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Sibanye-Stillwater Finalizes Fourth Renewable Energy Power Purchase Agreement 1 International Energy 

Sibanye-Stillwater Finalizes Fourth Renewable Energy Power Purchase Agreement

Constance
Johannesburg- and New York-listed Sibanye-Stillwater has finalized its fourth renewable energy power purchase agreement (PPA), marking a significant milestone in its commitment to carbon neutrality by 2040. The green metals and gold producer has reached financial close on a 140 MW wind energy project, the Umsinde Emoyeni Wind Farm, located near Murraysburg on the border between the Northern Cape and the Western Cape. Sibanye-Stillwater CEO Neal Froneman emphasized the importance of this development in a release to Mining Weekly, stating that the project represents another crucial step toward achieving carbon… Read More Here
Economics Association of Zambia Analyzes Impact of Eurobond Restructuring Deal 2 Economy Mining in Zambia 

Economics Association of Zambia Analyzes Impact of Eurobond Restructuring Deal

Constance
The recent Eurobond restructuring deal between the Government of Zambia and bondholders has garnered significant economic and business interest across the nation. In response, the Economics Association of Zambia (EAZ) has issued a statement providing insights into the matter. Dr. Oswald Mungule, President of the EAZ, announced that bondholders have positively responded to the restructured terms of Zambia’s initial $3 billion Eurobond, which had accrued to approximately $3.98 billion by 2024 due to accumulated interest and penalties. Despite this progress, Zambia’s credit rating remains low, indicating a high credit risk.… Read More Here
Zimbabwe Introduces Gold Supply Tracking System to Combat Smuggling 3 International Gold 

Zimbabwe Introduces Gold Supply Tracking System to Combat Smuggling

Constance
Zimbabwe’s sole authorized gold buyer, Fidelity Gold Refinery (FGR), will implement a new tracking system to monitor the supply of gold from mines to the market, aiming to curb rampant smuggling. General Manager Peter Magaramombe announced the initiative, which will launch on September 30, during a meeting with miners in the capital city, Harare. The International Crisis Group estimates that Zimbabwe loses approximately $1.5 billion annually due to gold smuggling. The new system will enable real-time monitoring from the initial weighing of bullion by producers to its delivery to FGR… Read More Here
Zambia Finalizes AI Strategy to Boost National Development 4 Mining in Zambia Copper Events & Expos Technology & Innovation 

Zambia Finalizes AI Strategy to Boost National Development

Constance
The Zambian government has completed drafting a comprehensive Artificial Intelligence (AI) strategy, poised to harness the latest technological advancements for national development. Technology and Science Minister, Hon. Felix Mutati, announced that the AI strategy is set to be launched within the next two months. Speaking at a side event during the Copperbelt Agricultural Mining Industrial Networking Enterprise (CAMINEX) in Kitwe, Mr. Mutati underscored AI’s potential to help Zambia achieve its goal of producing three million tonnes of copper annually. He emphasized that AI would significantly enhance exploration efforts and bring… Read More Here
President Hichilema Inaugurates CAMINEX 2024 with a Call for National Development 5 Mining in Zambia Events & Expos 

President Hichilema Inaugurates CAMINEX 2024 with a Call for National Development

Constance
President Hakainde Hichilema inaugurated the 2024 Copperbelt Mining, Agriculture, and Industrial Trade Expo (CAMINEX) in Kitwe yesterday, urging Zambians to embrace hard work as a catalyst for national development. The event, themed “Unlocking Opportunities for Growth: Zambia’s Land-Linked Position,” saw the President highlight the crucial role of diligence in driving both individual and collective progress, contributing significantly to food security and economic stability. In his address, President Hichilema stressed the importance of self-improvement as a means to create employment opportunities and foster entrepreneurship, thereby raising living standards across the nation.… Read More Here
Lobito Corridor IPA Welcomes Patson Malisa as New Director General 25 Transport and Logistics 

Lobito Corridor IPA Welcomes Patson Malisa as New Director General

Constance
On May 28, 2024, the Lobito Corridor Investment Promotion Authority (“LCIPA” or the “IPA”) announced Patson Malisa as the Director General of the LCIPA. The LCIPA is confident that Patson Malisa’s leadership will significantly advance the goals and potential of the Lobito Corridor. “The Lobito Corridor has unlimited potential to safely acquire, transport, and secure the minerals essential to providing the clean energy on which the world increasingly runs; to spur healthy economic development of the region and beyond; and to improve the lives of millions of people living along… Read More Here
Ivanhoe Mines Completes Construction of Kamoa-Kakula’s Phase 3 Concentrator Ahead of Schedule and on Budget 26 Mining in DRC Copper Press Release 

Ivanhoe Mines Completes Construction of Kamoa-Kakula’s Phase 3 Concentrator Ahead of Schedule and on Budget

Constance
First ore to Phase 3 concentrator achieved on May 26; first Phase 3 concentrate expected in early June Phase 3 concentrator increases Kamoa-Kakula copper production capacity to more than 600,000 tonnes per annum, making Kamoa-Kakula the fourth-largest copper mining complex globally Further Kamoa-Kakula growth initiatives in progress, including Project 95, de-bottlenecking of Phase 3 and potential acceleration of Phase 4 expansion Zero lost-time injuries recorded during the construction of the Phase 3 concentrator Phase 1 and 2 concentrators produced more than 63,000 tonnes of copper since start of April; a… Read More Here
CITIC Metal to Potentially Sell Part of Its Stake in Ivanhoe Mines 27 Copper 

CITIC Metal to Potentially Sell Part of Its Stake in Ivanhoe Mines

Constance
Toronto, Ontario – (Newsfile Corp. – May 27, 2024) – CITIC Metal Co., Ltd. has announced, via a regulatory announcement on the Shanghai Stock Exchange dated May 26, 2024, that it received board approval on May 24, 2024, for its subsidiary, CITIC Metal Africa Investments Limited (“CITIC”), to sell a portion of its holdings in Ivanhoe Mines Ltd. (“the Corporation”). The sale could occur through public trades, block trades, or a combination of both. Further approval from CITIC Metal Co., Ltd.’s shareholders will be sought at a general meeting scheduled… Read More Here
President Hichilema's Copperbelt Visit to Highlight Mining and Agricultural Advances 28 Mining in Zambia Events & Expos Technology & Innovation 

President Hichilema’s Copperbelt Visit to Highlight Mining and Agricultural Advances

Constance
President Hakainde Hichilema is set to embark on a two-day working trip to Copperbelt Province on May 28th and 29th. During his visit, he will officiate at the 2024 Forum on Technology Empowering Development of the Mining Industry in Luanshya. Copperbelt Province Minister Elisha Matambo announced that the President will also officiate at the Copperbelt Agricultural, Mining, Industrial, and Networking Enterprise (CAMINEX) conference in Kitwe. This conference will provide insights into the progressive steps being taken in the mining industry. Last year’s CAMINEX conference focused on the theme “Reignite, Rebuild,… Read More Here

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