CKM NEWSLETTER 24-07-2023

China’s CMOC Group agrees to pay a total of US$ 2billion to GECAMINES…

China’s CMOC Group has agreed to pay Congo state mining firm Gecamines $800 million to end a dispute over its Tenke Fungurume Mining (TFM) operation in the country, the Chinese company said on Tuesday July18th. CMOC said in a statement it will start paying the settlement fee this year and complete payment by 2028. The Chinese mining company also said TFM will pay cumulatively at least $1.2 billion… Read full details

• Zambia’s Muntanga Uranium Project Increases Resources to 36.5 Mlb
• Zimbabwe: Contango Secures 20,000 TPM Coal Offtake Agreement
• IMF Approves Zambia’s $189m Credit Facility
• Zambia’s Mines Minister Provides Update on Mopani Copper Mine
• Equity Holding Showcases Congo’s Mining Potential in Kenya-DRC Roadshow
• Barrick CEO Wants to Search for More Copper in Zambia and Congo
• Vedanta in Advanced Stage of Deal With Zambia Over Konkola Copper Mine

• Zambia’s Minister Of Mines Sheds Light on Sugilite Discovery in Luapula Province
• Anglo American Joins Efforts to Create Sustainable Mining Taxation Solutions 
• Egypt Agrees Framework for Mining Terms With Barrick Gold and Centamin

• Conflict in DRC’s Kinsafu as Army and Artisanal Diggers Dispute Mining Square Management
• Zambia’s Copper Production Seen Falling to 14-Year Low
• Zambia Electricity Supplier and Westland Power Sign Power Purchase Agreement
• DRC and UAE Sign Historic Mining Agreement for 3Ts Minerals in Kivu Region

Recent changes in the mining industry, particularly increased investment in exploration, are expected to propel Zambia’s copper industry…

Zambia, a landlocked nation in Southern Africa, is renowned for its significant copper production. Ranking 7th globally and 2nd in Africa after the Democratic Republic of Congo, Zambia’s mining sector has immense potential for growth. Recent changes in the mining industry, particularly increased investment in exploration, are expected to propel Zambia’s copper industry to higher global rankings… Read full details

Kibali’s results of exploration operations show sufficient reserves to ensure the replacement of those depleted by this year’s production…

Kibali, Africa’s largest gold mine, significantly increased production in the last quarter, in line with its growth plan, and is on track to meet its annual targets. Also, the results of exploration operations show sufficient reserves to ensure the replacement of those depleted by this year’s operations. At a media briefing on Wednesday, July 5, 2023 at the Memling Hotel in Kinshasa, Barrick Chairman… Read full details

The full operationalization of this corridor will allow the opening up of the mines both in Zambia and the DRC…

Minerals from the DRC and Zambia will now be exported via Angola’s Lobito rail corridor. Presidents Félix Tshisekedi (DRC), Hakainde Hichilema (Zambia) and João Lourenço (Angola) chaired the signing ceremony of an agreement for this purpose on Tuesday July 4th. “The full operationalization of this corridor will allow the opening up of the mines of Zambia and the DRC, as well as the access and the… Read full details

Zambia’s Muntanga Uranium Project Increases Resources to 36.5 Mlb

Zimbabwe: Contango Secures 20,000 TPM Coal Offtake Agreement

Zambia’s Mines Minister Provides Update on Mopani Copper Mine

IMF Approves Zambia’s $189m Credit Facility

Equity Holding Showcases Congo’s Mining Potential in Kenya-DRC Roadshow

“Mines must erect the building housing their head office in the provincial capital of their mineral exploitation…”

The President of the Republic, Félix Tshisekedi, is determined to see the mining companies respect their legal obligation to erect the building housing their head office in the capital of the province of exploitation. This is what emerges from his communication during the Council of Ministers on Friday July 14, 2023. In accordance with article 197 of the Mining Code in force, each  “holder of a… Read full details