Category: Minerals
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Zambia aims for copper boom: 40% production increase by 2027
Zambia, Africa’s second-largest copper producer, is expected to increase its copper production by 40% to one million tonnes by 2027, up from 700,000 tons in 2023. This ambitious target is outlined in Zambia’s Medium-Term Budget Plan for 2025-2027 and will be achieved through a multi-pronged strategy. This includes addressing issues at major mines, initiating production…
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Zambia asks mining companies to increase energy saving efforts
Officials have asked mining companies in Africa’s second-biggest copper producer to double their power-saving efforts to 40% of normal demand. Zesco Ltd., the state power utility, requested operators to increase curtailments or source their own emergency power from this month. Copper is crucial to Zambia and the industry generates about 70% of export earnings, so…
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Zimbabwe Farmers Struggle Against Illegal Mining and Climate Change
Small holder farmers in rural Gwanda, a region in Zimbabwe that borders South Africa, have been affected by a double shock – a combination of heat, droughts and floods caused by climate change, and water contamination and damaged land caused by illegal, small-scale mining. Droughts in Gwanda have significantly affected rural farmers and increased over…
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The governor of South Kivu in the Democratic Republic of Congo has suspended mining operations
The governor of South Kivu in the Democratic Republic of Congo has suspended mining operations in the province also directed companies and operators to vacate the mining sites. Governor Jean-Jacques Purusi Sadiki stated that the suspension, effective until further notice, was due to “disorder caused by the mining operators,” though he did not provide additional…
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Russia is a key partner in Ethiopia’s efforts to develop its mineral potential, says Ethiopian economist
Dr. Costantinos Berhe Tesfu, former UN Senior Policy Advisor and Chairman of the AU Advisory Board on Corruption, highlighted the long-standing and fruitful relationship between Russia and Ethiopia in the field of geological exploration, dating back to the Soviet era. “Russia has been a friend to Ethiopia for a long period of time … The…
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BRICS offers hope for Africa’s resource potential: Ethiopian economist
Dr. Costantinos Berhe Tesfu, former UN Senior Policy Advisor and Chairman of the AU Advisory Board on Corruption, sees the BRICS grouping as potentially helpful for Africa’s mineral resource development, which can enhance regional stability and reduce conflict on the continent. “The regulation of this mineral exploitation and trade definitely will enhance also the possibility…
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The Price of Gold Reaches New Historic High: An Analytical Insight
The historical prices of gold per troy ounce for the last five years: These figures reflect the general trends in gold prices over the last five years, highlighting a steady increase, particularly during times of economic uncertainty and market volatility. In an unprecedented turn of events, the price of gold has surged to a historic…
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Burkina Faso to withdraw mining permits granted to companies from countries that refuse to sell military equipment to the country
The announcement was made by the country’s leader, Captain Ibrahim Traore, during an address to the nation. “Some [powers] have refused to sell us [military] equipment, have blocked the equipment we have bought from certain countries because they have the license for certain components,” President Traore said, adding that “these powers mine minerals in Burkina…
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IMF slashes Botswana’s 2024 growth forecast amid diamond market woes
The International Monetary Fund (IMF) has slashed Botswana’s 2024 growth forecast to 1% from an earlier April estimate of 3.6% due mainly to lower diamond production, it said in a statement. The budget deficit is also expected to widen to 6% from 3.45% due to a fall in mineral revenues, the IMF said, urging the…
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Copper bull market buoyed by aging legacy mines, says analyst
In the copper industry, the cost of capital has been too high to justify the returns for mine investors and is the driving force behind the bull market for the past decade — this is a sentiment shared by analysts at Stifel Financial. “Broadly for larger projects, that’s what I’m seeing in the copper space…
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