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Gemfields Records $46.2 Million in Revenue from Latest Ruby Auction Despite Market Challenges 1 Gemstones International 

Gemfields Records $46.2 Million in Revenue from Latest Ruby Auction Despite Market Challenges

Constance
Gemfields, a leading gemstone miner, reported $46.2 million in revenue from its recent auction of mixed-quality rough rubies recovered from the Montepuez ruby mine in Mozambique. The auction, which featured 102 lots, saw 97 lots successfully sold. The auction revenue was impacted by a lower quantity of premium rubies available, which Gemfields identified as the primary factor driving the lower-than-expected results. However, the company noted that the average price per carat reached a record high for its mixed-quality ruby auctions, despite observing softer prices and thinner bidding. The rubies were… Read More Here
MMG Kinsevere Boosts Community Inclusion with Youth Recruitment Initiative 2 Mining in DRC 

MMG Kinsevere Boosts Community Inclusion with Youth Recruitment Initiative

Constance
MMG Kinsevere has taken a major step in advancing its community inclusion efforts by integrating 200 young people from 26 villages surrounding its mining operations into its workforce. On Wednesday, December 11, 2024, these individuals officially joined the professional sector through recruitment by Congo Astrale Company (CAC), the new security provider tasked with safeguarding the mining site. The presentation ceremony took place at the Cultural Center in Kifita village, located in the Kipushi territory’s Bukanda sector. The event was attended by officials from various entities invited by CAC. Gaunce Bupe,… Read More Here
President Tshisekedi Unveils Ambitious Rural Infrastructure Plan for 2025 3 Mining in DRC Infrastructural Development 

President Tshisekedi Unveils Ambitious Rural Infrastructure Plan for 2025

Constance
In his annual State of the Nation Address at the People’s Palace, President Félix Tshisekedi presented an ambitious plan to rehabilitate rural infrastructure in 2025. This initiative is a key component of the Local Development Program of the 145 Territories (PDL-145T). The Head of State announced plans to rehabilitate 38,000 kilometers of agricultural service roads under the PDL-145T, along with 11,423 kilometers of additional priority roads, all within a single year. “This work will be accompanied by the deployment of road brigades in each province to ensure regular maintenance,” stated… Read More Here
DRC and EU Launch Strategic Roadmap for Sustainable Development and Energy Transition 4 Mining in DRC Partnership 

DRC and EU Launch Strategic Roadmap for Sustainable Development and Energy Transition

Constance
On an official visit to Belgium for Raw Materials Week, Democratic Republic of Congo (DRC) Minister of Mines Kizito Pakabomba delivered a pivotal speech in Brussels on Wednesday, December 11, 2024. The event marked the official launch of the DRC-EU roadmap, following the signing of a Memorandum of Understanding (MoU) between the DRC and the European Union on October 26, 2023. In his address, Minister Pakabomba emphasized the importance of this strategic partnership, rooted in shared values of sustainability, transparency, and inclusive development. He reaffirmed the DRC’s commitment to playing… Read More Here
President Tshisekedi Highlights DRC's Economic Resilience Amid Global Challenges 5 Mining in DRC Economy Governance 

President Tshisekedi Highlights DRC’s Economic Resilience Amid Global Challenges

Constance
On Wednesday, addressing a joint session of parliament in Kinshasa, President Félix Tshisekedi outlined the Democratic Republic of Congo’s economic situation. Despite global economic shocks and geopolitical tensions, Tshisekedi emphasized that the country has demonstrated “exemplary” resilience and is adapting “successfully” to contemporary challenges, with promising signs of economic stability. “We are forecasting 6% growth this year, well above the 3.8% average expected for sub-Saharan Africa. Despite a slight slowdown, this result showcases our resilience to global and local challenges, providing a foundation for a more diversified, sustainable, and forward-looking… Read More Here
Glencore CEO Meets President Tshisekedi to Deepen Commitment to the DRC and Its People 6 Mining in DRC Corporate News 

Glencore CEO Meets President Tshisekedi to Deepen Commitment to the DRC and Its People

Constance
Glencore Group CEO Gary Nagle held discussions with President Félix Tshisekedi and Prime Minister Judith Suminwa in Kinshasa on Tuesday, December 10. In a press release issued after the meeting, Glencore highlighted its intention to deepen its engagement with the Democratic Republic of Congo (DRC) and its citizens, especially in communities hosting its operations at Mutanda Mining (MUMI) and Kamoto Copper Company (KCC). Gary Nagle was accompanied by senior Glencore executives, including Anne Edwards, Head of Corporate Affairs; Marie-Chantal Kaninda, Chair of Glencore DRC; and Mark Davis, Managing Director of… Read More Here
Barrick Gold Seeks Buyer for Côte d'Ivoire's Tongon Mine Amid Gold Price Surge 7 International Corporate News Gold 

Barrick Gold Seeks Buyer for Côte d’Ivoire’s Tongon Mine Amid Gold Price Surge

Constance
Barrick Gold Corp., the world’s second-largest gold producer, is seeking buyers for its Tongon gold mine in Côte d’Ivoire as part of its strategy to divest aging assets while gold prices remain high. Barrick has partnered with Toronto-Dominion Bank to identify potential buyers and solicit bids for the mine, according to sources familiar with the matter. Neither Barrick nor TD Bank has commented on the sale. Located 682 km north of Côte d’Ivoire’s port city of Abidjan, Tongon is an open-pit mine nearing the end of its operational life. Production… Read More Here
Codelco and Enami Explore Collaboration on Copper Smelting Expansion 8 International Copper 

Codelco and Enami Explore Collaboration on Copper Smelting Expansion

Constance
Chile’s state-owned copper giants, Codelco and Enami, are in early discussions to consolidate their efforts to expand smelting capacity into a single project, according to sources familiar with the matter. A newly formed working group is exploring options for cooperation between two initiatives: Enami’s project to revamp its closed Hernan Videla Lira smelter and Codelco’s proposal to build a new smelting facility. The collaboration could range from aligning their projects to meet national processing needs to merging the two into a single venture. Strengthening Chile’s smelting capacity is a key… Read More Here
Zambia’s Finance Minister Refutes Tax Holidays for Multinational Mining Companies 9 Mining in Zambia Economy Mining tax 

Zambia’s Finance Minister Refutes Tax Holidays for Multinational Mining Companies

Constance
Zambia’s Finance Minister, Situmbeko Musokotwane, has dismissed allegations that the government provides tax holidays to multinational mining companies, asserting, “There is no mine that has been given a tax holiday.” Speaking in Parliament, Musokotwane emphasized that Zambia’s tax policies are designed to align with international standards, ensuring stability in the mining sector while fostering investment. . He noted that previous policy inconsistencies had led to production declines and mine closures, prompting the government to adopt a more consistent approach. The Minister criticized misinformation from certain civil society organizations and political… Read More Here
Zambia Seeks EU Support to Strengthen Mining and Economic Development 10 Mining in Zambia Copper Economy 

Zambia Seeks EU Support to Strengthen Mining and Economic Development

Constance
Zambia’s Minister of Mines and Mineral Development, Hon. Paul Kabuswe, has called on the European Union (EU) to bolster its support for Zambia’s mining sector and overall economic growth. The Minister made the appeal during a bilateral meeting with EU International Partnership Commissioner Jozef Sikela in Brussels. Hon. Kabuswe emphasized Zambia’s political stability, adherence to the rule of law, and peaceful environment as key factors in attracting European investors. He highlighted the mining sector’s impressive $10 billion investment growth over the past three years and acknowledged the EU’s valuable contributions… Read More Here

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