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Africa’s lithium supply to almost triple this year – Benchmark Mineral Intelligence 1 Lithium Battery Metals International 

Africa’s lithium supply to almost triple this year – Benchmark Mineral Intelligence

Constance
Lithium production from Africa is projected to almost triple in 2024 compared to the previous year, according to Benchmark Mineral Intelligence. Chinese companies hold a virtual monopoly on lithium extraction in Africa, with over 90% of the continent’s projected lithium supply for this decade stemming from projects partly owned by Chinese entities, as estimated by Benchmark. Most of the increased supply is expected to come from Zimbabwe. It is estimated that the country produced 3,400 tonnes in 2023, placing it among the seven largest producers globally. The country is home… Read More Here
Gemfields Introduces 'G-Factor for Natural Resources' to Enhance Transparency 2 Mining in Zambia Gemstones 

Gemfields Introduces ‘G-Factor for Natural Resources’ to Enhance Transparency

Constance
London-listed Gemfields has unveiled updated figures for its ‘G-Factor for Natural Resources’, designed to promote transparency in revenue sharing with host countries’ governments. The measure, introduced in July 2021, aims to provide a clear indicator of the percentage of revenue allocated to host governments in primary and direct taxes across various sectors, including mining, oil, gas, timber, and fishing. Gemfields’ recent report on the G-Factor computations for its key mining subsidiaries, the Kagem emerald mine in Zambia and the Montepuez ruby mine in Mozambique, reveals scores of 31% and 35%… Read More Here
China's Coal Consumption Expected to Drop by One-Third by 2040 3 International Coal 

China’s Coal Consumption Expected to Drop by One-Third by 2040

Constance
A recent report by European consultancy DNV has projected that China’s coal consumption will decrease by approximately one-third by 2040, posing a challenge to global climate targets aiming to phase out coal use by the same year. While the International Energy Agency emphasizes the necessity of eliminating global coal power capacity by 2040 to curb temperature rises within the 1.5-degree Celsius threshold, DNV’s findings diverge, indicating a minor increase in China’s coal consumption over the next two years followed by a gradual decline. Despite a significant surge in renewable energy… Read More Here
FQM cuts debt by over $1bn in first quarter 4 International Copper 

FQM cuts debt by over $1bn in first quarter

Constance
Canadian miner First Quantum Minerals said on Tuesday that it has cut its debt by $1.14 billion in the first quarter. The company in February had announced a series of capital restructuring measures that would strengthen its balance sheet and cut debt, a move that will help the Canadian miner deliver on its “operational objectives.” The company’s total debt as of March 31 stands at $5.99 billion, down from its previous debt of $7.38 billion. The copper miner reported a net loss attributable to shareholders of the company at $159… Read More Here
FQM says probability of taking out copper from Panama mine only after election 5 International Copper News in Brief 

FQM says probability of taking out copper from Panama mine only after election

Constance
Canadian miner First Quantum Minerals said on Wednesday the likelihood of taking out the 121,000 tonnes of copper from its disputed Cobre Panama mine can only happen after the Panama national election. First Quantum’s Cobre Panama is under preservation and safe maintenance after the current Panama government ordered the closure of the copper mine last year. Panama goes to polls in May this year. SOURCE:mining.com Read More Here
Zambia's Zesco Seeks Power Imports to Mitigate Energy Deficit 6 Mining in Zambia Electricity Energy 

Zambia’s Zesco Seeks Power Imports to Mitigate Energy Deficit

Constance
Zambia’s state-owned electricity utility, Zesco, announced plans on Monday to import power in order to address an impending energy shortfall that threatens production in the nation, known as Africa’s second-largest copper producer. With 86% of its electricity sourced from hydropower stations, Zambia faces challenges due to a severe drought caused by El Nino, a weather phenomenon marked by abnormal warming of the waters in the eastern Pacific, resulting in global temperature fluctuations. Zesco anticipates a power generation deficit of 700 megawatts this year, prompting negotiations for additional electricity imports. These… Read More Here
Sibanye-Stillwater targets $500m in gold streaming deals 7 International Gold 

Sibanye-Stillwater targets $500m in gold streaming deals

Constance
SIBANYE-Stillwater aimed to conclude a portion of an estimated $500m to $1bn in potential streaming or metals prepayment deals before it announced its half year results in August, said the group’s CEO Neal Froneman. “We don’t get any credit for our gold by-product from platinum group metals (PGMs) and it’s a good time to be negotiating because the gold price isn’t done yet,” said Froneman on the sidelines of the PGM Day conference in Johannesburg. “The beauty of selling by-product credits is that it’s not described as debt,” he said.… Read More Here
CEC Renewables: Second Annual Report Highlights Achievements and Growth Outlook 8 Mining in Zambia Energy Green Energy 

CEC Renewables: Second Annual Report Highlights Achievements and Growth Outlook

Constance
In a recent update, CEC Renewables has shared its second annual report, covering the period from January 1, 2023, to December 31, 2023. This report showcases a year of remarkable achievements and outlines the company’s strategies for future growth in Zambia’s renewable energy sector. Key highlights from the report include the completion of the RSP project with a capacity of 34 MW, positioning it as one of the largest solar power plants in the country. Additionally, CEC Renewables established a dedicated management team and registered a USD 200 million Green… Read More Here
Copperbelt Energy Corporation PLC Announces Board Resignation and Appointment 9 Mining in Zambia Energy Mining Personality 

Copperbelt Energy Corporation PLC Announces Board Resignation and Appointment

Constance
Copperbelt Energy Corporation PLC (CEC) has made significant changes to its Board of Directors, in line with Section 3.59 of the LuSE Listing Requirements. The company has announced the resignation of Mr. Derek Chime as a director, effective April 2, 2024. Simultaneously, the Board is pleased to announce the appointment of Mr. Auke Lont as a director, also effective April 2, 2024. Mr. Lont brings with him a wealth of experience and expertise in the energy sector, having served as the Chief Executive Officer of Statnett, Norway’s national power transmission… Read More Here
IMF Report: South Africa Emerges as Africa's Leading Economy in 2024 10 International Economy 

IMF Report: South Africa Emerges as Africa’s Leading Economy in 2024

Constance
In a shift of economic dynamics, South Africa is poised to take the lead in Africa’s economy for 2024, according to the latest economic projections from the International Monetary Fund (IMF) as of April 2024. Egypt, which held the top position in 2023, is expected to slip to second place this year, while Nigeria is projected to move from second to fourth position. Algeria is anticipated to ascend to the third spot on the economic podium, primarily fueled by the rise in hydrocarbon prices. The IMF forecasts Nigeria’s gross domestic… Read More Here

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