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Zambia's Copper Production Set to Surge by 2027 1 Copper Economy Mining in Zambia Uncategorized 

Zambia’s Copper Production Set to Surge by 2027

Constance
Zambia’s annual copper production is projected to grow by more than 40% to reach 1 million tons by 2027, according to the country’s Finance Ministry. As Africa’s second-largest copper producer, Zambia aims to capitalize on the anticipated supply shortfall driven by the energy transition, which is increasing demand for copper in electric vehicles and wind farms. In 2023, Zambia’s copper output fell to a 14-year low of 698,566 tons due to frequent tax changes and conflicts with the previous government. However, the Ministry of Finance and National Planning’s medium-term budget… Read More Here
FQM launches standstill deal with Chinese shareholder 2 International Copper 

FQM launches standstill deal with Chinese shareholder

Constance
First Quantum Minerals Ltd. reached an agreement with Jiangxi Copper Co Ltd., its second-largest shareholder, that limits the Chinese firm’s ownership of the Canadian copper producer. First Quantum said Tuesday that the shareholder rights agreement prevents Jiangxi from buying more stock in t company or selling a shares block of 5% or larger without First Quantum’s consent. The three-year agreement also gives Jiangxi the right to nominate one person for consideration by First Quantum’s governance committee to the board of directors. The agreement follows efforts by Canada’s government to crack… Read More Here
Vedanta Resources Seeks Partners to Boost Zambian Copper Output 3 Mining in Zambia Copper 

Vedanta Resources Seeks Partners to Boost Zambian Copper Output

Constance
Vedanta Resources Ltd., founded by billionaire Anil Agarwal, is seeking business partners to enhance production at its Zambian copper assets. This move follows the company’s regaining control of these assets after years of legal disputes. As part of a $1 billion investment plan for the Konkola Copper Mines (KCM) assets, Vedanta is looking for partners to engage in exploration, development, and production. The call for expressions of interest was announced in the state-owned Times of Zambia newspaper, with a deadline of July 31. Vedanta lost control of KCM in 2019… Read More Here
African Nations Boost Gold Reserves Amid Geopolitical Tensions 4 International Gold 

African Nations Boost Gold Reserves Amid Geopolitical Tensions

Constance
African nations are increasingly building their gold reserves to hedge against geopolitical tensions that have weakened their currencies and fueled inflation. Countries such as South Sudan, Zimbabwe, and Nigeria have either taken steps to increase their holdings or are considering doing so. This move aligns with central banks in China and India, which have accumulated gold to diversify reserves and reduce dependency on the US dollar. A World Gold Council survey indicates that about 20 central banks globally are expected to increase their gold reserves in the coming year. “As… Read More Here
Peak Rare Earths and Shenghe Forge Partnership to Develop Tanzanian REE Project 5 International Rare Earth Minerals 

Peak Rare Earths and Shenghe Forge Partnership to Develop Tanzanian REE Project

Constance
Australia’s Peak Rare Earths has signed a non-binding term sheet with Chinese miner Shenghe Resources to support the development and funding of the Ngualla rare earth elements (REE) project in Tanzania. The agreement outlines Shenghe’s plan to acquire a 50% stake in the entity that holds an effective 84% interest in the Ngualla project by subscribing for new shares worth AUD 96 million. This valuation implies a post-transaction share price of AUD 0.36, which Peak notes is more than double its current share price on the ASX. Upon completion, Peak… Read More Here
Vedanta seeks $1 billion in upsized share placement 6 International 

Vedanta seeks $1 billion in upsized share placement

Constance
Vedanta Ltd., the Indian mining company controlled by billionaire Anil Agarwal, is seeking to raise about $1.02 billion through an upsized share sale to institutional investors. Vedanta is offering about 193.2 million shares, up from 114 million previously, according to terms of the deal obtained by Bloomberg News. Shares of the company are being offered at a floor price of 440 rupees apiece, the terms show. Vedanta is joining a slew of Indian companies tapping stock investors amid surging valuations and increasing demand for equity investments in the country. India… Read More Here
First Quantum Declares Commercial Production at Enterprise Nickel Project 7 Mining in Zambia Battery Metals Nickel Press Release 

First Quantum Declares Commercial Production at Enterprise Nickel Project

Constance
First Quantum Minerals Ltd. (“First Quantum” or the “Company”) (TSX: FM) declared commercial production as of June 1, 2024 at the Enterprise nickel mine, located 12km away from the company’s Sentinel copper mine in the North Western Province of Zambia. First Quantum built, commissioned and delivered commercial operation in just over two years – another successfully executed project that demonstrates the company’s approach to delivering sustainable growth. Two years ago, First Quantum approved the Enterprise project – alongside the S3 Expansion project at Kansanshi – following a commitment made by… Read More Here
Sandfire Successfully Commissions New Filter Press at Motheo Copper Mine 8 International Copper 

Sandfire Successfully Commissions New Filter Press at Motheo Copper Mine

Constance
Sandfire has successfully commissioned a new permanent filter press at the Motheo Copper Mine in Botswana. During the initial ramp-up of the Motheo process plant in the September Quarter of 2023, the original equipment manufacturer (OEM) filter press installed during construction failed to meet design parameters. In response, an interim solution using mobile filter units was implemented, enabling the safe ramp-up of copper concentrate production at planned rates and specifications. An $8 million capital investment secured the procurement, installation, and commissioning of a Larox filter press to support the long-term… Read More Here
FQM Partners with Zambian Police to Enhance Security and Uphold Human Rights 28 Mining in Zambia 

FQM Partners with Zambian Police to Enhance Security and Uphold Human Rights

Constance
First Quantum Minerals Limited (FQM), through its Trident Foundation, and the Zambia Police School of Public Order Maintenance, celebrated the graduation of 40 security personnel and community members who completed a human rights and law enforcement training programme last week. The guest of honour, North Western Province Deputy Permanent Secretary Tikki Mulofwa, commended FQM for its commitment to upholding human rights and partnering with the government to develop communities. “This initiative is a model for other companies to follow. Security services play a vital role in maintaining order, but it’s… Read More Here

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