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Zimbabwe to Seek 26% Stake in New Mining Projects

December 13, 2024December 13, 2024 Constance0 comment

Zimbabwe plans to acquire a 26% free-carry stake in all new mining projects and will also negotiate with existing operators to secure similar shares in established projects. Pfungwa Kunaka, Zimbabwe’s Secretary for Mines, told Bloomberg that the government aims for a 26% ownership in most major mining ventures. He added that these negotiations would involve discussions with investors already operating in the country. Kunaka did not disclose how the government would finance these acquisitions. However, the move aligns with the rising trend of resource nationalism across Africa, where nations are… Read More Here

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Rio Tinto Sells 30% Stake in Winu Copper-Gold Project to Sumitomo for $399 Million

December 5, 2024December 5, 2024 Constance0 comment

Rio Tinto Plc has agreed to sell a 30% stake in its Winu copper-gold project in Western Australia to Japan’s Sumitomo Metal Mining Co. for $399 million. Under the terms of the deal, Sumitomo will pay $195 million upfront and an additional $204 million in deferred payments tied to development progress, Rio Tinto said in a statement on Wednesday. The two companies also plan to explore further partnership opportunities across copper, other base metals, and lithium. Katie Jackson, Rio Tinto’s Chief Executive of Copper, described the transaction as a “unique… Read More Here

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DRC’s Vast Mineral Wealth Faces Control and Benefit Challenges Amid Global Energy Transition

December 5, 2024December 5, 2024 Constance0 comment

The Democratic Republic of Congo (DRC) is one of Africa’s most mineral-rich nations, boasting vast reserves of essential resources like lithium and cobalt—key components in batteries that are critical for the global transition to renewable energy. Despite this enormous potential, the DRC struggles to exercise full control over its mineral wealth or reap significant benefits from its exploitation, largely dominated by multinational corporations such as CMOC, Glencore, and Zijin. These concerns were highlighted by Faustin Biringanine, Director General of the Mining Fund for Future Generations (FOMIN), during the panel titled… Read More Here

Lithium Mining in DRC

DRC Minister of Mines Champions Manono’s Mining Potential

December 5, 2024December 5, 2024 Constance0 comment

The Democratic Republic of Congo’s (DRC) Minister of Mines, Kizito Pakabomba, recently visited Manono in Tanganyika Province as part of efforts to advance the country’s mining sector. This visit highlights the DRC’s strategic collaboration with Manono Lithium, a leading company in lithium extraction, a vital resource for the global energy transition. Upon his arrival, the Minister was warmly welcomed by the local community. Children presented him with bouquets of flowers and released a dove, symbolizing peace and hope for a region striving toward prosperity. A key moment of the visit… Read More Here

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AVZ Minerals Secures $15 Million Litigation Funding for DRC Disputes

November 30, 2024November 30, 2024 Constance0 comment

AVZ Minerals Limited, a lithium mining company, has secured $15 million in litigation funding from Locke Capital II to support its legal efforts related to disputes over its mining projects, including the Manono project in the Democratic Republic of Congo (DRC). AVZ CEO Nigel Ferguson expressed satisfaction with the agreement, stating on November 28: “Locke, a global litigation funder with a strong track record, has approved funding for AVZ, validating our strong position in these disputes and paving the way for a successful resolution.” The company plans to draw an… Read More Here

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Vital Kamerhe Calls for Reflection on DRC’s Mining Challenges

November 17, 2024November 17, 2024 Constance

The Democratic Republic of Congo (DRC), rich in minerals like cobalt, copper, and lithium, faces significant challenges in its extractive sector. Despite its vast resources, issues such as illicit mining, environmental pollution, corruption, and poor working conditions persist. On November 13, 2024, during a plenary session, President of the National Assembly Vital Kamerhe called for a reassessment of the country’s mining sector. He highlighted the involvement of government officials, including some deputies and ministers, in illegal mining operations, and lamented the existence of “illegal protectors” in the sector. Minister of… Read More Here

International Battery Metals Cobalt Lithium

African Nations Called to Invest in Beneficiation of Critical Minerals for Industrial Growth

October 30, 2024October 30, 2024 Constance

Africa has the potential to be a key player in the global energy transition due to its rich reserves of critical minerals like lithium and cobalt. However, maximizing this potential requires a robust strategy for building manufacturing capacity, scaling up production, and increasing exports. This perspective was shared during a panel discussion at the recent Manufacturing Indaba, highlighting how resource extraction and industrialisation offer African nations opportunities to advance along the value chain, create high-skilled jobs, and drive technological innovation. “We need to explore ways to deepen those value chains,… Read More Here

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First Africa Metals Confirms High-Grade Lithium at Misika Project in Zambia

October 7, 2024October 7, 2024 Constance

UK-based mining exploration company First Africa Metals has reported that rock chip sampling has confirmed exceptionally high-grade lithium-bearing pegmatites at its Misika project in Zambia’s Southern Province. Independent laboratory analysis of the rock chip samples, along with X-ray diffraction (XRD) data, reveals that outcropping pegmatites from existing shallow artisanal open pits contain spodumene, montebrasite, pollucite, and lepidolite. The highest-grade lithium-bearing samples (>7% lithium oxide) consist primarily of montebrasite, a lithium ore noted for its low impurity levels. The Misika pegmatite zone is currently identified as approximately 1 km wide with… Read More Here

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AVZ Minerals Asserts Legal Rights Amid Manono Lithium Permit Dispute

September 29, 2024September 29, 2024 Constance

AVZ Minerals Limited (AVZ) has raised concerns over the purported transformation of Research Permit PR15775 into an Exploitation Permit by Manono Lithium SAS, a joint venture between Jinxiang Lithium Limited (a subsidiary of Zijin Mining Group) and Congolaise D’Exploitation Miniere SA (Cominière). AVZ asserts that PR15775 overlaps the northern portion of PR13359, a permit the company claims legal rights to through its majority stake in Dathcom Mining SA. AVZ refers to provisional orders from the International Centre for Settlement Disputes (ICSID) arbitration proceedings (ICSID Case No. ARB/23/20). These orders, disclosed… Read More Here

Mining in DRC Lithium

Manono Lithium Secures Exploitation Permit for DRC Project

September 22, 2024September 22, 2024 Constance

On September 20, Manono Lithium SAS announced the successful conversion of its Exploration Permit into an Exploitation Permit for the Manono lithium mine, granted by the Ministry of Mines on September 13. A company representative highlighted the significance of this milestone for the Democratic Republic of Congo (DRC) and its local communities: “This is a crucial step that will bring jobs, investment, and numerous benefits to the region. The project will also contribute to global climate change efforts by increasing lithium supply to international markets. We are committed to its… Read More Here