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Sibanye-Stillwater Faces $2.58 Billion Impairments Amid Metal Price Decline 1 International 

Sibanye-Stillwater Faces $2.58 Billion Impairments Amid Metal Price Decline

Constance
Multinational mining and metals processing giant Sibanye-Stillwater grapples with impairments totaling $2.58 billion (approximately R47.45 billion) for the 2023 fiscal year due to plummeting metal prices and operational challenges. CEO Neal Froneman highlighted the adverse impact of sharply declining commodity prices on the group’s profitability, particularly affecting platinum group metal (PGM) operations in the United States and South Africa, as well as zinc operations in Australia. The average rand-denominated platinum, palladium, rhodium, and gold (4E) PGMs basket price decreased by 32%, while the average dollar-denominated platinum and palladium (2E) PGMs… Read More Here
European Union Reaffirms Commitment to Lobito Corridor Development in Angola 2 Transport and Logistics Mining in DRC Mining in Zambia 

European Union Reaffirms Commitment to Lobito Corridor Development in Angola

Constance
In a recent meeting held in Luanda, the European Union (EU) reiterated its dedication to financing ongoing feasibility studies and professional training initiatives aimed at enhancing productivity and profitability within the Lobito Corridor. The assurance came during discussions between European Commissioner Jutta Urpilainen and Angolan Minister of Transport, Ricardo Viegas D’Abreu. The primary focus of this meeting was to underscore the EU’s unwavering support for the development of the Lobito Corridor. Through its Global Gateway Strategy initiative, the EU has already allocated three million euros for feasibility studies aimed at… Read More Here
CAMI and DGRAD Launch Surface Rights Collection Campaign for 2024 3 Mining in DRC 

CAMI and DGRAD Launch Surface Rights Collection Campaign for 2024

Constance
The Mining Cadastre (CAMI) and the General Directorate of Administrative, Judicial, State and Participation Revenue (DGRAD) have initiated the annual campaign to collect surface rights for the 2024 financial year. These rights serve as CAMI’s primary source of income, particularly following the implementation of the 2018 code, which granted financial autonomy to the public establishment. A portion of these funds is allocated to the DGRAD, highlighting the significance of surface rights collection in upholding the requirements of the mining code. According to a joint statement from CAMI and DGRAD, failure… Read More Here
Buenassa Secures $3.5M Grant for Sustainable Metal Refinery in DRC 4 Mining in DRC Battery Metals Cobalt Copper 

Buenassa Secures $3.5M Grant for Sustainable Metal Refinery in DRC

Constance
Buenassa, a pioneering company in the metal processing and trading sector, has reached a significant milestone with the award of a $3.5 million grant from the Democratic Republic of the Congo (DRC) Government through the Fonds de Promotion de l’Industrie (FPI). This grant marks the initial tranche of funding for Buenassa’s ambitious Project Preparation Facility, paving the way for an innovative copper and cobalt refinery project in the province of Lualaba. The venture represents not only a leap forward in industrial development but also a commitment to sustainable practices and… Read More Here
Controversy Erupts as European Union Signs MOU with Rwanda 5 Mining in DRC 

Controversy Erupts as European Union Signs MOU with Rwanda

Constance
The European Union’s “Global Gateway” strategy took a controversial turn on Monday, February 19, 2024, as it signed a memorandum of understanding with Rwanda, eliciting a strong reaction from the NGO JUSTICIA Asbl. This organization, operating out of the Democratic Republic of Congo and dedicated to promoting human rights and sustainable development, voiced deep concern over the decision. JUSTICIA Asbl finds it perplexing that the European Union, which prides itself on being the guardian of universal values ​​such as peace, democracy, and human rights, would enter into such an agreement.… Read More Here

APCSC Launches Inspection for SICOMINES SA Post-Renegotiation

Constance
In fulfillment of its mission to steer, coordinate, and monitor collaboration agreements, notably the SINO-CONGOLESE contract, the Director General of the Agency for Steering, Coordination, and Monitoring of Collaboration Agreements with Private Partners (APCSC) announced a series of inspection missions within the mining company SICOMINES SA, on Friday, February 23, 2024. It is essential to emphasize that within the execution of the Collaboration Agreement between the Congolese Government and the Chinese Enterprise Group (GEC), the APCSC serves as the direct interface responsible for engaging in discussions and ensuring the smooth… Read More Here
Rwanda and Rio Tinto Strike Lithium Deal Despite DRC's Reserves 6 Mining in DRC Battery Metals Lithium 

Rwanda and Rio Tinto Strike Lithium Deal Despite DRC’s Reserves

Constance
The Democratic Republic of Congo (DRC) ranks seventh among the 23 countries worldwide with proven lithium reserves, yet neighboring Rwanda, devoid of such reserves, has struck a deal with mining giant Rio Tinto for lithium exploration and exploitation. This move underscores a troubling trend of exploitation of Congo’s natural resources, exacerbated by the recent agreement between the European Union (EU) and Rwanda to develop value chains for critical raw materials, including those historically pillaged by armed groups linked to Rwanda. The urgency for Congo to safeguard its territory and resources… Read More Here
President Tshisekedi Condemns Rwanda-EU Pact as Threat to DRC's Resources 7 Mining in DRC Governance 

President Tshisekedi Condemns Rwanda-EU Pact as Threat to DRC’s Resources

Constance
President Félix Tshisekedi of the Democratic Republic of Congo (DRC) has sharply criticized the recent memorandum of understanding between Rwanda and the European Union (EU) regarding sustainable value chains for critical raw materials. Speaking during a special press briefing aired live on the national channel, Rtnc, Tshisekedi labeled the agreement as a tasteless provocation. Tshisekedi argued that the pact would only serve to further exploit the DRC’s natural resources to the benefit of the Rwandan regime. He condemned the EU’s involvement, accusing it of indirectly supporting the illicit trade of… Read More Here
Tanzanian Parliamentary Committee Lauds Barrick’s Work at North Mara 8 Gold International Press Release 

Tanzanian Parliamentary Committee Lauds Barrick’s Work at North Mara

Constance
 Tanzania’s Parliamentary Standing Committee for Energy and Minerals has commended Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) for the significant turnaround at the North Mara gold mine and its improved relations with the community. Members of Parliament recently visited the mine along with the Deputy Minister of Minerals, Ministry officials, the Regional Commissioner, District Commissioner, ward councilors and village leaders. The delegation was shown the mine’s water treatment plant, tailings storage facility, the Nyabigena and Gokona open pits and a number of Barrick’s community development projects such as Matongo’s agribusiness initiative and secondary… Read More Here
MUZ Urges Accelerated Formalization of Illegal Mining Operations in Zambia 9 Mining in Zambia Artisanal mining 

MUZ Urges Accelerated Formalization of Illegal Mining Operations in Zambia

Constance
The Mine Workers Union of Zambia (MUZ) has issued a compelling call to the government to accelerate the formalization process of illegal mining operations. MUZ President, Joseph Chewe, emphasized that expediting this process is essential to mitigate the occurrences of fatalities during mining activities. Chewe underscored the importance of refraining from demonizing illegal miners but rather integrating them into the formal sector, thereby enabling them to contribute positively to national development efforts. He emphasized that formalization would not only enhance safety standards but also facilitate government oversight through the deployment… Read More Here

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