Global Renewable Metal Industry Chain Summit 2024’s Post

The Democratic Republic of Congo's state miner has started selling its share of #copper from joint-venture projects for the first time as the country seeks greater control over a #metal key to the #energy transition. #Gecamines holds minority stakes in large miners run by firms such as China's CMOC Group and Glencore Plc. Until now, the joint ventures themselves have sold all the production. But the state company is taking a more active role in marketing its portion -totaling hundreds of thousands of tons a year- according to people familiar with the matter. Gecamines is offering copper from CMOC's giant Tenke Fungurume mine, in which it holds a 20% interest, the people said, asking not to be identified discussing private negotiations. The state miner is assessing bids -including from Glencore, Trafigura Group and Mercuria Energy Group -for 90,000 tons from the project, two of the people said. The three trading houses declined to comment, while the Tenke JV and Gecamines didn't respond. Gecamines' move creates opportunities for traders to bid on sizable new contracts at a time of heated competition for copper #deals. #Congo has recently become the world's No. 2 producer and has seen #exports almost triple since 2016. Yet many expect global demand -led by growth in electric vehicles, grid infrastructure and data centres- to outstrip #investment in new supplies. Gecamines also held a smaller tender earlier this year, with CMOC metals trader IXM buying copper from the Kambove mine, according to the people. Kambove is a joint venture between the Congolese state and China Nonferrous Metal Mining Group. IXM didn't respond to questions about the Kambove tender. Gecamines plans to run similar processes for its share of copper from Glencore's Kamoto operation and the Chinese-owned Sicomines project, one of the people said. Together, those two assets produced more than 400,000 tons of the #metal last year. By organizing the tenders, Gecamines hopes to gain more insight into whether its partners -some of which are both miners and traders- are selling their larger portions at the best possible price, two of the people said. Benchmark copper prices surged to a record above $11,000 a ton in May, before retreating on a softening market in top consumer #China. The state company hasn't yet sold any #cobalt, a copper byproduct that's used in #EV batteries, according to the people. Congo accounted for about three-quarters of global output last year, but prices have tumbled amid a glut of supply. https://lnkd.in/dPMvAtYv DR of Congo🇨🇩 is an #AfCFTA member country #TradeInAfrica #Minerals #Mining #EVs #Metals #Markets #GDP #Growth #Trade #Economy #Batteries #EnergyTransition #GlobalTrade #WorldEconomy

The Democratic Republic of Congo's state miner has started selling its share of #copper from joint-venture projects for the first time as the country seeks greater control over a #metal key to the #energy transition. #Gecamines holds minority stakes in large miners run by firms such as China's CMOC Group and Glencore Plc. Until now, the joint ventures themselves have sold all the production. But the state company is taking a more active role in marketing its portion -totaling hundreds of thousands of tons a year- according to people familiar with the matter. Gecamines is offering copper from CMOC's giant Tenke Fungurume mine, in which it holds a 20% interest, the people said, asking not to be identified discussing private negotiations. The state miner is assessing bids -including from Glencore, Trafigura Group and Mercuria Energy Group -for 90,000 tons from the project, two of the people said. The three trading houses declined to comment, while the Tenke JV and Gecamines didn't respond. Gecamines' move creates opportunities for traders to bid on sizable new contracts at a time of heated competition for copper #deals. #Congo has recently become the world's No. 2 producer and has seen #exports almost triple since 2016. Yet many expect global demand -led by growth in electric vehicles, grid infrastructure and data centres- to outstrip #investment in new supplies. Gecamines also held a smaller tender earlier this year, with CMOC metals trader IXM buying copper from the Kambove mine, according to the people. Kambove is a joint venture between the Congolese state and China Nonferrous Metal Mining Group. IXM didn't respond to questions about the Kambove tender. Gecamines plans to run similar processes for its share of copper from Glencore's Kamoto operation and the Chinese-owned Sicomines project, one of the people said. Together, those two assets produced more than 400,000 tons of the #metal last year. By organizing the tenders, Gecamines hopes to gain more insight into whether its partners -some of which are both miners and traders- are selling their larger portions at the best possible price, two of the people said. Benchmark copper prices surged to a record above $11,000 a ton in May, before retreating on a softening market in top consumer #China. The state company hasn't yet sold any #cobalt, a copper byproduct that's used in #EV batteries, according to the people. Congo accounted for about three-quarters of global output last year, but prices have tumbled amid a glut of supply. https://lnkd.in/dPMvAtYv DR of Congo🇨🇩 is an #AfCFTA member country #TradeInAfrica #Minerals #Mining #EVs #Metals #Markets #GDP #Growth #Trade #Economy #Batteries #EnergyTransition #GlobalTrade #WorldEconomy #aimc #eltraveltours #qabulaholdings

