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Statunga Investments Secures Key License for Zambia’s Luansobe Copper Project Expansion 1 Mining in Zambia Copper Exploration New Mining Projects 

Statunga Investments Secures Key License for Zambia’s Luansobe Copper Project Expansion

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Zambian mining firm Statunga Investments Limited has obtained an additional small-scale mining license for the Luansobe Copper Project in Zambia. This new license, numbered 34545-HQ-SML, is valid for ten years and authorizes the exploration and extraction of copper, as well as other base and precious metals, over a 384-hectare area. “We now have a second mining license for Luansobe, covering the underground resource area,” stated Colin Bird, Chairman of Galileo Resources. The license supports Galileo Resources’ strategy to develop both open-pit and underground resources at Luansobe. The company is also… Read More Here
Tertiary Minerals Commences Drilling at Mukai- Copper Project 2 Mining in Zambia Drilling Mining Projects 

Tertiary Minerals Commences Drilling at Mukai- Copper Project

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The Company has announced that First Quantum Minerals Limited (“First Quantum”) has commenced drilling at the Mukai Copper Project in Zambia following the receipt of all necessary consents. Highlights · The Company has received approval from the Department of Forestry to conduct further mineral exploration, including drilling, in the Licence area (the “Licence”). · Consent has also been granted by the leadership of local tribal group, the Musele Royal Establishment (“Musele Chiefdom”), to conduct mineral exploration on the Licence · Phase 1 drill programme, now underway, will comprise up to… Read More Here
Zambia's New Policy on Mining Stakes to Preserve Current Operations 3 Mining in Zambia Mining Projects 

Zambia’s New Policy on Mining Stakes to Preserve Current Operations

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Zambia’s recent plan to increase its ownership stake in specific mining projects will not impact current operations or exploration activities, a senior government official has confirmed. In August, the Ministry of Mines introduced a policy for a state-owned entity to hold at least a 30% share in future critical mineral projects. This approach is designed exclusively for over 40 government-reserved mining permits, and the government plans to attract investment partners to develop these assets, explained Jito Kayumba, special assistant for finance and investment to President Hakainde Hichilema. “No entity currently… Read More Here
IRH Advances Sustainable Transformation at Zambia’s Mopani Copper Mines 4 Mining in Zambia Copper Corporate News 

IRH Advances Sustainable Transformation at Zambia’s Mopani Copper Mines

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International Resources Holding RSC Ltd. (IRH), a natural resources subsidiary of 2PointZero, has shared updates on transformative initiatives underway at the Mopani Copper Mines in Zambia. Acquired in early 2024, IRH aims to establish Mopani as the Copperbelt’s most productive copper mine through technological innovation, sustainability, and workforce collaboration. Transforming Mopani Copper Mines IRH’s acquisition of Mopani Copper Mines aligns with a vision to modernize and decarbonize the operation, with a target to increase copper production to 200,000 tonnes annually within three years. This initiative supports Zambia’s national goal of… Read More Here
Glencore Maintains 2024 Production Targets Amid Positive Q3 Performance 5 Corporate News International 

Glencore Maintains 2024 Production Targets Amid Positive Q3 Performance

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Glencore has reaffirmed its full-year 2024 production guidance across all commodities, the company announced in its third-quarter production report on October 30. This stable outlook reflects the addition of steelmaking coal from the July acquisition of a 77% stake in Elk Valley Resources (EVR), Canadian company Teck’s steelmaking coal business, according to CEO Gary Nagle. Throughout Q3, several key operations saw production increases. African Copper output rose by 6,000 tons (13% quarter-over-quarter), Antapaccay by 9,000 tons (35%), Kazzinc by 13,000 tons (27%), Murrin Murrin by 1,000 tons (7%), and Australian… Read More Here
Mercuria Eyes African Investments to Expand Metals Trading Operations 6 International 

Mercuria Eyes African Investments to Expand Metals Trading Operations

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Kostas Bintas, Mercuria Energy Group’s new head of metals, has announced that the trading house is considering stakes in African projects to establish a large-scale metals business. “You will see us very present in Africa and putting our money where our mouth is in respect of the Copperbelt,” Bintas said during a panel at the Financial Times Africa Summit on Wednesday, referring to Africa’s mineral-rich region. Traditionally known for its expertise in oil, natural gas, and power, Mercuria made a substantial return to metals trading this year. This move aligns… Read More Here
Ivanhoe Mines Issues Third Quarter 2024 Financial Results 7 Mining in DRC Cobalt Copper 

Ivanhoe Mines Issues Third Quarter 2024 Financial Results

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 Ivanhoe Mines’ (TSX: IVN) (OTCQX: IVPAF) President Marna Cloete and Chief Financial Officer David van Heerden are pleased to present the company’s financial results for the three and nine months ended September 30, 2024. Ivanhoe Mines is a leading Canadian mining company developing and operating its four principal mining and exploration projects in Southern Africa: expanding production at the world-class Kamoa-Kakula Copper Complex in the Democratic Republic of Congo (DRC); ramping up the ultra-high-grade Kipushi zinc-copper-lead-germanium mine in the DRC; building the tier-one Platreef palladium, rhodium, nickel, platinum, copper and gold… Read More Here
Saudi Arabia Nears Stake Acquisition in Zambian Copper Mine as Part of Mining Expansion 8 Mining in Zambia Copper Mergers & Acquisitions 

Saudi Arabia Nears Stake Acquisition in Zambian Copper Mine as Part of Mining Expansion

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Saudi Arabia is in the final stages of negotiating a stake in a Zambian copper mine, with expectations for a deal to close by year-end, according to Robert Wilt, CEO of Ma’aden, Saudi Arabia’s leading mining company. Speaking at the Future Investment Forum in Riyadh, Wilt indicated that discussions with the Zambian mine’s owners are progressing well. “We’re in advanced discussions with a company and a mine in Zambia, and we expect to finalize by year-end,” said Wilt, who also serves as vice chairman of Saudi Arabia’s international mining venture,… Read More Here
Codelco Reports 4.9% Drop in Copper Output as it Aims for Production Recovery 9 International Copper 

Codelco Reports 4.9% Drop in Copper Output as it Aims for Production Recovery

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SANTIAGO – Chile’s state-owned mining giant, Codelco, reported 918,000 metric tons of copper production from January through September, marking a 4.9% decline from the same period last year, according to a filing with the country’s financial regulator on Wednesday. Copper production in the third quarter reached 338,000 metric tons, a 2% increase year-over-year, as Codelco works to address declining ore quality in its key deposits and boost output despite challenges with its priority mining projects. “This quarter, we reversed the downward trend and started to recover production. We will continue… Read More Here
Global Gold Demand Soars Amid Strong ETF Inflows in Q3 10 International Gold 

Global Gold Demand Soars Amid Strong ETF Inflows in Q3

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Healthy inflows into global gold exchange-traded funds (ETFs) significantly boosted gold demand in the third quarter, according to the World Gold Council. Combined with ongoing investor interest in over-the-counter markets, these factors contributed to a series of record-high gold prices during the period. While gold jewelry consumption declined due to rising prices, India experienced a notable rebound following a reduction in gold import duties. Net demand from central banks slowed but remained robust, with official institutions purchasing a net total of 186 tonnes of gold in the quarter. Year-to-date purchases… Read More Here

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