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DRC: Jules Alingete and Likasi Mayor Explore Mining Royalty Allocation 1 Mining in DRC Mining revenue 

DRC: Jules Alingete and Likasi Mayor Explore Mining Royalty Allocation

Constance
The Head of the Department at the General Inspectorate of Finance (IGF), Jules Alingete, held a discussion on Thursday, September 7, 2023, with Olivier Munongo, the Mayor of Likasi commune in Haut-Katanga, DRC. The meeting centered around Munongo’s request for assistance from the IGF regarding the retrocession of mining royalties through the Shituru commune. Munongo explained the purpose of his mission to Kinshasa, stating, “I came to meet the General Inspector of Finances, the Head of the Department, to address the issue affecting my commune and Shituru in Likasi, Haut-Katanga.… Read More Here
DRC Signs 'Production Sharing' Agreement for Lake Kivu Gas Blocks 2 Mining in DRC Oil & Gas Partnership 

DRC Signs ‘Production Sharing’ Agreement for Lake Kivu Gas Blocks

Constance
The government represented by the Ministers of Hydrocarbons Didier Budimbu, that of Finance Nicolas Kazadi and the companies (Winds Exploration and Production and Alfajiri Energy) signed on Saturday September 9, 2023 in Kinshasa, the “production sharing” contract for the exploitation of two gas blocks from Lake Kivu open to exploration and production in the DRC.  A procedure which respected the rules was unanimously testified by the two companies concerned alongside the Société Nationale des Hydrocarbures (SONAHYDROC SA) representing the Congolese State and which will have an exclusive 20% of the… Read More Here
DRC: Gold Surges to $62.96 per Gram During the Week of September 11-16, 2023 3 Mining in DRC Gold 

DRC: Gold Surges to $62.96 per Gram During the Week of September 11-16, 2023

Constance
The general trend is upwards in the main mining export products of the Democratic Republic of Congo on the international market in this week from September 11 to 16, 2023, according to forecasts by experts from the National Mercuriales Commission of the Ministry of Commerce outside. Gold is showing an upward trend this week and is trading around USD 62.96 per gram against USD 62.19 per gram the previous week, an increase of USD 0.77. Likewise, copper is also this week at 8,419 USD per tonne against 8,377 USD per… Read More Here
Glencore Strikes Strategic Agreement with Tantalex 4 Mining in DRC Battery Metals Cobalt Lithium Partnership 

Glencore Strikes Strategic Agreement with Tantalex

Constance
The Canadian company Tantalex Lithium Resources operating in the Democratic Republic of Congo (DRC) and Glencore concluded a memorandum of understanding at the end of last week according to which Glencore will have to partly finance the development of its lithium residue project in Manono. Under the terms of the memorandum of understanding, Glencore must obtain, in exchange for financing, the right to purchase and market the lithium that will be produced at Manono.  And the funding itself will be divided into three tranches. A first of 2 million USD and… Read More Here
DRC's Prime Minister Emphasizes Need for Gold Traceability Measures 5 Mining in DRC Artisanal mining Economy 

DRC’s Prime Minister Emphasizes Need for Gold Traceability Measures

Constance
The Prime Minister of the Congolese Government, Jean-Michel Sama Lukonde, insisted on the establishment of gold traceability mechanisms to put an end to illicit trafficking.  He spoke on Tuesday, September 12, 2023, in Kinshasa, at the opening of the ICGLR Regional Forum on artisanal gold mining. “The traceability of gold has thus become a crucial issue in the region, leading many countries and national and international organizations to engage in the establishment of traceability mechanisms for gold from the Great Lakes.  This will make it possible to eliminate harmful practices… Read More Here
The African Union to Establish Its Own Credit Rating Agency by 2024 6 Economy International 

The African Union to Establish Its Own Credit Rating Agency by 2024

Constance
The African Union aspires to create its own financial rating agency with the ultimate objective of responding to the major concerns of African countries after several sometimes arbitrary evaluations of the three international financial rating agencies, in this case: Moody’s, Fitch and S&P Global Ratings. The announcement was made on Tuesday September 12, 2023 by the main expert on financial rating agencies at the African Union, Misheck Mutize, quoted by the Reuters agency. “The agency, which will develop its own risk assessment of loans to African countries, will be based… Read More Here
Zambia's President Champions Electric Vehicles for a Cleaner Future 7 Mining in Zambia Battery Metals 

Zambia’s President Champions Electric Vehicles for a Cleaner Future

Constance
Zambia’s President Hakainde Hichilema has emphasized the pivotal role of electric motor vehicles in addressing environmental challenges linked to traditional gasoline and diesel vehicles. He underscores the importance of their continued development and adoption in achieving a sustainable and cleaner future for transportation. During his visit to BYD, one of the world’s largest electric motor vehicle manufacturing plants in Shenzhen, China, President Hichilema expressed Zambia’s commitment to collaborating with companies that can advance the Electric Vehicle (EV) sector within the country. BYD Chairman and President Wang Chuanfu affirmed his company’s… Read More Here
United States Commits $1 Billion Investment to Enhance Lobito Corridor Development 8 Angola Mining in DRC Mining in Zambia Transport and Logistics 

United States Commits $1 Billion Investment to Enhance Lobito Corridor Development

Constance
The United States of America (USA) has reaffirmed its commitment to invest a substantial one billion dollars in accelerating the development of the Lobito Corridor. This significant announcement follows President Joe Biden’s declaration, made in collaboration with European Union leader Von der Leyen during the recent G20 meeting. Helaina R. Matza, the Acting Special Coordinator of the Partnership for Global Infrastructure Investment (PIGI) within the US Department of State, expressed her strong optimism regarding the governments’ dedication to realizing this initiative. Speaking during a videoconference with journalists from Angola, Zambia,… Read More Here
Bell ADT International Mining Equipment 

Bell Equipment to Unveil Bell Heavy Industries (BHI) at Mining Indaba 2024

Constance
Bell Equipment is set to launch a new business, called Bell Heavy Industries (BHI), at the Mining Indaba in February next year. BHI will be an arm of Bell Equipment Company South Africa, which is 51% black-owned, says Bell Equipment CEO Leon Goosen.Bell is a global manufacturer, distributor and exporter of a range of heavy equipment for the construction, mining, quarrying, sugar and forestry industries. BHI will operate from Bell’s plant in Richards Bay, KwaZulu-Natal, which is currently seeing a shift in articulated dump truck (ADT) production to Germany, in… Read More Here
Barrick Ceases to be an Insider of Cascadia Minerals 9 International Gold 

Barrick Ceases to be an Insider of Cascadia Minerals

Constance
 Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX) (“Barrick”) has announced that following the August 24, 2023 closing of a private placement of units (the “Private Placement”) by Cascadia Minerals Ltd. (“Cascadia”), Barrick’s 2,788,696 common shares of Cascadia represent approximately 7.6% of Cascadia’s outstanding common shares. Barrick did not acquire any securities in the Private Placement and, as a result of the Private Placement, Barrick has ceased to be an insider of Cascadia pursuant to Canadian securities laws. Barrick is holding its Cascadia common shares for investment purposes. Depending on market conditions and… Read More Here

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