Economy - Copperbelt Katanga Mining

Mining plays a critical role in transformation

September 2, 2021September 2, 2021 admin

As SA works to reset and rebuild, reaffirming our commitment to transforming our economy and society has never been more urgent. Transformation can enable our economic recovery and social cohesion efforts. Over the past 27 years SA has been guided by the ideals set out in the constitution to heal the divisions of the past and establish a society based on democratic values, social justice and fundamental human rights. While we have made much progress, we also know our social fabric is fraying and our economy remains closed to millions… Read More Here

New Leader Takes Zambia from Defaulter to Investor Darling – Bloomberg

August 29, 2021August 29, 2021 arnbethnic

Zambia’s new president, Hakainde Hichilema, is turning the nation’s economic fortunes around barely a week into the job. The southern African nation’s currency and dollar bonds have surged to become the world’s best performers since he was announced the winner of Aug. 12 elections. His pick of economist Situmbeko Musokotwane as finance minister has gone down well with investors, as have his pronouncements that he’ll speedily conclude a financing deal with the International Monetary Fund and court foreign investment. Zambians have grown used to bad news in recent years. Production… Read More Here

Mining in DRC Economy Mining Companies

DRC: A spectacular increase to $ 3.8 billion in Gécamines assets

August 28, 2021August 28, 2021 arnbethnic

The Générale des Carrières et des Mines SA (Gécamines SA) has released its consolidated financial statements for fiscal year 2020. A publication that responds to the principle of transparency and accountability of public companies in the portfolio of the Congolese State. This detailed report shows that the state company is in good financial health these days, despite the health crisis caused by the coronavirus pandemic. Gécamines’ balance sheet of assets stood at $ 3.8 billion as at December 31, 2020, compared to $ 3.7 billion in fiscal 2019, an increase… Read More Here

Economy Mining in Zambia

The first 100 days. Economist Oliver Saasa offers advice to the new Administration- Zambia

August 11, 2021August 11, 2021 admin

The country’s national election is just days away, but regardless of one’s politics or confidence in a party’s campaign, one thing is certain: If Zambia follows a path that leads to long-term, sustainable economic recovery, each and every citizen will benefit. Mining For Zambia asked leading economist Professor Oliver Saasa what needs to happen during the crucial first 100 days of a new administration to ensure that Zambia leaves the debt era behind, and chooses the road to economic recovery. The potential for the mining industry to drive an economic recovery… Read More Here

Mining in DRC Economy

Kinsevere’s US$6 million economic boost to 26 Bukanda communities

July 15, 2021July 15, 2021 admin

The MMG Kinsevere mine pledged US$6 million in support of 20 sustainable community projects in 26 Bukanda sector villages on 6 July 2021. Over the long term, Kinsevere has invested nearly US$20 million in the region between 2006 and 2020. These ‘Cahier des Charges’ will see economic benefits flow to locally-run businesses as well as improved agriculture, education and public health over the next five years. Patrick Nkulu, Deputy General Manager Operations; Jinlu Gao, Deputy General Manager Development, and Michel Santos, Social Development Manager, joined with Kipushi Territory administration authorities,… Read More Here

Mining tax Economy Mining in DRC

DRC’s Minister of Mines and the EITI coordinator review the payroll situation of the mining royalty due to the Public Treasury and ETDs

March 15, 2021March 15, 2021 arnbethnic

The Minister of Mines, Willy Kitobo discussed this Thursday, March 11 with Jean-Jacques Kayembe, Coordinator of the EITI-DRC (Initiative for transparency in the extractive industries). Mr. Kayembe was accompanied by the consultant recruited to shed light on the payments by all parties of the mining royalty due to the Public Treasury, to the provinces, to ETDs and to the Mining Fund for Future Generations (FOMIN). “During this hearing, Mr. Jean-Jacques Kayembe, EITI-DRC coordinator presented to the Minister of Mines the consultant who had been recruited to carry out a monitoring mission… Read More Here

Mining in DRC Cobalt Economy

CNPAV calls on DRC President to investigate the numerous contracts awarded to Dan Gertler following US decision

March 11, 2021March 15, 2021 admin

The synergy of the NGOs “Congo is not for sale” (CNPAV) welcomes the decision of the Biden administration to revoke the license against the Israeli businessman, Dan Gertler, and to fully reimpose the sanctions against him and its companies for corruption. “We welcome the US government’s decision to revoke the license against businessman Dan Gertler to fully reimpose sanctions against him and his companies for corruption. This decision by the Biden administration brings renewed energy to our anti-corruption efforts in the Congo. All those who have courageously raised their voices to denounce… Read More Here

Economy

6 reasons why Africa’s new free trade area is a global game changer

March 10, 2021March 10, 2021 admin

AfCFTA, the largest global free trade area by countries participating, could transform the continent’s economic prospects. • It aims to be a model of cross-border cooperation in an era of growing isolationism. • The agreement must overcome implementation challenges to realize its many benefits. The arrival of COVID-19 in 2020 has rapidly reshaped countries, societies and communities. Our response to the pandemic has changed political and social systems and created new social norms. Now the world continues to face a plethora of challenges – including climate change, inequality, technological change,… Read More Here

Mining in DRC Economy

DRC, as a keystone in AfCFTA, can link regional value chains

March 5, 2021March 5, 2021 admin

Trade and development experts have detailed the key role the Democratic Republic of Congo (DRC) can play in providing mineral resources for industrial and manufacturing value chains, supporting agricultural and agroprocessing value chains and serving as an epicentre for intra-African trade to drive development on the continent. During a webinar hosted by news and information company Mining Review Africa on March 2, Africa Continental Free Trade Area (AfCFTA) institutional support project coordinator for the African Union in Uganda Frank Mugyenyi, export support organisation Southern African Capital Equipment Export Council (Saceec) CEO Eric… Read More Here

Mining in DRC Economy

DRC: the Public Treasury shows a first monthly deficit in January of 14.2 million USD

February 4, 2021February 4, 2021 admin

A few days after the submission of his resignation, Prime Minister Sylvestre Ilunga Ilunkamba chaired the meeting of the economic conjuncture committee on Tuesday, February 2, 2021. The economic conjuncture committee of the resigning government notes that the economic and financial situation of the week of January 25 to 29 is characterized by a deceleration of inflation in Kinshasa and a slight acceleration of it in Lubumbashi. “We also note a monthly deficit of 29.42 billion FC at the level of public finances. Deficit financed mainly by budget support. There is a… Read More Here