Kansanshi Mining, a subsidiary of First Quantum Minerals (FQM), reported impressive financial results for the first half of 2024, buoyed by higher copper prices and improved ore grades, despite ongoing electricity challenges in Zambia. The company achieved a net profit of $117 million, marking a significant recovery from a netContinue Reading
The Ministry of Commerce, Trade and Industry (MCTI) has signed a Memorandum of Understanding (MoU) with the National Quality Institutions (NQI) to implement the Lobito Corridor Trade Facilitation Project, backed by an $8.1 million grant from the African Development Bank. This initiative aims to improve both domestic and cross-border tradeContinue Reading
A long-standing dispute between a Glencore Plc subsidiary and the Democratic Republic of Congo (DRC) revolves around a deal made years ago by Israeli businessman Dan Gertler, who has been sanctioned by the US for alleged corruption. The conflict involves the Kamoto Copper Company (KCC), a significant copper and cobaltContinue Reading
ZESCO has announced plans to deliver a more reliable and consistent energy supply during the scheduled load shedding hours starting Wednesday, following the full resumption of operations at Maamba Energy on Tuesday evening. During a media briefing in Lusaka, Transmission Operations and Trade Director Justin Loongo stated that ZESCO hasContinue Reading
Metso has secured a major contract from Barrick Gold to supply critical process equipment for the Lumwana copper project in Zambia. Valued at around €70 million ($78.12 million), this order will be included in the minerals segment’s third-quarter 2024 intake. As part of the agreement, Metso will deliver a completeContinue Reading
On September 30, global mining leader BHP published a report indicating that the transition to sustainable energy will boost copper demand by an additional one million tonnes annually through 2035. The rising adoption of copper-intensive technologies, especially in renewable energy and electric vehicles (EVs), has already led to a doublingContinue Reading
n October 3, 2024, Zambian President Hakainde Hichilema, accompanied by his cabinet members, officially launched the development of a Super Pit at Barrick’s Lumwana copper mine. The feasibility study for this expansion is anticipated to be completed by the end of the year, setting the stage for construction to commenceContinue Reading
Barrick Gold Corporation (NYSE)(TSX) has reached an agreement with the government of Mali to pursue a global resolution to the ongoing claims and disputes involving Barrick’s Loulo and Gounkoto gold mining operations. The specifics of the agreement, primarily based on Barrick’s initial proposals, will be disclosed once the settlement termsContinue Reading
Barrick Gold (TSX: ABX)(NYSE: GOLD) announced on Tuesday the discovery of significant new gold deposits near its Kibali mine in the Democratic Republic of Congo (DRC). These deposits, found at Africa’s largest bullion operation, are expected to extend the mine’s lifespan and enhance production capabilities. During a media briefing, PresidentContinue Reading
Canada Rare Earth Corp. has finalized a supply agreement with SAKIMA SA, a state-owned mining company in the Democratic Republic of Congo (DRC), through its wholly owned subsidiary, Simba Essential Minerals. This agreement significantly bolsters Canada Rare Earth’s supply chain for rare earths and other essential minerals sourced from theContinue Reading
