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DRC falls out with the World Bank at the cost of $1 billion 1 Mining in DRC Economy 

DRC falls out with the World Bank at the cost of $1 billion

Constance
The World Bank has halted funding for more than $1 billion in humanitarian and development projects in the Democratic Republic of Congo after the government abruptly liquidated the project fund. As part of the $1.04 billion total, $91 million had already been granted for the projects, according to the letter, but the bank was still awaiting paperwork on their progress. According to his statement, the change was attributed to “the evolving legal framework governing public institutions.” Albert Zeufack, the head of operations for the World Bank in the country, mentioned… Read More Here
DRC's President Urges Stronger Tax Control to Boost Revenue 2 Mining in DRC Economy Taxes 

DRC’s President Urges Stronger Tax Control to Boost Revenue

Constance
During the ninety-ninth meeting of the Council of Ministers held on Friday, May 19, 2023 in Kinshasa, the President of the Democratic Republic of Congo (DRC), Félix Tshisekedi, instructed the Congolese Government to strengthen tax control, with assistance from the General Inspectorate of Finance (IGF), to increase public revenue during this fiscal year. President Tshisekedi has asked all members of the Government to spare no effort to take the necessary measures likely to increase revenue mobilization for the current financial year. According to information from the Minister of Communication and… Read More Here
Central Province Minister Highlights Importance of Zambia Railways Limited 3 Mining in Zambia Transport and Logistics 

Central Province Minister Highlights Importance of Zambia Railways Limited

Constance
Central Province Minister, Credo Nanjuwa, emphasized the significance of Zambia Railways Limited (ZRL) for Kabwe and the entire province, citing its role in sustaining the region when the mining industry collapsed in the 1990s. During a courtesy call from the Parliamentary Committee on Parastatal Companies, Mr Nanjuwa expressed gratitude for their visit and highlighted the critical importance of ZRL. Concerning ZRL, the minister also raised the issue of the prolonged tenure of the acting Managing Director, stating the provincial administration’s apprehension about the matter. Additionally, he acknowledged the lasting impact… Read More Here
DRC ranks first Producer of Cobalt with 73% of the total supply in 2022 4 Mining in DRC Cobalt 

DRC ranks first Producer of Cobalt with 73% of the total supply in 2022

Constance
The Democratic Republic of Congo (DRC) ranks first in the ranking of cobalt-producing countries in Africa, according to a study by the Cobalt Institute. The source informs that the country produced more than 70% of the total supply in 2022, thus dominating the world production of cobalt. The document informs that the DRC is not the only African country included in the ranking. Madagascar remained Africa’s second largest producer last year, overtaking Morocco, which is home to the continent’s only mine producing only cobalt. The African top 5 is completed… Read More Here
DRC to Initiate Discussions on Chinese Contract Rebalancing 5 Mining in DRC 

DRC to Initiate Discussions on Chinese Contract Rebalancing

Constance
The Congolese Government is set to launch discussions on the rebalancing of the 2007 Cooperation Agreement between the Democratic Republic of Congo (DRC) and Chinese companies. During a recent Council of Ministers meeting, the President of the Republic announced the availability of conclusions on the draft rebalancing, enabling talks with Chinese partners in the coming days. The objective of the DRC is to strengthen and expand Sino-Congolese cooperation based on principles of mutual respect, fairness, and transparency, benefiting both nations. To ensure a truly win-win outcome, the President has instructed… Read More Here
Mining Expert Urges President HH to Prioritize Revamping Mopani and KCM 6 Mining in Zambia Copper Economy 

Mining Expert Urges President HH to Prioritize Revamping Mopani and KCM

Constance
Stakeholders in Zambia’s mining sector have expressed disappointment with President Hakainde Hichilema’s recent press briefing, stating that it lacked substantial updates on Mopani Copper Mines (MCM), Konkola Copper Mines (KCM), and the overall mining sector. A mining expert emphasizes the need for focused attention on Mopani and KCM, highlighting their significance in the country’s economic recovery. During the press briefing at state house, President Hichilema acknowledges that the government has yet to resolve the issues surrounding Mopani and KCM but assures that actions are being taken to address the situation.… Read More Here
US Investment Drives Economic Growth in Lobito Corridor Rail Line 7 Economy Mining in Zambia Transport and Logistics 

US Investment Drives Economic Growth in Lobito Corridor Rail Line

Constance
The United States of America’s investment in the Lobito Corridor rail line has received accolades from Hon. Museba Frank Tayali, the Minister of Transport and Logistics in Zambia. The announcement was made by President Joe Biden during the Partnership for Global Infrastructure and Investment (PGII) Meeting held in Hiroshima, Japan. President Biden unveiled that the United States has already mobilized over $30 billion in investments and is committed to furthering its efforts. This declaration has been warmly welcomed by the Zambian government, particularly the New Dawn Administration, as it aligns… Read More Here
UNDP Botswana Collaborates with Kansanshi Mining Plc to Boost Local Business Development 8 Mining in Zambia Corporate News 

UNDP Botswana Collaborates with Kansanshi Mining Plc to Boost Local Business Development

Constance
The United Nations Development Programme (UNDP) Botswana recently visited Kansanshi Mining Plc as part of an exchange program focused on Local Business Supplier Development. Facilitated by the Zambia Chamber of Mines and UNDP Zambia, the visit aimed to enhance understanding of Zambia’s mining industry and key interventions for promoting local business development. Led by UNDP Zambia Economic Advisor Domingos Mazivila, the delegation, received by Kansanshi Mining Plc’s Corporate Affairs Manager Kyansenga Chitoshi, toured the mine site and explored the company’s Corporate Social Responsibility (CSR) initiatives at the Kansanshi Community Centre.… Read More Here
China Commits to Finding Better Solution for Zambia's Debt Issues 9 Mining in Zambia Economy News in Brief 

China Commits to Finding Better Solution for Zambia’s Debt Issues

Constance
China’s foreign ministry expressed its commitment to addressing Zambia’s debt issues, emphasizing its longstanding dedication to the matter. Wang Wenbin, spokesperson for the ministry, confirmed during a routine press briefing that China will collaborate with Zambia in finding an improved solution. The statement comes in response to Zambian President Hakainde Hichilema’s expressed desire to meet with President Xi Jinping, seeking assistance in restructuring Zambia’s debt. Read More Here
FQM CONTRIBUTES 61% OF GOVERNMENT’S MINING INCOME IN 2021 10 Mining in Zambia Economy Mining tax 

FQM CONTRIBUTES 61% OF GOVERNMENT’S MINING INCOME IN 2021

Constance
Zambia’s largest taxpayer, First Quantum Minerals (FQM), paid ZMW 20.4 billion in taxes and royalties to Government. This record sum amounts to 61% of the total amount – nearly ZMW 34 billion – received by the Zambian State from the entire mining industry that year. These figures have been disclosed as part of the independently audited Zambia Extractive Industries Transparency Initiative (ZEITI) 2021 annual report on tax payments and receipts that have been published today 20th May.  ZEITI is the national chapter of the Extractive Industries Transparency Initiative (EITI), the… Read More Here

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