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Category: Governance

First Quantum to make biggest foreign investment in Zambia in a decade 1 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" 2 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 3 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 4 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  5 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 6 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 7 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
Africa praises Zambia's late ex-president Rupiah Banda 8 Mining in Zambia Governance 

Africa praises Zambia’s late ex-president Rupiah Banda

arnbethnic
Zambians are somber as they prepare to silence their former (fourth) Republican President, Rupiah Bwezani Banda, affectionately known as “RB,” who died of colon cancer on March 11, 2022 at the age of 85. He was diagnosed and treated for the disease in 2020. The funeral was scheduled for Friday March 18 at Embassy Park Presidential Cemetery in Zambia’s capital, Lusaka. Current President Hakainde Hichilema has since declared the day a national holiday. The country has observed seven days of national mourning in Banda’s honor. Banda was greeted by the… Read More Here
Provisional liquidator of Zambia's KCM suspended – official 9 Mining in Zambia Copper Governance 

Provisional liquidator of Zambia’s KCM suspended – official

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The provisional liquidator of Zambia’s Konkola Copper Mines (KCM), Milingo Lungu, has been suspended, the country’s Official Receiver said in a statement on Thursday. Zambia’s previous government, which owns 20% of KCM through State mining investment firm ZCCM-IH, handed control of KCM to Lungu in 2019, triggering a protracted dispute with Vedanta Resources, which owns the remaining 80%. Official Receiver Natasha Kalimukwa suspended Lungu after receiving a complaint from ZCCM-IH “relating to contract mismanagement, financial mismanagement, and asset mismanagement”, she said in a statement. Lungu told Reuters the Official Receiver has no power… Read More Here
CNPAV welcomes govt's initiative and demands publication of elements contained in Dan Gertler agreement for more transparency 10 Mining in DRC Governance 

CNPAV welcomes govt’s initiative and demands publication of elements contained in Dan Gertler agreement for more transparency

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Civil society, through the Congo is not for sale (CNPAV) campaign, welcomes the start of the process of recovering the assets held “illegally and irregularly” by Dan Gertler, through a memorandum of understanding signed between the Congolese State and the Israeli businessman. On this, the CNPAV requires the publication of the elements contained in this agreement for more transparency.  During a press briefing held this Tuesday, March 1 in Kinshasa, the CNPAV provided an update on the memorandum of understanding signed between the DRC and the Israeli businessman, Dan Gertler. “We… Read More Here

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