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Gas blocks in the DRC: Greenpeace worries about a “rushed process”

October 14, 2022October 14, 2022 admin

The environmental NGO Greenpeace Africa, which opposes the exploitation of hydrocarbons in the DR Congo, expressed concern on Thursday evening about the “rush” with which Kinshasa wants, according to it, to start the exploration of the gas from Lake Kivu, in the east of the country. The Congolese government proceeded Wednesday to the counting of the candidatures of a dozen companies and consortia which expressed their interest for three blocks of methane gas identified in this lake, on the border between the DRC and Rwanda. The Minister of Hydrocarbons, Didier… Read More Here

Mining in DRC Mining Companies

MMG to start arbitration against Congo’s Gecamines

October 13, 2022October 13, 2022 admin

MMG Limited said it plans to launch international arbitration against Congolese state mining company Gecamines after Democratic Republic of Congo armed forces occupied two concessions near its Kinsevere copper mine. Hong Kong-listed MMG said armed forces entered its Nambulwa mining lease on Sept. 16 claiming Gecamines had signed a research contract for it. MMG staff were able to return to site and continue work from Sept. 28 but the armed forces remained there, MMG said. The company also said that security forces removed MMG staff from its Sokoroshe II mining… Read More Here

Mining in DRC Oil & Gas

DRC: eight candidate companies for the acquisition and exploitation of three gas blocks in Lake Kivu

October 13, 2022October 13, 2022 admin

The Congolese Minister of Hydrocarbons, Didier Budimbu, chaired, on Wednesday October 12, 2022, in Kinshasa, the opening ceremony of the bids received within the framework of the Notice of call for tenders launched on July 28, 2022 by the President of the Republic, Félix Tshisekedi, for the acquisition and exploitation of three gas blocks from the Lac. It was at the Pullman hotel in Kinshasa in the presence of national deputies, senators, members of the cabinet and the technical secretariat of the ad-hoc Commission made up of delegates from the Ministry… Read More Here

Gold International

Gold price fluctuates as BOE warning leaves investor sentiment fragile

October 12, 2022October 12, 2022 admin

Gold fluctuated after comments by the Bank of England on removing emergency market support by the end of the week rattled traders, leaving investor sentiment fragile. BOE Governor Andrew Bailey’s warning to fund managers to wind up positions that they can’t maintain before market support is withdrawn at the end of the week drove up Treasury yields and the dollar on Tuesday, pressuring gold. The non-yielding metal gave up gains to end the day slightly lower. Bullion edged up Wednesday from a one-week low, while traders await critical US inflation… Read More Here

Mining in DRC Mining Companies

DRC: LICOCO demands full disclosure of those corrupted by Glencore

October 12, 2022October 12, 2022 admin

The Congolese Anti-Corruption League (LICOCO) is calling on the government of the Democratic Republic of Congo (DRC) to release the names of those corrupted by Glencore, a mining company. This, after Glencore admitted to American justice “to have bribed officials in Côte d’Ivoire, Equatorial Guinea, Nigeria, Cameroon, the Democratic Republic of Congo (DRC) and South Sudan”. In a press release published on October 10, 2022, LICOCO considers it necessary that light be shed after revelations of corruption made by Glencore. Several recommendations were made, particularly with regard to the Government and… Read More Here

Mining Companies International

Glencore faces flood of UK litigation following bribery charges

October 12, 2022October 12, 2022 admin

Glencore Plc faces a raft of class-action style lawsuits from investment and pension funds in the UK, months after the mining giant pleaded guilty to market manipulation and bribery. Mubadala Investment Company and International Petroleum Investment Company are among over a dozen funds who filed claims at a London court against Glencore and a group of its executives in recent weeks, according to court records. While there is no public record of what the claimants allege, people familiar said it was linked to the more than $1 billion fine Glencore… Read More Here

Mining in DRC Oil & Gas

DRC: call for tenders for 3 gas blocks, the counting of the bids set for this Wednesday, October 12, 2022

October 12, 2022October 12, 2022 admin

Initially scheduled at the address of the Technical Secretariat of the ad hoc Commission at 10:00 a.m., the public session for examining the bids of bidders for the call for tenders for three gas blocks in Lake Kivu will finally take place on the same day, i.e. on Wednesday, October 12, 2022 in the Salonga room of the Pullman hotel in Kinshasa, the capital of the Democratic Republic of Congo (DRC). This clarification was provided by the Congolese Minister of Hydrocarbons, Didier Budimbu, in a press release published on Tuesday,… Read More Here

Mining in DRC Oil & Gas

DRC’s oil company Cobil ready to deploy throughout the national territory

October 11, 2022October 11, 2022 admin

The oil company Cobil would be ready to deploy throughout the territory of the Democratic Republic of Congo (DRC). These assurances were given by the Deputy Managing Director of this oil company,Olivier Okunda, during the work of the Round Table on the supply of petroleum products in the Grand Equateur and Grand Kasaï spaces open, on Monday, October 10, 2022, in Kinshasa. , under the leadership of the Minister of Hydrocarbons, Didier Budimbu. “ It is possible that we can expand to all the provinces of the DRC. The Cobil company was… Read More Here

Oil & Gas Mining in DRC

Withdrawal of certain oil blocks from calls for tenders: “request of United States can only be taken into account following equivalent consideration” (Patrick Muyaya)

October 11, 2022October 11, 2022 admin

Communication and Media Minister Patrick Muyaya responded to Washington’s request calling on the Democratic Republic of Congo to renounce the auctioning of oil blocks located in sensitive areas. For the spokesman of the Congolese government, this request can only be taken into account following an equivalent counterpart because the country is committed to meeting the needs of the population. A task that requires colossal resources. He also specified that a Congolese-American working committee has been set up to rule on this subject. “We must not remain on this posture which requires Congo… Read More Here

Mining in DRC

Patrick Muyaya evokes discussions between the Congolese and American governments on sanctions against Dan Gertler

October 11, 2022October 11, 2022 admin

Patrick Muyaya, Minister of Communication and Media, announced during a weekly briefing held on Monday, October 10, that at this stage discussions are taking place between the Congolese and American governments on the Dan Gertler file. The objective would be to obtain the lifting of the American sanctions which weigh on Dan Gertler in order to benefit from the assets recovered in Congo, thanks to the agreement signed between the Congolese government and the Ventora group. The agreement signed between the Congolese government and the Ventora group of Dan Gertler… Read More Here