Breaking News
DRC's Cobalt Prices Plunge Despite Global Supply Dominance 22 Mining in DRC Cobalt Copper Economy 

DRC’s Cobalt Prices Plunge Despite Global Supply Dominance

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
FQM SIGNS LANDMARK POWER SUPPLY AGREEMENT WITH ZESCO 23 Mining in Zambia Electricity Energy Partnership 

FQM SIGNS LANDMARK POWER SUPPLY AGREEMENT WITH ZESCO

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
Abu Dhabi's IRH Selected as Strategic Partner to Revitalize Mopani Mine 24 Mining in Zambia Copper Mergers & Acquisitions New Mining Projects 

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

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
SANDVIK EQUIPMENT TENDER TO BOLSTER KAMOA-KAKULA COPPER OPERATION 25 Mining Equipment Contracts & tenders Mining in DRC Mining Supply Tenders 

SANDVIK EQUIPMENT TENDER TO BOLSTER KAMOA-KAKULA COPPER OPERATION

Constance
JMMC, a subsidiary of JCHX Mining Management Co., Ltd., has announced a significant collaboration with Sandvik Mining and Rock Solutions. The deal involves the procurement of 15 new units of underground equipment destined for the Kamoa-Kakula copper operation situated in the Democratic Republic of the Congo (DRC). The comprehensive order consists of eight Toro™ TH663i trucks, five Toro™ LH621i loaders, and two Sandvik DL432i longhole production drills. The deliveries are scheduled across the initial three quarters of 2024. This acquisition will notably expand the Sandvik mobile fleet, establishing a count… Read More Here
Glencore's Mutanda Mine Faces Cobalt Output Decline Due to Ore Depletion 26 Mining in DRC Battery Metals Cobalt 

Glencore’s Mutanda Mine Faces Cobalt Output Decline Due to Ore Depletion

Constance
Glencore’s Mutanda mine in Congo is confronting a significant reduction in cobalt production, projected to be up to 15% less per year, according to sources familiar with the situation. The decline in cobalt output at Mutanda is attributed to diminishing surface oxide ore deposits. To tackle this challenge, Glencore is exploring the necessity of investing in the extraction and processing of sulphide ores located deeper underground, as indicated by the sources. The London-based mining company is currently engaged in a comprehensive feasibility study aimed at evaluating the required investment and… Read More Here
FQM Mine Faces Shutdown in Panama After Ruling, Confirms President 27 International Copper 

FQM Mine Faces Shutdown in Panama After Ruling, Confirms President

Constance
Panama’s government said it will shut a $10 billion copper mine owned by First Quantum Minerals Ltd., damping hopes that the company might reach a new deal to keep operating after a supreme court ruling against it. Authorities will start “the transition process for the orderly and safe closure of the mine,” President Laurentino Cortizo said in a post on X Tuesday. He didn’t say how long the process might take. Production had already been halted after protesters blocked supplies from reaching the mine. The announcement caps a dramatic six… Read More Here
Panama’s top court rules FQM contract unconstitutional 28 Copper International 

Panama’s top court rules FQM contract unconstitutional

Constance
Panama’s Supreme Court ruled on Tuesday that First Quantum Minerals’ contract to operate its giant Cobre Panama copper mine, the only mining operation in the Central American country, is unconstitutional. Challenges against the contract, which would have allowed Cobre Panama to keep operating for the next 20 years, piled up in court following public protests against the deal inked in October by the government and First Quantum’s local subsidiary, Minera Panama. The court began deliberations on Friday and continued over the weekend. It announced a 12-hour break at the end… Read More Here
First Quantum Reports Fatalities at Kansanshi, Sentinel Operations 29 Mining in Zambia Copper Safety & Health 

First Quantum Reports Fatalities at Kansanshi, Sentinel Operations

Constance
It is with deep regret that First Quantum Minerals Ltd. announced the death of a team member from its contracting partner, Reliant Drilling, at the Company’s Kansanshi operation following a fall of ground at the underground dewatering decline on the evening of Thursday, November 23. In a separate incident on Friday, November 24, a contractor team-member from Omega Risk Solutions was tragically killed in a light vehicle accident when the car he was driving rolled at Sentinel. A passenger in the vehicle was also injured and is in a stable condition.… Read More Here
Ivanhoe Mines Announces the KITOKO Sedimentary Copper Discovery in Western Foreland in the DRC 30 New Mining Projects Mining in DRC 

Ivanhoe Mines Announces the KITOKO Sedimentary Copper Discovery in Western Foreland in the DRC

Copperbelt Katanga News
Kitoko discovery includes drill hole DD008 intersecting 5.19 metres true width, grading 11.64% copper, at a 1% copper cut-off Kitoko is Ivanhoe’s fifth high-grade sedimentary copper discovery in the DRC Mineralogical characteristics of Kitoko are most similar to those of the tier-one Kakula copper orebody Discovery zone traced over a 1.9-kilometre strike and open in all directions Expanded drilling program continues around Kitoko and other Western Foreland targets Ivanhoe Mines Founder and Executive Co-Chair Robert Friedland and President Marna Cloete are excited to announce today that the company has made… Read More Here
Ivanhoe Mines to Commence Exploration Activities in Angola 31 New Mining Projects International 

Ivanhoe Mines to Commence Exploration Activities in Angola

Copperbelt Katanga News
22,195 square kilometres of prospecting rights granted in Moxico and Cuando Cubango provinces Licence package equivalent to half the size of Switzerland Project mobilization to commence in Q1 2024 United States Geological Survey also signs MOU with Geological Institute of Angola for the mapping of the country’s critical minerals Luanda, Angola– Ivanhoe Mines Executive Co-Chair Robert Friedland and President Marna Cloete are pleased to announce that the company has been granted 22,195 square kilometres of greenfield prospecting rights for exploration in the Moxico and Cuando Cubango Provinces of Angola. A… Read More Here

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