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DRC to Establish Joint Company for Local Diamond Processing and Jewelry Manufacturing 1 Mining in DRC Diamond Economy 

DRC to Establish Joint Company for Local Diamond Processing and Jewelry Manufacturing

Constance
The Democratic Republic of Congo (DRC) is set to establish a joint company dedicated to the local cutting and polishing of diamonds and colored stones, as well as jewelry manufacturing. This initiative was announced on Tuesday, July 16, following a meeting between Kizito Pakaboma, head of the Congolese mining sector, and Teit Ritzau, Managing Director of the Swiss firm Adex Platform, an international consortium specializing in diamonds and precious stones. According to the Ministry of Mines’ communications unit, the Adex Platform AG delegation presented a report detailing the progress of… Read More Here
GoviEx Uranium Shifts Focus to Zambia Amid Niger Setback 2 Mining in Zambia Uranium 

GoviEx Uranium Shifts Focus to Zambia Amid Niger Setback

Constance
TSX-V-listed GoviEx Uranium has announced its intention to fight for its rights at the Madaouela project in Niger while redirecting efforts towards its Muntanga project in Zambia. Nearly two weeks ago, the Nigerien government informed GoviEx that it no longer holds rights over the mining permit perimeter for its Madaouela project, which has reverted to the public domain. “This decision came despite our very best efforts spanning almost two decades, transforming Madaouela from an exploratory venture into one of the world’s largest-known uranium deposits. Since acquiring our license, we have… Read More Here
South Kivu Governor Orders Immediate Suspension of All Mining Activities 3 Mining in DRC 

South Kivu Governor Orders Immediate Suspension of All Mining Activities

Constance
The governor of South Kivu, Professor Jean-Jacques Parusi Salumu, has issued an order signed on July 18, 2024, suspending all mining activities throughout the province. According to the decree, “Article 1: All activities related to mining throughout the entire province of South Kivu carried out by all companies, businesses, and cooperatives of any kind are suspended, whether operating de facto or de jure in the province of South Kivu, until further notice. Article 2: All companies, businesses, and cooperatives referred to in the preceding article are required to leave the… Read More Here
Zambia Signs Agreement for 50MW Solar Plant in Kafue 4 Mining in Zambia Green Energy 

Zambia Signs Agreement for 50MW Solar Plant in Kafue

Constance
On July 17, 2024, Zambia took a significant step toward a greener future with the signing of an Implementation Agreement for a 50MW solar plant in Kafue Town. The agreement was signed by Dr. Francesca Chisangano Zyambo, Permanent Secretary of Administration at the Ministry of Energy, and Mr. Erich Horlacher, CEO of Wendit Group. Dr. Zyambo expressed the government’s commitment to advancing renewable energy initiatives, emphasizing the importance of sustainable energy development for Zambia’s future. Mr. Horlacher thanked the Zambian government for its unwavering support and vision. He highlighted that… Read More Here
Zambia Approves K2.46 Billion Investment in Energy Sector 5 Mining in Zambia Energy Oil & Gas 

Zambia Approves K2.46 Billion Investment in Energy Sector

Constance
The Energy Regulation Board (ERB) in Zambia has approved thirty-four license applications and five construction permits within the renewable energy and petroleum sub-sectors. These approvals, totaling an investment of K2.46 billion (US$98.4 million), were granted during the July licensing committee meeting. ERB Public Relations Manager Namukolo Kasumpa announced that thirty-five applications were reviewed, with one license application being rejected due to non-compliance with safety standards and regulations. “The stringent licensing process demonstrates the Board’s commitment to promoting investment and growth in the energy sector while maintaining strict adherence to safe… Read More Here
DRC Faces Energy Deficit, Relies on Imports from Neighbors 6 Mining in DRC Electricity Mining in Zambia 

DRC Faces Energy Deficit, Relies on Imports from Neighbors

Constance
The Democratic Republic of Congo (DRC) relies heavily on electricity imports to support its mining sector and overall economy. During a press briefing organized by the Ministry of Communication and Media on Thursday, Minister of Water Resources and Electricity, Teddy Lwamba Muba, discussed the challenges and potential solutions to address this growing dependency. Dr. Teddy Lwamba Muba, an electromechanical engineer and former Deputy Director General of the National Electricity Company (SNEL), highlighted the stagnation in the country’s electricity production since 1982. “The history of electricity production in the DRC effectively… Read More Here
DRC Plans to Enhance Energy and Water Supply Infrastructure 7 Mining in DRC Energy Infrastructural Development 

DRC Plans to Enhance Energy and Water Supply Infrastructure

Constance
The Democratic Republic of Congo (DRC) currently has an electrical energy capacity of 2,800 Megawatts (MW), but only 2,100 MW are utilized, according to data shared on Thursday, July 18, 2024, by Minister of Hydraulic Resources and Electricity, Teddy Lwamba Muba. The information was provided during a press briefing co-hosted with the Minister of Communication and Media, Patrick Muyaya Katembwe. Minister Lwamba outlined the government’s strategy to improve water and electricity supply, emphasizing a multi-phase approach. “The electricity sector in the DRC is growing and developing. Today, we have an… Read More Here
DRC's Mining Sector Consumes 1,400 MW, Generating $35 Billion GDP 8 Mining in DRC Electricity 

DRC’s Mining Sector Consumes 1,400 MW, Generating $35 Billion GDP

Constance
The Democratic Republic of Congo’s mining sector consumes 1,400 MW of electricity, contributing $35 billion to the country’s GDP. This information was shared by Minister of Hydraulic Resources and Electricity, Teddy Lwamba Muba, during a press briefing on July 18, 2024, alongside Communication and Media Minister Patrick Muyaya. Lwamba highlighted that mining is a significant economic driver, stating, “For every 1 MW produced, approximately $20 million is generated in GDP.” He emphasized the importance of prioritizing energy allocation to the industrial sector to boost production. Lwamba outlined the government’s strategic… Read More Here
Twelve Congolese Companies Secure Subcontracting Deals with Kamoa Copper 9 Mining in DRC Copper Mining Supply Tenders 

Twelve Congolese Companies Secure Subcontracting Deals with Kamoa Copper

Constance
Twelve Congolese companies have been granted subcontracting contracts with Kamoa Copper, a subsidiary of Ivanhoe Mines operating in Lualaba province. This significant milestone is attributed to the diligent efforts of the Private Sector Subcontracting Regulatory Authority (ARSP). During his visit to Lualaba province, Miguel Kashal participated in the signing of contracts between these subcontractors and Kamoa Copper. He was accompanied by members of the ARSP Board of Directors, senior executives, and a strong delegation of entrepreneurs. The companies awarded the contracts include startups and local community members. The ARSP Director… Read More Here
Gold Prices Surge as DRC Poised for Increased Production in 2024 10 Mining in DRC Economy Gold 

Gold Prices Surge as DRC Poised for Increased Production in 2024

Constance
The price of gold has stabilized above $2,400 per ounce, with recent trading at $2,412 per ounce, nearing its historic high of $2,450 reached in May 2024. This positive trend comes as welcome news for the Democratic Republic of Congo (DRC), which is anticipating a rise in gold production this year. According to data from Bloomberg and other sources, gold prices have surged by 17% since the beginning of 2024. This increase has occurred despite challenges such as high interest rates and persistent inflation. On July 11, 2024, gold prices… Read More Here

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