Governance - Copperbelt Katanga Mining

President Tshisekedi Condemns Rwanda-EU Pact as Threat to DRC's Resources 1

President Félix Tshisekedi of the Democratic Republic of Congo (DRC) has sharply criticized the recent memorandum of understanding between Rwanda and the European Union (EU) regarding sustainable value chains for critical raw materials. Speaking during a special press briefing aired live on the national channel, Rtnc, Tshisekedi labeled the agreement as a tasteless provocation. Tshisekedi argued that the pact would only serve to further exploit the DRC’s natural resources to the benefit of the Rwandan regime. He condemned the EU’s involvement, accusing it of indirectly supporting the illicit trade of… Read More Here

Mining in DRC Governance News in Brief

ARSP Cancels Three Subcontracting Contracts Worth Estimated $1 Billion for Law Violation

February 23, 2024February 23, 2024 Constance

CRSN (CREC 7, CREC 9) and INTERNATIONAL FOURTEENTH FIRST CONGO SARL are the first two companies affected by this cancellation measure, both held by shareholders of SICOMINES disguised as subcontractors for excavation works within the same main company. The third company sanctioned for the same offense is BANGDE CONSTRUCTION. Despite not being eligible, these three subcontractors alone hold contracts worth over a billion dollars, which constitutes a violation of the law. Therefore, this measure will enable companies with majority Congolese capital to obtain more contracts in line with the vision… Read More Here

Mining in DRC Governance

DRC Prime Minister Resigns to Assume Legislative Role

February 21, 2024February 21, 2024 Constance

In a surprising turn of events, Prime Minister Jean-Michel Sama Lukonde of the Democratic Republic of Congo (DRC) has tendered his resignation to President Félix Tshisekedi. This decision comes just eight days after the validation of his mandate as a national Deputy, signaling a swift transition from executive to legislative responsibilities. Under the unique electoral provisions of the DRC, government officials who are elected as National Deputies are granted an 8-day window to decide whether to accept their elected posts. As the deadline approached on Tuesday, February 20th at midnight… Read More Here

Mining in DRC Governance

DRC and China Settle 16-Year Mining Dispute with $5.8 Billion Deal

February 12, 2024February 12, 2024 Constance

A rift between China and the Democratic Republic of Congo has been averted owing to the intervention of the Congolese government. The Congolese government noted that it recently resolved the controversial mining deal between it and China. The contentious deal had felt like it would sour the relationship between both countries. A report by the East African showed that DRC government officials disclosed recently that open talks with Beijing led to the new agreement. It happened sixteen years after the two parties signed “the contract of the century,” as described… Read More Here

Mining in DRC Governance

Ivanhoe Mines Extends Congratulations to DRC President Félix Tshisekedi on Re-Election and Inauguration

January 24, 2024January 24, 2024 Constance

Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) Founder and Executive Co-Chairman Robert Friedland and President Marna Cloete, have extended their congratulations to His Excellency Félix Tshisekedi on his re-election and inauguration as the President of the Democratic Republic of the Congo. Ivanhoe Founder and Executive Co-Chairman Robert Friedland commented: “On behalf of Ivanhoe Mines, we extend our congratulations to His Excellency Mr. Tshisekedi on winning a second term. This is the nation’s fourth successful election since the turn of the century, which is a positive sign of the ongoing development of… Read More Here

Mining in DRC Governance

PRESIDENT FÉLIX TSHISEKEDI OFFICIALLY SWORN IN

January 23, 2024January 23, 2024 Constance

On Saturday January 20th 2024, President Félix Tshisekedi officially took office for a second five-year term at the head of the Democratic Republic of Congo (DRC). He was sworn in before the Constitutional Court during a solemn public and mobile session held at the Stadium of the Martyrs of Pentecost. After the ecumenical prayer, the Head of State swore before God and the nation, among other things, “to observe and defend the Constitution and the laws of the Republic, to maintain its independence and the integrity of its territory, to… Read More Here

Mining in Zambia Economy Governance

Zambia’s President to Prioritize Local Ownership in Mining Licenses with New Law

January 18, 2024January 22, 2024 Constance

In a recent announcement, President Hakainde Hichilema outlined key initiatives to strengthen Zambia’s governance and economic empowerment. The President declared the forthcoming introduction of a law aimed at preventing the sale of mining licenses to foreigners, emphasizing the government’s commitment to empowering Zambians with ownership of mining operations. Addressing the challenges in the public procurement process, President Hichilema disclosed plans for a new law in 2024 to address delays and corruption surrounding tenders. Additionally, he highlighted the impending review of the Electronic Government Procurement System (EGPS) to ensure broader citizen… Read More Here

Mining in DRC Economy Governance

DRC’s Trade Triumph: November 2023 Records $3.1 Billion Surplus, 6.87% Growth in Import-Export Volume

January 1, 2024January 1, 2024 arnbethnic

At the end of November 2023, the volume of trade between the DRC and the rest of the world increased by 6.87% compared to the corresponding period of 2022. The trade balance showed a surplus of 3,153.96 million USD compared to that of 3,146.26 million recorded at the end of November 2022. Relative to GDP, this surplus represents 4.60% against 4.78% in 2022. This development is essentially due to the more pronounced increase in imports compared to that of exports, from one year to the next. Indeed, exports increased by… Read More Here