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Category: Contracts & tenders

ACGT Faces Legal Action for Alleged Overbilling in Chinese Contract in DRC 1 Mining in DRC Contracts & tenders 

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

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
Panama and FQM agree on details for Copper Mine contract 2 International Contracts & tenders Copper 

Panama and FQM agree on details for Copper Mine contract

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
Worker on stand still Mining revenue Contracts & tenders 

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

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
CREFDL calls for Suspension of Negotiations on $500M promised by Sicomines in DRC amidst Chinese Contracts 3 Mining in DRC Contracts & tenders 

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

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
DRC's Mining Sector expects Technical support from the National Geological service of France 4 Mining in DRC Contracts & tenders 

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

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
Kenya Strengthens Green Hydrogen cooperation with EIB 5 Green Energy Contracts & tenders International 

Kenya Strengthens Green Hydrogen cooperation with EIB

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
Angola, Zambia, and DRC Create Trade Corridor to Transform regional Shipping 6 Contracts & tenders Mining in DRC Mining in Zambia 

Angola, Zambia, and DRC Create Trade Corridor to Transform regional Shipping

Constance
Angola, Zambia, and the Democratic Republic of Congo (DRC) have signed an agreement to create a trade corridor that could potentially revolutionize the transportation of the region’s resources. The corridor, known as the Lobito Corridor, will connect the mining areas of Katanga province in the DRC and the Copperbelt in Zambia to the Atlantic port of Lobito in Angola. According to mining company Pensana in a statement, ”harmonizing regulations on the corridor and infrastructure development will allow the three countries to transport metals used to manufacture electric vehicles and wind… Read More Here
Hitachi Construction Machinery & FQM Announce zero Emission Partnership with signing of Letter of Intent 7 Mining in Zambia Contracts & tenders Copper 

Hitachi Construction Machinery & FQM Announce zero Emission Partnership with signing of Letter of Intent

Constance
Hitachi Construction Machinery Co., Ltd. and First Quantum Minerals yesterday, 1st March announced that they have entered into a Letter of Intent to advance the development of sustainable mining solutions at First Quantum’s flagship mining operations in Zambia. A proof of concept (“POC”) will be implemented as part of the LOI; Hitachi Construction Machinery supplying the first of its full battery, rigid frame dump trucks (“battery dump truck”) fitted with an ABB Ltd (“ABB”) battery, on-board charger and associated infrastructure by the end of FY2023 for technological feasibility trials at… Read More Here
Uncertainty Over Renewal of Chinese SICOMINES Operating Permit 8 Copper Contracts & tenders Mining in DRC 

Uncertainty Over Renewal of Chinese SICOMINES Operating Permit

Constance
According to reports, the Congolese government may not renew the operating permit of the Chinese-owned mining company SICOMINES next year. The Inspector General of Finance, Jules Alingete, said that the permit renewal is subject to negotiations and added that the demands of the IGF are clear: the $3 billion promised to the DRC by the Chinese company must be delivered, and the gains must be rebalanced. The contract between the DRC and the group of Chinese companies GEC was signed in 2008, and it promised $6.5 billion worth of infrastructure,… Read More Here

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