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DRC Rebels Disrupt Global Mineral Supply with Illegal Coltan Exports to Rwanda: UN Report

January 10, 2025January 10, 2025 Constance0 comment

Rebels in eastern Democratic Republic of Congo (DRC) illicitly exported at least 150 metric tons of coltan to Rwanda in 2023, marking the largest contamination of the Great Lakes Region’s mineral supply chain on record, according to a United Nations report. The illegal trade began after the M23 movement, a Tutsi-led rebel group allegedly supported by Rwanda, seized the Rubaya area—a region rich in minerals used in smartphones and computers—following heavy fighting in April. M23’s control of transport routes from Rubaya to Rwanda facilitated the mixing of Congolese coltan with… Read More Here

International Corporate News

Panama opens public consultation on First Quantum mine

January 10, 2025January 10, 2025 Constance0 comment

Panama’s government has kicked off a public consultation on an environmental audit of First Quantum Minerals’s (TSX: FM) Cobre Panama copper mine, which was announced in mid-2024 by then president-elect José Raúl Mulino. The Ministry of Environment (MiAmbiente) invited this week environmental organizations, local communities, academia, the private sector, and the general public to participate in the process, which will remain open until February 7. Mulino announced in July last year he would order a “strict audit” of the $10 billion mine, which was shuttered in 2023 after Panama’s Supreme… Read More Here

Mining in DRC Economy Governance

DRC Prime Minister Announces Temporary Suspension of Business Audits

January 10, 2025January 10, 2025 Constance0 comment

Prime Minister Judith Suminwa has declared a nationwide moratorium on state control missions targeting businesses, addressing concerns raised by the Federation of Congolese Enterprises (FEC) about administrative challenges during the fiscal year-end. The suspension, effective from December 16, 2024, to January 30, 2025, aims to ease pressure on businesses during this crucial period. “I have decided to grant a moratorium on all tax audits, non-tax revenue audits, and routine economic audits to allow economic operators to prepare their financial statements with peace of mind,” the Prime Minister stated in a… Read More Here

Mining in DRC Battery Metals Lithium New Mining Projects

Zijin Mining to Begin Lithium Production in the DRC Amid Legal Disputes

January 9, 2025January 9, 2025 Constance0 comment

China’s Zijin Mining Group Co. is set to commence lithium production in the Democratic Republic of Congo (DRC) early next year, leveraging one of the world’s largest deposits of the battery metal. Zijin is ramping up development at the Manono project in southeastern Congo, despite an ongoing legal dispute with Australia’s AVZ Minerals Ltd. AVZ has initiated arbitration against the DRC government, claiming the project’s exploration license was unlawfully reassigned. The Manono project, slated to begin production in Q1 2026, will be the first operational lithium mine in Congo, a… Read More Here

International Exploration Technology & Innovation

Ivanhoe Electric and BHP Launch First Survey in Arizona Under Exploration Alliance

January 9, 2025January 9, 2025 Constance0 comment

Ivanhoe Electric (NYSE American: IE, TSX: IE) has launched its inaugural geophysical survey using the advanced Typhoon data acquisition system as part of a copper exploration alliance with global mining giant BHP (ASX, NYSE: BHP). The partnership, established in May 2024, aims to uncover hidden mineral deposits across the southwestern United States. The exploration focuses on six areas of interest in Arizona, New Mexico, and Utah, spanning approximately 3,655 km². BHP has committed $15 million in funding over a three-year period, while Ivanhoe Electric will serve as the operator, deploying… Read More Here

International Copper

Chile’s year-end copper windfall signals mines are recovering

January 9, 2025January 9, 2025 Constance0 comment

Chile’s copper export revenue jumped in December, despite lower prices for the metal, indicating that mines in the top-producing country extended a recovery from the lowest levels in two decades. The sales were up 10% from November and 13% compared with the same month a year earlier, at $4.66 billion, according to data released Tuesday by Chile’s central bank. The increase comes despite average monthly prices continuing to decline — to $4.16 a pound in December from a peak of $4.73 in May. Supply from a country that accounts for… Read More Here

Mining in Zambia Copper New Mining Projects

Zambia’s Nationwide Geological Mapping Survey Progresses

January 9, 2025January 12, 2025 Constance0 comment

On August 14, President Hakainde Hichilema launched Zambia’s first-ever high-resolution geological mapping survey to identify areas with untapped mineral deposits. This ambitious initiative is part of the government’s strategy to boost mineral exploration and achieve the goal of producing three million tons of copper annually by 2031. The survey, which employs advanced aerial geophysical technology, has already covered significant portions of the Western and North-Western provinces. Mines Permanent Secretary Hapenga Kabeta revealed that the survey divides the country into four zones, with Zone A focusing on these two regions. “Areas… Read More Here

Copper Mining in Zambia

KCM Boosts Production and Employment, Enhances Social Responsibility Under Vedanta

January 9, 2025January 9, 2025 Constance0 comment

Konkola Copper Mines (KCM) Plc has increased production by 8,000 metric tons over the past five months, a move that will help protect 12,500 jobs, according to KCM Board Chairman Dr. Moses Banda. In an interview, Dr. Banda highlighted significant achievements since Vedanta Resources took over the management of KCM. He welcomed the 20% salary increase and once-off bonus provided to employees. “In addition to supporting our workforce, we have also made substantial payments to our creditors. Vedanta paid $250 million to creditors, with all Scheme Class 1 creditors fully… Read More Here

Mining in DRC Electricity

COMILU Granted Eligible Customer Status by DRC Electricity Authority

January 8, 2025January 8, 2025 Constance0 comment

On December 23, 2024, Sandrine Mubenga Ngalula, the Director General of the Electricity Regulatory Authority (ARE) in the Democratic Republic of Congo (DRC), announced that the Luisha Mining Company (COMILU), based in Lualaba province, had been granted “eligible customer” status. This status was officially confirmed during a compliance notice presentation to the company’s delegation, led by Li, the head of COMILU. In an unusual move, the eligibility status was conferred directly by the Director General of ARE, rather than through the customary ministerial decree from the Minister of Water Resources… Read More Here

Mining in DRC Economy

Tshisekedi Promotes DRC as Investment Hub During Visit to Qatar

January 8, 2025January 8, 2025 Constance0 comment

On Sunday, January 5, 2025, in Doha, President Félix Tshisekedi of the Democratic Republic of Congo (DRC) highlighted the country as a prime destination for investment, in the presence of his counterpart, Emir Tamim Bin Hamad Al-Thani of Qatar. During the meeting, President Tshisekedi emphasized the favorable business climate in the DRC, offering opportunities for both local and foreign investors and paving the way for mutually beneficial partnerships. A statement from the Congolese presidency confirmed that at the Diwan Amiri Palace in Doha, the two leaders discussed strengthening bilateral cooperation,… Read More Here