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DRC Minister Confirms Near Completion of Dan Gertler’s Exit from Mining and Oil Assets 1 Mining in DRC 

DRC Minister Confirms Near Completion of Dan Gertler’s Exit from Mining and Oil Assets

Constance
The Minister of Hydrocarbons of the Democratic Republic of Congo (DRC), Aimé Molendo Sakombi, announced on Thursday that the process of divesting Israeli businessman Dan Gertler from Congolese mining and oil assets is nearly complete. “I can confirm, as a government, that the process is nearing its end. In a few weeks, the Ventora group (Dan Gertler) will be fully divested from all Congolese assets,” the minister stated at the Makutano forum in Kinshasa. Gertler, a controversial figure in the DRC’s mining sector, signed a memorandum of understanding with the… Read More Here
Carter Center Report Highlights Shortcomings in DRC Mining Companies’ Social Commitments 2 Mining in DRC 

Carter Center Report Highlights Shortcomings in DRC Mining Companies’ Social Commitments

Constance
A recent study published by the Carter Center in November 2024, titled White Paper on the Specifications of Mining Companies in the DRC, reveals a significant shortfall in mining companies’ adherence to sustainable development commitments, particularly in relation to the needs of local communities affected by mining activities. The report finds that out of 402 specifications intended to address these needs between 2018 and 2024, only 71 have been signed—an alarming 18% compliance rate. Furthermore, the budgets allocated to these signed specifications are deemed insufficient, with the average annual budget… Read More Here
Kamoto Copper Company’s Bank Accounts Unfrozen Amid Financial Reforms 3 Mining in DRC Cobalt Corporate News 

Kamoto Copper Company’s Bank Accounts Unfrozen Amid Financial Reforms

Constance
Kamoto Copper Company (KCC), a leading cobalt producer in the Democratic Republic of Congo (DRC), has had its bank accounts unfrozen following a decision reached during a working session at the Ministry of Finance on Tuesday. The meeting, which was attended by the Governor of Lualaba, Fifi Masuka, and KCC representatives, marked a significant step towards resolving the financial restrictions that have impacted the company since November 2022. The decision to unfreeze KCC’s accounts, according to Finance Minister Doudou Fwamba, is aimed at safeguarding the social interests of the Lualaba… Read More Here
DRC Prime Minister Highlights War Impact on Biodiversity at COP29 4 Mining in DRC Events & Expos Governance 

DRC Prime Minister Highlights War Impact on Biodiversity at COP29

Constance
Judith Suminwa, Prime Minister of the Democratic Republic of Congo (DRC), raised significant concerns about the threats facing her country’s biodiversity during a speech at the United Nations Climate Change Conference (COP29) in Baku, Azerbaijan, on Wednesday. She attributed the dangers to the ongoing conflict in the eastern DRC, which she blamed on Rwanda. “My country’s biodiversity is in peril due to the war unjustly imposed by Rwanda,” Suminwa stated. “This crisis forces us to divert a substantial portion of our budget towards military efforts and the protection of our… Read More Here
Vital Kamerhe Calls for Reflection on DRC's Mining Challenges 5 Mining in DRC Cobalt Copper Lithium 

Vital Kamerhe Calls for Reflection on DRC’s Mining Challenges

Constance
The Democratic Republic of Congo (DRC), rich in minerals like cobalt, copper, and lithium, faces significant challenges in its extractive sector. Despite its vast resources, issues such as illicit mining, environmental pollution, corruption, and poor working conditions persist. On November 13, 2024, during a plenary session, President of the National Assembly Vital Kamerhe called for a reassessment of the country’s mining sector. He highlighted the involvement of government officials, including some deputies and ministers, in illegal mining operations, and lamented the existence of “illegal protectors” in the sector. Minister of… Read More Here
DRC Loses Billions to Gold Mining Fraud, Warns DRC Gold Trading 6 Mining in DRC Economy Gold News in Brief 

DRC Loses Billions to Gold Mining Fraud, Warns DRC Gold Trading

Constance
The Democratic Republic of Congo (DRC) is facing significant financial losses in its mining sector due to widespread fraud. Joseph Kazibaziba, Managing Director of DRC Gold Trading SA, a company operating in the gold mining industry, revealed that “more than 50 tons of gold are fraudulently exported to the east coast of Congo, amounting to over 5 billion USD.” He acknowledged that one of the major challenges remains integrating the substantial quantity of gold extracted through artisanal methods back into the official economy. The causes of this fraud are numerous,… Read More Here
President Kamerhe Urges Action Against Foreign Control of DRC’s Mining Sector 7 Mining in DRC 

President Kamerhe Urges Action Against Foreign Control of DRC’s Mining Sector

Constance
In a powerful address to the National Assembly, President Vital Kamerhe voiced strong concerns about the overwhelming presence of foreign nationals, particularly Chinese and Somalis, in the mining sites of the Democratic Republic of Congo (DRC). Speaking on November 13, 2024, during a hearing with the Minister of Mines, Kamerhe painted a grim picture of the country’s mining situation, highlighting practices he deemed unacceptable. He specifically called attention to the protection of foreign operations by certain national security forces. “The presence of Chinese and Somalis in all mining sites is… Read More Here
Primera Gold Rebrands as DRC Gold Training, Strengthens National Governance in the Gold Sector 8 Mining in DRC Gold 

Primera Gold Rebrands as DRC Gold Training, Strengthens National Governance in the Gold Sector

Constance
Mining company Primera Gold has officially rebranded as DRC Gold Training, marking a significant shift in the management of the country’s artisanal gold sector. This transformation comes under the stewardship of the Congolese state, which now holds a 55% majority stake in the company. Along with the state’s ownership, the Mining Fund for Future Generations has acquired 30% of the shares, and Gécamines holds 15%. This new structure underscores the government’s commitment to placing the management of artisanal gold mining at the heart of national interests, ensuring that local stakeholders… Read More Here
North-Western Province Leads Zambia's Copper Boom and Economic Transformation 9 Mining in Zambia Copper Economy 

North-Western Province Leads Zambia’s Copper Boom and Economic Transformation

Constance
Minister of Mines Paul Kabuswe has highlighted increased copper production in North-Western Province’s major mines as a testament to the sector’s robust growth. Speaking at a media briefing in Kalumbila District, Mr. Kabuswe revealed that Zambia’s annual copper production now stands at 810,000 metric tonnes. He expressed confidence that the country’s target of three million metric tonnes per year is achievable with the revival of Konkola Copper Mines (KCM) and Mopani Copper Mines, alongside new mining projects spearheaded by President Hakainde Hichilema. Mr. Kabuswe also dispelled rumors about Kansanshi gold… Read More Here
Barrick Lumwana Mine to Double Copper Output by 2028 10 Mining in Zambia Copper Economy 

Barrick Lumwana Mine to Double Copper Output by 2028

Constance
Barrick Lumwana Mine is set to double its annual copper production from 120,000 metric tonnes to 240,000 metric tonnes by 2028, driven by the expansion of its Super Pit Mine. During a visit to the mine by a delegation of three Cabinet Ministers led by Minister of Mines and Mineral Development Paul Kabuswe, Barrick Lumwana Country Manager Anthony Malenga credited the anticipated growth to the government’s stable policy environment. Mr. Malenga highlighted the company’s dedication to local employment, noting that 99% of its workforce comprises Zambians, with 40% being community… Read More Here

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