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DRC Central Bank Reports Copper Price Rise Amid Global Trade Adjustments 1 Mining in DRC Copper 

DRC Central Bank Reports Copper Price Rise Amid Global Trade Adjustments

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The Central Bank of Congo (BCC) has released its latest economic outlook, covering the period from January 31 to February 7, 2025. The report highlights fluctuations in key commodity prices, reflecting global market dynamics and geopolitical influences. Copper prices rose to $9,412.75 per tonne, marking a 3.68% weekly increase. The report attributes this rise to improved market confidence following the U.S. administration’s decision to postpone new customs duties on imports from key trade partners, including Canada, Mexico, and China. On a year-to-date basis, copper prices have gained 7.10%. In contrast,… Read More Here
Middlemen Divert Billions from DRC’s Cobalt and Coltan Trade 2 Mining in DRC Cobalt 

Middlemen Divert Billions from DRC’s Cobalt and Coltan Trade

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The Democratic Republic of Congo (DRC), the world’s leading producer of cobalt, loses nearly $1 billion annually to illegal trade, fueling conflict and deepening poverty, according to political analyst Oluwole Ojewale of the Institute for Security Studies. The DRC supplies 70% of the world’s cobalt, essential for electric vehicle batteries and renewable energy projects. However, most of its production comes from 150,000 to 200,000 artisanal miners, with over a million people depending on their work. Operating in North and South Kivu, these miners extract minerals under harsh conditions, while middlemen… Read More Here
Barrick Gold Weighs U.S. Relocation for Greater Market Access 3 International Corporate News Gold 

Barrick Gold Weighs U.S. Relocation for Greater Market Access

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Toronto-based Barrick Gold (NYSE: GOLD; TSX: ABX) is considering relocating its corporate domicile from Canada to the United States, CEO Mark Bristow told The Globe and Mail. The move could provide greater market efficiency, attract a wider investor base, and position the company for inclusion in the S&P 500 index, triggering automatic purchases by mutual funds and exchange-traded funds. Barrick’s most significant asset is Nevada Gold Mines, a joint venture with Newmont (TSX: NGT; NYSE, ASX: NEM), in which Barrick holds a 61.5% stake. It is the world’s largest gold-producing… Read More Here
Peru’s Copper Output Declines for First Time in Four Years 4 Copper International 

Peru’s Copper Output Declines for First Time in Four Years

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Peru’s copper production in 2024 totaled 2,736,150 metric tons, marking a 0.7% decline from 2023, according to the country’s mining ministry. This drop ends four consecutive years of post-pandemic recovery. Industry analysts had anticipated stable production of around 2.8 million metric tons for both 2024 and 2025, citing declining ore grades and a lack of new projects. The Democratic Republic of the Congo surpassed Peru as the world’s second-largest copper producer in 2023, though Congo has yet to release its full-year figures for 2024. Despite the overall decline, Peru’s copper… Read More Here
Barrick Gold’s Dispute with Mali Remains Unresolved as Talks Stall 5 International Gold 

Barrick Gold’s Dispute with Mali Remains Unresolved as Talks Stall

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Negotiations between Barrick Gold (NYSE:GOLD)(TSX:ABX) and the Malian government over a prolonged dispute regarding payments from the country’s largest gold mine have been suspended without a resolution. Mali is demanding a settlement of 125 billion CFA francs ($197 million) from the Canadian mining giant, Bloomberg News reported, citing local sources. Additionally, the government insists that Barrick comply with its revised mining code, which increases the state’s share of mining revenues and removes tax exemptions. The Loulo-Gounkoto gold complex, developed under CEO Mark Bristow’s leadership at Randgold before its 2018 merger… Read More Here
First Quantum’s Cobre Panama Arbitration Delayed to 2026 6 Corporate News Copper International 

First Quantum’s Cobre Panama Arbitration Delayed to 2026

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First Quantum Minerals announced on Tuesday that the final hearing for the Cobre Panama mine arbitration under the International Chamber of Commerce (ICC) has been postponed to February 2026 from its previously scheduled date in September 2024. The Cobre Panama mine, one of the world’s largest copper producers, was shut down in November 2023 after Panama’s Supreme Court ruled its contract unconstitutional. Widespread environmental protests further pressured authorities to close the operation. The Canadian miner stated that the Panamanian government requested an extension of its arbitration submission deadlines due to… Read More Here
First Quantum Takes Cautious Approach to Selling Zambian Mine Stake 7 Mining in Zambia Copper Corporate News 

First Quantum Takes Cautious Approach to Selling Zambian Mine Stake

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First Quantum Minerals is in no rush to sell a minority stake in its Zambian copper mines, CFO Ryan MacWilliam told analysts following the company’s fourth-quarter results. The Toronto-based miner aims to secure a long-term partner but has set no fixed timeline for the sale. “We have been consistent throughout that any arrangements we enter into in Zambia will be for the next 25 years,” MacWilliam stated. “It’s really about getting the right agreement rather than a quick agreement.” Saudi Arabian mining firm Manara is reportedly in advanced discussions to… Read More Here
BHP Appoints Ross McEwan as Chairman Amid Leadership Transition 8 Corporate News International Mining Personality 

BHP Appoints Ross McEwan as Chairman Amid Leadership Transition

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BHP, the world’s largest publicly listed mining company, has appointed former National Australia Bank (NAB) CEO Ross McEwan as its new chairman, succeeding Ken MacKenzie, who will step down on March 31. McEwan, a non-executive director at BHP since April 2024, previously led NAB—Australia’s second-largest bank—and held the top position at the Royal Bank of Scotland. Known for steering NAB through a post-scandal recovery with a simplification strategy, he is widely regarded as a strong leader in corporate governance. In his new role, McEwan will oversee the selection of BHP’s… Read More Here
Bank of Zambia to Launch New Currency Family in March 2025 9 Mining in Zambia Economy 

Bank of Zambia to Launch New Currency Family in March 2025

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The Bank of Zambia has announced the introduction of a new series of currency, set to launch on March 31, 2025. The updated currency family includes six banknotes (K500, K200, K100, K50, K20, and K10) and six coins (K5, K2, K1, 50N, 10N, and 5N). The alpha code (ZMW), numeric code (967), and currency symbol (K) will remain unchanged, preserving the value of the currency. The new banknote designs draw inspiration from Zambia’s rich heritage and natural beauty, featuring the African Fish Eagle, six of the country’s key waterfalls, and… Read More Here
Zambia Raises Interest Rate to Stabilize Kwacha and Curb Inflation 10 Mining in Zambia Economy 

Zambia Raises Interest Rate to Stabilize Kwacha and Curb Inflation

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The Bank of Zambia has raised its base interest rate by 0.5 percentage points, increasing it from 14% to 14.5%, in an effort to stabilize the Kwacha and control inflation. The decision was announced following the Monetary Policy Committee (MPC) meeting held from February 10-11, with Governor Dr. Denny Kalyalya stating that the move aims to steer inflation back within the target range of 6-8% over the medium term. “The relatively higher inflation outlook for 2025 is largely driven by recent inflationary pressures and the continued depreciation of the exchange… Read More Here

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