Constance - Copperbelt Katanga Mining

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DRC Files Criminal Complaints Against Apple Over Conflict Minerals

December 17, 2024December 17, 2024 Constance

The Democratic Republic of Congo (DRC) has filed criminal complaints against Apple subsidiaries in France and Belgium, accusing the tech giant of using conflict minerals in its supply chain. Lawyers representing the Congolese government revealed the allegations to Reuters. The DRC, a significant source of tin, tantalum, and tungsten—known as 3T minerals—used in electronic devices, has long suffered from artisanal mines controlled by armed groups. These groups have been linked to atrocities, including massacres, mass rapes, and looting, as reported by UN experts and human rights organizations. Apple, which does… Read More Here

DRC and Indonesia to Sign Mining and Environmental Cooperation Agreement

December 15, 2024December 15, 2024 Constance

The governments of the Democratic Republic of Congo (DRC) and Indonesia are set to sign a cooperation agreement in the mining and environmental sectors in the coming days. This was confirmed following a videoconference on Saturday, December 14, 2024, between DRC President Félix Tshisekedi and his newly inaugurated Indonesian counterpart, Prabowo Subianto. During the exchange, President Subianto extended an official invitation to President Tshisekedi for a state visit to Indonesia in the near future, as announced on the DRC presidency’s X account. Indonesia, a recognized leader in the mining sector… Read More Here

Mining in DRC Oil & Gas

Molendo Sakombi Presents Draft Laws to Boost Cross-Border Oil Management with Angola and Uganda

December 15, 2024December 15, 2024 Constance

Last Thursday, the Minister for Hydrocarbons of the Democratic Republic of Congo (DRC), Molendo Sakombi, presented two draft laws to the National Assembly aimed at improving the management and exploitation of oil resources in cross-border areas shared with Angola and Uganda. The first draft law, signed in July 2023, addresses governance and management agreements for the common oil zone. The second draft law involves an amendment signed on October 3, 2024, between the DRC and Angola. Additionally, the second law references agreements signed with Uganda on June 23, 1990, and… Read More Here

International Mining Equipment

Fortescue Metals Secures $10 Million for Development of Fast Chargers for Heavy Mining Equipment

December 15, 2024December 15, 2024 Constance

Australian technology, energy, and metals group Fortescue Metals has received A$10 million in funding from the Australian Renewable Energy Agency (ARENA) to advance the development of a 6 MW fast charger. This funding will support Fortescue’s efforts to deploy fast-charging technology capable of powering battery-electric heavy mining equipment. The project will involve designing, constructing, and validating several test-unit chargers, with the aim of launching the first production 6 MW charger by the end of 2025. Developed by Fortescue Zero, the company’s dedicated renewable-energy division, the 6 MW fast charger will… Read More Here

Mining in Zambia Electricity

Zesco Settles $82 Million Loan Prepayment to China Exim Bank for Kariba North Bank Extension

December 15, 2024December 15, 2024 Constance

The Zambian government has clarified that the $82 million paid by Zesco to China Exim Bank is part of a loan obtained to help develop the $320 million, 360-megawatt Kariba North Bank Extension hydropower station. According to the Ministry of Finance, the financing agreement, secured in November 2009, established an account to manage funds for servicing the loan. Secretary to the Treasury, Felix Nkulukusa, explained that following approval from the Zesco Board in December 2022, the company transferred the accumulated $82 million as a principal prepayment to China Exim Bank.… Read More Here

Mining in Zambia Battery Metals

Zambia’s EV Battery Plant Nears Market Rollout Amid Manufacturing Sector Growth

December 15, 2024December 15, 2024 Constance

Commerce, Trade, and Industry Minister Chipoka Mulenga has announced that the Electric Vehicle (EV) battery plant in Chibombo, operated by the Zambia Jiangxi Multi-Facility Economic Zone, is conducting battery trials. The batteries are expected to enter the market by January 2025. Speaking at the 38th Annual General Meeting of the Zambia Association of Manufacturers (ZAM) in Lusaka, Mulenga emphasized the pivotal role of the manufacturing sector in achieving Zambia’s Vision 2030 to become a prosperous middle-income nation. During the event, a memorandum of understanding was signed between the Ministry of… Read More Here

Mining in Zambia Copper Economy

KCM to Invest $700 Million in Boosting Copper Production

December 15, 2024December 15, 2024 Constance

Konkola Copper Mines (KCM) has announced a $700 million investment over the next five years to unlock the full potential of its operations in Chililabombwe, Zambia. KCM Chief Operating Officer Malcolm Mewett revealed that this investment constitutes a significant portion of the $1 billion pledged by Vedanta Resources Limited for KCM’s growth. He emphasized that the funds will primarily focus on underground developments at the Konkola Mine, enabling the extraction of vast copper reserves and significantly increasing production. “This investment will help the mine achieve its target of producing 300,000… Read More Here

Mining in Zambia Mining technology

Zambia Hosts Timbuktoo Mine Technology Hub to Transform Africa’s Mining Industry

December 15, 2024December 15, 2024 Constance

Africa’s mining sector is poised for significant transformation with the launch of the Timbuktoo Mine Technology Hub, supported by the United Nations Development Programme (UNDP). The hub, inaugurated at the National Institute for Scientific and Industrial Research (NISIR) in Lusaka, Zambia, aims to drive technological innovation, foster creativity, and support startups across the continent. Technology and Science Minister Felix Chipota Mutati, speaking on behalf of President Hakainde Hichilema, praised the UNDP’s decision to establish this Pan-African innovation hub in Zambia. Mutati emphasized its alignment with Zambia’s goal of producing three… Read More Here

Mining in DRC Oil & Gas Petroleum

EquityBCDC Leads $282 Million Syndication to Support DRC’s Oil Sector

December 15, 2024December 15, 2024 Constance

EquityBCDC has announced the second drawdown of $282 million from its landmark syndication with FirstBank DRC SA, Ecobank RDC, and Standard Bank. This initiative, in collaboration with the Congolese government, aims to finance the country’s oil debt and ensure stability in the distribution of petroleum products nationwide. Of the total drawdown, EquityBCDC contributed $156 million, building on the success of the initial $123.5 million drawdown. The effective management of the first tranche has bolstered confidence in this second phase, which is designed to support oil companies and mitigate any potential… Read More Here

Mining in DRC Oil & Gas Petroleum

DRC Orders Audits of Perenco’s Oil Operations and Environmental Impact

December 15, 2024December 15, 2024 Constance

The Democratic Republic of Congo (DRC) has initiated two comprehensive audits of Perenco, the sole producer of oil in the country, based in the Kongo Central province. The audits aim to examine the company’s production activities and environmental practices. The Ministry of Hydrocarbons has tasked Alex Stewart International (ASI), a Liverpool-based auditing firm known for its rigorous reviews, with assessing Perenco’s technical and operational activities. ASI will focus on clarifying the management of Perenco’s mature onshore and offshore oil fields. In parallel, Environmental Resources Management (ERM), a specialist consultancy, has… Read More Here