Governance - Copperbelt Katanga Mining

DRC Senate denies connections between Modeste Bahati and Regal Mining, listed as illegal Miner in South Kivu

September 8, 2021September 8, 2021 admin

The Senate Communication Unit, in a press release dated September 3, 2021, denies the allegations that the company Regal Mining, indexed in the illicit exploitation of mines in the province of South Kivu, is owned by the President of the Chamber. Upper Parliament, Modeste Bahati Lukwebo. “Contrary to the rumors circulating on social networks, since Friday September 3, 2021, passing Professor Modeste Bahati as the owner of the company Regal Mining which would illegally exploit the minerals in the province of South Kivu, we are keen to inform the opinion… Read More Here

Mining in Zambia Economy Governance

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 Governance

DRC reviewing $6bn mining deal with Chinese investors – Finance Minister

August 27, 2021August 29, 2021 admin

The Democratic Republic of Congo’s (DRC’s) government is reviewing its $6-billion “infrastructure-for-minerals” deal with Chinese investors as part of a broader examination of mining contracts, Finance Minister Nicolas Kazadi told Reuters. President Felix Tshisekedi said in May that some mining contracts could be reviewed because of concerns they are not sufficiently benefiting Congo, which is the world’s largest producer of cobalt and Africa’s leading miner of copper. His government announced this month it had formed a commission to reassess the reserves and resources at China Molybdenum’s massive Tenke Fungurume copper and cobalt mine in… Read More Here

Governance Mining in Zambia

Copperbelt Katanga Mining congratulate His Excellence, Mr Hakainde Hichilema

August 17, 2021August 17, 2021 arnbethnic

From the Board, Management and Staff of the Copperbelt Katanga Mining and the SmartContacts Africa group we would like to congratulate His Excellence President Elect Mr Hakainde Hichilema the 7th President of the Government Republic of Zambia on His election victory. May God bless you and may His blessings be upon all citizens of your great country Zambia. Read More Here

Governance Mining in Zambia

Zambia Elects a New President (HE Hakainde Hichilema)

August 16, 2021August 16, 2021 arnbethnic

Zambia’s electoral commission has confirmed that last week’s presidential election was won by the opposition candidate Hakainde Hichilema. Mr Hichilema defeated his main rival, the outgoing President Edgar Lungu, by almost a million votes. This was Mr Hichilema’s sixth attempt at winning the presidency. His supporters have been celebrating on the streets of the capital, Lusaka. Earlier, on Saturday last week Mr Lungu alleged that the elections were not free and fair. He said election officials from his Patriotic Front party were chased from polling stations, leaving their votes unprotected.… Read More Here

Mining tax Governance Mining in DRC Taxes

Mineral Royalty in DRC Marred by Many Irregularities

June 22, 2021June 22, 2021 arnbethnic

Mining royalty in the DRC marred with minimum actions, payments unknown to the public, transparency suspicions, management leaves much to be desired in ETDs in greater Katanga The mining royalty is undoubtedly the delight of the Decentralized Territorial Entities (ETD) which house mining companies exploiting copper and cobalt in the former Katanga. This is an innovation of the 2018 reform of the 2002 mining code. However, despite the improvements brought about by this law, transparency in the management of the funds of this precious sesame poses a problem while this… Read More Here

Mining in DRC Governance

DRC: Félix Tshisekedi considers revision of certain mining contracts

May 15, 2021May 15, 2021 admin

The Head of State met with local authorities in his visit in Kinshasa, but also mining operators. In a popular meeting, at the Mwangeji crossroads in the center of the town of Kolwezi, he also mentioned the various contracts. “It is not normal that those with whom the country has signed exploitation contracts get richer while our populations remain poor,” he said. And to add: “It is time for the country to readjust its contracts with the miners with a view to sealing win-win partnerships”, declared the President of the Republic… Read More Here

Mining in DRC Governance Mining Policy

DRC: CNPAV considers Dan Gertler’s proposal “less relevant” and calls for a judicial inquiry rather than a round table

May 15, 2021May 15, 2021 admin

The Congo is not for sale (CNPAV), in a press release published this Friday, May 14, gave its opinion on the proposal made by the Israeli businessman Dan Gertler on the proposal of a round table bringing together this platform with other “unidentified” civil society groups First, the CNPAV doubts the credibility of this proposal because it has not been officially informed. It is through the media that the CNPAV declares that it was informed of this proposal. “Congo is not for sale saw a document allegedly from Mr. Gertler’s ‘communication… Read More Here

Mining in DRC Governance

Tshisekedi visits Glencore’s Kamoto project in recognition of investments made

May 14, 2021May 14, 2021 admin

Democratic Republic of the Congo (DRC) President Felix Tshisekedi visited the operations of Glencore’s Kamoto Copper Company (KCC) in Kolwezi, on May 13, in recognition of the miner’s near $8-billion investment in the country. KCC is a joint venture (JV) between Glencore and DRC commodity trading and mining company Gécamines, which conforms to the Responsible Minerals Assurance Process standard for cobalt as defined by the Responsible Minerals Initiative. The visiting delegation also included DRC Prime Minister Sama Lukonde, Mines Minister Antoinette N’Samba, Lualaba province deputy governor Fifi Masuka and Gécamines chairperson Albert Yuma, as well as Glencore… Read More Here

Mining in DRC Cobalt Copper Governance Mining Policy

DRC: the CNPAV estimates past losses of GECAMINES in its shares and royalties within Mutanda Mining from 2011 to 2020

May 13, 2021May 14, 2021 admin

Congo is not for sale (CNPAV) estimated the DRC’s past losses in its shares and royalties, in one of the country’s largest mining companies, “Mutanda Mining”, at more than one billion euros. US dollars (1,035,000,000 USD), from March 2011 to December 2020. This is revealed by the report of this civil society platform entitled: “Billions lost: financial investigation into Dan Gertler’s transactions in the sector extractif ”, published Wednesday, May 13 in Kinshasa. Mutanda has been in the top 3 of the largest mining companies in the DRC for most… Read More Here