Diamond - Copperbelt Katanga Mining

DRC Grants SACIM Three-Month Sales Moratorium Amid Financial Crisis in Kasai

May 23, 2025May 23, 2025 Constance

Anhui Congo Mining Investment Company (SACIM), a diamond producer based in Kasai Oriental, has been granted a three-month moratorium allowing it to freely sell its production. The temporary measure is intended to help the company recover from prolonged financial hardship, including unpaid wages and heavy tax obligations. The announcement was made on Tuesday, May 20, in Tshibwe (Miabi territory) by Aristote Mutombo, the presidential envoy for Greater Kasai. He conveyed President Félix Tshisekedi’s decision to repeal Ministerial Order No. 00049/CAB.MIN/MINES/01/2022, issued by former Mines Minister Antoinette Samba Kalambay. The regulation… Read More Here

Diamond Mining in DRC

Belgium-DRC: Former colonial power Belgium retains diamond mining interests in the DRC

May 5, 2025May 5, 2025 admin

Former colonial power Belgium retains mining interests in the DRC, particularly in diamonds and critical metals. Brussels is now demonstrating its willingness to strengthen its ties with Kinshasa, amid growing geopolitical rivalries over Congolese minerals. Belgian Foreign Minister Maxime Prévot (pictured, right) indicated this week that the kingdom is willing to strengthen its relations with the DRC in the mining sector. While we await a response from Kinshasa and details of this additional commitment from Brussels, we take a look back at the existing ties between the former colonial power… Read More Here

Diamond International

African Diamond Producers Struggle as Global Prices Plunge

April 28, 2025April 28, 2025 Constance

Several African economies are feeling the strain from a sharp decline in global diamond prices. According to multiple reliable sources, diamond prices have dropped by more than 25% since 2022, impacting major African producers such as Botswana, Namibia, and Angola. The main factor behind the prolonged fall in demand and prices is the growing popularity of synthetic diamonds, which are increasingly preferred for jewelry production. The Democratic Republic of Congo (DRC) has been less affected, as diamond mining plays a relatively minor role in an economy dominated by copper and… Read More Here

Mining in Zambia Copper Diamond Drilling New Mining Projects

Tertiary Minerals Completes Initial Drilling at Mukai Copper Project in Zambia

April 20, 2025April 20, 2025 Constance

AIM-listed Tertiary Minerals has completed an initial scout drilling program at its Mukai copper project in Zambia, marking a significant step forward in early-stage exploration efforts. The program included three diamond drill holes totaling approximately 554 metres. The company reported that drilling intersected near-surface anomalous copper mineralisation, as well as thick intervals of anomalous nickel mineralisation. Two of the drill holes targeted a broad copper-in-soil anomaly, while the third focused on understanding the geology of the Tirosa Basin. Large parts of the copper and nickel soil anomalies, as well as… Read More Here

Corporate News Diamond Mining in DRC

MIBA’s Diamond Ambitions Stall Amid Delays and Unreleased Funds

April 19, 2025April 19, 2025 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

Mining in DRC Diamond

DRC Delegation Studies Botswana’s Diamond Success to Revive MIBA

April 12, 2025April 12, 2025 Constance

Following President Félix Tshisekedi’s 2023 visit to Botswana, a Congolese delegation led by Joëlle Kabena, Coordinator of the State Financial Support Project Management Unit for the Revival of MIBA Activities (UGP-MIBA), visited Gaborone from March 17 to 22, 2025. The mission aimed to draw lessons from Botswana’s world-renowned success in the diamond sector to help relaunch the operations of MIBA, once a major economic engine in the Democratic Republic of Congo (DRC). The delegation included members of MIBA’s technical management, an expert from the Ministry of Finance, and a national… Read More Here

Diamond Economy Mining in DRC

DRC Diamond Exports Generate $89 Million in 2024 with Significant Growth in Volume

March 26, 2025March 26, 2025 Constance

Diamond exports from the Democratic Republic of Congo (DRC) generated $89 million in revenue in 2024, according to the latest statistics from the Ministry of Mines. The total exports amounted to 9,240,714.14 carats during the year. An analysis of the Ministry’s 2024 annual report reveals a growth of 11.26% in diamond exports compared to 2023, when exports totaled 8,305,796 carats. The report indicates that artisanal mining dominated diamond production in the DRC, with over 6,353,613.89 carats produced, yielding $56.2 million in revenue. Among the key artisanal diamond counters, MALABAR led… Read More Here

Mining in DRC Diamond Mining safety

Five Diamond Diggers Killed in Land Collapse in Tshikapa DRC

March 26, 2025March 26, 2025 Constance

Five diamond diggers tragically lost their lives on Saturday, March 22, following a land collapse in the Kanfuma mining area, located in the diamond-rich territory of Tshikapa, in the Kasai province of the Democratic Republic of Congo (DRC). The incident occurred after heavy rains on the night of Friday, March 21, which weakened the walls of a diamond pit. The collapse resulted in the deaths of the five diggers working at the site. Their bodies were recovered and prepared for burial, according to Kangola Mike, a manager of the Kanfuma… Read More Here

Diamond Corporate News International

TAGS & Sodiam Sell $15.4M in Rough Diamonds at 2025 Luanda Tender

March 18, 2025March 18, 2025 Constance

Trans Atlantic Gem Sales (TAGS) and Angola’s state-owned diamond trader, Sodiam, successfully sold more than $15.4 million worth of large rough diamonds at their first tender of the year. The sale, held from March 5 to 13 in Luanda, featured 36 diamonds over 10 carats, including seven stones exceeding 60 carats. Approximately 95% of the goods found buyers. TAGS, which markets production from seven Angolan mines—Lulo, Tchegi, Somiluana, Kaixepa, Chitotolo, Catoca, and Luele—saw contributions from all of them in this auction. Among the highlights were two high-value diamonds from Lucapa… Read More Here

Mining in Zambia Diamond Drilling New Mining Projects

Xtract Resources Launches Diamond Drilling at Silverking Copper Project in Zambia

March 9, 2025March 9, 2025 Constance

London-listed Xtract Resources has commenced a diamond drilling program at its Silverking project (Licence 26673-HQ-LEL) in Zambia’s Mumbwa district, Central Province. The program aims to advance project development by assessing mineralisation potential and expanding exploration. Silverking operates under an option and joint venture agreement with Oval Mining, allowing Xtract to earn up to a 70% stake in the Silverking copper mine and its surrounding exploration licence. Key Drilling Objectives The drilling campaign seeks to: Advancing Mine Development Xtract’s executive chairperson, Colin Bird, emphasized the project’s advantage due to historical small-scale… Read More Here