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Rising Trends in DRC Mining Export Prices: May 27 - June 1, 2024 1 Mining in DRC Cobalt Copper 

Rising Trends in DRC Mining Export Prices: May 27 – June 1, 2024

Constance
The prices of mining export products from the Democratic Republic of Congo experienced an upward trend during the week of May 27 to June 1, 2024, according to projections by experts from the National Mercurial Commission of the Ministry of Trade. The only exception was cobalt, which saw a slight decrease, falling to $27,438 per tonne from $27,467 per tonne the previous week, marking a drop of $29. Copper prices, on the other hand, continued to improve, trading at $10,556 per tonne this week compared to $9,994 per tonne last… Read More Here
APLC Calls for Regional Treaty to Combat Illicit Mineral Exploitation in DRC 2 Mining in DRC 

APLC Calls for Regional Treaty to Combat Illicit Mineral Exploitation in DRC

Constance
The Agency of the Presidency of the Republic in charge of the Prevention and Fight against Corruption (APLC) has called on its East African counterparts to collaborate on developing a regional treaty for recovering assets from illicit financial flows related to the fraudulent exploitation of mineral resources in the Democratic Republic of Congo (DRC). This appeal, issued by the APLC communications unit on May 29, 2024, follows the Regional Conference of the East Africa Anti-Corruption Platform. The conference, organized by the United Nations Office on Drugs and Crime in collaboration… Read More Here
Traders are desperate for copper deals and miners are cashing in 3 International Copper 

Traders are desperate for copper deals and miners are cashing in

Constance
A heated competition for copper among some of the biggest commodity traders is creating opportunities for miners to negotiate favorable terms ranging from huge upfront payments to extra-long contracts. Recent moves by cash-flush energy traders including Mercuria Energy Group Ltd. to expand in metals — a market long dominated by Glencore Plc and Trafigura Group — are raising tensions and sparking a scramble for contracts, at a time when the industry is already facing an unprecedented supply squeeze in copper ore. And mining companies are seizing the moment. One producer,… Read More Here
Zambia to receive $338 million in latest IMF Staff-Level Agreement 4 Mining in Zambia Economy 

Zambia to receive $338 million in latest IMF Staff-Level Agreement

Constance
In the third review of the Extended Credit Facility (ECF) Programme, the government has revealed that it has successfully reached an agreement on further economic policies and reforms. Part of the review is that Zambia will receive $338 million. The Finance and National Planning Minister, Situmbeko Musokotwane expressed his gratitude to the IMF for considering Zambia’s request for additional financial support to aid its response to the drought. The aim of the ECF is to restore macroeconomic stability in Zambia. The IMF hopes to achieve this by: ·      Restoring sustainability… Read More Here
BHP walks away from proposed $49bn takeover of Anglo American 5 International 

BHP walks away from proposed $49bn takeover of Anglo American

Constance
BHP (ASX: BHP) has withdrawn its proposal to buy Anglo American (LON: AAL) after the takeover target rejected early on Wednesday last week the world’s largest miner’s request to extend talks, and said that while it believes its bid was “compelling”, the company is committed to a “disciplined approach” to mergers and acquisitions. “BHP will not be making a firm offer for Anglo American,” chief executive Mike Henry said in a statement published minutes before the 5 p.m. UK time deadline for the mining giant to make a formal bid.… Read More Here
B2Gold Completes Sale of Royalties Portfolio to Versamet Royalties 6 International Gold 

B2Gold Completes Sale of Royalties Portfolio to Versamet Royalties

Constance
Canada-based B2Gold announced on Thursday the sale of a portfolio comprising ten precious and base metals royalties to Sandbox Royalties, now renamed Versamet Royalties, a private metals royalty company focused on returns. Valued at approximately $90 million, this move enables B2Gold to unlock the value of its royalties, which CEO Clive Johnson believes have been underappreciated by the market. Under the purchase and sale agreement, Versamet acquired the royalties in exchange for 153.2 million common shares issued to B2Gold at C$0.80 per share, granting B2Gold a 33% equity interest in… Read More Here
Magna Mining Signs Toll Milling Agreement with Glencore Canada for Crean Hill Project 7 International 

Magna Mining Signs Toll Milling Agreement with Glencore Canada for Crean Hill Project

Constance
Exploration and development company Magna Mining has finalized a toll milling agreement with Glencore Canada for the surface bulk sample of the 109 Footwall (FW) zone at its Crean Hill project, located in Sudbury, Ontario. According to CEO Jason Jessup, this agreement marks a significant advancement for the Crean Hill project, which is a former producer of nickel, copper, and platinum group metals (PGM). Jessup emphasizes the collaboration with local major mining companies as a key strategy for project advancement. In March, Magna entered a definitive offtake agreement with Vale… Read More Here
Zambian Technology Minister Urges Entrepreneurs to Embrace Cutting-Edge Marketing Technologies 8 Mining in Zambia Technology & Innovation 

Zambian Technology Minister Urges Entrepreneurs to Embrace Cutting-Edge Marketing Technologies

Constance
The Technology and Science Minister of Zambia, Hon. Felix Mutati, has emphasized the critical importance of integrating the latest technologies into marketing strategies for Zambian entrepreneurs. In an effort to enhance business effectiveness, Minister Mutati urged entrepreneurs to leverage cutting-edge technologies from China, particularly in network marketing. During the official launch of Angelo HZS International’s operations in Zambia, held in Lusaka over the weekend, Minister Mutati commended the Chinese company’s commitment to sharing its technological advancements with the Zambian business community. He highlighted the significance of staying abreast of modern… Read More Here
ZEMA Approves 207 New Projects Worth $965 Million in April and May 2024 9 Mining in Zambia 

ZEMA Approves 207 New Projects Worth $965 Million in April and May 2024

Constance
The Zambia Environmental Management Agency (ZEMA) has approved 207 new projects, increasing the total number of approved projects in 2024 to 452. These newly approved initiatives, assessed in April and May 2024 by ZEMA’s Environmental Assessment Committee, represent an investment value of approximately $965 million. The cumulative investment for all projects approved this year now stands at about $2.0 billion. Eng. Godfrey Mwiinga, Director General of ZEMA, highlighted the significance of these approvals in addressing current environmental and economic challenges. Among the newly approved projects are five solar energy initiatives… Read More Here
President Hichilema Promises Unity, Law Enforcement, and Economic Recovery 10 Mining in Zambia Economy Governance 

President Hichilema Promises Unity, Law Enforcement, and Economic Recovery

Constance
In a significant address to the nation yesterday, President Hakainde Hichilema outlined a comprehensive agenda focused on national unity, justice, and economic prosperity. President Hichilema emphasized Zambia’s heritage as a unified nation, denouncing divisive rhetoric and hate speech. He affirmed the government’s commitment to increasing penalties for theft, including essential infrastructure like electric cables. A landmark decision was announced to incorporate national unity-focused topics into the school curriculum, aiming to combat tribalism and hate speech among the youth. Addressing the rule of law, President Hichilema asserted that no individual, regardless… Read More Here

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