Mining in DRC - Copperbelt Katanga Mining

Ivanhoe Mines provides update to 2025 capital expenditure guidance

January 12, 2025January 12, 2025 Constance

Ivanhoe Mines’ (TSX: IVN) (OTCQX: IVPAF) Executive Co-Chair Robert Friedland and President Marna Cloete announced the company’s fourth quarter and full-year production results for the Kamoa-Kakula Copper Complex in the Democratic Republic of the Congo (DRC) and the ultra-high-grade Kipushi zinc mine, also in the DRC. In addition, the company has announced its 2025 production guidance for Kamoa-Kakula and Kipushi, as well as updated 2025 group capital expenditure guidance. Kamoa-Kakula delivered record production in 2024 of 437,061 tonnes of copper in concentrate, a 12% year-on-year increase, following the ramp up… Read More Here

Mining in DRC

DRC Exposes Illicit Resource Exploitation by AFC-M23 Coalition

January 12, 2025January 12, 2025 Constance

The Democratic Republic of Congo (DRC) has accused the AFC-M23 coalition of illicitly exploiting natural resources, generating over $800,000 in monthly revenues. This revelation was made by the Minister of Foreign Affairs, Thérèse Kayikwamba Wagner, during a press briefing on January 9, 2025, organized by Minister of Communication and Media, Patrick Muyaya. A report by the UN Panel of Experts, cited by Minister Kayikwamba, highlights that over 10,000 artisanal miners work in Rubaya under the coalition’s administration. Taxes are levied at rates of $7 per kilogram of coltan and $4… Read More Here

Mining in DRC Corporate News News in Brief Press Release

Ivanhoe Mines Launches an Offering of US$600,000,000 Senior Notes Due 2030

January 12, 2025January 12, 2025 Constance

Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) announces that it has commenced an offering (the “Offering”) of an aggregate principal amount of US$600,000,000 senior notes due 2030 (the “Notes”). The Notes will be senior unsecured obligations of the company and will be guaranteed on a senior basis by certain of the company’s subsidiaries (the “Guarantors”). In connection with the Offering, the company entered into a US$120.0 million revolving credit facility agreement dated December 22, 2024, with, amongst others, the Guarantors and the lenders named therein. The gross proceeds from the Offering… Read More Here

Mining in DRC Artisanal mining

Tshopo Province Cracks Down on Illegal Mining Operations

January 12, 2025January 12, 2025 Constance

The Tshopo provincial government has initiated decisive measures to address illegal mining operations, which have been rampant in the region for years. A total of 142 mining companies are reportedly operating without proper authorization, leading to significant revenue losses for the province. In a press release dated January 6, 2025, the government instructed all managers of mining and exploitation companies to register with the provincial Ministry of Mines by January 20, 2025. Companies failing to comply will face legal sanctions. Provincial Minister of Mines, Thomas Mesemo wa Mesemo, expressed frustration… Read More Here

Mining in DRC Coltan

DRC Rebels Disrupt Global Mineral Supply with Illegal Coltan Exports to Rwanda: UN Report

January 10, 2025January 10, 2025 Constance

Rebels in eastern Democratic Republic of Congo (DRC) illicitly exported at least 150 metric tons of coltan to Rwanda in 2023, marking the largest contamination of the Great Lakes Region’s mineral supply chain on record, according to a United Nations report. The illegal trade began after the M23 movement, a Tutsi-led rebel group allegedly supported by Rwanda, seized the Rubaya area—a region rich in minerals used in smartphones and computers—following heavy fighting in April. M23’s control of transport routes from Rubaya to Rwanda facilitated the mixing of Congolese coltan with… Read More Here

Mining in DRC Economy Governance

DRC Prime Minister Announces Temporary Suspension of Business Audits

January 10, 2025January 10, 2025 Constance

Prime Minister Judith Suminwa has declared a nationwide moratorium on state control missions targeting businesses, addressing concerns raised by the Federation of Congolese Enterprises (FEC) about administrative challenges during the fiscal year-end. The suspension, effective from December 16, 2024, to January 30, 2025, aims to ease pressure on businesses during this crucial period. “I have decided to grant a moratorium on all tax audits, non-tax revenue audits, and routine economic audits to allow economic operators to prepare their financial statements with peace of mind,” the Prime Minister stated in a… Read More Here

Mining in DRC Battery Metals Lithium New Mining Projects

Zijin Mining to Begin Lithium Production in the DRC Amid Legal Disputes

January 9, 2025January 9, 2025 Constance

China’s Zijin Mining Group Co. is set to commence lithium production in the Democratic Republic of Congo (DRC) early next year, leveraging one of the world’s largest deposits of the battery metal. Zijin is ramping up development at the Manono project in southeastern Congo, despite an ongoing legal dispute with Australia’s AVZ Minerals Ltd. AVZ has initiated arbitration against the DRC government, claiming the project’s exploration license was unlawfully reassigned. The Manono project, slated to begin production in Q1 2026, will be the first operational lithium mine in Congo, a… Read More Here

Mining in DRC Electricity

COMILU Granted Eligible Customer Status by DRC Electricity Authority

January 8, 2025January 8, 2025 Constance

On December 23, 2024, Sandrine Mubenga Ngalula, the Director General of the Electricity Regulatory Authority (ARE) in the Democratic Republic of Congo (DRC), announced that the Luisha Mining Company (COMILU), based in Lualaba province, had been granted “eligible customer” status. This status was officially confirmed during a compliance notice presentation to the company’s delegation, led by Li, the head of COMILU. In an unusual move, the eligibility status was conferred directly by the Director General of ARE, rather than through the customary ministerial decree from the Minister of Water Resources… Read More Here

Mining in DRC Economy

Tshisekedi Promotes DRC as Investment Hub During Visit to Qatar

January 8, 2025January 8, 2025 Constance

On Sunday, January 5, 2025, in Doha, President Félix Tshisekedi of the Democratic Republic of Congo (DRC) highlighted the country as a prime destination for investment, in the presence of his counterpart, Emir Tamim Bin Hamad Al-Thani of Qatar. During the meeting, President Tshisekedi emphasized the favorable business climate in the DRC, offering opportunities for both local and foreign investors and paving the way for mutually beneficial partnerships. A statement from the Congolese presidency confirmed that at the Diwan Amiri Palace in Doha, the two leaders discussed strengthening bilateral cooperation,… Read More Here

Mining in DRC Economy

DRC Govt Launches $70 Million Treasury Bond Auction to Strengthen Financial Resources

January 8, 2025January 8, 2025 Constance

The Government of the Democratic Republic of Congo (DRC) has announced the opening of a $70 million Treasury Bond auction on January 7, 2025, as part of its efforts to bolster national finances amidst ongoing challenges. This was confirmed in a press release from the Ministry of Finance on January 6, 2025. The bond issuance aims to enhance the state’s financial stability at the beginning of the year and is critical to addressing the country’s persistent economic difficulties. For this initial offering, the interest rate remains at 9%, the same… Read More Here