Constance - Copperbelt Katanga Mining

Written by Constance

DRC signs Framework for pre-feasibility study of economic zone for Batteries and EVs

March 30, 2023March 30, 2023 Constance

Will the DRC manage to set up its ambitious project to produce batteries and electric vehicles? Yes, we answer in the government. Prime Minister Sama Lukonde chaired this Monday, March 27, 2023 in Kinshasa the signing ceremony of the framework agreement relating to the creation of a special economic zone (SEZ) dedicated to this project. The stakeholders in this project are the DRC, Zambia, whose Minister of Industry came from Kinshasa, the United Nations Economic Commission for Africa and Afreximbank. The signed framework agreement aims to pave the way for a pre-feasibility… Read More Here

Diamond Mining in DRC

DRC Minister of Mines opens the work of the 40th World Diamond Congress in Tel Aviv

March 30, 2023March 30, 2023 Constance

The Congolese Minister of Mines, Antoinette N’Samba Kalambayi, gave the go to the activities of the 40th World Diamond Congress in Israel whose exchanges began on March 28 in Tel Aviv, Israel. The Israel Diamond Exchange conference room of the Tel Aviv Diamond Exchange served as the setting for the organization of this ceremony. Antoinette N’samba Kalambayi, Minister of Mines of the Democratic Republic of Congo (DRC) therefore had the honor of launching these activities in the presence of the President and Vice-President of the Israel Diamond Bourse. A few… Read More Here

Mining in DRC

DRC GOVT Accuses Chinese contract and local Officials of overcharging for Infrastructure work

March 30, 2023March 30, 2023 Constance

The over-invoicing of infrastructure works noted in the agreement signed in 2008 between the Government of the Democratic Republic of Congo (DRC) and the group of Chinese companies formed by China Airways Corporation and Synohydro would be the work of Congolese officials. According to sources close to the case, the leaders of the Congolese Agency for Major Works (ACGT) and Moïse Ekanga, former official responsible for coordinating and monitoring the famous “mines against infrastructure” contract are indexed in this case. In addition, Chinese companies accepted the revision of the Convention… Read More Here

Mining in Zambia

Kagem delivers USD 5M Dividend to the IDC

March 30, 2023March 30, 2023 Constance

Kagem Mining Limited has delivered a USD 5 million dividend to the Zambian government’s Industrial Development Corporation (IDC) Limited, which owns 25% of the emerald mining company in Lufwanyama. Kagem delivers the dividend for the second consecutive year, which are the first dividends delivered since 2016. This dividend is in addition to the USD 11.5 million mineral royalty tax paid on the sale of emeralds at auction during 2022 and the USD 13.3 million corporation tax payable for the year ended 31 December 2022. “Kagem’s Zambian emeralds continue to attract… Read More Here

Battery Metals Cobalt Copper International

Value of Battery metals in newly-sold EVs tripled on rampant lithium, nickel prices

March 29, 2023March 29, 2023 Constance

The EV Metal Index, which tracks the value of battery metals in newly registered passenger EVs (including full battery, plug-in and conventional hybrids) around the world, totalled $26.9 billion in 2022, an increase of 232% compared to the prior year. That figure means as much EV battery metal business was done in 2022 than the combined total of the preceding five years. And that came despite pandemic lockdowns for most of the year in the world’s largest EV market and turmoil in Europe, the world’s no. 2 electric car market,… Read More Here

International

Majority of Mining projects in Bengo, Angola, Currently at a standstill

March 29, 2023March 29, 2023 Constance

The deputy governor for the Technical and Infrastructure sector of Bengo, Edson Cruz, said Wednesday 22nd March in Caxito that, since 2022, a total of 38 mineral exploration companies have been registered in the province, of which only 19 are are in full operation. He added that, in 2022, a volume of 837,086 cubic meters of minerals was produced, which allowed the collection of a total of 72,609 million kwanzas. He also referred that, considering the socio-economic activity of Bengo province to be, essentially, agricultural, the local Government sees with… Read More Here

Copper Mining in Zambia

BANKERS UPBEAT ON FQM INVESTMENT PLANS

March 27, 2023March 27, 2023 Constance

First Quantum Minerals’ investments and expansion projects in Zambia have drawn the interest of financiers in the region who recently toured its mine sites in Kalumbila and Solwezi to familiarize themselves with its operations. The visit showcased the economic significance of the investments to the country’s industrialization and diversification agenda within the mining sector and beyond. Representatives from Stanbic Bank, Rand Merchant Bank, Absa Bank and Nedbank relayed their optimistic outlook of country’s mining landscape that followed as a result of government’s policy and investment pronouncements made over the last two years… Read More Here

Mining in DRC Mining Equipment

Epiroc wins large order for Mining Equipment in DRC

March 27, 2023March 27, 2023 Constance

JCHX, a mining contractor, has ordered several Epiroc loaders, mine trucks and drill rigs, including service support, for use at the Kipushi zinc, copper, germanium and silver mine in the Haut-Katanga province in southern Democratic Republic of the Congo. After decades of production the mine closed for care and maintenance in 1994. Construction started last year to re-open the mine, with late 2024 as target to start production. The equipment order is valued at about MUSD 17 (MSEK 175) and was booked in the first quarter 2023. “We look forward… Read More Here

Gold Mining in DRC

Pioneering Kibali Plans Further Partner-Based Development

March 26, 2023March 26, 2023 Constance

Since Kibali went into production 10 years ago it has not only grown into Africa’s largest gold mine, it has also opened a new mining frontier in the DRC and stimulated the development of a thriving regional economy in the country’s North-East province, says Mark Bristow, Barrick president and chief executive. Speaking at a media visit to Kibali yesterday 26th March, Bristow said the mutually beneficial partnership between the company and its local stakeholders, notably the government, contractors, service providers, employees and the community, had demonstrated that it was possible… Read More Here

Copper International

Copper Prices could soar 33% in the next year due to low global Inventories

March 26, 2023March 26, 2023 Constance

Copper prices could spike over the coming year as growing demand from China puts stress on already-thin inventories, according to top metal trader Trafigura. The economic-bellwether commodity currently trades at around $9,000 per metric ton and will likely top the record of $10,845 to potentially go as high as $12,000, said Kostas Bintas, co-head of metals and minerals at Trafigura, at the FT Commodity Global Summit. “I think it’s very likely in the next 12 months that we will see a new high,” he said, according to the Financial Times. “What’s… Read More Here