Anglo American has rebuffed BHP Group’s $39 billion takeover bid, deeming it significantly undervalued. BHP, with a deadline of May 22 to make a binding offer, is expected to revise its bid to secure a deal that would create the world’s largest copper miner, a crucial player in the cleanContinue Reading
Wealthy Gulf countries are racing against China, Europe and the United States for minerals critical to powering the global green transition. The United Arab Emirates is increasing its push to acquire African mineral resources, scrambling against China, Saudi Arabia and others to secure contracts. Its latest foray is in Zambia,Continue Reading
Eurasian Resources Group (ERG) has refuted allegations of attempting to circumvent subcontracting laws in the Democratic Republic of Congo (DRC), aimed at promoting local ownership in the mining sector and fostering economic benefits. In response to Congo government’s accusations of presenting nine subcontracting companies as majority partners with fictitious sharesContinue Reading
Zambia, the world’s seventh-largest copper producer, is ramping up infrastructure and mineral exploration efforts while partnering with international firms to expand its renewable energy sector. Although its petroleum industry is relatively untapped, emerging developments driven by strategic positioning and promising geology present enticing opportunities for upstream investments. Regional Exploration SuccessContinue Reading
Xtract Resources has announced a joint venture (JV) agreement with Oval Mining, in collaboration with Cooperlemon Consultancy, aimed at acquiring up to a 70% stake in Zambia’s Silverking copper mine and its associated exploration license. The initial option period spans 18 months, during which Xtract is obligated to invest $500,000Continue Reading
Recently, Democratic Republic of the Congo’s President Félix Tshisekedi has outlined an ambitious plan to create approximately 6.4 million jobs during his second term, averaging about 1.3 million jobs annually. Central to this plan is leveraging the country’s principal export: mining. With the DRC’s untapped mineral resources estimated at $24Continue Reading
Zambia’s mining industry is experiencing a transformative phase, propelled by policy changes, targeted investments, and exploration endeavors to tap into the nation’s abundant mineral resources. Copper and emeralds represent 70% and 20% of Zambia’s export revenues respectively, leading the government to prioritize mining advancements for economic growth. Mopani Acquisition CompletedContinue Reading
Baker McKenzie, a leading international law firm, provided legal counsel to ZCCM Investments Holdings Plc (ZCCM-IH) in its significant partnership with International Resources Holding RSC Ltd (IRH) of Abu Dhabi, which invested via its subsidiary, Delta Mining Limited. Delta has secured a 51% stake in Mopani Copper Mines plc (MCM)Continue Reading
In February 2024, Zambian President Hakainde Hichilema described the initiative to link the country’s copper mines with a port in Angola as a “once-in-a-lifetime” opportunity. This U.S.-supported project, also backed by the European Union and the G7, involves constructing new railway tracks in Zambia to connect with existing lines inContinue Reading
As advancements in cobalt-free electric vehicle battery technology progress, Congolese officials are conflicted over the idea of implementing export restrictions on cobalt. The Democratic Republic of Congo (DRC), which is responsible for about 70% of the world’s cobalt supply, is considering export quotas to increase cobalt prices. This news wasContinue Reading
