Constance - Copperbelt Katanga Mining

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DRC Prime Minister Announces Temporary Suspension of Business Audits

January 10, 2025January 10, 2025 Constance

Prime Minister Judith Suminwa has declared a nationwide moratorium on state control missions targeting businesses, addressing concerns raised by the Federation of Congolese Enterprises (FEC) about administrative challenges during the fiscal year-end. The suspension, effective from December 16, 2024, to January 30, 2025, aims to ease pressure on businesses during this crucial period. “I have decided to grant a moratorium on all tax audits, non-tax revenue audits, and routine economic audits to allow economic operators to prepare their financial statements with peace of mind,” the Prime Minister stated in a… Read More Here

Mining in DRC Battery Metals Lithium New Mining Projects

Zijin Mining to Begin Lithium Production in the DRC Amid Legal Disputes

January 9, 2025January 9, 2025 Constance

China’s Zijin Mining Group Co. is set to commence lithium production in the Democratic Republic of Congo (DRC) early next year, leveraging one of the world’s largest deposits of the battery metal. Zijin is ramping up development at the Manono project in southeastern Congo, despite an ongoing legal dispute with Australia’s AVZ Minerals Ltd. AVZ has initiated arbitration against the DRC government, claiming the project’s exploration license was unlawfully reassigned. The Manono project, slated to begin production in Q1 2026, will be the first operational lithium mine in Congo, a… Read More Here

International Exploration Technology & Innovation

Ivanhoe Electric and BHP Launch First Survey in Arizona Under Exploration Alliance

January 9, 2025January 9, 2025 Constance

Ivanhoe Electric (NYSE American: IE, TSX: IE) has launched its inaugural geophysical survey using the advanced Typhoon data acquisition system as part of a copper exploration alliance with global mining giant BHP (ASX, NYSE: BHP). The partnership, established in May 2024, aims to uncover hidden mineral deposits across the southwestern United States. The exploration focuses on six areas of interest in Arizona, New Mexico, and Utah, spanning approximately 3,655 km². BHP has committed $15 million in funding over a three-year period, while Ivanhoe Electric will serve as the operator, deploying… Read More Here

International Copper

Chile’s year-end copper windfall signals mines are recovering

January 9, 2025January 9, 2025 Constance

Chile’s copper export revenue jumped in December, despite lower prices for the metal, indicating that mines in the top-producing country extended a recovery from the lowest levels in two decades. The sales were up 10% from November and 13% compared with the same month a year earlier, at $4.66 billion, according to data released Tuesday by Chile’s central bank. The increase comes despite average monthly prices continuing to decline — to $4.16 a pound in December from a peak of $4.73 in May. Supply from a country that accounts for… Read More Here

Mining in Zambia Copper New Mining Projects

Zambia’s Nationwide Geological Mapping Survey Progresses

January 9, 2025January 12, 2025 Constance

On August 14, President Hakainde Hichilema launched Zambia’s first-ever high-resolution geological mapping survey to identify areas with untapped mineral deposits. This ambitious initiative is part of the government’s strategy to boost mineral exploration and achieve the goal of producing three million tons of copper annually by 2031. The survey, which employs advanced aerial geophysical technology, has already covered significant portions of the Western and North-Western provinces. Mines Permanent Secretary Hapenga Kabeta revealed that the survey divides the country into four zones, with Zone A focusing on these two regions. “Areas… Read More Here

Copper Mining in Zambia

KCM Boosts Production and Employment, Enhances Social Responsibility Under Vedanta

January 9, 2025January 9, 2025 Constance

Konkola Copper Mines (KCM) Plc has increased production by 8,000 metric tons over the past five months, a move that will help protect 12,500 jobs, according to KCM Board Chairman Dr. Moses Banda. In an interview, Dr. Banda highlighted significant achievements since Vedanta Resources took over the management of KCM. He welcomed the 20% salary increase and once-off bonus provided to employees. “In addition to supporting our workforce, we have also made substantial payments to our creditors. Vedanta paid $250 million to creditors, with all Scheme Class 1 creditors fully… Read More Here

Mining in DRC Electricity

COMILU Granted Eligible Customer Status by DRC Electricity Authority

January 8, 2025January 8, 2025 Constance

On December 23, 2024, Sandrine Mubenga Ngalula, the Director General of the Electricity Regulatory Authority (ARE) in the Democratic Republic of Congo (DRC), announced that the Luisha Mining Company (COMILU), based in Lualaba province, had been granted “eligible customer” status. This status was officially confirmed during a compliance notice presentation to the company’s delegation, led by Li, the head of COMILU. In an unusual move, the eligibility status was conferred directly by the Director General of ARE, rather than through the customary ministerial decree from the Minister of Water Resources… Read More Here

Mining in DRC Economy

Tshisekedi Promotes DRC as Investment Hub During Visit to Qatar

January 8, 2025January 8, 2025 Constance

On Sunday, January 5, 2025, in Doha, President Félix Tshisekedi of the Democratic Republic of Congo (DRC) highlighted the country as a prime destination for investment, in the presence of his counterpart, Emir Tamim Bin Hamad Al-Thani of Qatar. During the meeting, President Tshisekedi emphasized the favorable business climate in the DRC, offering opportunities for both local and foreign investors and paving the way for mutually beneficial partnerships. A statement from the Congolese presidency confirmed that at the Diwan Amiri Palace in Doha, the two leaders discussed strengthening bilateral cooperation,… Read More Here

Mining in DRC Economy

DRC Govt Launches $70 Million Treasury Bond Auction to Strengthen Financial Resources

January 8, 2025January 8, 2025 Constance

The Government of the Democratic Republic of Congo (DRC) has announced the opening of a $70 million Treasury Bond auction on January 7, 2025, as part of its efforts to bolster national finances amidst ongoing challenges. This was confirmed in a press release from the Ministry of Finance on January 6, 2025. The bond issuance aims to enhance the state’s financial stability at the beginning of the year and is critical to addressing the country’s persistent economic difficulties. For this initial offering, the interest rate remains at 9%, the same… Read More Here

Mining in DRC Economy

DRC Secures $324 Million Annually in Revised Chinese Mining Contract

January 8, 2025January 8, 2025 Constance

The Democratic Republic of Congo (DRC) is set to receive 957.2 billion Congolese Francs (CDF), equivalent to $324 million, in annual royalties under a revised contract with Chinese companies, effective in 2025. This amendment, signed in January 2024, seeks to enhance infrastructure investment in the country. Key Terms of the Agreement Funds from the agreement will primarily support the construction of roads and other essential infrastructure, a move aimed at opening up remote provinces and fostering regional connectivity. The revised contract was prompted by a study conducted by the General… Read More Here