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Cobre Panama: How a $10 billion copper mine is now sitting idle in the jungle 1 International Copper 

Cobre Panama: How a $10 billion copper mine is now sitting idle in the jungle

Constance
In December 2016, a group of mining executives embarked on a pivotal meeting at Panama’s Palacio de las Garzas, a prelude to the turbulence that would engulf the nation in anti-mining protests. First Quantum Minerals Ltd. was there, discussing progress on their ambitious Cobre Panama copper mine, but a foreboding warning from the president hinted at looming challenges. The project, touted as Panama’s economic linchpin, faced scrutiny over tax disputes and legal hurdles. Despite warnings, Philip Pascall, the bold leader of First Quantum, brushed off concerns, a move that would… Read More Here
ZCCM Investments Holdings PLC Releases Abridged Provisional Unaudited Financial Statements for 2023 2 Mining in Zambia 

ZCCM Investments Holdings PLC Releases Abridged Provisional Unaudited Financial Statements for 2023

Constance
ZCCM Investments Holdings PLC has unveiled its provisional financial statements for the fiscal year ending 31st December 2023, in accordance with the Securities Act No. 41 of 2016. These results encompass the performance of the Company and its subsidiaries, collectively referred to as the ZCCM-IH Group. Overview of the ZCCM-IH Group’s Structure The ZCCM-IH Group encompasses nine companies, each contributing to its diversified portfolio: 1.Mopani Copper Mine PLC 2.Ndola Lime Company Limited (In liquidation) 3.Kariba Minerals Limited 4.Misenge Environmental and Technical Services Limited 4.Mushe Milling Limited (In liquidation) 1.Kabundi Resources… Read More Here
IMF Managing Director Urges Global Cooperation for Economic Transformation 22 International Economy 

IMF Managing Director Urges Global Cooperation for Economic Transformation

Constance
In a keynote speech delivered at the IMF-World Bank 2024 Spring Meetings, Managing Director Kristalina Georgieva emphasized the critical need for coordinated policy responses to address the current economic landscape and pave the way for a transformative future. Against the backdrop of geopolitical tensions and lingering pandemic scars, Georgieva painted a nuanced picture of the global economy. While acknowledging marginal improvements in growth, particularly in the United States and select emerging markets, she underscored persistent challenges and growing divergence, especially among low-income countries grappling with severe scarring. Central to Georgieva’s… Read More Here
Manica's Private Sector Calls for Gold Refinery Installation in Mozambique 23 International Gold 

Manica’s Private Sector Calls for Gold Refinery Installation in Mozambique

Constance
Alcides Cintura, President of the Manica Business Council (CPE), underscored the imperative need for establishing a gold refinery in central Mozambique to bolster the province’s economic landscape and enhance the organization of the mining sector. Highlighting the abundance of mineral resources, including gold and precious stones, in districts like Manica, Gondola, Báruè, Macossa, Guro, and Vanduzi, Cintura emphasized the urgency of regulating their exploitation, which currently operates largely without oversight. “The establishment of a refinery will not only create job opportunities for young people but also boost revenue collection for… Read More Here
President Hichilema's Initiative Receives Praise for Luanshya Copper Mine Revival 24 Mining in Zambia Copper New Mining Projects 

President Hichilema’s Initiative Receives Praise for Luanshya Copper Mine Revival

Constance
Stakeholders and the business community in the mining sector of the Copperbelt region have commended President Hakainde Hichilema and his government for their efforts in revitalizing Luanshya Copper Mine Shaft 28. Businessman Phesto Musonda highlighted the significance of Shaft 28 as a major source of high-grade copper concentrate and cobalt. He expressed optimism that its full operationalization would lead to the reopening of Chambeshi Metals, positively impacting the economy of Luanshya and the broader Copperbelt through job creation and opportunities for small businesses. The Mine Workers Union of Zambia President,… Read More Here
President Hichilema Commits to Unlocking New Luanshya Mines 25 Mining in Zambia Copper Governance 

President Hichilema Commits to Unlocking New Luanshya Mines

Constance
President Hakainde Hichilema expressed gratitude to the residents of Luanshya and the Copperbelt for their patience as his government works to unlock Shaft 28, now renamed New Luanshya Mines. Speaking at a public rally in Luanshya’s Roan Constituency at Mpatamatu Stadium, President Hichilema reassured the community of his administration’s commitment to improving their livelihoods. President Hichilema underscored his government’s determination to ease the lives of the people of Luanshya and the broader Copperbelt region. He emphasized the importance of unity in fostering development, highlighting the need for collective efforts to… Read More Here
Zambia and China Celebrate Revival of Luanshya Copper Mines 26 Mining in Zambia Copper New Mining Projects 

Zambia and China Celebrate Revival of Luanshya Copper Mines

Constance
Zambia and the People’s Republic of China commemorated the commencement of the dewatering process at the long-dormant Luanshya Copper Mines, affectionately known as Shaft 28, in a groundbreaking ceremony filled with jubilation and hope. This event, hailed as a significant milestone, signifies a new chapter in the enduring relationship between the two nations. President Hakainde Hichilema, speaking at the ceremony, expressed profound gratitude to His Excellency President Xi Jinping, the people of China, and the China Non-Ferrous Metals Corporation (CNMC) for their pivotal investment in revitalizing the once-thriving mine. He… Read More Here
Barrick On Track to Achieve 2024 Targets 27 International Gold 

Barrick On Track to Achieve 2024 Targets

Constance
Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) (“Barrick” or the “Company”) today reported preliminary Q1 production of 940 thousand ounces of gold and 40 thousand tonnes of copper, as well as preliminary Q1 sales of 910 thousand ounces of gold and 39 thousand tonnes of copper. As previously guided, Barrick’s gold and copper production in 2024 is expected to progressively increase each quarter through the year, with the Pueblo Viejo plant expansion ramping up from Q2 and the Porgera mine restart continuing in line with plans. We remain on track to achieve our… Read More Here
Suncor to deploy super size Komatsu PC9000 at Fort Hills 28 International Mining Equipment 

Suncor to deploy super size Komatsu PC9000 at Fort Hills

Constance
As the market stands today, the largest available big surface mining hydraulic excavators are generally in the 800 t class – the Komatsu Mining PC8000 (shown in the attached photo), Hitachi EX8000 and Liebherr R 9800. Caterpillar still in theory has the 1,000 t 6090 FS face shovel machine – whose design dates from O&K days in Dortmund (which became Terex O&K then briefly was part of Bucyrus) before its acquisition by Caterpillar in 2011. But this unit (then known as the RH400) has not been built in some years… Read More Here

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