Contracts & tenders - Copperbelt Katanga Mining

DRC Included in Agreement for Rebalancing Chinese Contract Provisions

March 25, 2023March 25, 2023 Constance

The Government of the Democratic Republic of Congo (DRC) and a group of Chinese companies, China Airways Corporation and Synohydro, initiated contract revisions on April 22, 2008, to balance the interests of both parties. The process began on Wednesday, March 22, 2023. Present at this work following the publication of the report of the General Inspectorate of Finance (IGF), which denounces the imbalances in the execution of the Chinese contract, Jules Alingete, Inspector General and Head of Department of the IGF, indicated that this procedure has already been provided for… Read More Here

Mining in DRC Contracts & tenders

DRC’s National Assembly to Scrutinize Chinese Contract under Parliamentary Control

March 22, 2023March 22, 2023 Constance

After President Félix Tshisekedi’s wish to revisit the Chinese contract in order to rebalance the advantages between the different parties, the National Assembly will also examine contracts signed between the Democratic Republic of Congo and third parties, including the Chinese contract. The announcement was made during the plenary session on Tuesday March 21, 2023 by the President of the National Assembly, Christophe Mboso. “It should be remembered that during this session, contracts signed between the Congolese State and certain partners will be subject to parliamentary control such as the Chinese… Read More Here

Mining in DRC Battery Metals Contracts & tenders Mining in Zambia

DRC, Zambia, UN, Afreximbank to sign EV Battery precursor SEZ Agreement

March 20, 2023March 20, 2023 Constance

The signing of the Framework Agreement relating to the creation of Special Economic Zones dedicated to the production of precursors for batteries, batteries and electric vehicles between the Democratic Republic of Congo, Zambia, the United Nations Economic Commission for Africa and Afreximbank is scheduled for March 27, 2023 in Kinshasa. This signature will be followed by the launch of a pre-feasibility study. Which study will aim to design an implementation plan and an operational model for the creation and operation of the cross-border SEZ. It will also aim to identify the… Read More Here

Mining in DRC Contracts & tenders

DRC President Accedes to the Request of Revisiting Chinese contract

March 20, 2023March 20, 2023 Constance

The President of the Democratic Republic of Congo (DRC), Félix-Antoine Tshisekedi, says he is in favor of revisiting the collaboration agreement signed on April 22, 2008 between his country and the group of Chinese companies formed by China Airways Corporation and Synohydro . The Congolese Head of State, Félix Tshisekedi made this known during the 91st meeting of the Council of Ministers held on Friday March 17, 2023 in Kinshasa. Among the motivations that led to this position, Félix-Antoine Tshisekedi mentions cases of non-compliance with the provisions of the contract,… Read More Here

Mining in DRC Contracts & tenders

ACGT Faces Legal Action for Alleged Overbilling in Chinese Contract in DRC

March 13, 2023March 22, 2023 Constance

The Attorney General at the Kinshasa Gombe Court of Appeal, Robert Kumbu, has opened a judicial file against the Congolese Agency for Major Works (ACGT) and the Chinese Contract Coordination Office for alleged cases of overbilling of infrastructure of said contract. This legal case opened against the two aforementioned structures follows the latest report published by the General Inspectorate of Finance (IGF) on the discrepancies that characterize this contract signed between the Congolese Government and a group of companies under Chinese law. “The information in my possession mentions cases of… Read More Here

International Contracts & tenders Copper

Panama and FQM agree on details for Copper Mine contract

March 13, 2023March 13, 2023 Constance

Panama’s government and Canada’s First Quantum Minerals agreed on the final text for a contract to operate a key copper mine, according to a statement signed by both parties Wednesday, 8th March. The new contract guarantees a minimum annual income of $375 million to the Central American government, and will be effective for 20 years with the option to renew for 20 more. “With this contract, Panama expects to receive about ten times more than what it was getting” under the previous contract, the statement added. The Canadian firm’s chief… Read More Here

Mining revenue Contracts & tenders

Panama Govt negotiates for Minimum $375m annual Revenues from FQM

March 10, 2023March 11, 2023 Constance

African governments and Zambia’s new dawn government in particular may have a lesson to learn from Central American negotiation skills after the confirmation that the Panama government has secured a minimum of $375 million per annum from First Quantum Minerals – FQM. In a note shared with the Zambian Business Times – ZBT, has announced that its Panamanian subsidiary, Minera Panamá, S.A. (“MPSA”), has agreed and finalized the draft of a concession contract (the “Proposed Concession Contract”) with the Government of Panamá (the “Government”) for the Cobre Panamá mine. The… Read More Here

Mining in DRC Contracts & tenders

CREFDL calls for Suspension of Negotiations on $500M promised by Sicomines in DRC amidst Chinese Contracts

March 8, 2023March 8, 2023 Constance

After the Sino-congolaise des mines (Sicomines) – a company created as a joint venture between the Democratic Republic of Congo (DRC) and a group of Chinese companies – agreed to disburse 500 million US dollars in favor of the Congolese party , voices are raised to denounce an irregular situation. The latest to step up is the Center for Research in Public Finance and Local Development (CREFDL). In a press release published on Monday March 6, 2023, CREFDL asks the Government to postpone the negotiations relating to the disbursement of… Read More Here

Mining in DRC Contracts & tenders

DRC’s Mining Sector expects Technical support from the National Geological service of France

March 6, 2023March 6, 2023 Constance

The mining sector of the Democratic Republic of Congo (DRC) will benefit, in the days to come, from the expertise of the Bureau of Geological and Mining Research (BRGM), the national geological service in France. With this in mind, the BRGM will support the DRC in the work relating to the mapping and certification of its mining resources. This was informed by the President of the Republic, Félix Tshisekedi Tshilombo, on Saturday March 4, 2023, following discussions with his French counterpart, Emmanuel Macron, during a visit to Kinshasa. The two… Read More Here

Green Energy Contracts & tenders International

Kenya Strengthens Green Hydrogen cooperation with EIB

March 6, 2023March 6, 2023 Constance

The European Investment Bank has announced that it will strengthen support for green hydrogen investment in Kenya following the signing of a joint declaration on renewable clean hydrogen Njuguna Ndung’u, Keyna’s Cabinet Secretary, National Treasury and Economic Planning, commented, “Kenya has some of the best renewable energy sources in the world if the storage components were equally developed. The route to storage has the potential to develop green hydrogen to deliver sustainable, green and inclusive growth. Today’s agreement builds on decades of close cooperation with the European Investment Bank to… Read More Here