Cobalt - Copperbelt Katanga Mining

EGC Reaffirms Commitment to Ethical and Transparent Artisanal Cobalt Mining Practices 1

Entreprise Générale du Cobalt (EGC) has reaffirmed its dedication to upholding rigorous ethical, transparent, and responsible practices in artisanal cobalt mining, in alignment with the commitments set forth by the government of the Democratic Republic of Congo (DRC). In a statement shared with DESKECO.COM, EGC emphasized its ongoing efforts to formalize artisanal cobalt mining with the goal of generating sustainable economic opportunities for local communities. The company highlighted its initiatives, developed through dialogue with various stakeholders, particularly the creation of pilot sites designed to establish a model for ethical and… Read More Here

Mining in Zambia Cobalt Copper New Mining Projects

$30 Million Copper and Cobalt Mine Set to Boost Production in Zambia’s Copperbelt

September 22, 2024September 22, 2024 Constance

A new $30 million copper and cobalt mine, Chilibwe Mine, is set to begin operations in Mufulira District, Copperbelt Province. The mine, located off the Ndola-Mufulira road, spans 20 hectares and is expected to produce 2,000 metric tonnes of copper and cobalt per month over its projected 10-year lifespan. This venture aligns with President Hakainde Hichilema’s vision to increase Zambia’s copper output to 3 million tonnes annually by 2032. At a recent scoping meeting in Mufulira, Chilibwe Mine’s management engaged key stakeholders to discuss the project’s potential environmental and social… Read More Here

Lithium Battery Metals Cobalt Mining in Zambia

WTO Chief Advocates Local Processing of Mining Products to Boost Africa’s Economic Value

September 15, 2024September 15, 2024 Constance

On Tuesday, September 12, 2024, World Trade Organization (WTO) Director-General Ngozi Okonjo-Iweala urged Africa to process its strategic mining products locally instead of exporting them raw. In a media briefing, she emphasized the need for an integrated approach to develop full value chains on the continent, particularly in resource-rich countries like the DRC. “Why continue to export raw materials?” Okonjo-Iweala questioned. “We should process these critical minerals locally, in partnership with neighboring countries such as Zambia, to create jobs and increase value addition in the region.” She highlighted Africa’s potential… Read More Here

Mining in DRC Cobalt Copper

ERG Secures $150M Financing to Boost DRC Copper and Cobalt Operations

September 9, 2024September 9, 2024 Constance

Eurasian Resources Group (ERG) has secured a $150 million pre-export financing agreement with Bank of China Limited, London Branch, in collaboration with Glencore International. This financing will support ERG’s mining operations in the Democratic Republic of Congo (DRC), particularly at Metalkol, a unit focused on reprocessing copper and cobalt residues. The agreement hinges on a copper cathode supply contract from Metalkol, using future export revenues as collateral. This arrangement provides ERG with the liquidity needed to sustain its investments in the Kolwezi region. “We are delighted to support the continued… Read More Here

Mining in DRC Cobalt Copper Transport and Logistics

US sees bipartisan backing for Africa critical minerals plan

September 1, 2024September 1, 2024 Constance

A senior US State Department official reassured African governments that an initiative to help counter China’s influence through developing infrastructure on the continent will continue even after a change in administration. The flagship of the plan — a railway project known as the Lobito corridor that connects copper and cobalt mines in the Democratic Republic of Congo to an Atlantic port in Angola — is already far advanced, Helaina Matza, acting special coordinator for the Partnership for Global Infrastructure and Investment, told reporters on Wednesday. “In many ways, there’s a… Read More Here

Mining in DRC Cobalt Copper

Gécamines Faces Proposed Overhaul to Address Deep-Rooted Challenges

August 31, 2024August 31, 2024 Constance

Gécamines, one of the largest state-owned mining companies in the DRC, is poised for a major transformation following proposals from the human rights organization Justicia Asbl. During the Council of Ministers meeting on August 23, 2024, chaired by the Head of State, discussions centered on revitalizing Gécamines. However, Justicia Asbl argues that the current measures are insufficient to address the company’s deep-seated structural issues. In a statement released on Monday, Justicia Asbl advocated for a “total overhaul” of Gécamines, emphasizing that merely resuming mining activities will not resolve the company’s… Read More Here

Mining in DRC Cobalt Copper

DRC Govt Blocks Chemaf’s Sale of Copper and Cobalt Mines to China’s Norin Mining

August 29, 2024August 29, 2024 Constance

The government of the Democratic Republic of Congo (DRC) has opposed Chemaf SA’s plan to sell its copper and cobalt mines to China’s Norin Mining, according to a document reviewed by Reuters. In June, Chemaf, a long-time partner of commodities trader Trafigura, announced its agreement to sell its mining operations in the DRC to a subsidiary of China North Industries Corp (Norinco), a state-backed defense and industrial giant. The sale was driven by financial difficulties that had delayed the expansion of Chemaf’s Etoile and Mutoshi projects amid falling cobalt prices.… Read More Here

Mining in DRC Cobalt Copper

DRC Mines Minister Visits Tenke Fungurume to Inspect Development Projects

August 20, 2024August 20, 2024 Constance

On Saturday, August 17, Minister of Mines Kizito Pakapomba arrived in Fungurume and was warmly received at Tenke Fungurume Mining (TFM) Airport by CEO Wang Hanyuan, along with other senior management members and state representatives. The delegation, including Gécamines Deputy General Manager and other government officials, gathered at the foot of the plane to welcome the minister. The visit commenced with an overview of the 30K factory, TFM’s latest facility, which is expected to significantly boost copper and cobalt production once it reaches full capacity. The minister then visited the… Read More Here

Mining in DRC Cobalt Corporate News

DRC Minister of Mines, H.E. Mr Kizito Pakabomba, visits Metalkol SA

August 20, 2024August 20, 2024 Constance

On Saturday, 17 August 2024, Eurasian Resources Group in Africa (ERG Africa) had the honour of welcoming His Excellency (H.E), Mr Kizito Pakabomba, the National Minister of Mines of the Democratic Republic of Congo (DRC), to its Metalkol SA operation in the province of Lualaba for an official visit that marks the strengthening of a shared and promising vision for the sustainable development of the mining sector at national and international levels. As part of his tour of the Greater Katanga region, the Minister of Mines, H.E. Mr Kizito Pakabomba,… Read More Here

Mining in DRC Cobalt Copper

DRC’s Renegotiated Mining Contract with Chinese Enterprise Sparks Debate Over Missed Potential

August 16, 2024August 16, 2024 Constance

The recently signed contract on March 14 between the Democratic Republic of Congo (DRC) and the Chinese Enterprise Group (GEC) continues to fuel discussions. Bodom Matungulu, president of the think tank RDC Stratégie, which specializes in public policy, argues that the renegotiated contract, known as “Amendment No. 5,” could potentially generate over $117 billion for the DRC, thanks to the significant reserves of copper and cobalt within the country’s subsoil. However, he contends that the contract represents only a small fraction of the DRC’s vast mining potential. “The deposits covered… Read More Here