Tag: copper

Zambia rejects Glencore copper mine’s suspension plan

Operations were halted at its mines at the start of April, with Mopani citing the COVID-19 pandemic and other problems, but mining resumed a month later after the decision sparked a backlash from the Zambian government.

Congo mines minister to meet with firms on confinement moratorium

“Coronavirus has dealt a fatal blow to mining activities, with the impossibility of repatriating capital, importations of products for the industry coming to a halt, the dizzying drop in metals prices on global markets in March,” he said.

‘Welcome to the age of copper’: Why the coronavirus pandemic could spark a red metal rally

The coronavirus pandemic is set to pave the way for “the age of copper,” according to the director of energy, climate and resources at Eurasia Group, as governments double down...

Here’s what makes DRC mining sector a strategic economic driver for the country

Copper production in the Democratic Republic of Congo (DRC) increased by 17 per cent year-on-year to 1.433 million tons in 2019. It is projected that by 2027, demand for copper will surge by 900 per cent. How is DRC positioning itself to increase supply and satisfy this demand? Still in DRC, Barrick Gold announced that it would not approve Congolese parastatal, Société Minière de Kilo-Moto’s (SOKIMO) intended sale of its 10 per cent interest in the Kibali Gold Mine to AJN Resources. Yves Kabongo, Vice Chairman of Makutano Foundation joins CNBC Africa for more.

Why Zambia is seeking a new investor in Vedanta-controlled copper miner

A move likely to stoke international miners’ concerns about rising government intervention in the sector.

As mines warn of job losses as higher taxes implemented, Zambia says they’ve failed to show impact, here’s why

Africa’s second-largest copper producer, increased its sliding scale for royalties of 4 to 6 percent by 1.5 percentage points from Jan. 1 and introduced a new 10 percent tax when the price of copper exceeds $7,500 per tonne.

Zambia’s power costs “defining issue” for mining -chamber of mines

Zambia's electricity costs will be the "defining issue" for the mining sector this year and beyond, Chamber of Mines President Nathan Chishimba said on Thursday. The southern African country, which is a major...