Mining in DRC - Copperbelt Katanga Mining

DRC Mines Minister Strengthens Bilateral Ties at China Mining Forum 2024 1

The Democratic Republic of Congo (DRC) was represented at the China Mining Forum 2024 by Kizito Pakabomba, the Minister of Mines. His visit focused on strengthening Sino-Congolese cooperation in the mining sector through strategic meetings and industrial visits. Upon arrival, Minister Pakabomba was welcomed by DRC Ambassador to China, François Balumuene. He then met with Turkey’s Minister of Energy and Natural Resources, Alparslan Bayraktar, to discuss potential partnerships in energy and natural resources that would benefit both nations. At the China Mining Forum, Pakabomba emphasized the importance of the DRC-China… Read More Here

Ivanhoe Mines Issues Third Quarter 2024 Financial Results

November 3, 2024November 3, 2024 Constance

Ivanhoe Mines’ (TSX: IVN) (OTCQX: IVPAF) President Marna Cloete and Chief Financial Officer David van Heerden are pleased to present the company’s financial results for the three and nine months ended September 30, 2024. Ivanhoe Mines is a leading Canadian mining company developing and operating its four principal mining and exploration projects in Southern Africa: expanding production at the world-class Kamoa-Kakula Copper Complex in the Democratic Republic of Congo (DRC); ramping up the ultra-high-grade Kipushi zinc-copper-lead-germanium mine in the DRC; building the tier-one Platreef palladium, rhodium, nickel, platinum, copper and gold… Read More Here

Mining in DRC

Lualaba Governor Cracks Down on Fake Missions to Combat Mining Sector Abuses

October 31, 2024October 31, 2024 Constance

Lualaba’s Governor, Fifi Masuka, now mandates that all mission orders for trips to Kolwezi’s mining sites be stamped at her office following reports of abuse by unauthorized missions from Kinshasa. The provincial government has documented repeated instances where individuals claiming to represent the central government conducted fake missions within mining companies, often engaging in coercive tactics. In a recent incident, a group of Chinese employees from the GTS company was abducted by imposters posing as government representatives from Kinshasa. According to Lualaba’s provincial police commissioner, these fake missionaries demanded a… Read More Here

Mining in DRC Cobalt Economy

Kisanfu Mine Leads Global Cobalt Supply Surge

October 31, 2024October 31, 2024 Constance

The Kisanfu cobalt mine in the Democratic Republic of Congo (DRC) is projected to be the largest contributor to global cobalt supply growth in 2024, adding an estimated 23,000 tonnes more than in 2023. This announcement, made by the Cobalt Institute on October 28, 2024, forecasts a substantial market surplus for the year. In its annual report from May 2024, the Cobalt Institute reported a cobalt surplus of 14,200 tonnes for 2023—nearly double that of 2022—highlighting the pivotal role of Kisanfu, which added 32,500 tonnes to the global supply in… Read More Here

Mining in DRC Economy

IMF Projects Substantial Wealth Growth for DRC by 2029

October 30, 2024October 30, 2024 Constance

The International Monetary Fund (IMF) forecasts a significant increase in wealth creation in the Democratic Republic of Congo (DRC) by 2029, projecting it to reach 372,325.2 billion Congolese Francs (CDF). These projections are detailed in the IMF’s latest report, “Economic Outlook for Sub-Saharan Africa, October 2024.” The IMF has revised its forecasts upward from previous estimates, with projections of 300,000 billion CDF in 2023 and 357,789 billion CDF in April 2024. This suggests an optimistic growth trajectory for the Congolese economy. However, the institution has downgraded the nominal dollar value… Read More Here

Mining in DRC Artisanal mining

Unchecked Mining in DRC’s South Kivu Raises Concerns Over Illegal Activity and Environmental Harm

October 30, 2024October 30, 2024 Constance

South Kivu, a province rich in tin, tungsten, niobium, tantalum, rare earths, and gold deposits in eastern Democratic Republic of Congo (DRC), faces persistent security challenges that deter large industry investors from entering the area. Instead, mining is largely conducted by cooperatives and foreign firms, especially those with Chinese capital. Many operate with impunity, often in violation of DRC’s mining regulations, and with the alleged support of powerful figures. A prominent example is Tong Li Resources, a Chinese company involved in gold mining in South Kivu and neighboring Maniema Province.… Read More Here

Mining in DRC Cobalt Economy

Cobalt Market Forecasts 37,000-Tonne Surplus Amid Slowing Demand in 2024

October 30, 2024October 30, 2024 Constance

The global cobalt market is projected to experience a notable surplus in 2024, with the Cobalt Institute forecasting a surplus of 37,000 tonnes. This outlook aligns with recent statements from CMOC, the world’s largest cobalt producer, which noted a slowing rate of supply growth in the latter half of the year. Key contributors to this surplus are increased production from the Kisanfu mine in the Democratic Republic of Congo (DRC), set to add an additional 23,000 tonnes over 2023 levels, and a 14,000-tonne increase from the Tenke Fungurume mine, also… Read More Here

Mining in DRC Corporate News

Haut-Katanga Assembly Launches Environmental Probe into MMG Kinsevere Amid Community Concerns

October 29, 2024October 29, 2024 Constance

Following environmental concerns raised by local communities over MMG Kinsevere’s mining activities, Michel Kabwe Muamba, President of the Haut-Katanga Provincial Assembly, has initiated a joint commission to investigate. On October 28, 2024, Kipushi Territory Administrator Gaunce Bupe Kapalo officially launched the commission’s work, which includes independent experts and representatives of affected parties. “We are here to fulfill our mandate from the Assembly President,” Kapalo said, calling on residents to remain calm as the commission aims for swift findings, expected by Friday. Representing MMG, Charles Kyona, Deputy General Manager for Stakeholder… Read More Here

Mining in DRC Battery Metals

Prime Minister and Asia Minerals Limited Discuss Manganese Investment in DRC

October 29, 2024October 29, 2024 Constance

On Saturday, October 26, 2024, Prime Minister Judith Suminwa Tuluka met with a delegation from Asia Minerals Limited (AML Group), a global mining company, led by President Eric Chung. The company, specializing in manganese mining—particularly in South Africa—expressed strong interest in exploring investment opportunities within the Democratic Republic of Congo’s mining sector. Following the meeting, Eric Chung praised the productive discussions and highlighted the Congolese government’s openness and dedication to mining industry standards. He noted the positive state of relations between Japan and the DRC, which date back to the… Read More Here

Mining in DRC Corporate News

GECAMINES Advances Mining Transparency with Secure Certificate Initiative

October 27, 2024October 27, 2024 Constance

GECAMINES, a cornerstone of the mining sector in the Democratic Republic of Congo (DRC), has entered a new phase in securing its operations by obtaining the first secure certificates for its mining titles. The formal presentation of these certificates took place on Friday, October 18, 2024, in Kinshasa, conducted by the Mining Registry (CAMI). During the event, Guy Robert Lukama, Chairman of the Board of Directors of GECAMINES, received the certificates from Popol Mabolia Yenga, the Director General of CAMI. This initiative is part of the implementation of tamper-proof certificates… Read More Here