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Glencore Reports Increased Emissions and Energy Use for 2023 1 International 

Glencore Reports Increased Emissions and Energy Use for 2023

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Global diversified miner Glencore reported an increase in emissions and energy use for 2023 but emphasized its ongoing commitment to sustainable operations and evolving standards. According to Glencore’s 2023 Sustainability Report, total energy use reached 202 PJ, up from 194 PJ in 2022. Renewable energy sources accounted for 5.4% of the total, down from 7.6% in the previous year. Scope 1, 2, and 3 emissions totaled 433 million tonnes of CO2-equivalent, compared to 397 million tonnes in 2022. This includes 324 million tonnes from the use of sold products and… Read More Here
Two Miners Killed, One Trapped in Poland Mine Collapse 2 International Mining safety 

Two Miners Killed, One Trapped in Poland Mine Collapse

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Two miners lost their lives and one remains trapped following an overnight tremor that caused a partial collapse at the Myslowice-Wesola mine in southern Poland, the mine’s owner reported on Tuesday last week. The tremor, which occurred 870 meters underground, affected 15 miners in the danger zone. Polska Grupa Górnicza, the owner of the mine, told state news agency PAP that 12 miners were rescued, with 10 of them hospitalized due to their injuries. “Unfortunately, two of the miners were pronounced dead by the doctor,” said Rajmund Horst, deputy chief… Read More Here
BHP needs to bid about $41 a share for Anglo -JPMorgan 3 International 

BHP needs to bid about $41 a share for Anglo -JPMorgan

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BHP Group (ASX: BHP) would need to boost its latest offer around 30% to reflect fair value for Anglo American (LON: AAL) and its key copper assets, JPMorgan analysts said in a note. They raised their price target for London-listed Anglo to 27.75 pounds a share after reexamining the value of its copper assets, and said the discount for the shares to the implied value of BHP’s offer was at its greatest level, implying the market sees a deal as unlikely. Why it’s importantAnglo has rejected two bid proposals from… Read More Here
Copper 360 Names Shirley Hayes as Executive Chairperson 4 Copper Mining Personality 

Copper 360 Names Shirley Hayes as Executive Chairperson

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Copper 360 has appointed Shirley Hayes as its new executive chairperson. Previously serving as nonexecutive chairperson, Hayes’ role has been elevated to meet the increased demands of the company’s operations. The copper producer stated that this change comes as the commissioning of two new plants at Copper 360’s mining operations requires significant attention from the executive team. Hayes has been tasked by the board to oversee the capital requirements for the Rietberg mine and to lead the move into production at the site. Read More Here
Zijin Mining Increases Copper Output Targets Amid Soaring Prices 5 International Copper 

Zijin Mining Increases Copper Output Targets Amid Soaring Prices

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China’s leading copper miner, Zijin Mining Group, has raised its output guidance as copper prices rally toward record highs due to expected supply deficits. In a recent filing to the Shanghai Stock Exchange, Zijin announced plans to boost mined copper production to 1.22 million tons by 2025, a 4% increase from its previous target. The company projects that by 2028, output will surge to between 1.5 and 1.6 million tons, marking a roughly 50% increase from 2023 levels. The Fujian-based company attributed the revisions to strong fundamentals and capacity expansion… Read More Here
China's April coal output falls to lowest level since Oct 2022 6 International Coal 

China’s April coal output falls to lowest level since Oct 2022

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China’s coal production in April fell to its lowest level since October 2022, statistics bureau data and Reuters records showed on Friday, as continuing mine safety inspections curbed output. Output was 371.67-million metric tons last month, down 2.9% from a year earlier, according to the National Bureau of Statistics. That was also down 7% from March. Lower output from China’s coking coal hub of Shanxi weighed on output after the local government ordered a series of safety checks during March-May following an uptick in deadly accidents, and told miners to… Read More Here
Mozambique Faces Major Challenges from Illegal Mining 7 International Artisanal mining 

Mozambique Faces Major Challenges from Illegal Mining

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Mozambique’s Minister of Mineral Resources and Energy has identified illegal mining as a significant challenge for the country’s mining sector, acknowledging that a considerable number of Mozambicans depend on it for their livelihoods. “One of the areas where we face major challenges is mining. In the informal sector, many Mozambicans engage in illegal mining to support themselves, often without adhering to environmental and safety regulations,” said Carlos Zacarias. He made these remarks during the opening of the Coordinating Council meeting of the Ministry of Mineral Resources and Energy in Mossuril,… Read More Here
Lucapa to sell majority stake in Lesotho diamond mine 8 International Diamond 

Lucapa to sell majority stake in Lesotho diamond mine

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Australia’s Lucapa Diamond (ASX: LOM) has put its 70% stake in the Mothae mine in Lesotho up for sale to focus on its core assets and is discussing options for the 30% held by the country’s government. The diamond miner’s board said it was “considering all options for the divestment” and finalizing a data room for interested parties. “On review, it is clear the company should streamline the portfolio to focus on our core assets in Africa and Australia,” chairman Stuart Brown said in the statement. “The company’s collaboration with… Read More Here
Aluminum Prices Expected to Drop 6% Amid Surplus and Weak Demand - Trafigura Analyst 9 Aluminium International 

Aluminum Prices Expected to Drop 6% Amid Surplus and Weak Demand – Trafigura Analyst

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Aluminum prices are projected to decline by at least 6% over the next six months as supply levels increase and high interest rates suppress manufacturing demand, according to an analyst from Trafigura Group, one of the largest traders of the metal. “We’re looking at a very grim demand picture right now,” stated metals analyst Henry Van at the CRU World Aluminum Conference in London on Wednesday. “It’s a fundamentally overdone rally.” Three-month aluminum futures on the London Metal Exchange have risen 8% this year, driven by broad gains across the… Read More Here
Zambia’s 2024 Economic Growth Prospects Downgraded - Analyst Kelvin Chisanga Reports 10 Mining in Zambia Economy 

Zambia’s 2024 Economic Growth Prospects Downgraded – Analyst Kelvin Chisanga Reports

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Zambia’s economic growth prospects for 2024 have been downgraded due to a confluence of factors, according to economic analyst Kelvin Chisanga.  These factors include a power supply deficit, rising inflation, an unstable fuel situation, climate-related threats to food and water security, and foreign exchange fluctuations. Mr. Chisanga points out that these challenges, coupled with other underlying issues, are prompting the International Monetary Fund (IMF) to revise its economic projections for Zambia.  He warns that some government policy goals may be impacted by these unforeseen circumstances. The current economic situation, Mr.… Read More Here

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