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The price of cobalt could rise to 49,257.00 USD per ton this week (Mercuriales) DRC 1 Mining in DRC Cobalt 

The price of cobalt could rise to 49,257.00 USD per ton this week (Mercuriales) DRC

arnbethnic
On the international market for mining products, cobalt should record a price increase this week, inform the experts of the National Commission of Mercurial of the Ministry of Foreign Trade. According to projections made by this specialized service, cobalt, which has struggled for several months, should trade at 49,257.00 USD per tonne this week against 46,949.00 USD per tonne last week. The price of cobalt is expected to register a price increase of around USD 2,308, or 4.92%. According to this document, the main mining products exported from the Democratic… Read More Here
FEC calls on DGDA to cancel all STDA-related missions in Haut-Katanga, Lualaba and Tanganyika in the DRC 2 Mining in DRC Governance 

FEC calls on DGDA to cancel all STDA-related missions in Haut-Katanga, Lualaba and Tanganyika in the DRC

arnbethnic
The question of the Excise Duties Traceability System (STDA) has been the bone of contention for some time between the Federation of Congo Enterprises (FEC) and the Customs and Excise Department (DGDA). It is in this context that Congolese employers call on the DGDA to cancel all missions relating to the identification, training and registration of industrialists and importers of excise products as well as the installation of STDA machines within production units in the Provinces of Haut-Katanga, Lualaba and Tanganyika. In a letter addressed to the Director General of… Read More Here
The DRC 2023 draft budget amounted to 14.6 billion USD 3 Mining in DRC Economy Governance 

The DRC 2023 draft budget amounted to 14.6 billion USD

arnbethnic
The Sama Lukonde Government is betting on tabling the 2023 Draft Budget on September 15, 2022 in parliament, in accordance with the instructions of the Head of State Félix Tshisekedi.   “At the latest adjustments, the central government budget for the 2023 financial year is presented in balance, in revenue and expenditure, at 29,511.1 billion FC (14.6 billion USD), i.e. an increase rate of 32.6% compared to the Law for the financial year 2022 amounting to 22,253.0 billion FC”, reveal the documents of the Minister of the Budget submitted to the… Read More Here
Nearly 2.8 billion USD would not have been paid to GECAMINES and the Congolese State by TFM and CMOC (DYFREN report) 4 Mining in DRC Environment Social Governance (ESG) 

Nearly 2.8 billion USD would not have been paid to GECAMINES and the Congolese State by TFM and CMOC (DYFREN report)

arnbethnic
The Dynamics of Women on Natural Resources (DYFREN) published, this Wednesday, August 31, 2022, in Lubumbashi, its report evaluating the fiscal and parafiscal obligations of Tenke Fungurume Mining SA, located in Lualaba, report published with the support of the Carter Center entitled: “No one is perfect”. It reveals that the mining company TFM owes Gécamines and the Congolese Government nearly 2.85 billion dollars between 2009 and 2016. A study which focused on eight (8) fiscal and parafiscal flows to which TFM is subject. These are, according to this dynamic, the annual… Read More Here
Mining in the DRC at the center of a training workshop for heads of provincial divisions of mines and geology 5 Mining in DRC Governance Mining Policy 

Mining in the DRC at the center of a training workshop for heads of provincial divisions of mines and geology

arnbethnic
The heads of the country’s provincial mining and geology divisions are in Kinshasa for a workshop from August 31 to September 2 on capacity building. This meeting, which focuses on mining in the country, has as its theme “Achieving the same level of perception and use of work tools in the mining sector”, both industrial and artisanal, in the light of the new Mining Code and its enforcement measures. “The Provincial Divisions representing the basic structure for the actions of the Ministry in the hinterland, it pleased the authority of the… Read More Here
Haut-Uélé and Ituri: several foreign companies carry out artisanal mining under the cover of political and military authorities 6 Artisanal mining Mining in DRC 

Haut-Uélé and Ituri: several foreign companies carry out artisanal mining under the cover of political and military authorities

arnbethnic
The Coalition of Civil Society Organizations of Ituri and Haut-Uélé presented the results of its analyzes on the issue of artisanal and small-scale mining in these two provinces. It was during a restitution workshop organized on Thursday, September 01, 2022, in Kinshasa.  This analysis has identified 3 persistent problems that are causing millions of US dollars to escape from the Congolese state, which are destroying the present and future generation. These include in particular: – The stagnation of the formalization process of the artisanal mining sector; – Mining by foreigners, most of whom… Read More Here
Kamoto Copper Company materializes its commitments for the benefit of the communities affected by its operations 7 Mining in DRC Environment Social Governance (ESG) 

Kamoto Copper Company materializes its commitments for the benefit of the communities affected by its operations

arnbethnic
The Kamoto Copper Company (KCC) signed its specifications with the communities affected by its operations. The ceremony took place this Wednesday, August 31, 2022 in Kolwezi, in the reception hall of the Kampi ya Boma hotel in the presence of representatives of these communities. The representative of the Provincial Minister of Mines, the Mayor of the city of Kolwezi, the Mayors and the sector chief of Luilu, also took part in this ceremony. In addition to the various taxes and royalties paid by this company, the endowment of the fund with 0.3%… Read More Here
Zambian Govt awards mines more tax exemptions 8 Mining in Zambia Copper Mining Policy 

Zambian Govt awards mines more tax exemptions

arnbethnic
Finance Minister Situmbeko Musokotwane has yet again given mining companies more tax exemptions by suspending import taxes on mining equipment and machinery. This is additional to the making of mineral royalty tax deductible which resulted in the country losing about $200 million in lost revenue. Mineral Royalty Tax (MRT) was introduced to bring certain loss making mining companies on the tax base as most mining corporations were declaring losses and the tax authorities have no capacity to find loopholes in their tax declarations, which made it difficult to tax the… Read More Here
Lucapa finds Angola mine’s sixth-largest white diamond 9 International Diamond 

Lucapa finds Angola mine’s sixth-largest white diamond

arnbethnic
Australia’s Lucapa Diamond (ASX: LOM) has recovered a 160-carat white Type IIa diamond at its prolific Lulo mine in Angola, the sixth-largest recovered at the operation to date. The diamond was found at the same alluvial mining block as the Lulo Rose, a 170-carat pink-coloured diamond believed to be the largest of its kind found in Angola in 300 years. Lucapa has a 40% stake in the Lulo mine, which hosts the world’s highest dollar-per-carat alluvial diamonds. The rest is held by Angola’s national diamond company (Endiama) and Rosas & Petalas, a private entity. The partners… Read More Here
Atlas Copco has acquired Danish manufacturer of on-site gas generation equipment 10 International Equipment & Technology Mining technology 

Atlas Copco has acquired Danish manufacturer of on-site gas generation equipment

arnbethnic
Atlas Copco has acquired Oxymat A/S, a Danish supplier of on-site oxygen and nitrogen solutions. Oxymat is a privately owned company headquartered in Helsinge, Denmark, with production facilities in Denmark and Slovakia. The company has 146 employees, and in 2021, they had revenues of approximately MDKK 301 (MSEK 411*). Oxymat specializes in on-site gas generation solutions for a wide range of industries including aquaculture, water treatment, medical, marine and mining. By converting bulk or cylinder supply of gas to on-site generation, the need of frequent truck transport can be avoided,… Read More Here

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