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Chinese Nationals Sentenced to Prison and Fines for Illegal Mining and Money Laundering in DRC 1 Mining in DRC 

Chinese Nationals Sentenced to Prison and Fines for Illegal Mining and Money Laundering in DRC

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A Congolese court has sentenced three Chinese nationals to seven years in prison after they were arrested with gold bars and $400,000 in cash, found guilty of illegal activities linked to the country’s artisanal mining sector. This trial marks a significant step in the Democratic Republic of Congo’s ongoing efforts to combat unlicensed mineral extraction. The three men are the first Chinese nationals to stand trial since Congo intensified its crackdown on illegal mining in the resource-rich, conflict-stricken east. Christian Wanduma, a lawyer representing local communities, described the trial as… Read More Here
Political Authorities Accused of Coercive Mining Contracts in Lualaba and Haut-Katanga 2 Mining in DRC 

Political Authorities Accused of Coercive Mining Contracts in Lualaba and Haut-Katanga

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The Platform of Organizations for the Promotion and Defense of Economic, Social, and Cultural Rights in the Democratic Republic of Congo (DESC/DRC) has released a revealing investigation titled “Implementation of Transparency in the Management of Extractive Industries in a Politicized Sector.” The report highlights how influential political figures in the DRC exploit state mining assets, particularly through contracts awarded by Gécamines under questionable circumstances. Key Findings: The report also scrutinizes the Entreprise Générale de Cobalt (EGC), a subsidiary of Gécamines established in November 2019 to oversee the ethical purchase and… Read More Here
DRC Seeks Mining Partners to Diversify Away from Chinese Dominance 3 Mining in DRC Cobalt Copper 

DRC Seeks Mining Partners to Diversify Away from Chinese Dominance

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The Democratic Republic of Congo (DRC), the world’s top cobalt producer and a key source of copper and other critical minerals, is actively seeking new mining investors to diversify its partnerships and reduce heavy reliance on Chinese companies. This includes pursuing investments from Saudi Arabia, the European Union, and India, according to Marcellin Paluku, Deputy Cabinet Director in the Ministry of Mines. Chinese companies, many of them state-backed, have emerged as the largest investors in the DRC in recent years, significantly expanding their footprint in the country’s mining sector. CMOC… Read More Here
Felix Tshisekedi Contracts Mining in DRC Governance 

President Tshisekedi Pushes for Mineral Traceability to Curb Armed Group Funding in the DRC

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President Félix-Antoine Tshisekedi of the Democratic Republic of Congo (DRC) addressed ambassadors accredited to the country on Saturday, January 18, 2025, highlighting government initiatives to improve the traceability of “strategic” minerals from the eastern region. In his speech, President Tshisekedi underscored the importance of transparency and certification mechanisms aimed at ensuring Congolese natural resources truly benefit the nation. “In 2024, we intensified efforts to strengthen the traceability of our minerals with the support of international partners. We have also initiated discussions on implementing transparency and certification mechanisms to ensure our… Read More Here
IMF Approves $2.87 Billion Agreement with DRC for Economic Growth and Climate Resilience 4 Mining in DRC Economy 

IMF Approves $2.87 Billion Agreement with DRC for Economic Growth and Climate Resilience

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On January 15, 2025, the International Monetary Fund (IMF) Executive Board approved a new cooperation agreement with the Democratic Republic of Congo (DRC), encompassing two major programs worth $2.87 billion. The package includes a $1.77 billion Extended Credit Facility (ECF) and a $1.1 billion Climate Resilience Facility (CRF). Prime Minister Judith Suminwa Tuluka announced the agreement following an extraordinary Council of Ministers meeting chaired by President Félix-Antoine Tshisekedi. Minister of Communication and Media, Patrick Muyaya, confirmed that disbursements will occur in tranches, contingent on progress in implementing agreed economic reforms.… Read More Here
South Kivu’s Mineral Wealth Lost to Illicit Mining, Earning Under $1 Million Annually 5 Mining in DRC Artisanal mining Cobalt Copper Lithium 

