Govt Enforces ‘Melt and Pour’ Rule for All Steel in Public Projects Nippon Steel expected to finalize U.S. Steel acquisition at $55 per share NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
Anglo-American is a mining company. Its CEO (chief executive officer), Duncan Wanblad, said they are starting to explore copper and cobalt in Zambia. Specifically, they are looking at the North-Western province of Zambia.
Wanblad said at a mining conference that Zambia's mining industry seems to be recovering and getting more active again. He said this is good for both Zambia and African mining overall.
Wanblad is pleased Anglo American is beginning early exploration in North-Western Zambia. The goal is to find potential copper and cobalt mining opportunities there.
However, Wanblad also said much more progress is needed overall to convince companies to invest in Africa. He explained mining companies have options all over the world. Capital tends to go where mining conditions are most favourable and competitive.
Anglo-American itself aims to cut $2 bn in spending by 2026. This is because demand has fallen for most metals they mine. Also one of their fertilizer projects in Britain lost value.
Other major mining companies like Rio Tinto, Teck Resources and Glencore also reported lower profits recently. The slowing global economy has hurt commodity prices and returns.
Anglo-American starts copper/cobalt exploration in Zambia but says Africa needs more mining progress to attract investment. The mining industry globally faces falling metal demand and profits now.
Also Read : Kumba iron ore reports strong 2023 Financials Chinese firms plan to invest up to $7 billion in Congo mining infrastructure
In a recent development, the Chhattisgarh government has decided to reintroduce electronic permits (...
Raw Material 12-Feb-2024
The Union Minister for Power and New and Renewable Energy, Shri R. K. Singh, recently led a meeting...
Press Releases 25-Jan-2024
The government on Thursday approved a rooftop solar scheme, PM-Surya Ghar: Mufti Bijli Yojna, with a...
Announcement 29-Feb-2024
In order to meet growing domestic demand, India's largest refiner, Indian Oil Corp., declared in a s...
Business 01-Apr-2024
Import Curbs Impact Production & Expansion – ArcelorMittal Nippon Steel India (AM/NS)...
Business 06-Mar-2025
Finance Minister Nirmala Sitharaman on Thursday said the government and the Reserve Bank are activel...
Announcement 25-Jan-2024