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Mopani Copper Mines Handover Boosts Economic Hopes in Kitwe 1 Mining in Zambia Copper Economy 

Mopani Copper Mines Handover Boosts Economic Hopes in Kitwe

Constance
The impending handover of Mopani Copper Mines to Delta Mining Limited by President Hakainde Hichilema is hailed as a significant milestone for the entire Copperbelt region, according to stakeholders in Kitwe. Lawrence Mwanza, Kitwe District Commissioner, believes this development will catalyze economic growth and youth employment opportunities, underscoring the government’s commitment to fostering sustainable mining partnerships with investors like International Resources Holdings. And Mining engineer Boniface Matanda commends President Hichilema’s administration for ensuring Mopani Copper Mines’ return to full production, highlighting the positive impact on the local economy. Saul Simujika,… Read More Here
Zambia's Govt Expects Mopani Handover to Boost Kwacha Stability 2 Mining in Zambia Copper Economy News in Brief 

Zambia’s Govt Expects Mopani Handover to Boost Kwacha Stability

Constance
Handover of Mopani Mines to Delta Mining Expected to Bolster Kwacha Stability, says Government Spokesperson Cornelius Mweetwa, the Chief Government Spokesperson, asserts that the transfer of Mopani Copper Mines to Delta Mining Limited will play a pivotal role in further stabilizing the Kwacha against major convertible currencies. Mweetwa emphasizes that the activation of Mopani’s operations will not only contribute to Kwacha stability against the dollar and other convertible currencies but also lead to an increase in copper production. President Hakainde Hichilema is slated to formally hand over Mopani Mines to… Read More Here
Zambian Officials Advocate for Local Participation in Mining Supply Chains 3 Mining in Zambia Economy 

Zambian Officials Advocate for Local Participation in Mining Supply Chains

Constance
Minister of Mines and Mineral Development Paul Kabuswe, emphasized the detrimental impact of mines forming supply chain cartels involving foreigners, which undermines the country’s economy. Kabuswe urged mines to cease using the alleged lack of capacity among local contractors as an excuse for not engaging them in business dealings. His remarks were conveyed by Mines Permanent Secretary Dr. Hapenga Kabeta during the launch of the Barrick Lumwana Business Accelerator Program in Solwezi. Chipoka Mulenga, Minister of Trade, Commerce, and Industry, echoed Kabuswe’s sentiments, urging mines to comply with local content… Read More Here
Glencore International 

Glencore’s 2023 Carbon Emissions Rise 8.8% Despite New Climate Plan

Constance
In its latest Climate Action Transition Plan (CATP) spanning from 2024 to 2026, global mining giant Glencore affirms its commitment to meeting emission reduction targets. Published on March 20, the CATP outlines Glencore’s trajectory to achieve a 15% reduction in emissions by the end of 2026 and a more ambitious 50% reduction by 2035, encompassing Scope 1, 2, and 3 industrial carbon dioxide emissions. Moreover, Glencore maintains its long-term vision of achieving net-zero carbon emissions by 2050. The CATP introduces a new interim target of a 25% reduction in emissions… Read More Here
Barrick Hunts New Gold and Copper Prospects in DRC From Kibali Base 4 Mining in DRC Copper Gold Press Release 

Barrick Hunts New Gold and Copper Prospects in DRC From Kibali Base

Constance
 Based on the success of Kibali, which Barrick has built into Africa’s largest gold mine, the company is ready to invest in new gold and copper opportunities in partnership with the government of the DRC, says president and chief executive Mark Bristow. Speaking to media at a site visit to the mine, Bristow said Kibali was on track for another value-creating year on the back of a strong production performance. It was also well set to replace the ounces that were being depleted by mining with more of the same… Read More Here
Revitalized Mopani Copper Mines Projected to Boost Employment and Economic Growth 5 Mining in Zambia Copper Economy 

Revitalized Mopani Copper Mines Projected to Boost Employment and Economic Growth

Constance
Minister of Mines and Minerals Development, Paul Kabuswe, has announced that the rejuvenated Mopani Copper Mines (MCM) is poised to create 2,000 direct job opportunities and an additional 1,000 indirect employment avenues. Today, President Hakainde Hichilema is set to formally transfer Mopani to its new equity partners, International Resources Holding (IRH) from Abu Dhabi, who have acquired a 51 percent stake in the mine. The IRH agreement, valued at US$1.1 billion, earmarks a significant portion for settling outstanding dues to contractors, suppliers, and addressing debt obligations to Glencore. In 2021,… Read More Here
Uganda's Gold Exports Soar Despite US Sanctions, Driven by New Processors 6 Gold Mining in Uganda 

Uganda’s Gold Exports Soar Despite US Sanctions, Driven by New Processors

Constance
Uganda witnessed a remarkable surge in its gold exports in 2023, surpassing previous records despite facing US sanctions on a major processor in the country, according to data released by the central bank on Tuesday. Bank of Uganda data revealed that Uganda’s gold exports skyrocketed to $2.3 billion in 2023, a significant increase from $201 million recorded in the preceding 12 months. The surge in exports is attributed to the emergence of new processing facilities, notably the Chinese-owned Wagagai Mining plant in eastern Uganda, suggested Stephen Turyahikayo, an expert on… Read More Here
Rio Tinto to spend $350m on Argentine lithium plant 7 International Lithium 

Rio Tinto to spend $350m on Argentine lithium plant

Constance
Global mining company Rio Tinto has earmarked $350m for its Rincon lithium project in Argentina, Reuters reported. The move underscores the company’s commitment to commencing production by the end of the year. This development comes after Rio Tinto CEO Jakob Stausholm recently visited the site, highlighting the strategic importance of the investment. Stausholm was quoted by the news agency as saying: “The hard work of our Rincon team is laying the groundwork for our first lithium production by year’s end.” In 2022, Rio Tinto acquired the Rincon project from Rincon… Read More Here
EU grants final approval to Critical Raw Minerals Act 8 International Battery Metals 

EU grants final approval to Critical Raw Minerals Act

Constance
The EU Council has given final approval to its Critical Raw Materials Act (CRMA) as it looks to diversify away from Chinese supply chain dominance. Final approval is the last stage in the process to formally implement the act. The final text, officially adopted on Monday, identifies two lists of materials 34 critical and 17 strategic – that are crucial for the green and digital transitions, as well as the defence and space industries, the Council said in a press statement. The act, first proposed at the end of 2022… Read More Here
Western Interest Grows in Congolese Minerals as China Strengthens Ties 9 Mining in DRC Battery Metals Cobalt Lithium 

Western Interest Grows in Congolese Minerals as China Strengthens Ties

Constance
In recent years, Western nations, particularly the European Union and the United States, have shown a heightened interest in the abundant reserves of cobalt and lithium present in the Democratic Republic of Congo (DRC). Recognizing the DRC’s significance in the global energy transition, these Western powers have intensified efforts to reduce reliance on China for critical mineral supplies, leading to a strategic repositioning in the region. This renewed focus prompted the DRC to seek a renegotiation of its 2008 agreement with the Chinese Enterprise Group, aiming for more favorable terms.… Read More Here

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