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Sinomine Resources Expands Global Reach with Strategic Acquisitions in Namibia and Zambia 1 Mining in Zambia Mergers & Acquisitions Mining in DRC 

Sinomine Resources Expands Global Reach with Strategic Acquisitions in Namibia and Zambia

Constance
Founded in 1999, Sinomine Resources Group Co., Ltd. has rapidly expanded its operations across more than 40 countries and regions spanning Asia, Africa, Europe, America, and Oceania. With branches in key locations such as China, Canada, the United States, the United Kingdom, Norway, Zimbabwe, the Democratic Republic of the Congo (DRC), and Zambia, the company has established a robust international presence. In March 2024, Sinomine (Hong Kong) Rare Metals Resources Co., Ltd., a wholly-owned subsidiary, completed the acquisition of the Tsumeb smelter from Dundee Precious Metals Inc. This acquisition, valued… Read More Here
Kagem delivers ZMW 38 million (USD 1.5 million) dividend to the IDC 2 Mining in Zambia Gemstones 

Kagem delivers ZMW 38 million (USD 1.5 million) dividend to the IDC

Constance
Kagem Mining Limited (Kagem) has handed over ZMW 38 million (USD 1.5 million) to the Industrial Development Corporation (IDC).The funds represent dividends from 2023 to the government’s investment arm, which owns 25% of the shares in what is believed to be the world’s largest producing emerald mine, and underscore Kagem’s ongoing commitment to contribute to Zambia’s economic development. The handover highlights Kagem’s continued dedication to striving towards responsible mining practices and transparent financial management and reinforces the company’s commitment to adhering to the ‘G-Factor for Natural Resources’ model championed by… Read More Here
DRC Govt Seeks Bank Financing to Address Critical Petroleum Supply Shortages 3 Mining in DRC Oil & Gas 

DRC Govt Seeks Bank Financing to Address Critical Petroleum Supply Shortages

Constance
The Democratic Republic of Congo (DRC) continues to face significant challenges in resupplying petroleum products, posing a major headache for the government. During the 5th meeting of the Council of Ministers on Friday, July 12, 2024, VPM and Minister of National Economy Daniel Mukoko Samba revealed that oil companies are threatened by stock shortages. He requested government authorization to conduct a second drawing with commercial banks to mitigate the potential harm to the Congolese population. “The information in his possession indicates that the stock level of petroleum products of commercial… Read More Here
Haut-Uele Civil Society Calls for Suspension of Chinese-Supported Mining Activities 4 Mining in DRC 

Haut-Uele Civil Society Calls for Suspension of Chinese-Supported Mining Activities

Constance
On Saturday, July 13, in Isiro, the Haut-Uele Civil Society Synergy called on the provincial governor to suspend semi-industrial mining activities by cooperatives supported by Chinese expatriates. This northeastern province of the Democratic Republic of Congo has seen extensive mining operations, which civil society claims have not contributed to local development or improved living conditions for the population. The statement highlighted several concerns: –Environmental Destruction: Unregulated use of heavy machinery has led to significant environmental damage, including deforestation, water pollution, soil degradation, and the destruction of road infrastructure, particularly bridges.… Read More Here
President Tshisekedi Directs ARSP CEO to Aggressively Promote Middle Class Growth 5 Mining in DRC 

President Tshisekedi Directs ARSP CEO to Aggressively Promote Middle Class Growth

Constance
On Tuesday, July 16, 2024, Director General of the Regulatory Authority for Subcontracting in the Private Sector (ARSP) presented a report to President Félix-Antoine Tshisekedi Tshilombo, highlighting the agency’s recent achievements. The ARSP has made substantial progress in integrating Congolese individuals into the ownership of major subcontracting companies working with large mining groups. Notable achievements include the integration of Congolese shareholders into the BANGDE company, which collaborates with SICOMINES, and four subcontracting companies of the ERG AFRICA group. Seven Congolese individuals have become shareholders in these companies. Similarly, SANDVIK INTERNATIONAL… Read More Here
Changes to the ERG Board of Directors 6 Mining Personality Press Release 

