Breaking News
Vedanta ready with $250 million funding to pay KCM Creditors 1 Press Release Copper Mining in Zambia 

Vedanta ready with $250 million funding to pay KCM Creditors

Constance
Friday 5th July, 2024 Lusaka, Zambia – In a significant development, Vedanta has arranged USD 250 million funding to pay KCM Creditors as per High Court decision rendered on 28 June 2024. With Vedanta Resources’ reinstatement, Konkola Copper Mines (KCM) is poised for a new era of growth and prosperity. Vedanta Resources, the Government of the Republic of Zambia (GRZ), and ZCCM Investments Holdings Plc (ZCCM-IH) are working in close collaboration to complete all steps outlined in the transaction documents. The parties involved are demonstrating their shared commitment to KCM’s… Read More Here
BHP cuts employee incentives by 20% globally — report 2 International 

BHP cuts employee incentives by 20% globally — report

Constance
BHP (ASX, LON, NYSE: BHP), the world’s largest miner, is reportedly reducing by 20% short-term incentives offered for the 2023-24 fiscal year to all employees, the Australian Financial Review reported on Thursday. The move, according to sources quoted by AFR, comes as BHP failed to meet its internal performance targets. The company’s management attributed the reduction to failures in meeting cost and production goals in certain divisions, along with an incident that cost the life of a worker at its Saraji coal mine in Queensland in January, according to the… Read More Here
ProMarks and Trafigura sign MOU with the Angolan government 3 Angola Mining in DRC Mining in Zambia Partnership Transport and Logistics 

ProMarks and Trafigura sign MOU with the Angolan government

Constance
ProMarks, an international engineering company specialized in the energy sector and Trafigura, a market leader in the global commodities industry, yesterday signed a Memorandum of Understanding (MOU) with the Government of Angola to conduct a technical and economic viability study and to develop a Public Private Partnership model for a major regional power transmission and supply project. The signing ceremony was held in Luanda in the presence of government representatives from Angola, alongside other diplomatic guests and representatives from the private sector. The MOU was witnessed by His Excellency João… Read More Here
Ivanhoe Mines Completes Construction of Kipushi Concentrator Ahead of Schedule 4 Mining in DRC Copper Infrastructural Development Press Release 

Ivanhoe Mines Completes Construction of Kipushi Concentrator Ahead of Schedule

Constance
First ore to Kipushi concentrator achieved on May 31; first concentrate produced on June 14 Kipushi sets 2024 production guidance at between 100,000 and 140,000 tonnes of zinc in concentrate Kipushi zinc production capacity to average 278,000 tonnes per annum over first five years, making Kipushi the fourth-largest zinc mine globally Basic engineering underway to increase processing capacity of concentrator by 20% to 960,000 tonnes per annum Off-take agreements signed with CITIC Metal and Trafigura, plus $170 million in financing facilities agreed Kipushi reconfirmed as the world’s lowest carbon-emission intensive… Read More Here
UAE's IRH Withdraws Bid for Vedanta's Zambian Copper Mines 5 Copper Mining in Zambia 

UAE’s IRH Withdraws Bid for Vedanta’s Zambian Copper Mines

Constance
International Resources Holding (IRH), a subsidiary of UAE’s International Holding Company IHC.AD, has announced the withdrawal of its bid to acquire a stake in Vedanta Resources Ltd’s Zambian copper mines. The decision follows unsuccessful negotiations over the valuation of the assets, as reported by Reuters. IRH had proposed acquiring a 51% stake in Vedanta’s Konkola Copper Mines (KCM) for more than $1 billion, aiming to strengthen its copper holdings in Zambia after a recent acquisition of a 51% stake in Mopani Copper Mines. “IRH terminated the transaction discussions two months… Read More Here
South Kivu Governor Exposes Illegal Operations of Chinese Mining Companies 6 Mining in DRC 

South Kivu Governor Exposes Illegal Operations of Chinese Mining Companies

Constance
Jean-Jacques Purusi, the newly appointed governor of South Kivu province, has raised alarms over the presence of 147 Chinese-run mining companies operating illegally, many underground. In his inauguration address to provincial officials last week, Governor Purusi highlighted the concentration of these operations in the territories of Fizi, Mwenga, and Shabunda. According to Purusi, investigations by local authorities revealed that these companies possess expired permits dating back to 2013, 2014, and 2016, yet continue to operate without legal authorization. “These companies, despite their illegal status, have the capacity to produce over… Read More Here
Sandvik DRC Secures Subcontracting Rights through Local Partnership 7 Mining in DRC Mining Equipment Partnership 

Sandvik DRC Secures Subcontracting Rights through Local Partnership

Constance
Kinshasa – Sandvik DRC has secured the right to engage in subcontracting activities in the Democratic Republic of Congo (DRC) following a strategic move to open its share capital to a Congolese partner holding a majority stake of 51%. The announcement, made on Monday, July 1, 2024, by the Regulatory Authority for Subcontracting in the Private Sector (ARSP), marks a significant milestone for the mining equipment company. The memorandum of understanding signed between Sandvik DRC and ARSP, in the presence of senior executives including Managing Director Miguel Katemb Kashal and… Read More Here
Anglo American Weighs Options for Coal Business Sale Amid Mine Explosion Setback 8 International Coal 

Anglo American Weighs Options for Coal Business Sale Amid Mine Explosion Setback

Constance
Anglo American is exploring options to proceed with the sale of its coal business following an explosion at its flagship Australian mine. The company may consider selling individual assets or excluding the damaged operation from a potential deal. This sale is part of a significant restructuring program announced earlier this year by Anglo American as the London-based miner sought to fend off a takeover bid by larger rival BHP Group. The company also plans to spin off its platinum unit and either sell or separate diamond miner De Beers. Initially,… Read More Here
Glencore Halts Sale of Stake in Kazakh Mining Firm Kazzinc 9 International 

Glencore Halts Sale of Stake in Kazakh Mining Firm Kazzinc

Constance
Glencore has abandoned its plans to sell its stake in the Kazakh mining company Kazzinc after potential buyers failed to meet its valuation, according to sources familiar with the situation. Glencore, which holds a 70% stake in Kazzinc, had considered exiting the business amid interest from Chinese buyers. However, the company has now sent termination letters to the bidders, the sources said, requesting anonymity due to the private nature of the matter. A Glencore spokesperson declined to comment. Kazzinc operates a vast network of mines, concentrators, and metal finishing plants… Read More Here
ENGIE Energy Access Launches Construction of 15 Solar Mini-Grids in Zambia 10 Mining in Zambia Energy Green Energy 

ENGIE Energy Access Launches Construction of 15 Solar Mini-Grids in Zambia

Constance
ENGIE Energy Access, Africa’s leading provider of Pay-As-You-Go (PAYGO) and mini-grid solutions, has commenced the construction of 15 solar mini-grids in Zambia’s Eastern Province. This initiative is part of the transformative Increase Access to Electricity and Renewable Energy Production (IAEREP) program, supported by the 11th European Development Fund and the European Union. By expanding off-grid energy solutions in Zambia, ENGIE Energy Access aims to provide reliable electricity to underserved families and small businesses, fostering economic growth and enhancing socio-economic welfare in local communities. MySol Grid Zambia, a unit of ENGIE… Read More Here

You have successfully subscribed to the newsletter

There was an error while trying to send your request. Please try again.

Copperbelt Katanga Mining will use the information you provide on this form to be in touch with you and to provide updates and marketing.