The government plans to transfer more than 40 of its reserved permits to a state-owned enterprise. Zambia is poised to significantly increase its copper production, with ambitions to more than quadruple output by the early 2030s, according to Bloomberg News. This ambitious plan requires substantial investment from companies to transitionContinue Reading
The Democratic Republic of Congo’s (DRC) state-owned mining company has submitted a bid to acquire Chemaf Resources’ local unit, after previously signaling opposition to a planned sale of the copper and cobalt miner to a Chinese investor. Chemaf, backed by Trafigura Group, spent nine months searching for a buyer beforeContinue Reading
Copper prices are expected to average around US$10,265 per tonne in the final quarter of 2024, according to estimates from Fastmarkets. Analysts at Reuters note that a positive economic outlook in both the United States and China will likely contribute to upward pressure on copper prices. Goldman Sachs has alsoContinue Reading
An investigation by La Guardia Magazine highlights the severe health consequences of intensive cobalt mining in Kolwezi, DRC, particularly on women’s reproductive health. From 2018 to 2023, cobalt production surged by 63%, increasing from 104,000 tons to 170,000 tons due to rising global demand for this essential mineral for energyContinue Reading
Kizito Pakabomba, the Congolese Minister of Mines, dismissed the proposal to create a separate financial authority for the mining sector during a press café in Kinshasa, organized by the mining registry. Pakabomba contended that forming another agency would introduce unnecessary bureaucracy, citing concerns from the International Monetary Fund (IMF) regardingContinue Reading
Mining services provider Makor Resources, in partnership with Jubilee Metals Zambia, has joined the Zambian government’s efforts to assist subsistence farmers affected by a recent drought that has severely impacted agriculture and food security in the country. Ndola District Commissioner Joseph Phiri, alongside Makor Resources CEO Brooke Bibeault and JubileeContinue Reading
The Zambia Environmental Management Agency (ZEMA) has approved 116 projects with a total investment value of approximately $1.91 billion during its ninth sitting in September 2024. Out of 121 projects reviewed, this approval marks a significant step forward for Zambia’s development across multiple sectors. The mining and mineral processing sectorContinue Reading
The Democratic Republic of Congo (DRC) has strongly condemned the United States Department of Labor’s inclusion of Congolese cobalt on its 2024 list of goods produced through child or forced labor. The DRC government labeled the decision as “unjustified,” arguing that it fails to recognize the substantial reforms made inContinue Reading
Saudi Arabia’s Manara Minerals is nearing the completion of a deal to acquire a minority stake in First Quantum Minerals’ Zambian copper and nickel operations, according to sources familiar with the negotiations. Manara, a joint venture between Saudi mining giant Ma’aden and the $925-billion Public Investment Fund, is in advancedContinue Reading
TSX-V-listed GoviEx Uranium has successfully completed a comprehensive metallurgical test program at Mintek in South Africa, aimed at validating the heap leach process for its Muntanga project in Zambia. The test results confirmed uranium recovery rates of 90% or higher from the main Muntanga and Dibbwi East deposits, which accountContinue Reading
