Breaking News
Copper price at four-month high on strong Chinese imports 21 International Copper 

Copper price at four-month high on strong Chinese imports

Constance
Copper prices spiked on Wednesday to their highest level in over four-and-a-half months on restocking in China and firmer physical demand. Three-month copper on the London Metal Exchange was little changed at $8,591 per metric ton by 1200 GMT after touching $8,665, the highest since Aug. 4. Copper for delivery in March rose on the Comex market in New York, touching $3.94 per pound ($8,668 per tonne), up 0.2% compared to Tuesday’s closing. China bought more copper in November, growing copper cathode imports by 13.5% from October to 378,791 tons,… Read More Here
FQM committed to Panama amid mine dispute, CEO says 22 Uncategorized 

FQM committed to Panama amid mine dispute, CEO says

Constance
First Quantum Minerals Ltd. says it remains committed to Panama and its flagship mine, even as the company follows orders from the government to indefinitely shutter the $10 billion operation. First Quantum received an initial “framework” from Panamanian authorities on Tuesday for closing the mine by June of next year, and will follow up with the government to discuss the details of executing the shutdown, chief executive officer Tristan Pascall said in an interview. Panama’s decision to close the massive mine in the wake of countrywide protests has sent shockwaves… Read More Here
FQM says Panama hasn’t given legal basis to close mine 23 Copper International 

FQM says Panama hasn’t given legal basis to close mine

Constance
Panama’s government hasn’t provided a legal basis to First Quantum Minerals Ltd. for pursuing a closure plan for its giant copper mine in the country, according to the metals producer. First Quantum has been unable to formally engage with the Central American government to clarify the legal situation and associated environmental obligations for its Cobre Panama mine, the Vancouver-based company said Friday in a statement. First Quantum’s statement comes two days after Panama’s Ministry of Commerce and Industries said it was pursuing a closure plan that will take several months… Read More Here
price of cobalt falls to 28,579 USD per tonne at the end of December 2023 in DRC 24 Mining in DRC Battery Metals Cobalt Copper 

price of cobalt falls to 28,579 USD per tonne at the end of December 2023 in DRC

Constance
Despite its essential role in the automobile industry, particularly in the manufacture of electric batteries, the price of cobalt has continued to plummet on international markets for almost a year.During the week from December 25 to 30, 2023, the price of cobalt is expected to fall by 8.70% or USD 28,579 per tonne this week compared to USD 31,302 per tonne a week previously. Apart from cobalt, tantalum is also expected to see a slight drop in price this week to USD 212.40 from USD 213.00, a drop of 0.28%… Read More Here
Accusations Surface Against Gécamines Director General 25 Mining in DRC Mining Personality 

Accusations Surface Against Gécamines Director General

Constance
The Director General of Generale des Carrières et des Mines (Gécamines), Placide Nkala Basadilua, faces allegations that go beyond “bad management” flagged by the General Inspectorate of Finance (IGF). Accusations now include transforming an IGF control mission into a consultancy contract for a campaign budget and infringing upon the authority of the Private Sector Subcontracting Regulatory Authority (ARSP) by recommending subcontractors without due process. In a letter dated November 7, 2023, Jules Alingete, the Inspector General at IGF, detailed a consultancy mission to Gécamines aimed at fortifying budgetary, financial, and… Read More Here
FSC TFM OFFICIALLY HANDOVER MANAGEMENT OF STAFFING TO DOT-TFM 26 Mining in DRC 

FSC TFM OFFICIALLY HANDOVER MANAGEMENT OF STAFFING TO DOT-TFM

Constance
Tuesday, December 12, 2023 will remain marked in the annals of Tenke Fungurume Mining (TFM) by the handover and resumption between the TFM Community Social Fund (FSC TFM ASBL), led by Hugo Sinza, and the TFM Donation (DOT-TFM), a specialized body of the Congolese state which will henceforth be led by Jean-Bedel Akalo.  This official handing over and resumption of the management scepter of the allocation of 0.3 percent of TFM’s turnover comes 13 years after the creation of FSC TFM, which aimed to support the sustainable development of local… Read More Here
AfDB Injects $9.72 Million into Modernizing Africa’s Hydropower Systems 27 Mining in DRC Hydro power plant 

AfDB Injects $9.72 Million into Modernizing Africa’s Hydropower Systems

Constance
The Sustainable Energy Fund for Africa (SEFA), managed by the African Development Bank (AfDB), has allocated $9.72 million to drive the Africa Hydropower Modernization Program (AHMP), aiming to overhaul hydropower systems across the continent. The funds will expand ongoing AHMP efforts, focusing on 12 private sector-led projects in eight countries. Noteworthy projects include upgrading the cooling water system of Sudan’s 280 MW Roseires plant to mitigate forced outages and replacing electromechanical equipment at the 7 MW Lubilanji 1 plant in the Democratic Republic of the Congo. “About half of Africa’s… Read More Here
Top 5 Investments Made in Africa’s Critical Minerals in 2023 28 Battery Metals Cobalt Copper Lithium 

Top 5 Investments Made in Africa’s Critical Minerals in 2023

Constance
The surge in global interest in critical minerals, essential for sustainable energy technologies and electric vehicles, has unleashed a wave of investments across Africa, home to 30% of the world’s mineral reserves. This year witnessed an influx of deals, cooperative agreements, and strategic investments aimed at fortifying the continent’s role in the global critical mineral supply chain. Here are the top five transformative investments that reshaped Africa’s critical mineral landscape in 2023. 1.Japan and UK Forge Joint Investments in African Critical Minerals Announced in September, Japan and the UK unveiled… Read More Here
Top 5 Rail Projects to Watch in Africa 29 Transport and Logistics Infrastructural Development 

Top 5 Rail Projects to Watch in Africa

Constance
Positive GDP growth, new energy and mining developments, and growing competitiveness of regional supply chains have resulted in surging demand for the development of Africa’s railway sector. As the continent undergoes unprecedented economic development – driven by fast-growing populations and rapid urbanization – Africa’s transport industry is poised to expand and support trade activities, while reducing carbon emissions and lowering transport costs. Accordingly, several African countries have partnered with international financial and development institutions in recent years with the objective of attracting finance to invest in enhanced rail infrastructure throughout… Read More Here

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