The Democratic Republic of Congo’s state miner has started selling its share of copper from joint-venture projects for the first time as the country seeks greater control over a metal key to the energy transition. Gecamines holds minority stakes in large mines run by firms such as China’s CMOC Group and Glencore Plc. Until now, the joint ventures themselves have sold all the production. But the state company is taking a more active role in marketing its portion — totaling hundreds of thousands of tons a year – according to people familiar with the matter. Gecamines’ move creates opportunities for traders to bid on sizable new contracts at a time of heated competition for copper deals. Congo has recently become the world’s No. 2 producer and has seen exports almost triple since 2016. Yet many expect global demand — led by growth in electric vehicles, grid infrastructure and data centers — to outstrip investment in new supplies. The state company hasn’t yet sold any cobalt, a copper byproduct that’s used in EV batteries, according to the people. Congo accounted for about three-quarters of global output last year, but prices have tumbled amid a glut of supply. #drc #copper #criticalminerals #mining #energytransition #africa #metals #democraticrepubicofcongo #cobalt #stateminer #worldgameworkshop

SAUDI ARABIA NEARS $1BN DEAL FOR STAKE IN BARRICK’S REKO DIQ Saudi Arabia is said to be close to reaching a deal to acquire a minority stake in Pakistan’s $7 billion Reko Diq Mining Company (RDMC) copper and gold mine, controlled by Barrick Gold Corporation (TSX:ABX)(NYSE:GOLD). According to Bloomberg, the kingdom’s investment fund Manara Minerals intends to invest close to $1 billion in the project and it may announce a preliminary agreement on the transaction terms within weeks. SIGN UP FOR THE COPPER DIGEST The Saudi company might gradually raise its stake in Reko Diq, in which the government of Pakistan has a 25% interest…READ MORE HERE https://lnkd.in/dS65ARKQ

Rex Minerals Ltd (ASX:RXM), which holds Australia’s largest permitted and shovel-ready copper project, is being bought out by Indonesia-based MACH Metals Australia for AUD 393 million (USD 265 million). Rex shares closed 56% higher at AUD 0.43 apiece in Sydney Monday on the news. MACH, a unit of the Salim Group and one of Indonesia’s largest conglomerates, already owns a 15.8% stake in Rex, or 121.5 million shares. Read more >>> https://lnkd.in/gE7zpV7n Join 4000+ Mining professionals as individual members, you will receive a member rate to attend networking events, Industry event promo and weekly updates on mining industry-related content via our newsletter! Apply to become a member >>> https://lnkd.in/gdndprB7 #djakartaminingclub #IndonesianGroup #HillsideCopperProject #Australia #miningindustry #businessnews #investment #acquisition #economicdevelopment #marketanalysis #industryinsights

💥 The story of this week and last so far is still undoubtedly the Anglo American takeover. Anglo American rejected the $39 billion all-stock proposal from the BHP Group a week ago, but Swiss-based Glencore is now reportedly considering a bid for the 107-year old mining giant 👇 🔹 Anglo American's assets are diverse, ranging from platinum, iron ore, steelmaking coal, diamonds to a fertiliser project, but the big piece will be its copper portfolio, such as the vast reserves in the Chilean Collahuasi mine (Anglo American and Glencore both own 44%) ⚒ 🔹 BHP had originally called for Anglo American to sell its shares in Anglo Platinum (Amplats Ltd) and Kumba Iron Ore in South Africa, much to the dismay of South Africa's political elite, itself fending off allegations of corruption, ongoing and widespread power outages, and a failing economy ahead of elections at the end of the month (NB BHP CEO Mike Henry was in South Africa this week to smooth over government relations..🤝 ) 🔹 Glencore may not have such hard terms... 👀 And meanwhile, Anglo American shares are on the up, and the pressure is on BHP to revise its offer (deadline 22 May). 🗣 As the demand for critical minerals (copper, lithium, nickel, manganese, cobalt, and rare earths etc) increases to meet net zero goals, with an increase in geopolitical 'great power' competition driving the legislative agenda, investment strategies and partnerships across the world, mining giants such as BHP are looking to consolidate their position in the new critical minerals economy. Expect a lot more of this to come..... 👀 #fourthindustrialrevolution #criticalminerals #geopolitics #bedfordanalysis

