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Category: Governance

Vedanta urges Zambia to halt search for new KCM investor 1 Mining in Zambia Governance 

Vedanta urges Zambia to halt search for new KCM investor

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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
Despite the closure of part of the DRC border with Uganda, Alphamin continues to export tin 2 Mining in DRC Governance 

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

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
DRC government to redouble its efforts to improve the business and investment climate 3 Mining in DRC Environment Social Governance (ESG) Governance 

DRC government to redouble its efforts to improve the business and investment climate

arnbethnic
In his communication during the 55th meeting of the Council of Ministers, the Head of State Félix Tshisekedi returned to the need to constantly support the impetus to improve the business and investment climate in the Democratic Republic of Congo. By making the improvement of the business climate a pillar of the government program, the minutes of the meeting recall, the President of the Republic recalled that he had at heart the firm hope that the executive should give all attention that this issue deserves to enable the country to… Read More Here
First Quantum to make biggest foreign investment in Zambia in a decade 4 Mining in Zambia Copper Governance 

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

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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
Agreement between the Congolese State and Ventora group allows the DRC to circumvent the long legal process with an uncertain outcome" 5 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”

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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
DRC investment climate has improved under Felix Tshisekedi's administration, US report says 6 Mining in DRC Economy Governance 

DRC investment climate has improved under Felix Tshisekedi’s administration, US report says

arnbethnic
From openness to foreign direct investment to the fight against corruption, including the return of the DRC to AGOA, the implementation of reforms to improve the judicial system, transparency in the management of public finances, the facilitation business through the Single Window for Business Creation (GUCE), the raising of the country’s sovereign rating, are all assets taken into account by an American report on investments in the DRC and which make the administration of Félix Tshisekedi in his efforts to improve the business climate. At a time when all the… Read More Here
GED Africa and the DRC government have signed a major long-term infrastructure development agreement 7 Mining in DRC Economy Governance 

GED Africa and the DRC government have signed a major long-term infrastructure development agreement

arnbethnic
GED Africa, the DRC Ministry of Infrastructure and the Agence Congolaise des Grands Travaux (ACGT) are finalizing the 25-year Concession Agreement outlining the infrastructure development needs of the DRC segment of the GED Africa Route. Kinshasa, Democratic Republic of Congo, April 11, 2022- The signing of this Concession Agreement marks a critical milestone for the project, and paves the way for the construction of a new road between Kasomeno, in the Democratic Republic of Congo (DRC) and Mwenda , in Zambia. Key features of this multilateral infrastructure project include a… Read More Here
World: mining governance in the DRC is the weakest of all the countries in the world  8 Mining in DRC Governance 

World: mining governance in the DRC is the weakest of all the countries in the world 

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Although it has significant reserves of raw materials in the world, the Democratic Republic of Congo is failing through its governance in this sector, observers from the NGO Natural Resource Governance Institute (NRGI) report in a report published recently. According to the 2021 Natural Resource Governance Index, the governance of the mining industry in 7 out of 13 countries is “ weak ” or “ insufficient ”. Mining governance in the Democratic Republic of Congo is the weakest of all countries. This governance, presented as the weakest of all, keeps local communities in the… Read More Here
Provisional liquidator of Zambia’s Konkola Copper Mines, Milingo Lungu resigns 9 Mining in Zambia Copper Governance 

Provisional liquidator of Zambia’s Konkola Copper Mines, Milingo Lungu resigns

arnbethnic
The provisional liquidator of Zambia’s Konkola Copper Mines (KCM), a company over which Vedanta Resources and the government have been locked in a long dispute, Milingo Lungu has resigned. Lungu has resigned from his position as Konkola Copper Mines Plc Provisional Liquidator with immediate effect. According to his resignation letter dated March 17, 2022 and addressed to KCM official receiver Natasha Kalimukwa, Lungu did not give any reasons for his decision. “This serves to inform you that I have with immediate effect resigned as Provisional Liquidator of Konkola Copper Mines… Read More Here
Félix Tshisekedi summons public companies including SNEL and REGIDESO to digitize their financial systems 10 Mining in DRC Economy Governance 

Félix Tshisekedi summons public companies including SNEL and REGIDESO to digitize their financial systems

arnbethnic
The President of the Republic Félix Tshisekedi summons public companies to comply with the digital system for optimized management to improve their performance on many indicators. On this subject reports the minutes of the 45th meeting of the Council of Ministers, he instructed the Minister of State, Minister of Portfolio assisted by the Minister of Digital to ensure that all State portfolio companies can produce and implement suitable roadmaps for their respective digital transformation with a priority on everything related to their finances. “Specifically with regard to the national electricity company… Read More Here

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