Governance - Copperbelt Katanga Mining

Tshisekedi calls for severe and exemplary sanctions against companies that illegally exploit DRC’s minerals

September 22, 2021September 22, 2021 admin

In his speech delivered on Tuesday, September 21 from the United Nations podium for the 76th General Assembly, the Head of State Félix Tshisekedi called for sanctions against all mafia networks operating in the DRC, and all multinational companies who illegally exploit minerals there. “(…) Severe and exemplary sanctions be taken against all mafia networks, whether in transit countries, or of destination or against the multinationals which illegally exploit the minerals of my country and in return feed the armed groups with arms and ammunition, thus perpetuating the conflict in… Read More Here

Mining in DRC Governance Mining Companies

Félix Tshisekedi orders an investigation “within a reasonable time” into mining fraud scandals-DRC

September 20, 2021September 20, 2021 admin

The President of the Republic, Félix Tshisekedi, deplored, during the Council of Ministers of Friday, September 17, the various scandals of illegal exploitation of mineral resources. According to the report of this Council of Ministers, several economic operators (companies or individuals) holding research permits operate instead of actual research. For the Head of State, there is “an imperative need to assess this situation with the Mining Cadastre and to initiate an investigation within a reasonable time”. In the same section, the President of the Republic instructed the Minister of Mines… Read More Here

Mining in DRC Governance Mining Companies

Bahati Lukwebo: “I have no business in the mines

September 15, 2021September 15, 2021 admin

Bahati Lukwebo has responded to allegations spread on social media about his alleged cases in the mining sector. Messages circulating on several digital platforms attributed by the company Régal Mining to the current President of the Senate. “On social networks, there are those who are busy waging war against political opponents. I read what was written on Régal Mining. I don’t know Régal Mining. I salute the mission that has been delegated in the province of South Kivu, in the territory of Mwenga, ”said Modeste Bahati Lukwebo during a press conference organized this Tuesday… Read More Here

Mining in DRC Governance Mining Companies

Félix Tshisekedi demands evaluation of the projects included in the Sino-Congolese contract- DRC

September 14, 2021September 14, 2021 admin

In his communication during the nineteenth meeting of the Council of Ministers, held on Friday, September 10, the President of the Republic Félix Tshisekedi asked the Minister of State, Minister of Infrastructure and Public Works to present, during the twenty- and-first meeting of the Council of Ministers, the state of play of the technical and financial execution of the projects included in the Sino-Congolese contract, and to the Minister of Mines to do the same in her sector. Félix Tshisekedi wants to see clearly about the technical and financial execution… Read More Here

Mining in DRC Governance Mining Policy

DRC agrees to IMF deal but players worry over looming purge of sector

September 13, 2021September 13, 2021 arnbethnic

IMF committed to a three-year credit to the tune of $1.5 billion. But it came with conditions, one of which was to enhance the fight against graft as well as clean up messy or lopsided mining agreements granted to foreign firms. The arrangement is such that the DRC must revise old agreements for mining as well as set up policies that will prevent future deals from being one-sided. One such contract has stepped on the toes of Chinese investors who signed a contract in 2008 to extract minerals in Lualaba… Read More Here

Governance Mining in Zambia Mining Policy

Zambian president promises to cut deficit, review mining policies

September 10, 2021September 13, 2021 admin

Zambian President Hakainde Hichilema said on Friday during the ceremonial opening on the 1st session of the 13 national assemble that his new government would implement policies to reduce the fiscal deficit, restore economic growth and review mining policies. In his first address to parliament since his election in August, Hichilema said officials would also review agricultural policies, revise electricity prices and reform state power firm Zesco. Last November Africa’s second-biggest copper producer became the first country on the continent to default on its sovereign debt during the pandemic, after failing to… Read More Here

Mining in DRC Governance Mining Companies

The National Assembly sends a delegation of deputies to gather information on illegal explorations in South Kivu- DRC

September 9, 2021September 9, 2021 admin

Following the revelations on the illicit exploitation of minerals by Chinese companies in the territory of Mwenga (South Kivu), the office of the National Assembly dispatched a delegation of 8 national deputies led by Jean-Claude Kibala to collect informations. The mission is made up of elected officials from South Kivu and members of the environment, tourism, natural resources and sustainable development committee. It will not only collect information on the illegal exploitation of natural resources, but also on the destruction of the environment. “We want to go and see how… Read More Here

Mining in DRC Governance Mining Companies

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