Anglo American Plc plans to exit diamond, platinum, and coal mining in one of the biggest shake-ups in the company’s 107-year history, as the miner seeks to fight off a takeover approach from its bigger rival BHP Group. Anglo said that it plans to demerge or sell its De Beers diamond business, separate its Anglo American Platinum Ltd. unit (based in South Africa) and sell its coking coal mines in Australia. It will also slow spending on a giant fertilizer mine in England. However, South African-based Kumba Iron Ore will continue to be part of the broader Anglo American Group. While Anglo has been working on a turnaround plan since the middle of last year, it’s been forced to accelerate the process after BHP proposed a takeover last month. #BusinessTakeover #BusinessTrends #MiningIndustry #BHPGroup #AngloAmerican #Thesocialtalks

"China's Jiayou Int’l Logistics to Buy 20% of Mongolian Coal Developer for USD88.1 Million" 🇨🇳 🇲🇳 (Yicai) Feb. 22 -- Jiayou International Logistics said it plans to invest USD88.1 million to acquire a 20 percent stake in a Mongolian coal developer to ensure the growth of its China-Mongolia cross-border logistics business. Jiayou signed a deal with Mongolian Mining Corporation yesterday to acquire the stake in the coking coal producer's subsidiary Khangad Exploration, the Beijing-based firm announced late on the same day. Jiayou also agreed to purchase 17.5 million tons of coal from MMC within 10 years, it added. The transaction will form a long-term strategic partnership between the two companies, ensuring a... #coal #supplychains #mining #mongolia #china TA RawMaterials: https://lnkd.in/d_Np2KpZ Article: https://lnkd.in/dxmPysWm

Trafigura and Kamoa-Kakula Commit to Lobito Atlantic Railway.   Trafigura and Kamoa-Kakula have officially become the first customers to sign long-term agreements with the Lobito Atlantic Railway, marking a significant milestone in sub-Saharan Africa’s trade and mining sector. This strategic partnership is set to enhance the export capacity of the African Copperbelt through Angola’s Atlantic coast, offering a sustainable and efficient logistics solution. The Lobito Atlantic Railway is expected to revolutionize the region’s export capabilities, with a projected annual capacity of one million tonnes per annum by the end of the decade. This initiative not only underscores the commitment of Trafigura and Kamoa-Kakula to sustainable mining practices but also paves the way for economic growth and development across the region. Read more: https://lnkd.in/ew8vbZxc   #LobitoAtlanticRailway #MiningLogistics #mining #Lobito #railway #Trafigura #KamoaKakula Kamoa Copper S.A.

🚀ICYMI - Exciting News in the Mining Industry! 🚀 In a strategic move to expand its footprint in the copper market, Sinomine Resource Exploration Co., Ltd. rebranded to Sinomine Resource Group has made yet another significant investment. Just two weeks after acquiring the Tsumeb copper smelter, Sinomine has now secured a majority stake in the Zambian copper mine, Junction Mining, for a staggering US$58.5 million. Through its subsidiary, African Minerals, Sinomine has finalized the acquisition from Momentum Ventures and Chifupu Resources, solidifying its position in the lucrative copper sector. Junction Mining's crown jewel is the Kitumba copper project, boasting a license set to extend until 2039. What makes this deal even more compelling is the substantial proven mineral resource of the Kitumba Mine, estimated at a whopping 27.9 million tons, as reported back in 2015. With this acquisition, Sinomine not only gains a controlling interest in Junction Mining but also secures access to a promising asset with vast potential for growth and profitability. This move underscores Sinomine's commitment to strategic expansion and diversification within the mining industry. As global demand for copper continues to soar, particularly in sectors such as renewable energy and electric vehicles, this acquisition positions Sinomine to capitalize on emerging opportunities and reinforce its position as a key player in the market. Stay tuned as we witness the unfolding of this exciting chapter in Sinomine's journey and the evolution of the copper mining landscape in Zambia! #MiningIndustry #StrategicInvestment #CopperMarket #SinomineResourceGroup #JunctionMining #KitumbaCopperProject #Zambia #BusinessNews https://lnkd.in/dgMwbmex