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Sibanye to shut loss-making 4B shaft in Marikana 1 International 

Sibanye to shut loss-making 4B shaft in Marikana

Constance
South African mining company Sibanye-Stillwater has announced the impending closure of its lossmaking 4 Belt (4B) shaft at the Marikana platinum operations, a move that is set to impact 855 jobs. The decision follows the shaft’s failure to meet profitability conditions, as determined by the Section 189A process of the South African PGM (platinum group metals) operations, announced in October last year. Sibanye noted that the shutdown, scheduled five years after the initial proposed closure in 2019, comes despite various successful initiatives and stronger PGM prices that had previously kept… Read More Here
Uganda to open its first tin refining facility next month 2 Mining in Uganda Mineral Processing Tin 

Uganda to open its first tin refining facility next month

Constance
Uganda is set to launch the country’s first tin refining plant in the south-western region next month, Reuters reported. The move is expected to support the country’s efforts to expand its mineral processing capacity. This plant is owned by Uganda-based mining and mineral trading company Woodcross Resources The establishment of the tin refining facility aligns with President Yoweri Museveni’s strategy to maximise the benefits of Uganda’s mineral exports, according to the news agency. The country, which already hosts several gold refineries, is expanding its mineral processing capabilities. Recently, Chinese-backed Sunbird… Read More Here
Zijin's DRC Copper Mine Suspended Over Radiation Worries 3 Mining in DRC Cobalt Copper 

Zijin’s DRC Copper Mine Suspended Over Radiation Worries

Constance
Recent developments have led to the suspension of operations at the La Compagnie Minière de Musonoie (COMMUS) project, a key copper and cobalt mine operated by Zijin Mining Group Ltd. in the Democratic Republic of Congo (DRC). Reports indicate concerns over elevated radiation levels in the cobalt extracted from the mine. Sources familiar with the situation revealed that COMMUS has been non-operational since earlier last week. Government officials are actively involved in overseeing the suspension of production and conducting tests on cobalt shipments. Some shipments, which were previously exported, have… Read More Here
Sibanye-Stillwater restructure puts more than 4,000 jobs on the line 4 International Gold 

Sibanye-Stillwater restructure puts more than 4,000 jobs on the line

Constance
South African mining company Sibanye-Stillwater has initiated Section 189 consultations as part of its restructuring strategy for its gold operations. The proposed changes could potentially impact 3,107 employees and 915 contractors. This move comes as the company seeks to address ongoing losses, particularly at the Beatrix 1 shaft, which has failed to meet production targets. The precious metals producer has also highlighted issues at the Kloof 2 plant, which has struggled with insufficient processing material since the closure of the Kloof 4 shaft in 2023. Additionally, the deferral of capital… Read More Here
Gemfields Auction Yields USD 17.1 Million in Commercial-Quality Emeralds 5 Mining in Zambia Economy Emeralds 

Gemfields Auction Yields USD 17.1 Million in Commercial-Quality Emeralds

Constance
Gemfields has concluded another successful auction of commercial-quality rough emeralds, held from March 5 to March 22, 2024. The auction, conducted by Gemfields’ subsidiary Kagem in Zambia, generated total revenues of USD 17.1 million, with 40 out of 43 lots sold, achieving a remarkable 93% sales rate. Key Highlights: .Total auction revenues reached USD 17.1 million. .43 lots were offered, with 40 lots successfully sold, accounting for a 93% sales rate. .The average price per carat stood at USD 4.45. .Since July 2009, Kagem auctions have amassed total revenues of… Read More Here
UN Human Rights Chief Discusses Humanitarian Concerns with DRC President 6 Mining in DRC Governance 

UN Human Rights Chief Discusses Humanitarian Concerns with DRC President

Constance
President Félix Tshisekedi of the Democratic Republic of Congo (DRC) held a significant meeting with United Nations High Commissioner for Human Rights, Volker Turk, on Thursday at the African Union City. This meeting followed Turk’s recent four-day mission to the DRC, where he assessed the humanitarian situation in the eastern part of the country. Accompanied by Ms. Bintou Keita, Head of the United Nations Organization Stabilization Mission in the DRC (MONUSCO), Turk expressed his deep concern to President Tshisekedi regarding the humanitarian challenges faced by the population in the eastern… Read More Here
FEC challenges ARSP's recommended selection of subcontractors for Tenke Fungurume Mining 7 Mining in DRC Governance 

FEC challenges ARSP’s recommended selection of subcontractors for Tenke Fungurume Mining

Constance
Members of the Federation of Congolese Companies (FEC) Lualaba examined, Thursday April 11, in Kolwezi, the list of subcontracting companies with majority Congolese capital recommended for the execution of large contracts within Tenke Fungurume Mining (TFM ). This list was produced by the Regulatory Authority for Subcontracting in the Private Sector (ARSP). The members of the FEC Lualaba, already in the minority on the revealed list, wish to understand the criteria used by the ARSP to recommend these 25 companies. After analyzing the frustrations of its members, the FEC Lualaba… Read More Here
Suitors Eye Stake in FQMs' Zambian Copper Mines 8 Mining in Zambia Copper 

Suitors Eye Stake in FQMs’ Zambian Copper Mines

Constance
Rio Tinto Group and Saudi Arabia’s Manara Minerals Investment Co., alongside Mitsui & Co. and Sumitomo Corp., are reportedly considering bids for a stake in First Quantum Minerals Ltd.’s Zambian copper mines, according to sources familiar with the matter. First Quantum, open to selling up to 30% of its Zambian assets, including the Sentinel and Kansanshi mines, has attracted interest from potential buyers such as Zijin Mining Group Co. and Jiangxi Copper Co. Shares of First Quantum surged in response to the news. With Zambia contributing significantly to First Quantum’s… Read More Here
Panama election unlikely to shift outlook for FQM's copper mine 9 International Copper 

Panama election unlikely to shift outlook for FQM’s copper mine

Constance
Prospects are poor for First Quantum Minerals to recover its canceled concession for a lucrative copper mine after presidential elections in May, a Reuters review of the campaigns’ proposals and interviews with protest leaders show. Protests against First Quantum’s concession demanding greater environmental guarantees and transparency in negotiations made authorities not only annul its contract to operate one of the world’s largest and newest copper mines but ban all new metal mining permits last year. Metal traders and investors are closely watching the election outcome to see if a new… Read More Here
Saudi Arabia nears $1bn deal for stake in Barrick’s Reko Diq 10 International Gold 

Saudi Arabia nears $1bn deal for stake in Barrick’s Reko Diq

Constance
Saudi Arabia is said to be close to reaching a deal to acquire a minority stake in Pakistan’s $7 billion Reko Diq copper and gold mine, controlled by Barrick Gold (TSX:ABX)(NYSE:GOLD). According to Bloomberg, the kingdom’s investment fund Manara Minerals intends to invest close to $1 billion in the project and it may announce a preliminary agreement on the transaction terms within weeks. SIGN UP FOR THE COPPER DIGEST The Saudi company might gradually raise its stake in Reko Diq, in which the government of Pakistan has a 25% interest… Read More Here

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