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KoBold Metals Leads the Charge in Mineral Exploration for Energy Transition 1 Mining in Zambia Battery Metals Cobalt Copper Exploration Lithium 

KoBold Metals Leads the Charge in Mineral Exploration for Energy Transition

Constance
KoBold Metals, a pioneering mining startup with backing from industry giants like Bill Gates and Jeff Bezos, is optimistic about its prospects in uncovering crucial metals vital for the energy transition. The company’s enthusiasm surged following its recent breakthrough discovery of a substantial copper deposit in Zambia. According to Josh Goldman, KoBold Metals’ president, this find marks a significant milestone, especially amid the mining industry’s struggle to meet the growing demand for metals essential to the energy transition. Utilizing artificial intelligence to create a “treasure map,” KoBold Metals focuses on… Read More Here
FQM expects to ship trapped Panama copper within weeks 2 International Copper 

FQM expects to ship trapped Panama copper within weeks

Constance
First Quantum Minerals Ltd. expects to secure authorization from Panamanian officials in the coming weeks to sell more than 120,000 metric tons of copper concentrate stored near a port that served its flagship mine. Unleashing the stockpile of semi-processed metal could generate between $200 million and $300 million based on today’s copper prices. That would be a welcome boost to First Quantum’s balance sheet after the government ordered the closure of the Cobre Panama copper mine in November following fierce public protests. Releasing the copper cache would also bolster a… Read More Here
BRICS Prepares to Launch Currency in 2024 3 International Economy 

BRICS Prepares to Launch Currency in 2024

Constance
BRICS member India is studying the prospects and usage of a new BRICS currency against the US dollar. Reports state that India has ordered a group of financial analysts to study the possibility of a new BRICS currency. The order indicates leading financial intellectuals and think tanks to debate the formation of a new currency, which could be an alternative to the US dollar. A senior and top-level government official from India said on the condition of anonymity that the study on BRICS currency could be a talking point at… Read More Here
Kagame and Lourenço Discuss DRC Security in Luanda Meeting 4 Mining in DRC Governance 

Kagame and Lourenço Discuss DRC Security in Luanda Meeting

Constance
President Paul Kagame of Rwanda and his Angolan counterpart Joao Lourenço met in Luanda on Monday, March 11, to discuss the security situation in eastern DR Congo, as reported by Village Urugwiro. Kagame was on a one-day working visit to Luanda, where both leaders agreed on key steps to address the root causes of the conflict. They emphasized the importance of upholding the Luanda and Nairobi processes to achieve peace and stability in the region. Lourenço, serving as a mediator between Rwanda and DR Congo, played a crucial role in… Read More Here
Zambia Allocates 11.7 Billion Kwacha for Public Service Delivery in February 2024 21 Mining in Zambia Economy 

Zambia Allocates 11.7 Billion Kwacha for Public Service Delivery in February 2024

Constance
The Ministry of Finance and National Planning has allocated 11.7 billion Kwacha to finance public service delivery in February 2024, according to recent reports. Out of this amount, 2.1 billion Kwacha has been allocated to transfers, subsidies, and social benefits, while 1.3 billion Kwacha will go towards implementing various government programs and general operations. Additionally, 911.3 million Kwacha has been earmarked for capital expenditure programs. Furthermore, 3.1 billion Kwacha has been allocated for debt service and arrears, with the remaining 4.3 billion Kwacha allocated for the public service wage bill.… Read More Here
Decline in Zinc Ore Production Hits Mining Sector in DRC 22 Mining in DRC Zinc 

Decline in Zinc Ore Production Hits Mining Sector in DRC

Constance
Mining companies in the Democratic Republic of Congo (DRC) have experienced a significant reduction in zinc ore production over the past two years, according to recent statistics from the Central Bank of Congo (BCC). The BCC’s report, released last week, indicates a notable decrease in zinc production, with only 11,287 tonnes produced in 2023. This marks a decline of 15.6% compared to the previous year, where production stood at 12,309 tonnes. Moreover, compared to 2021’s production of 16,079 tonnes, the drop is even more significant, estimated at around 29.8%. Despite… Read More Here
Market Forecast: Cobalt, Nickel, and Lithium Prices to Decline by December 2024 23 International Battery Metals Cobalt Lithium Nickel 

Market Forecast: Cobalt, Nickel, and Lithium Prices to Decline by December 2024

Constance
Goldman Sachs Predicts Drop in Key Minerals for Energy Transition Goldman Sachs, renowned for its market analysis, foresees a downturn in cobalt, nickel, and lithium prices by December 2024, essential minerals for the energy transition. Analysts attributed this projected decline to decreasing demand from the electric vehicle industry in Western nations. According to Goldman’s forecast estimates, cobalt prices are expected to decrease by 12%, nickel by 15%, and lithium by 25% over the next twelve months. The bank’s analysts emphasized that despite supply constraints in late 2023 due to margin… Read More Here
DRC's Ministry of Finance Responds to Allegations Regarding Retrocession Payments 24 Economy Mining in DRC 

DRC’s Ministry of Finance Responds to Allegations Regarding Retrocession Payments

Constance
The Ministry of Finance has refuted claims made by the National Intersyndicale of Public Administration (INAP) regarding the non-payment of retrocessions owed to financial authorities. In a press release received by ACTUALITE.CD on Sunday, March 10, the Ministry clarified that no authorization files are pending in its office. According to the press release, retrocessions owed to financial authorities are typically paid in the month following the one to which they relate. The Ministry stated that retrocessions up to November 2023 have been fully paid, with the last disbursement made on… Read More Here
Nicolas Kazadi Advocates for Collective 2024 Budget Alignment 25 Mining in DRC Economy 

Nicolas Kazadi Advocates for Collective 2024 Budget Alignment

Constance
In a context marked by the continued deterioration of the security situation in the east of the country, thus causing an increase in security expenditure, the Congolese Minister of Finance, Nicolas Kazadi, spoke, during the one hundred and twenty-eighth meeting of the Council of Ministers, the need to resort to a collective budget for the current financial year. The National Argentier outlined the country’s financial situation, indicating that the context for developing the State Budget for the year 2024 no longer currently fits with the latest developments underway, particularly in… Read More Here

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