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US Turns to Africa to Diversify Battery Metal Supply Chains 1 Cobalt Battery Metals Copper Lithium 

US Turns to Africa to Diversify Battery Metal Supply Chains

Constance
The United States is seeking to Africa to reduce reliance on Chinese-controlled battery metals and diminish Russia’s influence on mineral markets, US Deputy Treasury Secretary Wally Adeyemo stated on Thursday. In light of the pandemic and geopolitical tensions, Western nations are striving to decrease dependency on Chinese supply chains and disentangle their economies from Russia. As the US advances its energy transition agenda, it aims to catch up with China’s decade-long efforts to secure access to minerals crucial for electric vehicle batteries and solar panels. “We don’t want to overly… Read More Here
President Tshisekedi Oversees Renegotiation of Mining Contract with Chinese Group 2 Mining in DRC Cobalt Copper 

President Tshisekedi Oversees Renegotiation of Mining Contract with Chinese Group

Constance
In Kinshasa this Thursday, President Félix Tshisekedi led the signing of the renegotiated mining contract with the Chinese Enterprises Group (GEC), marking the fifth amendment to the collaboration agreement initiated in April 2008 for mining and infrastructure projects in the Democratic Republic of Congo (DRC). The contract amendment aims to establish a mutually beneficial partnership, including a significant increase in infrastructure investment from USD 3.2 billion to USD 7 billion, with plans for constructing approximately 5,000 km of roads, according to Alexis Gisaro, Minister of State for Infrastructure and Public… Read More Here
DRC Grants $3.5M to Buenassa for Copper-Cobalt Plant 3 Mining in DRC Battery Metals Cobalt Copper 

DRC Grants $3.5M to Buenassa for Copper-Cobalt Plant

Constance
Buenassa SARL has been granted $3.5 million by the Democratic Republic of Congo’s Industry Promotion Fund to facilitate the establishment of a copper and cobalt refinery in Lualaba province. The company announced this development in a recent press release. The funding, allocated by the Industry Minister Julien Paluku, is intended to kickstart the project aimed at bridging the gap between mining and the production of battery precursors. The initial focus will be on conducting studies, with production slated to commence in 2027. Buenassa SARL has set ambitious targets of producing… Read More Here
Thunder Gold Completes Sale of 25% Stake in Namibia's Kalahari Copper Belt Project to Noronex 4 International Copper Gold 

Thunder Gold Completes Sale of 25% Stake in Namibia’s Kalahari Copper Belt Project to Noronex

Constance
Thunder Gold Corp, formerly known as White Metal Resources, has completed its exit from Namibia by selling its remaining 25% interest in the Kalahari Copper Belt to its joint venture partner Noronex. The belt includes the Witvlei and Dordabis projects, collectively known as the DorWit projects, boasting a current JORC (2012) compliant resource of 10 million tons at 1.3% Cu, with significant exploration potential. Noronex’s acquisition of Larchmont Investments in November 2020 led to a majority stake in Aloe 237 Investments, the owner of the Kalahari Copper Belt licenses. Now,… Read More Here
Ivanhoe Electric to Implement Advanced Software at Tintic Copper-Gold-Silver Project 5 Technology & Innovation Copper Exploration Gold International Mining technology Press Release 

Ivanhoe Electric to Implement Advanced Software at Tintic Copper-Gold-Silver Project

Constance
Ivanhoe Electric Announces Application of Latest Computational Geosciences Inc. Software at Tintic Copper-Gold-Silver Project in Utah Recent Advancements in CGI’s Machine Learning-based Software Improve Quality and Speed of Typhoon™ Data Processing Updated Interpretation of Typhoon™ Survey Data at Tintic Resulted in Refined Drill Targets Ivanhoe Electric and CGI Are Utilizing the Latest Software in Recent U.S. Surveys and in the Company’s Saudi Arabian Exploration Joint Venture with Ma’aden PHOENIX, ARIZONA – Ivanhoe Electric Inc. (“Ivanhoe Electric”) (NYSE American: IE; TSX: IE) and its subsidiary, Computational Geosciences Inc. (“CGI”), are pleased to… Read More Here
Angola's 'Diversifica Mais' Initiative Sparks Economic Growth Along Lobito Corridor 6 International Transport and Logistics 

