Anglo American Plc said it is has received an unsolicited non-binding combination proposal from BHP Group. The company issued a statement after Bloomberg reported that BHP, the world’s biggest miner, was considering a potential takeover offer for Anglo. The proposal comprises an all-share offer for Anglo American by BHP and would be preceded by separate demergers by Anglo American of its entire shareholdings in Anglo American Platinum Ltd. and Kumba Iron Ore Ltd. to Anglo American shareholders, Anglo said. SOURCE:mining.com ..read more

Eurasian Resources Group (ERG) has refuted allegations of attempting to circumvent subcontracting laws in the Democratic Republic of Congo (DRC), aimed at promoting local ownership in the mining sector and fostering economic benefits. In response to Congo government’s accusations of presenting nine subcontracting companies as majority partners with fictitious shares to evade the requirement of Congolese shareholders owning 50% of subcontracting shares, ERG issued a statement denying any involvement in illicit activities. The Regulatory Authority for Subcontracting in the Private Sector reveale ..read more

A recent report by European consultancy DNV has projected that China’s coal consumption will decrease by approximately one-third by 2040, posing a challenge to global climate targets aiming to phase out coal use by the same year. While the International Energy Agency emphasizes the necessity of eliminating global coal power capacity by 2040 to curb temperature rises within the 1.5-degree Celsius threshold, DNV’s findings diverge, indicating a minor increase in China’s coal consumption over the next two years followed by a gradual decline. Despite a significant surge in renewable energy generat ..read more

ZCCM Investments Holdings Plc (ZCCM-IH) has issued a statement to address recent misinformation circulating on social media platforms concerning its royalty transactions with Kansanshi Mine. The company unequivocally refutes the claims made in the video/audio content, asserting that they are misleading, inaccurate, and lacking factual basis. First and foremost, ZCCM-IH emphasizes that it is not a shareholder in First Quantum Minerals (FQM) Group. Instead, the company holds an interest in Kansanshi Mine, where FQM is the majority shareholder. It is crucial to understand that the figures present ..read more

Canadian miner First Quantum Minerals said on Tuesday that it has cut its debt by $1.14 billion in the first quarter. The company in February had announced a series of capital restructuring measures that would strengthen its balance sheet and cut debt, a move that will help the Canadian miner deliver on its “operational objectives.” The company’s total debt as of March 31 stands at $5.99 billion, down from its previous debt of $7.38 billion. The copper miner reported a net loss attributable to shareholders of the company at $159 million for the quarter ended March. 31, as the company continues ..read more

Canadian miner First Quantum Minerals said on Wednesday the likelihood of taking out the 121,000 tonnes of copper from its disputed Cobre Panama mine can only happen after the Panama national election. First Quantum’s Cobre Panama is under preservation and safe maintenance after the current Panama government ordered the closure of the copper mine last year. Panama goes to polls in May this year. SOURCE:mining.com ..read more

Zambia’s state-owned electricity utility, Zesco, announced plans on Monday to import power in order to address an impending energy shortfall that threatens production in the nation, known as Africa’s second-largest copper producer. With 86% of its electricity sourced from hydropower stations, Zambia faces challenges due to a severe drought caused by El Nino, a weather phenomenon marked by abnormal warming of the waters in the eastern Pacific, resulting in global temperature fluctuations. Zesco anticipates a power generation deficit of 700 megawatts this year, prompting negotiations for additio ..read more

SIBANYE-Stillwater aimed to conclude a portion of an estimated $500m to $1bn in potential streaming or metals prepayment deals before it announced its half year results in August, said the group’s CEO Neal Froneman. “We don’t get any credit for our gold by-product from platinum group metals (PGMs) and it’s a good time to be negotiating because the gold price isn’t done yet,” said Froneman on the sidelines of the PGM Day conference in Johannesburg. “The beauty of selling by-product credits is that it’s not described as debt,” he said. Gold by-products were estimated by the company to be worth a ..read more

In a recent update, CEC Renewables has shared its second annual report, covering the period from January 1, 2023, to December 31, 2023. This report showcases a year of remarkable achievements and outlines the company’s strategies for future growth in Zambia’s renewable energy sector. Key highlights from the report include the completion of the RSP project with a capacity of 34 MW, positioning it as one of the largest solar power plants in the country. Additionally, CEC Renewables established a dedicated management team and registered a USD 200 million Green Bond with the SEC, demonstrating its ..read more

Copperbelt Energy Corporation PLC (CEC) has made significant changes to its Board of Directors, in line with Section 3.59 of the LuSE Listing Requirements. The company has announced the resignation of Mr. Derek Chime as a director, effective April 2, 2024. Simultaneously, the Board is pleased to announce the appointment of Mr. Auke Lont as a director, also effective April 2, 2024. Mr. Lont brings with him a wealth of experience and expertise in the energy sector, having served as the Chief Executive Officer of Statnett, Norway’s national power transmission company, for 12 years until 2021. Wit ..read more