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BRICS Officially Welcomes 5 New Members 21 International Economy 

BRICS Officially Welcomes 5 New Members

Constance
Intergovernmental organization, the BRICS group, has officially expanded its membership, welcoming Egypt, Iran, Saudi Arabia, the United Arab Emirates, and Ethiopia as new members. The strategic move is part of BRICS’ commitment to fostering a more diverse and inclusive global order that benefits the Global South and follows the issuance of membership invitations to six countries during the 15th BRICS Summit – held in Johannesburg in August 2023. Effective from January 1, 2024, the inclusion of these five nations underscores BRICS’ dedication to strengthening multilateralism for equitable global development and… Read More Here
Barrick and Antofagasta to spend $95m exploring for copper in Chile 22 International Copper Exploration 

Barrick and Antofagasta to spend $95m exploring for copper in Chile

Constance
Canada’s Barrick Gold (TSX: ABX)(NYSE: GOLD) and Chilean miner Antofagasta (LON: ANTO) have partnered to explore together for copper and other metals in the Alto del Carmen area of the country’s northern Atacama region. Through the newly formed Minera El Encierro, the companies will invest about $95 million to enable 60 drilling platforms on a property comprising 35 concessions that cover an area of 9,400 hectares. Drilling will be carried out over five years and each campaign will have an estimated duration of 10 months, El Encierro said in its… Read More Here
Barrick Sounds Out First Quantum Holders on Possible Bid 23 Gold International 

Barrick Sounds Out First Quantum Holders on Possible Bid

Constance
Barrick Gold Corp. has spoken with some of First Quantum Minerals Ltd.’s major investors to gauge their support for a potential takeover, after the sudden closure of its flagship mine left the Canadian copper producer reeling and wiped out more than half its market value. Barrick Chief Executive Officer Mark Bristow approached some of First Quantum’s largest investors late last year, according to people familiar with the situation, who asked not to be identified as the talks were private. It wasn’t immediately clear if Barrick has made a fresh approach… Read More Here
Workers at FQM’s shuttered Panama mine warn of threat to ‘invade’ site 24 International Copper 

Workers at FQM’s shuttered Panama mine warn of threat to ‘invade’ site

Constance
The union representing workers at First Quantum’s copper mine in Panama on Wednesday warned of another union’s plan to “invade” the site next week, the latest face-off over the now-shuttered mine that provoked nationwide protests last year. The UTRAMIPA miners’ union said in a statement it was “worried” by the plans of the Suntracs construction workers union, the largest in the country, to force its way into the Canadian miner’s operation on Jan. 9. First Quantum in late November suspended commercial production at the mine and put it into care… Read More Here
Zambia's Economy To Grow By 4 Percent 25 Mining in Zambia Economy 

Zambia’s Economy To Grow By 4 Percent

Constance
 The Policy Monitoring and Research Centre -PMRC- has projected Zambia’s economic growth to increase to above 4 percent  in 2024 following the continued policy reforms. PMRC Executive Director, SYDNEY MWAMBA says Zambia’s economic outlook for 2024 remains positive with growth projected to increase due to higher global copper prices as well as the market confidence associated with ongoing fiscal consolidation measures. In a statement issued to ZANIS in Lusaka, Mr. MWAMBA noted that the country, in 2023, made significant advancements with regards to enhancing human development through increased investment in… Read More Here
Mining Licensing Committee grants 118 artisanal mining rights to Cooperatives in Zambia 26 Mining in Zambia Artisanal mining 

Mining Licensing Committee grants 118 artisanal mining rights to Cooperatives in Zambia

Constance
In a stride toward enhancing artisanal mining, Zambia’s Mining Licensing Committee recently sanctioned 118 artisanal mining rights for Cooperatives. This amplifies the count of issued rights for Cooperatives to 206 in the ongoing year. According to Samuel Maango, the Mining Cadastre Department Director, the initial approval of 88 artisanal mining rights for Cooperatives dates back to October 2023. Maango confirmed the issuance of letters of offer to these Cooperatives, with the mining Cadastre slated to embark on an inspection to verify the residency of the beneficiaries at their respective application… Read More Here
Vedanta Resources Limited Awaits Control of Konkola Copper Mines Post Arrangement Scheme 27 Mining in Zambia Copper News in Brief 

Vedanta Resources Limited Awaits Control of Konkola Copper Mines Post Arrangement Scheme

Constance
Vedanta Resources Limited clarified that it has not assumed managerial control at Konkola Copper Mines (KCM) until the scheme of arrangement concludes. Masuzyo Ndhlovu, Director of Corporate Communications at Vedanta Resources Zambia, explained that the scheme of arrangement denotes a legally approved agreement between a company and its creditors. Mr Ndhlovu elaborated that the scheme encompasses actions like withdrawing the Provisional Liquidator and reinstating the KCM Board. He emphasized that the company’s obligation to settle dues to creditors and employees will commence once all requisite processes are finalized for a… Read More Here
Anglo American submits $1.1 billion tailings, water management plan for Los Bronces 28 International Copper 

Anglo American submits $1.1 billion tailings, water management plan for Los Bronces

Constance
Anglo American (LON: AAL) submitted an environmental impact declaration before Chile’s Environmental Assessment Service (SEA), which is aimed at accelerating the tailings removal process from the Pérez Caldera Dam at its Los Bronces mine; adapting the operation’s water supply so that it functions with desalinated water; and repowering the recovered water system. In a statement sent to local media, Anglo American said that the $1.1 billion plan will pay special attention to re-pulping or moving mineral pulp or tailings from the Pérez Caldera dam to the Las Tórtolas tailings dam.… Read More Here
UMK announces reduction in Manganese production 29 Battery Metals International Press Release 

UMK announces reduction in Manganese production

Constance
Johannesburg: United Manganese of Kalahari (UMK) announced today that, in response to the worsening market conditions, it will reduce the production of manganese ore and concomitant to that, the sale of its ore products, for the time being. “Softened demand side conditions have informed our decision to ease production and sales,” said UMK chief executive Malcolm Curror.  He added that the company will return to normalised outputs when the market recovers.  Curror noted that the temporary slowdown in production and sales will have no impact on the company’s employee body. … Read More Here
Ivanhoe Mines' Kamoa-Kakula Copper Complex Begins Exports Through Lobito Atlantic Rail Corridor 30 Mining in DRC Copper Mining in Zambia Transport and Logistics 

Ivanhoe Mines’ Kamoa-Kakula Copper Complex Begins Exports Through Lobito Atlantic Rail Corridor

Constance
Ivanhoe Mines Executive Co-Chair Robert Friedland and President Marna Cloete announce today January 2nd that the first shipment of copper concentrate from the Kamoa-Kakula Copper Complex has arrived by rail at the Atlantic Ocean port of Lobito, in Angola. The first shipment is a part of the trial tonnage under the memorandum of understanding (MOU) signed between Lobito Atlantic International SARL (LAI or the Consortium) and Kamoa Copper S.A. (Kamoa Copper) on August 18, 2023. The rail line, linking the Democratic Republic of Congo (DRC) Copperbelt to the port of… Read More Here

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