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DRC Enhances Geological Exploration Capabilities with Remote Sensing Training 1 Mining in DRC 

DRC Enhances Geological Exploration Capabilities with Remote Sensing Training

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In Kinshasa, on May 2, 2024, the Secretary General of Mines, Jacques Ramazani Lutuba, inaugurated a training program in remote sensing applied to geological exploration for Ministry of Mines personnel. The initiative aims to equip Congolese experts with practical knowledge to conduct efficient and autonomous geological research missions using geophysical methods. Lutuba emphasized the importance of the training in enhancing the expertise of Ministry of Mines staff, urging participants to diligently follow both theoretical and practical lessons. The ultimate goal is to empower them with skills in remote sensing techniques… Read More Here
TFM Highlights Role in Driving DRC's Industrial Growth at KBM 2024 2 Mining in DRC Events & Expos 

TFM Highlights Role in Driving DRC’s Industrial Growth at KBM 2024

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Tenke Fungurume Mining (TFM) played a significant role at the 2024 Katanga Business Meeting (KBM), themed “Investing in industrial centers for a new dynamic of growth in the DRC.” The event, held in Kolwezi from May 3 to 4, brought together various companies to discuss strategies for stimulating the Democratic Republic of Congo’s (DRC) economy. TFM actively participated in KBM 2024, with key experts contributing to panels focusing on diverse topics such as the emergence of a mining industrial cluster, professional training, job creation, and special economic zones. Hugo Sinza,… Read More Here
DRC: the price of copper exceeds the mark of 10,000 USD per tonne 3 Mining in DRC Copper Economy 

DRC: the price of copper exceeds the mark of 10,000 USD per tonne

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The price of copper surged by 2.19% weekly, reaching USD 10,024.50 per tonne, marking its highest level in two years. Analysts at the Central Bank of Congo (BCC) attribute this increase to rising Chinese imports. Year-to-date, copper prices have risen by 17.51% compared to December 31, 2023, and over the past twelve months, they have increased by 16.70%. This uptrend presents an opportune moment for the Government of the Democratic Republic of Congo to capture more revenue from mining companies operating in the country, especially with the renegotiated Chinese contract… Read More Here
DRC Diamond Exports Experience Historic Decline Over a Decade 4 Mining in DRC Diamond Economy 

DRC Diamond Exports Experience Historic Decline Over a Decade

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Over the span of a decade, from 2013 to 2023, the Democratic Republic of Congo (DRC) has witnessed a significant downturn in diamond exports, as revealed by statistical data from the Ministry of Mines via the technical cell for coordination and mining planning (CTCPM). In 2023, the DRC’s diamond production reached 8,305,796.60 carats, nearly half of the 2017 production peak of 17,924,982.26 carats, marking the lowest level recorded since 2019. Compared to 2022, diamond production in 2017 experienced a decline of over 28%. Over the past five years, it has… Read More Here
CAMI Advocates for Mining Sector Development at Katanga Business Meeting 5 Mining in DRC 

CAMI Advocates for Mining Sector Development at Katanga Business Meeting

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The Mining Cadastre (CAMI) actively participated in the 5th edition of the Katanga Business Meeting (KBM) in Kolwezi, Lualaba province. Popol Mabolia Yenga, CAMI’s Director General, joined a high-level panel to discuss mining potential development. During the forum, CAMI presented solutions to enhance the mining sector in the DRC. Mabolia emphasized the importance of cleaning up the cadastral file to promote geological research and reclaim industrial sovereignty. “We came here to represent CAMI and discuss solutions to improve the mining sector amidst the global shift towards green economies,” said Mabolia.… Read More Here
DRC President Tshisekedi Seals IMF Agreement on Economic Program 6 Mining in DRC Governance 

DRC President Tshisekedi Seals IMF Agreement on Economic Program

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President Félix Tshisekedi of the Democratic Republic of Congo (DRC) met with an International Monetary Fund (IMF) delegation led by Calixte Ahokpossi on Wednesday, May 8, at the African Union City. This meeting marked the closure of the sixth review of the DRC’s economic and financial program. Ahokpossi announced that the DRC authorities and the IMF team had reached a staff-level agreement for concluding the sixth review under the Extended Credit Facility (ECF) arrangement, pending validation by IMF management. He expressed satisfaction with the progress made by the government, indicating… Read More Here
ZESCO Imports Electricity Amid Drought-Induced Power Shortages 7 Mining in Zambia Electricity 

ZESCO Imports Electricity Amid Drought-Induced Power Shortages

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ZESCO has announced the commencement of electricity imports to mitigate the impact of reduced capacity caused by an ongoing drought. The imported electricity will contribute 20% of the total power supply for a minimum of 12 months, according to a statement released by the power utility. Matongo Maumbi, ZESCO’s spokesperson, acknowledged potential challenges associated with the imported power. He stated that while efforts will be made to maintain existing load-shedding schedules, unforeseen disruptions may occur. However, ZESCO is committed to addressing any disruptions promptly to minimize inconvenience to customers. Maumbi… Read More Here
Glencore to Sell Stake in Volcan Compañia Minera to Integra Capital Subsidiary 8 International News in Brief 

Glencore to Sell Stake in Volcan Compañia Minera to Integra Capital Subsidiary

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Swiss-based Glencore has finalized an agreement to divest its stake in Volcan Compañia Minera to a subsidiary of Integra Capital. Transition Metals will acquire Glencore’s stake in Volcan for $20 million. Volcan operates zinc, lead, and silver mines in Peru. As part of the agreement, Glencore has committed to providing Transition Metals with a secured facility of up to $40 million to fulfill certain mandatory tender offer obligations under Peruvian laws and regulations. The transaction does not require regulatory approvals and is anticipated to be completed this week. Read More Here
Sir Samuel Jonah Appointed as Director and Chairperson of Avanti Gold 9 Gold Mining Personality Mining Projects 

Sir Samuel Jonah Appointed as Director and Chairperson of Avanti Gold

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Canada-listed Avanti Gold has recently appointed Sir Samuel Jonah as director and chairperson of the company, coinciding with its exploration endeavors in a newly acquired area of potential in Botswana. With a distinguished career spanning decades in the mining sector across Africa, Jonah brings invaluable experience to Avanti Gold. His notable roles include serving as the former president of gold miner AngloGold Ashanti and holding positions on the boards of esteemed companies such as Moto Gold Mines, Vodafone Group, Standard Bank Group, Roscan Gold, and Bank of America Corporation’s Global… Read More Here
Barrick Gold CEO Advocates Exploration Over Mergers for Copper Supply 10 International Copper Gold Mergers & Acquisitions 

Barrick Gold CEO Advocates Exploration Over Mergers for Copper Supply

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Mark Bristow, CEO of Barrick Gold (NYSE: GOLD), expressed his belief that mergers and acquisitions (M&A) would not effectively expand the copper supply needed for the energy transition. While mining giant BHP (ASX: BHP) pursues a $39 billion deal for Anglo American (LON: AAL), Bristow emphasized to the Financial Times the importance of companies prioritizing investments in exploring and developing new copper deposits. He argued that BHP’s pursuit of Anglo underscores the necessity for industry investment in its future. Bristow cautioned against the misconception that consolidation automatically leads to increased… Read More Here

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