Angola’s ‘Diversifica Mais’ Initiative Sparks Economic Growth Along Lobito Corridor

Constance
The “Diversifica Mais” initiative, launched by the Ministry of Planning in Luanda, aims to drive economic diversification and job creation along the Lobito Corridor. This project is set to support 370 companies operating within the corridor, while offering technical assistance to an additional two thousand enterprises. Led by project director Laércio Cândido, Diversifica Mais aims to increase private investment and foster growth among micro, small, and medium-sized enterprises. With a projected timeline extending until 2029, the initiative seeks to facilitate sustainable economic transformation throughout the corridor, spanning over a thousand… Read More Here
DRC Secures $123.5 Million Syndicated Loan to Repay Oil Company Subsidies 7 Mining in DRC Oil & Gas 

DRC Secures $123.5 Million Syndicated Loan to Repay Oil Company Subsidies

Constance
The Democratic Republic of Congo (DRC) has secured $123.5 million from a consortium of local banks, including Standard Bank, FirstBank RDC SA, Ecobank RDC, and Equity BCDC, to reimburse oil companies for fuel subsidies. This announcement was made jointly by the Ministers of Finance and the Economy, along with a press release from the participating banks. The syndication agreement, known as the “Club Deal,” represents a groundbreaking initiative in the Congolese financial sector and signals a significant milestone in its development. The funds raised will support the government’s efforts to… Read More Here
Zambia Secures Debt Restructuring Deals with China and India 8 Mining in Zambia Economy 

Zambia Secures Debt Restructuring Deals with China and India

Constance
Zambian President Hakainde Hichilema announced that agreements have been reached between China and India to restructure Zambia’s debt holdings. This move comes as Zambia seeks to address its significant debt burden, which exceeds $13 billion in external debt, a challenge compounded by its status as Africa’s second-largest copper producer, which halted payments in 2020. Last year, Zambia made progress in modifying $6.3 billion in debts owed to official lenders. However, efforts were hindered when China, as the largest creditor, objected to a deal with private investors involving approximately $4 billion… Read More Here
American Firm Center-Ville Group Partners with MIBA in $45 Million Deal in DRC 9 Mining in DRC Diamond 

American Firm Center-Ville Group Partners with MIBA in $45 Million Deal in DRC

Constance
Center-Ville Group, an American firm, has inked a partnership agreement with Bakuanga Mining Company (MIBA) in Kinshasa, totaling $45 million. According to a press release by MIBA’s Chairman of the Board of Directors and Director-General, the contract, structured as a loan, is intended to finance MIBA’s minimum recovery plan for diamond marketing. The funds, repayable over a seven-year period at a 3% annual interest rate, aim to bolster diamond sales both domestically and internationally. MIBA’s management views the partnership as an opportunity to optimize diamond sales and maximize profits, with… Read More Here
Certification Boosts Transparency in Congolese Artisanal Mining 10 Mining in DRC Artisanal mining 

Certification Boosts Transparency in Congolese Artisanal Mining

Constance
The Federal Institute of Geosciences and Natural Resources, in collaboration with the Federation of Congolese Companies (FEC), has completed a six-month training program for two Congolese auditors on artisanal and small-scale mining. The accreditations were awarded to the beneficiaries on Tuesday, March 12, 2024, in Kinshasa. Louis Watum, President of the Chamber of Mines within the FEC, emphasized the rigorous training undergone by the auditors, aimed at enhancing the certification process for artisanal mining activities, particularly in cobalt, copper, and the 3Ts (tin, tantalum, and tungsten). The auditors are tasked… Read More Here

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