Governance - Copperbelt Katanga Mining

DRC: US encourages government to review certain mining contracts

August 13, 2022August 13, 2022 arnbethnic

The United States has its sights set on Congolese mines. World power, the country of Joe Biden is aware of the place occupied by the DRC in world geopolitics. In 2019 alone, the DRC provided 71% of the world’s cobalt production (100,000 tons out of 140,000). This ore is essential for the manufacture of batteries for smartphones or electric cars. The Congolese extractive sector contributes over 70% of export earnings and is the main driver of the country’s economic growth. The country is dependent on China, which buys around 58% of its exports, if we… Read More Here

Mining in DRC Governance Taxes

Here is the list of 14 taxes abolished in DRC and 20 other taxes affected by the reduction in their rates

July 26, 2022July 26, 2022 arnbethnic

The Government of the Democratic Republic of Congo (DRC) has decided to abolish 14 fiscal levies (taxes) and to lower the rate for 20 other import and export taxes. It is indeed a response adapted to the urgency of improving the business climate in a context of multifaceted crises due, among other things, to the effects of the Covid-19 pandemic and the harmful repercussions of the Russian-Russian conflict. Ukrainian. In their efforts, the Congolese authorities intend to make the Congolese economy more competitive and attractive in the sub-region in order… Read More Here

Mining in DRC Governance

Global Witness publishes details of fraudulent export of Congolese minerals from Rwanda

July 10, 2022July 10, 2022 arnbethnic

The ITSCI, a mechanism meant to provide a reliable chain of custody for 3T minerals, facilitates the laundering of contraband minerals from mines controlled by armed groups and benefiting neighboring Rwanda. These are the claims made by Global Witness in a report published a few hours ago. According to the report, 90% of the quantities of coltan (main source of tantalum), tin and tungsten, three minerals better known as “3T minerals”, exported by Rwanda are illegally introduced from the DRC. The British NGO, which specializes in the fight against the plundering… Read More Here

Mining in Zambia Governance

Vedanta urges Zambia to halt search for new KCM investor

June 28, 2022July 4, 2022 admin

Zambia should halt the search for a new investor in Konkola Copper Mines (KCM) until litigation with Vedanta Resources is settled, the Indian mining company said on Tuesday. Zambia’s previous government put KCM in the hands of a liquidator in May 2019, triggering the ongoing legal dispute with Vedanta Resources, KCM’s parent company. The government accused Vedanta of failing to honour licence conditions, including promised investment. Vedanta has repeatedly denied it broke the terms of its licence. KCM provisional liquidator Celine Nair said on June 7 that the company would appoint an adviser to help it to find an… Read More Here

Mining in DRC Governance

Despite the closure of part of the DRC border with Uganda, Alphamin continues to export tin

June 19, 2022June 19, 2022 arnbethnic

The mining company Alphamin Resources continues to export tin from the Democratic Republic of Congo (DRC) across the border with neighboring Uganda despite the closure of part of the border following fighting between the DRC Armed Forces and the M23 rebels supported by the Rwandan army. In a press release published on Wednesday June 15, 2022, Alphamin Resources indicates that exports usually use the border posts of Aru and Mahagi before reaching Uganda. However, these two entities are located about 1,000 km north of the town of Bunagana, the epicenter of… Read More Here

Mining in Zambia Copper Governance

First Quantum to make biggest foreign investment in Zambia in a decade

May 10, 2022May 10, 2022 admin

First Quantum Minerals has announced the largest foreign investment in Zambia in more than a decade, providing a much-needed boost for the cash-strapped government of President Hakainde Hichilema as he attempts to complete a debt restructuring. The Toronto-listed company said it would invest $1.25bn to extend the life of its Kansanshi copper mine until 2044 and a further $100mn to finish the development of its Enterprise nickel project. “There is an improving investment climate in Zambia whereas in other jurisdictions it is looking a little… Read More Here

Mining in DRC Governance

Agreement between the Congolese State and Ventora group allows the DRC to circumvent the long legal process with an uncertain outcome”

May 10, 2022May 10, 2022 admin

The National Movement of Affected Consumers (MNCL) gave its opinion, this Monday, May 09, after having participated in the round table organized by the Presidency of the Republic around the agreement signed between the Ventora group of Dan Gertler and the DRC, relating to the return of oil and mining assets. Led by Joël Lamika, this civil society platform, an activist for the socio-economic rights of Congolese men and women, finds that this agreement brings significant advantages in favor of the DRC. “From our research and investigations, it emerges that… Read More Here