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Category: Mining Companies

DRC: 14 NGOs welcome the transparency initiative in the mining reserves of the Gécamines - TFM partnership 1 Mining in DRC Mining Companies 

DRC: 14 NGOs welcome the transparency initiative in the mining reserves of the Gécamines – TFM partnership

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A collective of 14 civil society NGOs working in the natural resources sector approves the decision of the Congolese State relating to the establishment of an ad hoc Commission within the Office of the Head of State whose mission is to clarify the data relating to mineral resources and mineral reserves in the partnership between Gécamines and TFM. In a correspondence addressed to the Director of the Cabinet of the Head of State Félix-Antoine Tshisekedi, they formulate some recommendations. Indeed, these civil society organizations working in the natural resources sector… Read More Here
Minister of Mines threatens to withdraw mining treatment approvals & cooperatives - DRC 2 Mining in DRC Mining Companies 

Minister of Mines threatens to withdraw mining treatment approvals & cooperatives – DRC

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The Minister of Mines, Antoinette N’samba Kalambayi summoned to her cabinet the mining companies and cooperatives operating in Mwenga in South Kivu, which are accused of violations of the relevant provisions of the Mining Code and Regulations. She asked all these mining companies and cooperatives to present themselves with all the administrative documents of their respective entities. This is provided by a document from the Ministry of Mines operated by DESKECO.COM.  “Following several reports relating to your mining activities which do not seem to be in line with the obligations… Read More Here
DRC: Gécamines-Société minière du Katanga contract, a misinterpretation fuels intoxication 3 Mining in DRC Cobalt Copper Mining Companies 

DRC: Gécamines-Société minière du Katanga contract, a misinterpretation fuels intoxication

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Crazy speculation is observed on the web around a controversial interpretation of the nature of the contract between Gécamines and the Société minière du Katanga. At the heart of the media boom: the widely circulated rumor accusing Gécamines of having sold a copper and cobalt mine at a low price to the Société minière du Katanga -Somika-, for 23 years of operation. A transaction that would have been negotiated for a modest sum of 10 million US dollars. That these allegations are false, retort experts close to Gécamines. They take as proof… Read More Here
DRC: A spectacular increase to $ 3.8 billion in Gécamines assets 4 Mining in DRC Economy Mining Companies 

DRC: A spectacular increase to $ 3.8 billion in Gécamines assets

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The Générale des Carrières et des Mines SA (Gécamines SA) has released its consolidated financial statements for fiscal year 2020. A publication that responds to the principle of transparency and accountability of public companies in the portfolio of the Congolese State. This detailed report shows that the state company is in good financial health these days, despite the health crisis caused by the coronavirus pandemic. Gécamines’ balance sheet of assets stood at $ 3.8 billion as at December 31, 2020, compared to $ 3.7 billion in fiscal 2019, an increase… Read More Here
RANKED: World’s 10 biggest copper mining companies 5 Copper International Mining Companies 

RANKED: World’s 10 biggest copper mining companies

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Following the rampant surge in copper prices earlier this year, competition amongst miners to supply the metal vital to the green energy transition is fierce. Global copper supply is dominated by mining giants, with the top 10 companies making up for more than half of the world’s output. In an unprecedented year marked by disruptions due to the global pandemic, copper mine production was contingent on how each company overcame operational challenges. Chile’s Codelco, by far the biggest copper company, avoided significant impact to its output by implementing a four-phase plan to keep production… Read More Here
The Carter Center welcomes Gécamines financial statements and calls for practice generalization. 6 Mining in DRC Mining Companies 

The Carter Center welcomes Gécamines financial statements and calls for practice generalization.

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Brand Content The Carter Center is pleased to note Gécamines’ publication of its fiscal year 2020 financial statements on its website. Disclosure of these financial statements is a significant step forward in Gécamines’ transparency and accountability process. Assuming that the published data is accurate, these financial statements are supposed to provide exhaustive and detailed information, in particular on the revenues generated by Gécamines and their use in order to allow Congolese citizens and civil society organizations to exercise good control. citizen on the management of this important state enterprise.  “We… Read More Here
Angola mine leak causes ‘unprecedented’ pollution in Congo rivers, researchers say 7 Mining in DRC Mining Companies 

Angola mine leak causes ‘unprecedented’ pollution in Congo rivers, researchers say

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A suspected leak of heavy metals from a mine in northern Angola is causing an “unprecedented environmental catastrophe”, affecting some 2 million people in Democratic Republic of Congo, researchers at Kinshasa University said on Friday. Analysis of satellite imagery and interviews indicate a reservoir used to store mining pollutants was breached on July 15 in a diamond-mining area straddling Lunda Sul and Lunda Norte provinces in Angola, said Raphael Tshimanga, director of The Congo Basin Water Resources Research Centre (CRREBaC). Two tributaries of the Congo river, the Tshikapa and Kasai rivers, turned red,… Read More Here
DRC: Development of Grand Inga, the Govt and the company Fortescue Metals Group sued 8 Mining in DRC Energy Mining Companies 

DRC: Development of Grand Inga, the Govt and the company Fortescue Metals Group sued

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The Government of the Democratic Republic of Congo (DRC) as well as the company Fortescue Metals Group may soon find themselves before a judge in an Australian jurisdiction, on the basis of a complaint lodged by the head of the Youth Parliament of the DRC. The complainant accuses the Congolese Government and the company Fortescue Metals Group of being the source of several cases of human rights violations in the context of the implementation of the development of the Grand Inga project. The two sides are also accused of corruption,… Read More Here
Zambian mines look to new leader to unlock $2bn investment 9 Mining in Zambia Mining Companies 

Zambian mines look to new leader to unlock $2bn investment

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‘The president-elect has reset the tone to one of rebuilding confidence and spurring growth,’ Chamber of Mines President Godwin Beene said. Copper producers are ready to start expansion projects worth $2 billion in Zambia next year if the industry can reach an agreement on royalties with President-elect Hakainde Hichilema’s new administration. Companies including First Quantum Minerals Ltd. and EMR Capital are ready to raise funding for the projects, while other producers need to spend “hundreds of millions on dollars” in capital that they’d held back since 2019 because of tax… Read More Here
AngloGold plunges as key African mine may stay shut all year 10 Gold Mining Companies 

AngloGold plunges as key African mine may stay shut all year

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AngloGold Ashanti (NYSE: AU, JSE: ANG ) stock dropped as much as 12% Friday after it cut production forecast and said a key mine in Ghana may not resume output this year after an accident in May. The company lowered its output goal by about 12% after removing planned gold from the Obuasi operation. Mining activities at the project will remain suspended pending the conclusion of a third-party review of the mining and ground management plans. While AngloGold hopes to restarts the mine by year-end, it would take a “cautious… Read More Here

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