Copperbelt Katanga Mining - Page 399 of 3429 - African Copperbelt's Top Mining News

Porto do Lobito Union Celebrates Enhanced Working Conditions and Worker Reintegration 21

The Trade Union Committee of Porto do Lobito expressed appreciation for the improvements in working conditions within the company. During the Workers’ Assembly at Casa do Pessoal do Porto do Lobito, marking its formalization’s first anniversary, Ernesto Muabi António, the Union Commission’s first secretary, highlighted the historical reintegration of some previously dismissed workers as a positive example. “While we continue addressing concerns among our associates regarding the company’s social fund, productivity bonus, professional qualifications, and more, we’re actively collaborating with the Administration to resolve these issues,” stated Ernesto. Responding to… Read More Here

Mining in DRC Battery Metals Mining in Zambia

DRC and Zambia urged to formulate robust policies for extraction and beneficiation of critical minerals

December 1, 2023December 1, 2023 Constance

Joint calls from activists in the Democratic Republic of Congo (DRC) and Zambia urge the governments of both nations to develop comprehensive policies regarding the extraction and enrichment of critical minerals, aligning them with industrial and economic transformation. In a combined statement, civil society organizations have issued recommendations to the authorities of Congo and Zambia, emphasizing the immediate need for a targeted skills policy. They stress the importance of training young Congolese and Zambians in vital skills and technology for the evolving industry. In the next five years, both countries… Read More Here

Mining in DRC Oil & Gas Petroleum

DRC Government Urges Oil Operators to Sustain Kinshasa Distribution

December 1, 2023December 1, 2023 Constance

In a swift response to the city’s petroleum supply concerns, Minister of Hydrocarbons Didier Budimbu convened an urgent meeting on November 29, 2023. The focus: ensuring uninterrupted distribution of petroleum products across Kinshasa. Budimbu rallied industry players, including representatives from the Ministries of Hydrocarbons, Finance, and the Presidency, alongside key companies in the supply chain. The urgency stemmed from the need to prevent speculation, particularly heightened during the ongoing electoral campaign. Clarifying the situation, Budimbu emphasized that the temporary disruption in Kinshasa did not equate to a shortage or storage… Read More Here

Mining in DRC Oil & Gas Petroleum

DRC Petroleum Product Subsidies to Hit $400M Mark in 2023

December 1, 2023December 1, 2023 Constance

The Democratic Republic of Congo (DRC) would not experience a shortage of stocks of petroleum products although it depends on the international situation. These assurances were given by the Minister of Finance, Nicolas Kazadi, during a press briefing organized on Tuesday, November 28, 2023, at the initiative of his colleague from Communication and Media, Patrick Muyaya. According to Nicolas Kazadi, the Congolese Government has already made some shortfall payments to oil companies. Like last year, the cost of subsidizing petroleum products in the Democratic Republic of Congo is estimated at… Read More Here

International

Global Uranium Prices Hit 15-Year High, Surpassing $80 USD per Pound Milestone

December 1, 2023December 1, 2023 Constance

Uranium prices have exceeded the US$80 per pound mark for the first time in more than 15 years. On the American stock exchange Nymex, futures contracts for yellowcake, a crude form of uranium, exceeded $80.25 on Monday, November 20, 2023. According to certain specialists, this historic peak comes after months of rising fuel prices, in a global context marked by the return to favor of nuclear power. Supply contracts with utilities responsible for purchasing uranium for nuclear power plants continue to intensify, according to Colin Hamilton, director of commodities research… Read More Here

Mining in DRC Economy Gold

DRC Initiates Central Bank Recapitalization to Strengthen Financial Independence

December 1, 2023December 1, 2023 Constance

The Democratic Republic of Congo (DRC) government has initiated a two-year process, from 2024 to 2025, to recapitalize the Central Bank, aiming to elevate its capital to 213 billion FC in compliance with existing legislation. This endeavor seeks to strengthen the institution’s financial autonomy. Finance Minister Nicolas Kazadi revealed on Tuesday that despite the DRC holding approximately 30% of global reserves, its central bank currently lacks monetary gold. He highlighted an ongoing plan to address this deficiency. While the gold standard system has ceased, gold retains its stature as a… Read More Here

International Mining Personality

Rio Tinto Chief to join IGO board

December 1, 2023December 1, 2023 Constance

Ivan Vella, former chief executive aluminium at Rio Tinto, will join the IGO leadership team as managing director and chief executive officer. Vella stepped down from his position at Rio in June, but remained with the company throughout the transition process. However, Vella’s contract with Rio was terminated on November 15. In a statement, Rio said the termination was due to the “failing to follow guidance on acceptable management of confidential information”. IGO spoke with both Vella and Rio Tinto about the termination, and has confirmed Vella’s future role with… Read More Here

Mining in DRC Cobalt Copper Economy

DRC’s Cobalt Prices Plunge Despite Global Supply Dominance

December 1, 2023December 1, 2023 Constance

The Democratic Republic of Congo (DRC), renowned for supplying 70% of the world’s cobalt, confronts a significant downturn in cobalt prices. Finance Minister Nicolas Kazadi highlighted the staggering drop in cobalt prices from $81,000 to $31,000 per tonne within a year, expressing deep concerns about this drastic plunge. As of November 23, 2023, copper prices surged by 2.27% to $8,306.35 per tonne. In contrast, cobalt prices experienced a slight 0.03% decline, reaching $32,737.31 per tonne, according to the Central Bank of Congo (BCC). Minister Kazadi stressed the challenge the DRC… Read More Here

Mining in Zambia Electricity Energy Partnership

FQM SIGNS LANDMARK POWER SUPPLY AGREEMENT WITH ZESCO

December 1, 2023December 1, 2023 Constance

First Quantum Minerals (FQM) and ZESCO have entered into a landmark Power Supply Agreement (PSA), marking a new era of cooperation and securing a sustainable energy supply for FQM’s Trident and Kansanshi mines in Zambia. The ten-year agreement marks a significant milestone in the relationship between the two companies and represents a new era of collaboration and sustainable energy development in Zambia. Under the terms of the PSA, ZESCO will supply over 420 Megavolt Amperes (MVA) of renewable power to FQM’s Trident and Kansanshi mine sites. This substantial power supply… Read More Here

Mining in Zambia Copper Mergers & Acquisitions New Mining Projects

Abu Dhabi’s IRH Selected as Strategic Partner to Revitalize Mopani Mine

December 1, 2023December 4, 2023 Constance

International Resources Holding RSC Limited (IRH), an affiliate of Abu Dhabi’s conglomerate International Holding Company PJSC (IHC), the UAE’s most valuable listed company and the GCC region’s second most valuable, has been chosen as the preferred strategic equity partner (SEP). IRH has set a strategy to invest in crucial minerals and establish a new entity covering the entire metals and mining supply chain. The proposed investment in Mopani Copper Mines (MCM) stands as IRH’s most substantial single investment so far. It signifies a pivotal move in their strategy to emerge… Read More Here

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