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FQM Reaches Salary Agreements with Union Amid Mine Access Protests 1 International Copper 

FQM Reaches Salary Agreements with Union Amid Mine Access Protests

Constance
The union for Canadian miner First Quantum’s unit in Panama said on Thursday that it reached an agreement with the company to guarantee salaries as protests and blockades against the miner prevent them from working. Protests have raged for weeks against First Quantum’s contract for a $10 billion copper mine, with some protests blocking access to the mine. The blockades “put at risk the daily bread of some 7,000 workers who are also Panamanians who have not been able to return to our posts to make a living in a… Read More Here
Barrick Announces Additional Investment in Hercules Silver 2 International Gold 

Barrick Announces Additional Investment in Hercules Silver

Constance
Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) (“Barrick”) announced that on November 10, 2023, it purchased 7,000,000 warrants to purchase common shares of Hercules Silver Corp. (“Hercules”) for total consideration of C$6,580,000. The warrants were immediately exercised at their exercise price of C$0.11 per Hercules common share. Prior to its acquisition and exercise of the warrants, Barrick owned 26,556,870 common shares of Hercules and 6,804,918 warrants, representing approximately 12.33% of the outstanding Hercules common shares on a non-diluted basis, and 15.02% on a partially-diluted basis. Barrick now owns 33,556,870 common shares and 6,804,918… Read More Here
Gécamines Mining in DRC 

Gécamines’ $10 Million Investigation Sparks Public Outcry and Protests

Constance
Following revelations of embezzlement exceeding $10 million within Gécamines, the General Inspectorate of Finance (IGF) has concluded its investigation. The findings shed light on the opaque distribution of funds among Gécamines’ Board of Directors, sparking public outrage and demonstrations in Greater Katanga, particularly in Lubumbashi. Amidst mounting pressure, Minister of State and Portfolio Minister faces the responsibility of addressing the disbursement of millions among Gécamines’ directors, neglecting urgent needs within the mining sector. Close sources revealed the IGF’s investigation exposed the lack of transparency in misappropriating funds, diverting resources from… Read More Here
Sabwe Mining company placed under the control of ARSP inspectors 3 Mining in DRC Governance 

Sabwe Mining company placed under the control of ARSP inspectors

Constance
After monitoring compliance with the regulations on subcontracting in mining companies in the province of Lualaba, inspectors from the regulatory authority for subcontracting in the private sector (ARSP), led by its general director Miguel Kashal, launched control activities in companies in the Haut-Katanga province. Miguel Kashal recommended that Sabwe Mining officials work in collaboration with ARSP OPJs so that entrepreneurs are included in the database and have access to markets. “The Head of State wants to write a new page in the economic history of our country. The fight has… Read More Here
AVZ Minerals Secures Strategic Funding Pact to Resolve Legal Battles 4 Mining in DRC Battery Metals Lithium 

AVZ Minerals Secures Strategic Funding Pact to Resolve Legal Battles

Constance
In a strategic move, AVZ Minerals, an Australian company, has inked a significant binding term sheet with Locke Capital, a global litigation funder. The deal, valued at $20 million, aims to address corporate, legal, and project expenses while resolving multifaceted litigation surrounding the Manono lithium and tin mine in the Democratic Republic of Congo (DRC). The funds will play a pivotal role in managing several arbitration cases at the International Chamber of Commerce (ICC) in Paris, primarily revolving around the Manono lithium permits. Notably, AVZ has secured emergency relief orders… Read More Here
World Bank Collaborates with Benguela Railways on Lobito Corridor Implementation 5 Angola Partnership Transport and Logistics 

World Bank Collaborates with Benguela Railways on Lobito Corridor Implementation

Constance
A team from the World Bank partnered with Benguela Railways’ leadership to understand the Lobito Corridor’s implementation process. During the engagement, Mosheta Lukombo, the administrator overseeing Administration and Finance at CFB, elucidated that the Lobito Atlantic Railway consortium, managing the Lobito Corridor, plays a vital role in regional integration, infrastructure enhancement, and facilitating the transportation of large goods. The World Bank delegation visited the Lobito Atlantic Railway consortium’s workshops within the public company, including the operations control center. They assessed the preparedness of the equipment essential to support train circulation… Read More Here
Resolution Reached in DRC Truckers' Strike Affecting Copper and Cobalt Exports 6 Mining in Zambia Cobalt Copper Mining in DRC Transport and Logistics 

Resolution Reached in DRC Truckers’ Strike Affecting Copper and Cobalt Exports

Constance
A recent truckers’ strike in the Democratic Republic of Congo, which disrupted copper and cobalt exports, has been successfully resolved, according to sources familiar with the situation. The strike, initiated by drivers in Kolwezi at the end of October, primarily centered around demands for increased danger pay for transporting green-energy metals. This standoff posed a threat to major mining companies such as Glencore Plc, CMOC Group Ltd., and Ivanhoe Mines Ltd., all of which operate significant mines in the region. As the world’s leading cobalt producer and a major copper… Read More Here
ARSP Takes Control of METALKOL Mining Company to Ensure Subcontracting Compliance 7 Mining in DRC Governance 

ARSP Takes Control of METALKOL Mining Company to Ensure Subcontracting Compliance

Constance
The METALKOL mining company is now under the oversight of inspectors from the Regulatory Authority for Subcontracting in the Private Sector (ARSP). This decision was made by the Director General of ARSP, Miguel Kashal Katemb, following an inspection of the facilities and discussions with on-site officials. During a working session, the Director General of ARSP elaborated on President Félix Tshisekedi’s vision regarding subcontracting. He emphasized the significant progress made in facilitating access to markets compared to the past, attributing it to the President’s commitment to addressing subcontracting challenges. As part… Read More Here
Some Stakeholders Applaud Zambia's Govt's Decision to Halt Lower Zambezi Mining operations 8 Mining in Zambia Environment Social Governance (ESG) 

Some Stakeholders Applaud Zambia’s Govt’s Decision to Halt Lower Zambezi Mining operations

Constance
Various stakeholders, including environmental defenders, activists, and civil society organizations, have commended the government’s decision to cancel mining operations in the Lower Zambezi National Park. The cancellation, specifically for Mwembeshi Resources Limited, is seen as setting a crucial precedent for the responsible exploration of mineral resources in Zambia. In a collective statement addressed to the National broadcaster ZNBC News, the stakeholders emphasized the non-political nature of the decision to revoke environmental permission for mining. They not only recommended a full withdrawal of the mining license issued by the Ministry of… Read More Here
DRC Mining Experts Seek Innovative Solutions for Sector Challenges 9 Mining in DRC Events & Expos 

DRC Mining Experts Seek Innovative Solutions for Sector Challenges

Constance
The Presidential Council for Awareness of Strategies (CPVS) initiated the second edition of the National Framework for consultation among stakeholders in the mining sector of the Democratic Republic of Congo (DRC) on Monday, November 13, 2023. The overarching theme of these meetings is “Exploring Innovative Solutions to Effectively Address Challenges in the DRC’s Mining Sector.” The primary objective is to devise strategies for enhancing the governance of the mining sector in the country. Deputy Minister of Mines, Godard Motema, commended the initiative, emphasizing its goal of generating reflections for the… Read More Here

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