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DRC: DRC Poised to Surpass Peru as World’s Second Largest Copper Producer The Democratic Republic of Congo (DRC) is on the cusp of a significant milestone in the global copper market, with forecasts indicating its imminent rise to become the world’s second-largest copper producer, surpassing Peru.

DRC surpasses Peru as the world's second-largest copper producer in 2023. Copper production in DRC reaches 2.84 million tonnes, exceeding Peru's 2.76 million tonnes. DRC's investment in infrastructure aims to boost copper mining and attract foreign investment.

DRC SURPASSES PERU AS SECOND-LARGEST COPPER PRODUCER The Democratic Republic of Congo (DRC) has achieved a significant milestone by surpassing Peru as the world’s second-largest copper producer. Previously, Peru held this position, trailing behind Chile, one of the leading copper producers globally. The DRC, renowned for its abundant mineral resources, particularly copper, has seen a notable rise in its copper production. Initial estimates from Statista projected Chile to produce 5.3 million metric tons of copper in 2023, with Peru following closely at 2.6 million metric tons and the DRC at 2.5 million metric tons. However, recent reports…READ MORE HERE https://lnkd.in/di8Y-c82

DRC SURPASSES PERU AS SECOND-LARGEST COPPER PRODUCER The Democratic Republic of Congo (DRC) has achieved a significant milestone by surpassing Peru as the world’s second-largest copper producer. Previously, Peru held this position, trailing behind Chile, one of the leading copper producers globally. The DRC, renowned for its abundant mineral resources, particularly copper, has seen a notable rise in its copper production. Initial estimates from Statista projected Chile to produce 5.3 million metric tons of copper in 2023, with Peru following closely at 2.6 million metric tons and the DRC at 2.5 million metric tons. However, recent reports…READ MORE HERE https://lnkd.in/di8Y-c82

A massive copper discovery in Zambia could revive the country's mining sector but has also sparked a new battleground between the US and China for access to critical minerals. As Western firms invest billions, the US backs a $500m Atlantic rail corridor, while China plans to revive a $1bn Indian Ocean railway. Meanwhile, Zambia's president questions exporting raw materials, calling for local EV battery production hubs. Read more @theafricareport https://lnkd.in/ecUrgazk

ZAMBIA’S DIRECT COPPER TRADING STRATEGY TO RESHAPE ECONOMY In a strategic move set to transform Zambia’s copper industry, the nation plans to directly purchase and sell a portion of its copper production, challenging industry giants like Mercuria Energy and Glencore. Jito Kayumba, senior economic adviser to President Hakainde Hichilema, emphasized the aim of ensuring fairness and commercial viability for mining companies in this new approach. Zambia aligns itself with neighbouring countries such as Botswana and the Democratic Republic of Congo, seeking to maximize economic benefits from mineral resources by gaining direct access to commodities for sale. Despite holding…READ MORE HERE https://lnkd.in/dc66ZbK5

GHANA UNVEILS FIRST GOLD REFINERY TO CURB SMUGGLING AND ADD VALUE The Royal Ghana Gold Refinery, which will process 400 kilograms of gold daily, primarily sources raw materials from artisanal and small-scale mines. These mines contribute about one-third of Ghana’s annual gold output of roughly 4 million ounces, according to Bloomberg. Bank of Ghana Governor Ernest Addison stated that the refinery will play a crucial role in curbing gold smuggling, a persistent issue in the country, by providing a ready market for artisanal and small-scale miners. “This refinery can mitigate the incentive for smuggling and help promote transparency and accountability in…READ MORE HERE https://lnkd.in/dWY6gD85

#CDH's Doing Business in South Africa (DBSA) annual publication highlights important aspects relating to the legal requirements affecting the mining and minerals industry. The DBSA publication focuses on various aspects such as the rights of communities, state and contractual royalties, BEE under the mining charter, and beneficiation. The chapter on Beneficiation highlights that in June 2011, the government adopted a beneficiation strategy for the minerals industry. The beneficiation strategy provides a framework that seeks to translate the country's comparative advantage inherited from mineral resources endowment to a national competitive advantage. The strategy is aligned with a national industrialisation programme, which seeks to enhance the quantity and quality of exports and promote the creation of decent employment and diversification of the economy. It is anchored on a range of legislation and policies such as the Minerals and Mining Policy for South Africa (1998). It will also advance the objectives of the MPRDA, the 2010 Charter and the 2018 Charter, the Precious Metals Act 37 of 2005, the Diamonds Amendment Act 29 of 2005, the energy growth plan as well as compliance with environmental protocols. Click here https://bit.ly/47NUPJm to read more about the Beneficiation strategy in our DBSA publication. #miningandminerals #miningindaba

First Quantum Minerals has confirmed that is actively engaging with prospective partners for its Zambian copper and nickel assets, without providing details on the negotiations. CEO Tristan Pascall said in a conference call to discuss third quarter results, that the company was open to partnerships, particularly in #Zambia, as long as they serve the interests of the business, the country's government and all stakeholders. While the names of the firms involved are yet to be disclosed, media reports last week suggested that Saudi Arabia's Manara Minerals was the one close to a deal to acquire a minority stake in the Canadian miner assets. The potential deal with #Manara, estimated to be worth between $1.5 billion and $2 billion, has garnered attention due to the increasing demand for copper and #nickel, considered essential to the #energy transition. The assets could have also attracted interest from Chinese companies such as Zijin Mining Group Co. and Jiangxi Copper Co., which is First Quantum's second-biggest shareholder, according to market rumours. For First Quantum, a stake sale in its Kansanshi and Sentinel #copper mines would provide much-needed relief from its mounting #debt, which escalated after the Panama government ordered the shutdown of its flagship Cobre Panama mine. The Canadian company is awaiting a decision on the mine's future and seeking permission from Panama's new government to export 121,000 tonnes of copper concentrate stockpiled at the shuttered mine. This approval is crucial for the company, which is spending between $11 million and $13 million per month to maintain the mine, Pascall said. The executive cautioned that while President Mulino said his government intends to address the issue in early 2025, without significant progress in the coming months, cost-cutting measures, including workforce reductions, may become necessary. https://lnkd.in/gfUwKvfi Zambia🇿🇲 is an #AfCFTA member country #Metal #Mineral #Mining #Markets #GDP #Growth #Trade #Economy #CleanEnergy #EnergySecurity #GlobalTrade #EV #WorldEconomy #EnergyTransition #RenewableEnergy #Transportation

The Government of the Democratic Republic of Congo is in the process of acquiring the United Arab Emirates' 55% stake in Primera Gold, a joint venture resulting from a partnership aimed at curbing gold smuggling in the DRC. By acquiring 100% of Primera Gold's shares, the Congolese government aims to refocus the agreement on the country's interests, thereby strengthening its control of the artisanal gold sector to the benefit of local operators and the nation. In 2023, the Democratic Republic of Congo saw a spectacular increase in unrefined gold exports, reaching 182,754 oz compared with 1,490 oz in 2022 thanks to Primera Gold DRC. With the ambition of surpassing industrial gold exports, which stood at 1,034,938 oz in 2023, Primera Gold DRC forecasts revenues of $1.51 billion from 846,575 oz of gold in 2024 and $2.26 billion from 1,270,000 oz of gold in 2025, underlining the growing importance of artisanal gold in the DRC's economy. For more insights on the DRC mining space, have a look at the latest release of our newsletter: https://lnkd.in/e2Py6XFs