-Congolese Project Funds 2 Mining in DRC 

DRC Govt Commits to Transparency in Management of Sino-Congolese Project Funds

Constance
The Congolese government has expressed its commitment to enhancing transparency and good governance in the management of funds associated with Sino-Congolese projects. This announcement was made by Minister of Finance Doudou Fwamba Likunde Li-Botayi during a meeting with key players in the Congolese financial sector. During the meeting, participants reviewed recommendations from the International Monetary Fund (IMF) aimed at improving the management of resources stemming from an amendment signed between the Democratic Republic of Congo (DRC) and a consortium of Chinese companies involved in the Sicomines project. The Ministry of… Read More Here
Paladin Energy Celebrates First Uranium Shipment from Langer Heinrich Mine in Namibia 3 International Uranium 

Paladin Energy Celebrates First Uranium Shipment from Langer Heinrich Mine in Namibia

Constance
Paladin Energy announced on July 22 that it has successfully completed its first shipment of uranium since the restart of its Langer Heinrich mine in Namibia. A cargo of 319,229 pounds of uranium departed from the port of Walvis Bay on July 12, destined for customers. The Langer Heinrich mine resumed commercial production on March 30, 2024, following a maintenance and servicing period that began in May 2018 due to low global uranium prices. The company is on track to meet its fiscal year 2025 targets, with the mine having… Read More Here
NGOs and Multinationals Launch Campaign Against DRC's Subcontracting Reform Efforts 4 Mining in DRC 

NGOs and Multinationals Launch Campaign Against DRC’s Subcontracting Reform Efforts

Constance
Non-governmental organizations (NGOs) and some multinationals dissatisfied with the growing support for the Congolese Head of State’s initiative to enforce the subcontracting law have allegedly initiated a campaign to undermine the efforts of Miguel Kashal, Director General of the Regulatory Authority for Subcontracting in the Private Sector (ARSP). In a recent press release, the ARSP management denounced what it called a “cabal mounted against Miguel Kashal.” The statement emphasized that these NGOs are resisting the economic independence movement spearheaded by President Félix Tshisekedi through the promotion of subcontracting. This initiative… Read More Here
IEA Forecasts 35% Increase in Global Electricity Supply by 2025 5 International Electricity 

IEA Forecasts 35% Increase in Global Electricity Supply by 2025

Constance
The International Energy Agency (IEA) projects a 35% increase in global electricity supply by 2025, up from 30% in 2023, according to its latest report published this month. The report indicates a gradual decrease in dependence on coal, which is expected to decline from 36% to 33% during the same period. Titled “Electricity Mid-Year Update,” the report highlights the significant role of solar photovoltaic (PV) and wind power in this energy transformation. Their combined share in the global electricity mix is anticipated to rise from 13% in 2023 to 15%… Read More Here
Uganda’s Gold Trade Strengthens Import Ties with Tanzania 6 Gold International Mining in Uganda 

Uganda’s Gold Trade Strengthens Import Ties with Tanzania

Constance
Tanzania has emerged as Uganda’s primary import partner within the East African Community (EAC), driven by Uganda’s significant gold trade worth close to $3 billion. Uganda imports unrefined gold, refines it, and then sells the refined product to markets in the EAC, Asia, the EU, and beyond. According to Uganda’s Ministry of Finance, Uganda now imports more goods from Tanzania than from any other East African nation. The Ministry’s Performance of the Economy report for June revealed that, in the 12 months leading up to May, 83% of all products… Read More Here
Botswana Proposes New Law Requiring Local Stake in Mining Operations 7 International Diamond 

Botswana Proposes New Law Requiring Local Stake in Mining Operations

Constance
Botswana is proposing a new law that mandates mining companies to sell a 24% stake in their operations to local citizens or citizen-owned companies once a license is granted, should the government choose not to exercise its option to acquire the shareholding. Botswana, renowned for its rich natural resources, particularly diamonds, saw its diamond production valued at $3.28 billion in 2023, making it the leading diamond producer in Africa and the second globally, only behind Russia, which had a production value of $3.60 billion. The proposed amendment to the existing… Read More Here
Anglo American Lowers Coal Production Guidance Following Grosvenor Mine Fire 8 International Coal 

Anglo American Lowers Coal Production Guidance Following Grosvenor Mine Fire

Constance
Diversified major Anglo American has revised its coal production guidance for the year due to the impact of a recent fire at the Grosvenor underground mine in Australia. As a result of the incident, Anglo has lowered its steelmaking coal production forecast to between 14 million and 15.5 million tonnes, down from the previous guidance of 15 million to 17 million tonnes. The fire, which occurred at the end of June, led to a suspension of production at Grosvenor. According to a statement released by Anglo on Thursday, efforts are… Read More Here
US Official Insists Gertler's Congo Royalties Must Go to Government 9 Mining in DRC 

US Official Insists Gertler’s Congo Royalties Must Go to Government

Constance
A senior US official stated that any deal to ease sanctions on billionaire mining magnate Dan Gertler must include transferring his royalties in the Democratic Republic of Congo (DRC) to the country’s government. Amos Hochstein, a senior White House adviser on energy and investment, emphasized in an interview that lifting the sanctions is crucial to attracting new investments that align with US interests and benefit the DRC, with the option to reimpose sanctions if necessary. “The royalties that he has should be in the hands of the government of the… Read More Here
Panamanian President Delays Addressing FQM Copper Mine Issues Until 2025 10 International Copper 

Panamanian President Delays Addressing FQM Copper Mine Issues Until 2025

Constance
Panamanian President Jose Raul Mulino announced on Thursday that the government will not address issues surrounding the shuttered First Quantum copper mine until early 2025. The Cobre Panama mine, one of the world’s largest copper sources, was closed in November after Panama’s Supreme Court declared its contract unconstitutional. First Quantum had been granted a 20-year mining right with an option to extend for another 20 years, in exchange for $375 million in annual revenue to Panama. Critics argued the contract was too favorable to the company, and environmental protests against… Read More Here

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