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Zambia Urges Mining Companies to Double Power-Saving Efforts Amid Severe Drought 1 Mining in Zambia Copper Economy Electricity 

Zambia Urges Mining Companies to Double Power-Saving Efforts Amid Severe Drought

Constance
Zambia has requested mining companies, operating in Africa’s second-largest copper producer, to double their power-saving measures to 40% of their normal demand due to the worst drought in decades impacting hydroelectric power generation. Zesco Ltd., the state-owned power utility, has asked operators to either increase their power curtailments or source emergency power independently starting this month. First Quantum Minerals Ltd., which is responsible for over half of Zambia’s copper output, confirmed this request. Zesco did not respond to a request for comment. First Quantum has managed to cover more than… Read More Here
Panama vows to talk to FQM in coming months on shuttered mine 2 International Copper 

Panama vows to talk to FQM in coming months on shuttered mine

Constance
Panama’s government says it will engage with First Quantum Minerals Ltd. in the coming months to discuss the environmental impact of its shuttered copper mine. Panama’s new president, who took office earlier this month, has said that the mine may need to be temporarily reopened in order to responsibly prepare for a permanent closure. The Central American government is focusing on more pressing priorities for now, but will have discussions with First Quantum in due course, Foreign Affairs Minister Javier Martinez-Acha Vasquez said Wednesday. “From the environmental standpoint, it has… Read More Here
Anglo American Contemplates Further Diamond Production Cuts Amid Market Challenges 3 International Diamond 

Anglo American Contemplates Further Diamond Production Cuts Amid Market Challenges

Constance
Anglo American (LON: AAL) announced last week that it is considering additional cuts to diamond production due to ongoing market challenges, complicating its plans to sell its De Beers unit as part of a significant business overhaul. The restructuring plan was announced in May following the successful rebuttal of a $49 billion takeover approach from BHP (ASX: BHP), the world’s largest miner. The plan includes the sale or divestment of its 85% stake in De Beers, the world’s largest diamond producer by value, to focus on copper, iron ore, and… Read More Here
Vedanta Holdings Deposits $245.75 Million for Full Control of Konkola Copper Mines 4 Mining in Zambia Cobalt Copper Economy 

Vedanta Holdings Deposits $245.75 Million for Full Control of Konkola Copper Mines

Constance
Friday, 19th July 2024, Lusaka, Zambia – Vedanta Resources Holdings Limited (“VRHL” or “Vedanta Holdings” or “Vedanta”) yesterday confirmed the deposit of USD 245.75 million into an escrow account designated by the Hon. High Court of Zambia. This critical financial move paves the way for the imminent reinstatement of the Board of the Konkola Copper Mines (KCM) and the return of full management control to Vedanta. This transition will enable Vedanta to take the necessary steps to allow KCM to operate at its full potential, thereby contributing significantly to Zambia’s… Read More Here
CKM EMAGAZINE JULY – AUGUST 2024 EDITION (PDF FORMAT) 5 CKM eMagazine Mining in DRC Mining in Zambia 

CKM EMAGAZINE JULY – AUGUST 2024 EDITION (PDF FORMAT)

Copperbelt Katanga News
Just in case you have not yet receive the July – August 2024 edition of the CKM eMagazine, Here’s your free copy and don’t forget to share with your colleagues who might not only need this but would also benefit from the quality news and professional information provided in this special edition. The CKM eMagazine is massively distributed digitally reaching top decision makers in all the mining houses in Zambia and the DRC. We have over 110,000 followers on LinkedIn with over 62,000 CKM Newsletter subscribers with over 1,000,000 organic impressions . Our upcoming Sept-October 2024 edition will be distributed massively at Electra Mining Africa… Read More Here
Higher Q2 Production Puts Barrick On Track to Deliver 2024 Targets 6 International Gold Press Release 

Higher Q2 Production Puts Barrick On Track to Deliver 2024 Targets

Constance
Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) (“Barrick” or the “Company”) has reported preliminary Q2 production of 948 thousand ounces of gold and 43 thousand tonnes of copper, as well as preliminary Q2 sales of 956 thousand ounces of gold and 42 thousand tonnes of copper. As previously guided, Barrick’s gold and copper production in 2024 is expected to progressively increase each quarter through the year with a higher weighting in the second half. The Company remains on track to achieve our full year gold and copper guidance. The average market price for… Read More Here
Barrick Offers to Engage with Ekō 7 International Gold 

Barrick Offers to Engage with Ekō

Constance
Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) (“Barrick” or the “Company”) has extended an invitation to representatives of Ekō to engage in discussions and visit specific mine sites referenced in their recent allegations concerning Barrick’s portfolio. The Company aims to facilitate a direct dialogue with Ekō to comprehensively understand the basis of their concerns. Barrick intends for these site visits to provide Ekō with firsthand access to factual data and ground realities. Through this initiative, Barrick seeks to correct what it perceives as misinformed and inaccurate statements about its operations. During the visits,… Read More Here
Sinomine Resources Expands Global Reach with Strategic Acquisitions in Namibia and Zambia 8 Mining in Zambia Mergers & Acquisitions Mining in DRC 

Sinomine Resources Expands Global Reach with Strategic Acquisitions in Namibia and Zambia

Constance
Founded in 1999, Sinomine Resources Group Co., Ltd. has rapidly expanded its operations across more than 40 countries and regions spanning Asia, Africa, Europe, America, and Oceania. With branches in key locations such as China, Canada, the United States, the United Kingdom, Norway, Zimbabwe, the Democratic Republic of the Congo (DRC), and Zambia, the company has established a robust international presence. In March 2024, Sinomine (Hong Kong) Rare Metals Resources Co., Ltd., a wholly-owned subsidiary, completed the acquisition of the Tsumeb smelter from Dundee Precious Metals Inc. This acquisition, valued… Read More Here
Kagem delivers ZMW 38 million (USD 1.5 million) dividend to the IDC 9 Mining in Zambia Gemstones 

Kagem delivers ZMW 38 million (USD 1.5 million) dividend to the IDC

Constance
Kagem Mining Limited (Kagem) has handed over ZMW 38 million (USD 1.5 million) to the Industrial Development Corporation (IDC).The funds represent dividends from 2023 to the government’s investment arm, which owns 25% of the shares in what is believed to be the world’s largest producing emerald mine, and underscore Kagem’s ongoing commitment to contribute to Zambia’s economic development. The handover highlights Kagem’s continued dedication to striving towards responsible mining practices and transparent financial management and reinforces the company’s commitment to adhering to the ‘G-Factor for Natural Resources’ model championed by… Read More Here
DRC Govt Seeks Bank Financing to Address Critical Petroleum Supply Shortages 10 Mining in DRC Oil & Gas 

DRC Govt Seeks Bank Financing to Address Critical Petroleum Supply Shortages

Constance
The Democratic Republic of Congo (DRC) continues to face significant challenges in resupplying petroleum products, posing a major headache for the government. During the 5th meeting of the Council of Ministers on Friday, July 12, 2024, VPM and Minister of National Economy Daniel Mukoko Samba revealed that oil companies are threatened by stock shortages. He requested government authorization to conduct a second drawing with commercial banks to mitigate the potential harm to the Congolese population. “The information in his possession indicates that the stock level of petroleum products of commercial… Read More Here

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