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Category: Corporate News

MIBA’s Diamond Ambitions Stall Amid Delays and Unreleased Funds 1 Corporate News Diamond Mining in DRC 

MIBA’s Diamond Ambitions Stall Amid Delays and Unreleased Funds

Constance
As of April 16, 2025, Société Minière de Bakwanga (MIBA), the DRC’s state-owned diamond company, has yet to resume operations. The company has not appeared in production reports since mid-2024, casting doubt on the ambitious targets set by Chairman Jean-Charles Okoto. In November 2024, Okoto declared plans to reach one million carats per month in 2025, aiming for an annual output of 12 million carats. This would mark a dramatic leap, given that the DRC produced 8.34 million carats in 2023—already a decline from 10.78 million in 2022. Appointed in… Read More Here
DRC Grants Oil Rights to Sonahydroc in Shift Toward State-Led Energy Strategy 2 Mining in DRC Corporate News Oil & Gas 

DRC Grants Oil Rights to Sonahydroc in Shift Toward State-Led Energy Strategy

Constance
At its April 11 Council of Ministers meeting, the Democratic Republic of Congo (DRC) approved a draft decree granting petroleum rights directly to the state-owned Société Nationale des Hydrocarbures du Congo (Sonahydroc). This decree establishes the legal and fiscal framework for the transfer, aligning with the country’s oil and gas law enacted on August 1, 2015. The move signals a renewed push by the DRC to revitalize oil exploration and increase domestic production, aiming to better capitalize on its untapped hydrocarbon potential. The plan includes the immediate allocation of blocks… Read More Here
Metalkol SA, a Eurasian Resources Group company, strengthens commitment to local communities 3 Mining in DRC Corporate News 

Metalkol SA, a Eurasian Resources Group company, strengthens commitment to local communities

Constance
As part of its social obligations and in line with the revised Mining Code of the Democratic Republic of Congo (DRC), La Compagnie de Traitement des Rejets de Kingamyambo S.A (Metalkol SA), a Eurasian Resources Group (ERG) company, has signed its second Cahier des Charges to support the sustainable development of local communities in Lualaba Province, DRC. This renewed commitment reinforces Metalkol SA’s ongoing efforts to foster local development and will benefit nine communities across the villages of Samukonga, Kamimbi, Kipepa, Kashala, Samukinda, and UCK. The signing ceremony took place… Read More Here
Sinomine Targets 2026 Copper Production at Zambia’s Kitumba Mine 4 Copper Corporate News Mining in Zambia News in Brief 

Sinomine Targets 2026 Copper Production at Zambia’s Kitumba Mine

Constance
Sinomine Resource Group has announced plans to begin copper production at its Kitumba Copper Mine in Zambia’s Central Province by September 2026. The update was shared in a company WeChat post on Thursday. Located in the Mumbwa district, the project is expected to receive an investment of $560 million. On Monday, Sinomine commenced stripping operations, which involve the removal of surface soil and rock to access the ore body. This marks a key milestone in the development of the project, which is set to contribute significantly to Zambia’s copper output… Read More Here
Barrick International Corporate News Gold 

Barrick Gold Warns of Looming Crisis as Tensions with Mali Escalate

Constance
Canada-headquartered Barrick Gold has issued a stern warning to the government of Mali, stating that the future of its flagship Loulo-Gounkoto gold mine is in jeopardy due to a worsening standoff over taxes and regulatory actions. In a statement released on Wednesday, the Toronto-based gold miner accused a “small group of individuals” within Mali’s government of blocking a fully negotiated agreement—reached in February with the Ministry of Finance—for political or personal reasons. Despite Barrick already paying $85 million last year as part of ongoing negotiations, the agreement remains unsigned. “The… Read More Here
GoviEx Files Draft ESIA for Muntanga Uranium Project in Zambia 5 Mining in Zambia Corporate News Uranium 

GoviEx Files Draft ESIA for Muntanga Uranium Project in Zambia

Constance
TSX-listed GoviEx Uranium has submitted a draft Environmental and Social Impact Assessment (ESIA) to the Zambian Environmental Management Agency (ZEMA) for its Muntanga uranium project, marking a major milestone as the project advances from feasibility toward development. ZEMA will now review the draft ESIA and provide feedback and recommendations. GoviEx plans to incorporate this guidance into the final ESIA, which it expects to resubmit for approval in the second half of 2025. This submission follows the recent completion of a positive feasibility study that confirmed Muntanga as a robust, shallow… Read More Here
Jubilee Metals Boosts PGM Output Through Strategic Partnership in South Africa 6 International Corporate News 

Jubilee Metals Boosts PGM Output Through Strategic Partnership in South Africa

Constance
AIM- and AltX-listed Jubilee Metals has signed a 12-month partnership agreement with an undisclosed platinum group metals (PGM) producer to process surplus PGM- and chrome-bearing material from its South African operations. The agreement follows a significant increase in chrome concentrate production, which reached a record 974,659 tonnes for the six months ending December 31, 2024. The rise was driven by the commissioning of two new chrome processing modules at the company’s Thutse operations. The higher chrome output led to an accumulation of PGM-rich surface stock, prompting Jubilee to seek a… Read More Here
Gemfields Launches $30M Rights Issue to Bridge Funding Gap 7 Corporate News Gemstones 

Gemfields Launches $30M Rights Issue to Bridge Funding Gap

Constance
Johannesburg- and London-listed Gemfields has announced plans to raise approximately $30-million through a fully committed and underwritten rights issue, subject to shareholder approval. The company intends to issue 556.2-million new shares, marking a crucial step to strengthen its short-term financial position amid challenging market conditions. CEO Sean Gilbertson explained that Gemfields had explored external financing options for its wholly owned luxury jewellery brand Fabergé to mitigate an anticipated working capital shortfall. However, these efforts failed to secure timely funding. As a result, the board has recommended proceeding with the rights… Read More Here
Glencore’s DRC Mines Earn Copper Mark for Responsible Mining Practices 8 Mining in DRC Copper Corporate News 

Glencore’s DRC Mines Earn Copper Mark for Responsible Mining Practices

Constance
Glencore’s two operations in the Democratic Republic of Congo (DRC)—Kamoto Copper Company (KCC), a joint venture with Gécamines and the DRC government, and Mutanda Mining (MUMI), in which the State holds a 5% stake—have been awarded the Copper Mark, a globally recognised certification for responsible copper production. This achievement follows a rigorous, voluntary assurance process launched in 2024, aimed at certifying sustainable and ethical mining practices. Both KCC and MUMI are located in Lualaba province and produce copper and cobalt. “Participating in the Copper Mark assurance process has helped us… Read More Here
Barrick Gold Eyes Copper Future with Proposed Name Change to Barrick Mining Corp 9 Gold Corporate News International 

Barrick Gold Eyes Copper Future with Proposed Name Change to Barrick Mining Corp

Constance
Barrick Gold Corp., the world’s second-largest gold producer and listed on the New York Stock Exchange under the ticker “GOLD,” is signaling a major strategic shift — one that leans heavily into copper. The Canadian mining giant has proposed changing its name to Barrick Mining Corp., dropping “Gold” from its title in a move that underscores its growing focus on copper and its diversification beyond its traditional bullion roots. Barrick is currently investing $6 billion into developing a massive copper project in Pakistan, set to launch in 2028 and operate… Read More Here

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