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President Tshisekedi Engages with Nande Community Leaders on Eastern DRC Issues 1 Mining in DRC Governance 

President Tshisekedi Engages with Nande Community Leaders on Eastern DRC Issues

Constance
President Tshisekedi engaged in discussions on Saturday with a delegation comprising traditional chiefs, religious leaders, and economic stakeholders from the Nande community, hailing from the province of North Kivu. The meeting, held at the African Union City, focused on the security situation in the eastern region of the Democratic Republic of Congo (DRC), particularly addressing concerns such as the recent bombing of the Mugunga camp for displaced people in Goma and the socio-humanitarian challenges surrounding compensating the victims. Bishop Mohindo Isesomo, representing the Anglican Diocese of North Kivu, highlighted the… Read More Here
Alexandre Canas Discusses Lobito Railway's Strategic Importance at US-Africa Business Summit 2 Transport and Logistics Angola Mining in DRC 

Alexandre Canas Discusses Lobito Railway’s Strategic Importance at US-Africa Business Summit

Constance
Last week, Alexandre Canas, the country manager for Angola at Trafigura, participated in the Corporate Council on Africa’s US-Africa Business Summit held in Dallas. At the summit, Canas joined Angola’s Minister of Transport, Ricardo Viegas D’Abreu, on an AIPEX Angola-led panel to discuss the strategic significance of the Lobito railway. Trafigura is part of the consortium awarded a 30-year concession to operate the 1,300km Lobito railway, which traverses Angola to the border with the Democratic Republic of Congo. This railway is poised to become a vital link for trade and… Read More Here
Botswana vows to protect interests in potential BHP-Anglo deal 3 International 

Botswana vows to protect interests in potential BHP-Anglo deal

Constance
Botswana President Mokgweetsi Masisi vowed to protect the country’s interests, including its 15% stake in diamond giant De Beers, should BHP Group Ltd. acquire Anglo American Plc. Anglo, which rejected a BHP proposal valuing the mining company at about $39 billion, owns the other 85% of De Beers. Under the proposed deal, BHP — once a major diamond producer itself — said that De Beers would be put on a strategic review. Anglo, the only major miner with a big diamond business, has already been reviewing the future of units… Read More Here
Concerns Mount Over Mining Expansion in DRC's Okapi Wildlife Reserve 4 Mining in DRC Environment Social Governance (ESG) 

Concerns Mount Over Mining Expansion in DRC’s Okapi Wildlife Reserve

Constance
The burgeoning presence of artisanal and semi-industrial mining activities within the Okapi Wildlife Reserve (RFO) in Mambasa, located in the Bunia territory of Ituri province, has become a focal point for conservationists responsible for safeguarding this protected area of the Congolese state. Officials have pointed fingers at Chinese individuals as the primary instigators behind these practices. Albert Walaga, the manager of the reserve, expressed urgent concerns about the exploitation occurring within the reserve, attributing it to Chinese nationals. He emphasized the need for prompt action from all stakeholders to address… Read More Here
Zambia Revenue Authority Faces Defamation Suit from Mashrock Mining 5 Mining in Zambia 

Zambia Revenue Authority Faces Defamation Suit from Mashrock Mining

Constance
Mashrock Mining Limited finds itself embroiled in a legal dispute with the Zambia Revenue Authority (ZRA), alleging defamation and demanding $5 million in damages to its business reputation. The heart of the matter, filed in the Lusaka High Court, revolves around an article published on the official ZRA page, later disseminated across various media platforms. Titled “ZRA unearths tax evasion scheme involving over K82 million,” the article implicates Mashrock Mining Limited in alleged tax evasion activities. The mining company contends that these publications occurred amidst ongoing investigations by the ZRA… Read More Here
IMF Mission Acknowledges Zambia's Economic Progress Amid Challenges 6 Mining in Zambia Economy 

IMF Mission Acknowledges Zambia’s Economic Progress Amid Challenges

Constance
A recent visit from the International Monetary Fund (IMF) to Zambia has underscored the nation’s significant advancements in fiscal adjustments, bolstering social sector spending, and efforts toward debt sustainability. Conducted as part of the third review of the Extended Credit Facility (ECF) Programme, the mission took place from April 24 to May 7, 2024, with a focus on various economic facets, including the impact of drought on the economy. Despite encountering global adversities, Zambia has demonstrated notable strides in fiscal management and investment in social sectors, as highlighted by the… Read More Here
Copper price above $10,000 as supply worries counter faltering demand 7 International Copper 

Copper price above $10,000 as supply worries counter faltering demand

Constance
Copper climbed above $10,000 a ton as predictions for tighter global supplies and rising consumption in electric vehicles and power grids countered signs of demand destruction in top user China. Prices of copper have risen 17% this year on fears of shortages, with aging mines forecast to struggle to keep pace with demand. Supply growth is stagnating, according to ANZ Group Holdings Ltd. analysts including Daniel Hynes. Prices needed to stay around $12,000 a ton to achieve a 10% rate of return for a 300,000-ton mine, they said. Still, Chinese… Read More Here
Rio Tinto Keeps Bid for Anglo American on the Table-Report 8 International 

Rio Tinto Keeps Bid for Anglo American on the Table-Report

Constance
In recent months, Rio Tinto (ASX, LON: RIO) has reportedly contemplated making a bid for Anglo American (LON: AAL), the world’s second-largest miner, currently targeted by BHP (ASX: BHP). While Rio Tinto’s market capitalization trails behind BHP’s, it has not discounted the possibility of pursuing a partial or complete acquisition of Anglo American. According to the Australian Financial Review, Rio Tinto’s management remains open to exploring options regarding Anglo American, including a potential all-share offer for segments or the entirety of the company. Unlike BHP, Rio Tinto already operates in… Read More Here
Panama president-elect rules out FQM talks until arbitration dropped 9 International 

Panama president-elect rules out FQM talks until arbitration dropped

Constance
Panama’s president-elect has ruled out talks with Canadian miner First Quantum Minerals until it drops multiple arbitration proceedings it has launched seeking billions of dollars in compensation from the government over a mine shutdown order. President-elect Jose Raul Mulino spoke about his plans for the major copper mine, once responsible for some 5% of Panama’s economic activity and some 40% of First Quantum’s revenue, in an interview with local news radio program Panama en Directo on Thursday. “To consider talking about mining, those arbitrations need to be suspended,” Mulino said,… Read More Here
CNPAV Urges Probe into Cominière's Handling of Manono Lithium Deposit 10 Mining in DRC Battery Metals Lithium 

CNPAV Urges Probe into Cominière’s Handling of Manono Lithium Deposit

Constance
In a press release issued on Friday, May 10, the Congo Is Not for Sale (CNPAV) coalition demanded an official investigation into the management of the Kitotolo-Manono lithium deposit by Cominière, a state-owned mining company in the Democratic Republic of Congo (DRC). The CNPAV alleges that Cominière received $70 million from Zijin Mining, a Chinese company headed by Jean David E’ngazi, who also sits on the board of directors of Cominière. The “donation,” as termed by CNPAV, was part of a joint venture agreement for the exploitation of the Kitotolo-Manono… Read More Here

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