Copper hit $10 000 a ton for the first time in two years as speculation builds that the world’s mines will struggle to meet a coming wave of demand from green industries. The metal reclaimed its hold on five figures in London after a pick-up in global manufacturing activity, as well as flashes of tightness in mine supply, helped fuel gains in recent months. But the advance is also emboldening copper bulls like BlackRock and Trafigura Group, who say the metal will have to jump even higher to spur the creation of new mines.

Every Friday, SAfm’s radio anchor Sakina Kamwendo speaks to Martin Creamer, publishing editor of Engineering News & Mining Weekly. Reported here is this Friday’s At the Coalface transcript: Kamwendo: Martin, for the first time in 21 years, a copper concentrate has been exported from South Africa's copper rich Northern Cape.

There is a significant, virtually unparalleled opportunity and “appetite” for Africa’s minerals and metals. Consequently, Africa potentially stands to benefit considerably from this minerals windfall owing to its vast resources and reserves. Creamer Media’s ‘Africa Mining Projects in Progress 2024’ report covers almost 40 mining projects across Central, East, North, Southern and West Africa, all offering very compelling mining propositions given the demand for the minerals and metals required for the worldwide shift towards renewable energy, which is projected to increase threefold by 2040.

Financial services firm Standard Bank has committed to Acre Impact Capital’s Export Finance Fund I to support the financing of sustainable projects in Africa. Acre Impact Capital manages Export Finance Fund I, which seeks to invest in climate-aligned and sustainable infrastructure projects in renewable energy, health, food, water security, sustainable cities and green transportation, thereby providing access to essential services to predominantly underserved communities across the continent.

Adani Green Energy Limited plans to build the world’s biggest power plant regardless of the energy source.

Rio Tinto continues to believe that the project has the potential to be a world-class asset.

Lynas Rare Earths has reported that the project schedule remains on track.

An expected sharp fall in battery costs for energy storage in coming years will accelerate the shift to renewable energy from fossil fuels, the International Energy Agency (IEA) said on Thursday. While renewable energy by itself is already much cheaper than coal and gas-fired plants, weather can interrupt solar and wind power and must be paired with energy storage systems to provide reliable sources of energy.

Zimbabwe is undergoing change and aims to attract more companies to do business in the country, but risks and challenges remain for businesses aiming to capitalise on the opportunities in the country. These were some of the views raised by Zimbabwean and international representatives during an information session on 'Doing business in Zimbabwe' hosted by the Southern African-German Chamber of Commerce and Industry this week.

In response to Zambia's recent declaration of a national emergency owing to a severe drought affecting power generation, copper miner First Quantum Minerals is taking measures to ensure the continuity of its operations. Power utility Zesco has introduced daily eight-hour loadshedding for its retail customers and initiated consultations with mining companies to reduce power supply to the sector by 150 MW from May 1 to December 31. First Quantum’s operations are expected to have power curtailed by about 80 MW over this period.