Changes to the ERG Board of Directors

Constance
Eurasian Resources Group S.à r.l. (ERG) announces key changes to its Board of Directors to further develop and strengthen the company in response to global challenges and rapidly changing market conditions: –Mr. Shukhrat Ibragimov has been elected Chairman of the Board, serving since 2021. –Mr. Sabir Chodiev replaces Dr. Patokh Chodiev. –Mr. Eduard Surlevich replaces Dr. Alexander Machkevitch. -Representatives of the Government of the Republic of Kazakhstan, Deputy Prime Minister Mr. Serik Zhumangarin and Minister of Finance Mr. Madi Takiyev, will continue in their roles as board members. The contributions… Read More Here
DRC's Oil and Gas Exploitation Faces Backlash Amid Global Shift to Renewable Energy 7 Mining in DRC Energy Oil & Gas 

DRC’s Oil and Gas Exploitation Faces Backlash Amid Global Shift to Renewable Energy

Constance
As the world transitions from fossil fuels to renewable energy, the Democratic Republic of Congo (DRC) has launched a project to exploit its oil and gas blocks, initiating calls for tender since July 2023. Despite committing to global environmental standards, this move has sparked controversy. According to environmental organizations, activating these oil and gas blocks contradicts the DRC’s agreement to protect the Congo Basin tropical forest, an agreement that secured $500 million in international investments over the first five years. Congolese authorities maintain that all international recommendations to limit climate… Read More Here
CNPAV Backs Court of Auditors' Investigation into IGF-Gécamines File 8 Mining in DRC Mining Policy 

CNPAV Backs Court of Auditors’ Investigation into IGF-Gécamines File

Constance
The Congo is Not for Sale consortium (CNPAV) has expressed its full support for the recent initiative by the Court of Auditors to summon Mr. Jules Alingete, Chief Inspector of the General Inspectorate of Finance (IGF), regarding the “consultancy” file with Gécamines. This action marks a significant step towards enhancing transparency and integrity in managing public affairs in the country. According to the Court of Auditors’ report, the IGF’s 90-day control mission was transformed into a training mission for Gécamines agents and executives, costing $750,000 for services from November 2023… Read More Here
PMRC Urges Chinese Investment in Zambia's Electric Vehicle Manufacturing 9 Mining in Zambia Battery Metals 

PMRC Urges Chinese Investment in Zambia’s Electric Vehicle Manufacturing

Constance
The Policy Monitoring and Research Centre (PMRC) has urged Chinese investors to establish electric vehicle (EV) manufacturing plants in Zambia, highlighting the country’s abundant critical minerals essential for the industry. Speaking at the Association of Chinese Corporations in Zambia (ACCZ) Economic and Trade Symposium held last week, PMRC’s acting head of monitoring and evaluation, Esther Nyemba, noted that China accounts for 58 percent of global EV production, making Zambia an attractive location for investment. “Cabinet approval of open access and net metering regulations enables industries and households to supply electricity… Read More Here
Tragedy Strikes Illegal Gold Mining Operation in Shiwang'andu 10 Mining in Zambia Artisanal mining Gold Mine Safety News in Brief 

Tragedy Strikes Illegal Gold Mining Operation in Shiwang’andu

Constance
A tragic incident occurred in Shiwang’andu, Muchinga Province, where an unidentified man lost his life and another was injured during illegal gold mining activities. The accident took place on Friday around 16:00 at the Chipindo gold mine in Chief Mukwikile’s chiefdom. The survivor, 23-year-old Felix Mulenga from Mpika district, was rescued by fellow miners and rushed to Mpika Urban Clinic. Unfortunately, the deceased was pronounced dead upon arrival, while Mulenga suffered bruises to his neck, lips, and eyelids and is currently receiving treatment. Police commanding officer Paul Achinme confirmed that… Read More Here

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