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KCM to Invest $700 Million in Boosting Copper Production 1 Mining in Zambia Copper Economy 

KCM to Invest $700 Million in Boosting Copper Production

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Konkola Copper Mines (KCM) has announced a $700 million investment over the next five years to unlock the full potential of its operations in Chililabombwe, Zambia. KCM Chief Operating Officer Malcolm Mewett revealed that this investment constitutes a significant portion of the $1 billion pledged by Vedanta Resources Limited for KCM’s growth. He emphasized that the funds will primarily focus on underground developments at the Konkola Mine, enabling the extraction of vast copper reserves and significantly increasing production. “This investment will help the mine achieve its target of producing 300,000… Read More Here
Zambia Hosts Timbuktoo Mine Technology Hub to Transform Africa’s Mining Industry 2 Mining in Zambia Mining technology 

Zambia Hosts Timbuktoo Mine Technology Hub to Transform Africa’s Mining Industry

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Africa’s mining sector is poised for significant transformation with the launch of the Timbuktoo Mine Technology Hub, supported by the United Nations Development Programme (UNDP). The hub, inaugurated at the National Institute for Scientific and Industrial Research (NISIR) in Lusaka, Zambia, aims to drive technological innovation, foster creativity, and support startups across the continent. Technology and Science Minister Felix Chipota Mutati, speaking on behalf of President Hakainde Hichilema, praised the UNDP’s decision to establish this Pan-African innovation hub in Zambia. Mutati emphasized its alignment with Zambia’s goal of producing three… Read More Here
EquityBCDC Leads $282 Million Syndication to Support DRC’s Oil Sector 3 Mining in DRC Oil & Gas Petroleum 

EquityBCDC Leads $282 Million Syndication to Support DRC’s Oil Sector

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EquityBCDC has announced the second drawdown of $282 million from its landmark syndication with FirstBank DRC SA, Ecobank RDC, and Standard Bank. This initiative, in collaboration with the Congolese government, aims to finance the country’s oil debt and ensure stability in the distribution of petroleum products nationwide. Of the total drawdown, EquityBCDC contributed $156 million, building on the success of the initial $123.5 million drawdown. The effective management of the first tranche has bolstered confidence in this second phase, which is designed to support oil companies and mitigate any potential… Read More Here
DRC Orders Audits of Perenco’s Oil Operations and Environmental Impact 4 Mining in DRC Oil & Gas Petroleum 

DRC Orders Audits of Perenco’s Oil Operations and Environmental Impact

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The Democratic Republic of Congo (DRC) has initiated two comprehensive audits of Perenco, the sole producer of oil in the country, based in the Kongo Central province. The audits aim to examine the company’s production activities and environmental practices. The Ministry of Hydrocarbons has tasked Alex Stewart International (ASI), a Liverpool-based auditing firm known for its rigorous reviews, with assessing Perenco’s technical and operational activities. ASI will focus on clarifying the management of Perenco’s mature onshore and offshore oil fields. In parallel, Environmental Resources Management (ERM), a specialist consultancy, has… Read More Here
DRC Advances Energy Sector with Inga II and Renewable Projects 5 Mining in DRC Hydro power plant 

DRC Advances Energy Sector with Inga II and Renewable Projects

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The Democratic Republic of Congo (DRC) is taking significant steps to enhance its energy sector, with the G25 group of the Inga II Hydroelectric Power Plant set to produce an additional 1.2 million megawatt hours upon its rehabilitation. This development was highlighted by President Félix Tshisekedi during his December 11, 2024, State of the Nation address to Parliament. President Tshisekedi emphasized the centrality of energy to the country’s socio-economic transformation, stating, “Sustainable economic growth requires reliable, affordable, and sustainable access to energy. It drives raw material transformation, technological innovation, and… Read More Here
DRC Senate Approves Ratification of Lobito Corridor Agreement 6 Mining in DRC Angola Governance Mining in Zambia Transport and Logistics 

DRC Senate Approves Ratification of Lobito Corridor Agreement

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The Senate of the Democratic Republic of Congo (DRC) ratified the agreement establishing the Lobito Corridor Transit Transport Facilitation Agency (AFTTCL) during a plenary session on December 2, 2024. The agreement, signed on January 27, 2023, in Lobito, Angola, involves a partnership between the DRC, Angola, and Zambia. The bill, first presented to the Senate on November 22, 2024, was referred to the “External Relations” Committee for detailed review. The committee, led by Senator Lutundula Apala Pen Apala, recommended ratification, emphasizing the corridor’s strategic importance to the DRC’s economy and… Read More Here
DRC Govt Takes Charge of Kamoa Mining Product Sales 7 Mining in DRC Cobalt Copper Economy 

DRC Govt Takes Charge of Kamoa Mining Product Sales

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The Government of the Democratic Republic of Congo (DRC) has announced its direct involvement in the sale of mining products from Kamoa, a company in which the State holds a 20% stake. This move aims to better secure national economic interests within the crucial mining sector. Kamoa’s turnover is projected to reach $3 billion, and as part of this new strategy, the Government, through the Minister of the Portfolio, will oversee the pricing and sale of mining products. Minister Jean-Lucien Bussa made this announcement during the Estates General of the… Read More Here
Miguel Kashal Highlights DRC’s Value Chain Potential at Global Citizen Forum 8 Mining in DRC Events & Expos 

Miguel Kashal Highlights DRC’s Value Chain Potential at Global Citizen Forum

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The Director General of the Regulatory Authority for Subcontracting in the Private Sector (ARSP), Miguel Kashal, led a high-level Congolese delegation at the Global Citizen Forum, held from December 4–5, 2024, in the United Arab Emirates. The fourth edition of the forum, themed “The Future of Wealth,” gathered prominent business leaders from across the globe. As a panelist, Kashal highlighted the Democratic Republic of Congo’s (DRC) investment potential and its commitment to fostering local content development. He emphasized the vision of President Félix Tshisekedi to empower the middle class and… Read More Here
Zambia’s Power Utility Seeks Solution to $80M Payment Error in China Debt Talks 9 Mining in Zambia Electricity 

Zambia’s Power Utility Seeks Solution to $80M Payment Error in China Debt Talks

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Zambia is working to address an $80 million payment mistakenly transferred by its state power utility, ZESCO, to China while finalizing its long-standing debt restructuring deal with the nation, according to Treasury Secretary Felix Nkulukusa. The funds, accumulated in a securitized account from electricity sales tied to a power plant built and financed by Chinese companies, were “unfortunately” transferred, Nkulukusa explained in an interview on Sunday in Lusaka. This payment issue underscores the complexities of Zambia’s debt restructuring process, which began in 2020 when it became the first African nation… Read More Here
AfDB Approves $108 Million Loan to Boost Zambia’s Economic Reforms 10 Mining in Zambia Economy 

AfDB Approves $108 Million Loan to Boost Zambia’s Economic Reforms

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The African Development Bank (AfDB) Group has approved a $108 million loan to Zambia to enhance economic governance and implement critical public sector reforms. This new funding increases the AfDB’s active portfolio in Zambia to $872.3 million, comprising 24 projects as of November 30, 2024. The loan will finance the Fiscal Sustainability and Economic Resilience Support Programme, a key initiative aimed at fostering a resilient and diversified Zambian economy. The AfDB Group Board of Directors announced the approval in a statement issued in Lusaka. Raubil Durowoju, the AfDB’s Country Manager… Read More Here

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