South Kivu’s Mineral Wealth Lost to Illicit Mining, Earning Under $1 Million Annually

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South Kivu, a province rich in copper, cobalt, lithium, and other valuable minerals, generates less than $1 million annually due to widespread illicit mining activities. This stark contrast between the province’s mineral potential and its economic output was highlighted by Governor Jean-Jacques Purusi during a recent meeting with local stakeholders. Despite its mineral wealth, South Kivu remains one of the poorest regions in the Democratic Republic of Congo (DRC), a situation that Governor Purusi attributes to the illegal exploitation of its resources. “The mining sector does not even generate $1… Read More Here
DRC’s Economy Thrived in 2024 Amid Challenges, Records 6% GDP Growth 6 Mining in DRC Economy 

DRC’s Economy Thrived in 2024 Amid Challenges, Records 6% GDP Growth

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Despite persistent security challenges in the eastern regions, the Democratic Republic of Congo (DRC) achieved remarkable economic growth in 2024, with its real GDP growth rate estimated at 6.0%, according to the International Monetary Fund (IMF). This economic performance surpassed initial IMF projections of 4.7%, highlighting the country’s resilience in navigating economic and security challenges. Finance Minister Doudou Fwamba credited the growth to effective public financial management and the stabilization of the macroeconomic framework. “Prudent fiscal policies have laid the foundation for this exceptional growth,” he stated. The mining sector,… Read More Here
$700 Million Set for Phase One of Kinshasa-Brazzaville Bridge Project 7 Mining in DRC Infrastructural Development Transport and Logistics 

$700 Million Set for Phase One of Kinshasa-Brazzaville Bridge Project

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The total cost of the first phase of the Kinshasa-Brazzaville road-rail bridge construction project is estimated at $700 million. This figure was announced during a restitution meeting held on Wednesday, January 15, 2024, and chaired by Prime Minister Judith Suminwa. The meeting brought together delegations of experts from the Democratic Republic of Congo (DRC) and the Republic of Congo. DRC’s Minister of Infrastructure and Public Works, Alexis Gisaro, emphasized that this cost serves as a baseline, with the project expected to evolve over multiple phases. “Many other projects will be… Read More Here
Rwanda Announces First Oil Discovery in Lake Kivu 8 Oil & Gas International 

Rwanda Announces First Oil Discovery in Lake Kivu

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Rwanda has confirmed its first-ever oil discovery, identifying 13 reservoirs in Lake Kivu, which lies along its border with the Democratic Republic of Congo (DRC). “We have oil,” announced Francis Kamanzi, CEO of the Rwanda Mines, Petroleum, and Gas Board, during a parliamentary hearing, as reported by local media outlet Igihe. The discovery follows more than a decade of exploration efforts in the lake. Kamanzi expressed optimism about uncovering additional reserves, noting the significant oil deposits already identified in neighboring Uganda and the DRC within the Great Lakes region. Despite… Read More Here
FQM ANNOUNCES STRONG 2024 ZAMBIAN PRODUCTION RESULTS AND FOCUS ON SUSTAINABLE GROWTH 9 Mining in Zambia Copper Corporate News Gold Nickel 

FQM ANNOUNCES STRONG 2024 ZAMBIAN PRODUCTION RESULTS AND FOCUS ON SUSTAINABLE GROWTH

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First Quantum Minerals (FQM) has announced a strong performance from its Zambian operations in 2024, with strong copper, gold, and nickel production. The company also reaffirmed its focus on sustainability and operational resilience, with the S3 Expansion project on track for completion in mid-2025. The mining firm achieved annual copper production of 431 thousand tonnes (“kt”) in 2024, exceeding the guidance range of 400 to 420kt. Kansanshi achieved its highest copper and gold production since 2021 and 2022, respectively, predominately driven by higher grades. Sentinel’s increased copper production reflected higher… Read More Here

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