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SICOMINES undertakes to respect the requirements of the law on subcontracting 21 Mining in DRC Mining Policy 

SICOMINES undertakes to respect the requirements of the law on subcontracting

Constance
After more than 15 years of activity, SICOMINES is finally committed to transferring all its secondary activities to Congolese subcontractors. Hence the satisfaction of the Director General of the Regulatory Authority for Subcontracting in the Private Sector (ARSP), Miguel Kashal. According to the subcontracting policeman, the commitment made by the mining company SICOMINES is the result of the control carried out by the ARSP in execution of the firm instructions of the Head of State, Félix-Antoine Tshisekedi. The latter wants companies with predominantly Congolese capital to be involved in the… Read More Here
Mining Giant Anglo American to Cut Copper and Iron Ore Production 22 International Copper Iron Ore 

Mining Giant Anglo American to Cut Copper and Iron Ore Production

Constance
Anglo American plans to reduce iron ore and copper output in the near term to lower costs, one of the world’s top mining companies said last week as it fights to boost its share price that has slumped by over 30% this year. After the production, capex, and costs guidance on Friday last week, shares of Anglo American – which produces copper, nickel, platinum group metals, and diamonds, among others – slumped by 6.5% on the London Stock Exchange in the early morning.Year to date, Anglo American’s stock has lost… Read More Here
Vedanta Resources Nears $1.25 Billion Fundraising with Standard Chartered Bank 23 International 

Vedanta Resources Nears $1.25 Billion Fundraising with Standard Chartered Bank

Constance
Vedanta Resources, the London-based parent of India’s oil-to-metals conglomerate Vedanta, is close to finalizing a $1.25 billion loan availed jointly from Standard Chartered Bank and Cerberus Capital Management that could help it avert a default on bonds due in January, said people aware of the matter. Standard Chartered Bank will underwrite $950 million of the $1.25 billion financing while New York-based Cerberus Capital will cover the remaining $300 million, the people said. Standard Chartered Bank is in talks with Davidson Kempner, Ares Management and Varde Partners to distribute a portion… Read More Here
Angola, DRC, and Zambia Experts Conclude Lobito Corridor Transport Meeting 24 Transport and Logistics Mining in DRC Mining in Zambia 

Angola, DRC, and Zambia Experts Conclude Lobito Corridor Transport Meeting

Constance
Experts from Angola, the Democratic Republic of Congo (DRC), and Zambia wrapped up a multi-day meeting in Lobito today December 15th, focusing on groundwork for the inaugural session of the Transport Facilitation Agency of Lobito Corridor Transit (AFTTCL) Ministers Committee. The initial discussions centered on the ratification of the Lobito Corridor Tripartite Transit Transport Facilitation Agreement among the three member states. Additionally, key aspects included the establishment of the AFTTCL Provisional Secretariat and deliberations on the master plan for the corridor. Pedro Maza, Director of the Legal and Exchange Office… Read More Here
Glencore to update climate plan in 2024 after investor pressure 25 International Coal 

Glencore to update climate plan in 2024 after investor pressure

Constance
Glencore will publish an updated climate action transition plan in March 2024, it said on Wednesday, after some investors rejected its climate progress report and it agreed to buy Canadian miner Teck Resources’ steelmaking coal business. More than 30% of Glencore’s investors, including major shareholder BlackRock, rejected the company’s climate report at its annual meeting in May, demanding more clarity on how it will meet its commitments to cut emissions. Around 29% of shareholders also backed a resolution seeking more disclosure on progress in scaling back its production of thermal… Read More Here
Billionaires' Backed KoBold Metals on Global Hunt for Lithium 26 Lithium Battery Metals Mining in DRC Mining in Zambia 

Billionaires’ Backed KoBold Metals on Global Hunt for Lithium

Constance
KoBold Metals, with endorsements from figures like Bill Gates and Jeff Bezos, ventures across four continents in pursuit of lithium reserves. The California-based startup, employing AI-driven exploration methods, expands its search for this vital metal—integral to electric vehicles and cutting-edge technology. CEO Kurt House revealed KoBold’s endeavor to uncover lithium in South Korea, Canada (Quebec), the United States, Australia, and Africa. The company, previously focused on nickel and copper, now adds lithium to its mining interests following successful explorations in Canada and Zambia. “By harnessing the insights from our lithium… Read More Here
FQM’S KANSANSHI MINE SETS NEW ENVIRONMENTAL MILESTONES WITH GREEN INITIATIVES  27 Mining in Zambia Copper Environment Social Governance (ESG) Press Release 

FQM’S KANSANSHI MINE SETS NEW ENVIRONMENTAL MILESTONES WITH GREEN INITIATIVES 

Constance
Plastic waste pollution has emerged as a pressing global issue, one that affects our environment, wildlife, and human health. The production and consumption of plastics have skyrocketed over the past few decades. And while plastic has undoubtedly revolutionised industries and made everyday life more convenient, its disposable nature has led to a crisis. However, transitioning to more sustainable practices, such as recycling and adopting alternative materials, can lead to cost savings and new economic opportunities, not just for the country but also for companies that consume plastics on a daily… Read More Here
Kagem and mine workers unions reach 2024/2025 collective agreement  28 Mining in Zambia Precious Stones 

Kagem and mine workers unions reach 2024/2025 collective agreement 

Constance
Kagem Mining Limited (Kagem), the Mine Workers Union of Zambia (MUZ) and the National Union of Miners & Allied Workers (NUMAW) that represent Kagem’s unionised employees are pleased to confirm that they have reached a collective agreement on employee pay increases for 2024 and 2025.Based on the agreement, unionised employees will receive a 10% increment in pay for 2024 and a further 10% in 2025. Additionally, the agreement confirms an increase on the education allowance for employees from the current ZMW 1,500 to ZMW 2,000. Following successful negotiations between the… Read More Here
Porgera Gold Mine Set to Restart Production This Month 29 International Gold 

Porgera Gold Mine Set to Restart Production This Month

Constance
Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) announced today that the Porgera mine in Papua New Guinea (PNG) is set to resume operations later this month and is expected to start pouring gold again in the first quarter of 2024.  This follows the satisfaction of the conditions to the Porgera Project Commencement Agreement, in which a new ownership structure was agreed. Barrick president and chief executive Mark Bristow said the reopening of the mine represented another victory for the company’s host-country partnership model which had been very successful in Tanzania and had also… Read More Here
BLM Approval Paves Way for Goldrush Underground Mine at Barrick's Cortez Complex in Nevada 30 Gold International 

BLM Approval Paves Way for Goldrush Underground Mine at Barrick’s Cortez Complex in Nevada

Constance
The US Bureau of Land Management has issued a Record of Decision (“ROD”) approving Nevada Gold Mines’ (“NGM”) plan of operations for its new Goldrush underground mine at the Cortez Complex near Beowawe, Nevada. The long-life mine is expected to start ramping up production in 2024 after the commissioning of the initial project infrastructure and is forecast to produce 130,000 ounces in 2024 and grow to approximately 400,000 ounces per annum by 2028 (100% basis)1. Barrick and NGM have invested more than $370 million in the project to date and… Read More Here

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