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DRC Advances Energy Sector with Inga II and Renewable Projects 1 Mining in DRC Hydro power plant 

DRC Advances Energy Sector with Inga II and Renewable Projects

Constance
The Democratic Republic of Congo (DRC) is taking significant steps to enhance its energy sector, with the G25 group of the Inga II Hydroelectric Power Plant set to produce an additional 1.2 million megawatt hours upon its rehabilitation. This development was highlighted by President Félix Tshisekedi during his December 11, 2024, State of the Nation address to Parliament. President Tshisekedi emphasized the centrality of energy to the country’s socio-economic transformation, stating, “Sustainable economic growth requires reliable, affordable, and sustainable access to energy. It drives raw material transformation, technological innovation, and… Read More Here
DRC Senate Approves Ratification of Lobito Corridor Agreement 2 Mining in DRC Angola Governance Mining in Zambia Transport and Logistics 

DRC Senate Approves Ratification of Lobito Corridor Agreement

Constance
The Senate of the Democratic Republic of Congo (DRC) ratified the agreement establishing the Lobito Corridor Transit Transport Facilitation Agency (AFTTCL) during a plenary session on December 2, 2024. The agreement, signed on January 27, 2023, in Lobito, Angola, involves a partnership between the DRC, Angola, and Zambia. The bill, first presented to the Senate on November 22, 2024, was referred to the “External Relations” Committee for detailed review. The committee, led by Senator Lutundula Apala Pen Apala, recommended ratification, emphasizing the corridor’s strategic importance to the DRC’s economy and… Read More Here
DRC Govt Takes Charge of Kamoa Mining Product Sales 3 Mining in DRC Cobalt Copper Economy 

DRC Govt Takes Charge of Kamoa Mining Product Sales

Constance
The Government of the Democratic Republic of Congo (DRC) has announced its direct involvement in the sale of mining products from Kamoa, a company in which the State holds a 20% stake. This move aims to better secure national economic interests within the crucial mining sector. Kamoa’s turnover is projected to reach $3 billion, and as part of this new strategy, the Government, through the Minister of the Portfolio, will oversee the pricing and sale of mining products. Minister Jean-Lucien Bussa made this announcement during the Estates General of the… Read More Here
Miguel Kashal Highlights DRC’s Value Chain Potential at Global Citizen Forum 4 Mining in DRC Events & Expos 

Miguel Kashal Highlights DRC’s Value Chain Potential at Global Citizen Forum

Constance
The Director General of the Regulatory Authority for Subcontracting in the Private Sector (ARSP), Miguel Kashal, led a high-level Congolese delegation at the Global Citizen Forum, held from December 4–5, 2024, in the United Arab Emirates. The fourth edition of the forum, themed “The Future of Wealth,” gathered prominent business leaders from across the globe. As a panelist, Kashal highlighted the Democratic Republic of Congo’s (DRC) investment potential and its commitment to fostering local content development. He emphasized the vision of President Félix Tshisekedi to empower the middle class and… Read More Here
Zambia’s Power Utility Seeks Solution to $80M Payment Error in China Debt Talks 5 Mining in Zambia Electricity 

Zambia’s Power Utility Seeks Solution to $80M Payment Error in China Debt Talks

Constance
Zambia is working to address an $80 million payment mistakenly transferred by its state power utility, ZESCO, to China while finalizing its long-standing debt restructuring deal with the nation, according to Treasury Secretary Felix Nkulukusa. The funds, accumulated in a securitized account from electricity sales tied to a power plant built and financed by Chinese companies, were “unfortunately” transferred, Nkulukusa explained in an interview on Sunday in Lusaka. This payment issue underscores the complexities of Zambia’s debt restructuring process, which began in 2020 when it became the first African nation… Read More Here
AfDB Approves $108 Million Loan to Boost Zambia’s Economic Reforms 6 Mining in Zambia Economy 

AfDB Approves $108 Million Loan to Boost Zambia’s Economic Reforms

Constance
The African Development Bank (AfDB) Group has approved a $108 million loan to Zambia to enhance economic governance and implement critical public sector reforms. This new funding increases the AfDB’s active portfolio in Zambia to $872.3 million, comprising 24 projects as of November 30, 2024. The loan will finance the Fiscal Sustainability and Economic Resilience Support Programme, a key initiative aimed at fostering a resilient and diversified Zambian economy. The AfDB Group Board of Directors announced the approval in a statement issued in Lusaka. Raubil Durowoju, the AfDB’s Country Manager… Read More Here
Morocco, DRC, and Zambia Collaborate to Revolutionize Africa’s Electric Mobility Industry 7 Mining in Zambia Electricity Mining in DRC 

Morocco, DRC, and Zambia Collaborate to Revolutionize Africa’s Electric Mobility Industry

Constance
Rabat – Morocco, the Democratic Republic of Congo (DRC), and Zambia have launched a groundbreaking initiative to establish a regional value chain for electric mobility in Lusaka, Zambia, aimed at transforming Africa’s automotive sector. Led by the United Nations Economic Commission for Africa (ECA) Office for North Africa, the initiative entered its second phase on December 9, with representatives from all three nations in attendance. This project aligns with Africa’s goals to promote sustainable development, reduce fossil fuel dependency, and tackle challenges such as outdated vehicle fleets and inadequate public… Read More Here
B2Gold Faces Disruption at Fekola Mine Due to Workers' Strike in Mali 8 International Gold 

B2Gold Faces Disruption at Fekola Mine Due to Workers’ Strike in Mali

Constance
A workers’ strike at B2Gold’s flagship Fekola mine in southwest Mali has significantly reduced mining operations to just 25% of its full capacity, according to two employees at the mine. The strike, which began on November 29, involves between 1,875 and 2,000 workers protesting the dismissal of some of their colleagues. The strike, lasting seven days, was triggered after several employees were let go. While the Vancouver-based miner acknowledged the reduced capacity, it disputed the 25% figure, stating operations at Fekola were continuing at a “well in excess” of the… Read More Here
Zimbabwe to Seek 26% Stake in New Mining Projects 9 International Lithium New Mining Projects 

Zimbabwe to Seek 26% Stake in New Mining Projects

Constance
Zimbabwe plans to acquire a 26% free-carry stake in all new mining projects and will also negotiate with existing operators to secure similar shares in established projects. Pfungwa Kunaka, Zimbabwe’s Secretary for Mines, told Bloomberg that the government aims for a 26% ownership in most major mining ventures. He added that these negotiations would involve discussions with investors already operating in the country. Kunaka did not disclose how the government would finance these acquisitions. However, the move aligns with the rising trend of resource nationalism across Africa, where nations are… Read More Here
Arbitration Proceedings Over Cobre Panama Mine Escalate as Investors Await Panama’s Decision 10 International Copper 

Arbitration Proceedings Over Cobre Panama Mine Escalate as Investors Await Panama’s Decision

Constance
Arbitration proceedings between Canadian miner Franco-Nevada and the government of Panama over the Cobre Panama copper mine entered a new phase this week with the formation of a tribunal to hear the case, according to legal filings. Investors are awaiting a crucial decision from Panama’s President, Jose Raul Mulino, regarding the future of the Cobre Panama mine, which was shut down last year due to public unrest. Cobre Panama is the flagship operation of Canadian miner First Quantum Minerals, which is also seeking damages from Panama. Franco-Nevada, which had a… Read More Here

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