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Category: Mining in DRC

China State Construction Engineering to Support Kinshasa Expansion Project 1 Mining in DRC Infrastructural Development 

China State Construction Engineering to Support Kinshasa Expansion Project

Constance
The Chinese state-owned company, China State Construction Engineering, has pledged its support for the Kinshasa city expansion project. This commitment was made during a meeting between Governor Daniel Bumba and a delegation from the firm on Tuesday, October 22, 2024, at the Hilton Hotel. This urbanization initiative aims to alleviate congestion in the Congolese capital and significantly reduce traffic and sanitation issues. The project designates 486 square kilometers for the development of a new city, representing approximately 5% of Kinshasa’s total area. Kinshasa authorities have selected China State Construction Engineering… Read More Here
Prime Minister Judith Suminwa Urges Congolese Diaspora to Support National Development 2 Mining in DRC Governance 

Prime Minister Judith Suminwa Urges Congolese Diaspora to Support National Development

Constance
Prime Minister Judith Suminwa Tuluka has called on the Congolese diaspora to play an active role in the development of the Democratic Republic of Congo. During her visit to Brussels, she emphasized the importance of integrating the concerns of expatriates into national public policies. “I left Belgium 27 years ago, and I never imagined that I would one day return as Prime Minister. This sentiment resonates with many. While some may view this role as an honor or a source of pride, for me, it is a heavy responsibility. I… Read More Here
Maniema Province Ushers in New Era with Oil Tax Agreement 3 Mining in DRC Oil & Gas Petroleum 

Maniema Province Ushers in New Era with Oil Tax Agreement

Constance
A new era is emerging for Maniema Province following a significant development on Monday, October 21. Oil companies and the provincial government signed a historic memorandum of understanding to establish a conventional tax on petroleum products. This tax, set at 300 Congolese francs per liter, aims to fund ambitious projects to improve the province’s infrastructure. The revenue generated from this tax will be allocated to road infrastructure projects, enhance public services, and stimulate the local economy. The decision, reached after extensive negotiations, was met with enthusiasm from all stakeholders. During… Read More Here
DRC Govt Addresses Foreign Presence in Mining Areas Amid Recent Arrests 4 Mining in DRC 

DRC Govt Addresses Foreign Presence in Mining Areas Amid Recent Arrests

Constance
The presence and movement of foreigners in mining sites were key topics during the eighteenth meeting of the Council of Ministers, held on Friday, October 18, 2024. In his remarks, Head of State Félix-Antoine Tshisekedi highlighted concerns regarding illegal foreign operations in the country’s mining regions. The President pointed out that, despite the liberalization of the mining sector—enshrined in the Mining Code—foreign operators must comply with legal regulations. He stated, “The abandonment of the ban on the movement of foreigners in mining areas should not be interpreted as a lack… Read More Here
Rawbank Partners with ARSP to Boost Funding for 20,000 SMEs in DRC 5 Mining in DRC Economy 

Rawbank Partners with ARSP to Boost Funding for 20,000 SMEs in DRC

Constance
RAWBANK CEO Mustafa Rawji is leveraging the expertise of the Private Sector Subcontracting Regulatory Authority (ARSP) to reach 20,000 small and medium-sized enterprises (SMEs) that will benefit from the $200 million allocated by the financial institution. He made this announcement during a working session held at the ARSP. “Rawbank is seizing an opportunity to create substantial wealth and expand SMEs in the DRC, particularly in the mining sector and other industries regulated by the ARSP. Traditionally, banks have focused on financing large companies, but we recognize the urgent need to… Read More Here
DRC Solidifies Position as Leading Global Producer of Cobalt and Copper from 2018 to 2022 6 Copper Cobalt Mining in DRC 

DRC Solidifies Position as Leading Global Producer of Cobalt and Copper from 2018 to 2022

Constance
Between 2018 and 2022, the Democratic Republic of Congo (DRC) solidified its status as the world’s largest producer of cobalt and the second-largest producer of copper. According to the International Monetary Fund (IMF), the DRC generated an average of $5.5 billion annually in mining revenues during this period, a notable increase from $4 billion between 2013 and 2017. This surge in revenue is further supported by analyses from various media outlets, including Bankable, a subsidiary of the Ecofin Agency, highlighting the DRC’s strategic significance in supplying critical raw materials. As… Read More Here
DRC Authorities Close Kanshi Commune's Artisanal Diamond Mine to Protect Resident Safety 7 Diamond Artisanal mining Mining in DRC 

DRC Authorities Close Kanshi Commune’s Artisanal Diamond Mine to Protect Resident Safety

Constance
The artisanal and clandestine diamond mine in the Kanshi commune of Eastern Kasai was officially closed on Monday, October 21, 2024, to safeguard the lives of local residents, as stated in a report from the Council of Ministers. “The governor announced the permanent closure of the artisanal diamond mine in Kanshi and the establishment of enhanced surveillance measures to prevent further tragedies,” the report noted. This decision follows a series of fatalities linked to clandestine diamond mining activities, primarily conducted by young residents, which have resulted in significant loss of… Read More Here
Sodimico SA Conducts Inventory of Mining Sites in Kasumbalesa 8 Mining in DRC 

Sodimico SA Conducts Inventory of Mining Sites in Kasumbalesa

Constance
On Friday, October 17, 2024, the Congolese Industrial and Mining Development Company (Sodimico SA) initiated an inventory of mining sites in Kasumbalesa, located in the Haut-Katanga province. Gilbert Tutu Tedeza, the Chairman of the Board of Directors of Sodimico, stated, “We are on a mission to assess the situation in Kasumbalesa, where we will visit various mining sites,” following a meeting with the President of the Provincial Assembly, Michel Kabwe. During this visit, the Sodimico Board of Directors seized the opportunity to seek the support of the deliberative body to… Read More Here
Africa Finance Corporation Advances Zambia-Lobito Rail Project with Concession Agreements 9 Mining in Zambia Angola Mining in DRC Transport and Logistics 

Africa Finance Corporation Advances Zambia-Lobito Rail Project with Concession Agreements

Constance
The Africa Finance Corporation (AFC) has significantly advanced the Zambia Lobito Rail project by entering into concession agreements with the governments of Angola and Zambia. This ceremonial signing took place on the sidelines of the 79th session of the United Nations General Assembly (UNGA 79) with the participation of U.S. Secretary of State Antony J. Blinken and the Biden Administration’s G-7 Partnership for Global Infrastructure and Investment (PGI). The agreements empower the AFC to take the lead in funding, constructing, owning, and operating this vital infrastructure project aimed at enhancing… Read More Here
Falling Cobalt Prices Force DRC Artisanal Miners to Shift to Less Profitable Copper 10 Mining in DRC Cobalt Copper 

Falling Cobalt Prices Force DRC Artisanal Miners to Shift to Less Profitable Copper

Constance
Cobalt prices have plummeted over the last three years, dropping by two-thirds—a severe blow for the Democratic Republic of Congo (DRC), the world’s leading cobalt producer with the largest global reserves. This price slump has forced many artisanal miners to abandon cobalt mining, with some turning to copper despite its limited profitability. In Kolwezi’s Kamilombe artisanal mine, under a corrugated shed, 39-year-old miner Guelord Kongolo prepares raw cobalt for sale. “The activity here has slowed down; it’s not like it used to be,” says Kongolo, who supports four children. Faced… Read More Here

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