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Beijing promises severe sanctions to Chinese companies involved in illegal mining activities in DRC 1

Beijing announces its support to the Government of the Democratic Republic of Congo (DRC) in the repression of illegal mining activities where certain Chinese companies are cited. This is what emerges from a series of messages posted on Tuesday, September 14, 2021 on Twitter by Wu Peng, an executive of the Chinese Ministry of Foreign Affairs. The latter indicates that the Beijing authorities have ordered the six Chinese mining companies banned from activities by the Governor of South Kivu province to pack up and leave the sites “as soon as possible ”. This… Read More Here

DRC: Antoinette N’Samba briefed on significant progress in Barrick Gold’s mining activities

September 15, 2021September 15, 2021 admin

The National Minister of Mines, Antoinette N’Samba Kalambayi, spoke on Tuesday, September 14, 2021, in her office, with three senior executives from the mining company Barrick Gold Corporation. On the menu of their discussions, the report on the significant advances of this mining giant. This delegation was led by its Director of Operations for the Africa and Middle East region, Willem Jacobs. Cyril Mutombo, Country Director of Barrick Gold Corporation in DRC as well as Sebastian Bock, Senior Vice President CFO of Barrick Gold Corporation were part of the delegation.… Read More Here

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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

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China backs Congo’s ban on 6 small Chinese mining companies

September 15, 2021September 15, 2021 admin

China gave its backing on Tuesday to a Congolese provincial government’s order last month banning six small Chinese-owned mining companies operating illegally. The move comes as Democratic Republic of Congo’s President Felix Tshisekedi increases scrutiny of Chinese mining activities, reviewing a $6 billion “infrastructure-for-minerals” deal with Chinese investors and reassessing China Molybdenum’s Tenke Fungurume mine. The governor of Congo’s eastern South Kivu province, Theo Kasi, suspended the operations of the six small Chinese companies on Aug 20, ordering all local and foreign staff to leave the sites. Kasi said the suspension came after the… Read More Here

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Barrick eyes new mines, not deals, for future growth

September 14, 2021September 14, 2021 admin

Barrick Gold Corp (ABX.TO) Chief Executive Mark Bristow spent years burnishing his reputation as an aggressive dealmaker, but he says now he is focused on new mines that he hopes will boost profit and the company’s sagging stock price. The strategy eschews the acquisition appetite that made Barrick what it is today and instead pins the company’s growth on exploration projects in Egypt, Nevada, Guyana and elsewhere. “The very foundation of our future has to be our geologists and where we are investing,” Bristow told Reuters on the sidelines of the MINExpo… Read More Here

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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

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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

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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

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Sama Lukonde and Chinese Ambassador investigate illicit activities of Chinese companies in the DRC

September 6, 2021September 6, 2021 admin

The Prime Minister, Jean-Michel Sama Lukonde Kyenge, received in audience, on Saturday September 4 at the government building in Kinshasa, the Chinese ambassador in the DRC, Mr. Zhu Jing, following the accusations on the existence alleged illicit activities of Chinese mining companies operating underground in mining sites in the Democratic Republic of the Congo. Speaking at the end of this hearing, the Chinese diplomat said he was concerned about these accusations. He said he was in favor of a “mixed investigation” to verify the veracity of these allegations on the ground.… Read More Here

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Barrick Confirms Per Share Distribution Amount for the Second $250 Million Return of Capital Tranche

September 2, 2021September 2, 2021 admin

Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) today confirmed that the per share amount of the second $250 million tranche of a return of capital distribution totalling $750 million to be paid on September 15, 2021, will be $0.1405092, based on the number of issued and outstanding shares as of the August 31, 2021 record date. This follows the approval by shareholders at Barrick’s Annual and Special Meeting on May 4, 2021 of the total $750 million return of capital distribution. The first distribution of $250 million was made in June 2021 and… Read More Here