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Category: Mining in DRC

Ivanhoe Mines Reports Q3 2024 Production Results 1 Mining in DRC Copper Press Release 

Ivanhoe Mines Reports Q3 2024 Production Results

Constance
Kamoa-Kakula milled a record 3.3 million tonnes, producing a record 116,313 tonnes of copper in concentrate during Q3, with the Phase 3 concentrator in ramp-up Phase 3 concentrator ramp-up approaching steady-state throughput and recovery as at quarter end Kamoa-Kakula’s 2024 production guidance range adjusted to 425,000 – 450,000 tonnes of copper Kipushi produced 17,817 tonnes of zinc in concentrate during ramp-up in Q3 2024 Kipushi’s 2024 production guidance range lowered to 50,000 – 70,000 tonnes of zinc Kipushi concentrator now achieving recoveries in excess of 90%, as ramp-up continues to… Read More Here
DRC Oil Prices Rise 2.91% Amid Commodity Fluctuations 2 Mining in DRC Oil & Gas Petroleum 

DRC Oil Prices Rise 2.91% Amid Commodity Fluctuations

Constance
The price of a barrel of oil, a key export for the Democratic Republic of Congo (DRC), saw a 2.91% increase, trading at USD 74.52 during the week of September 13–20, 2024. This marks a notable rise from the previous week, as reported by the Central Bank of Congo (BCC). According to the BCC’s economic report, oil prices on the international market had earlier shown fluctuations, with the week of September 6–13, 2024, witnessing a slight 0.92% drop, bringing prices down to USD 72.41 per barrel. This is a 7.87%… Read More Here
DRC Poised to Profit from Tin Price Surge as Alphamin Boosts Output 3 Mining in DRC Economy Tin 

DRC Poised to Profit from Tin Price Surge as Alphamin Boosts Output

Constance
The Democratic Republic of Congo (DRC) is well-positioned to benefit from a 34% rise in tin prices in 2024, driven by increased production at Alphamin Resources. The mining company reported a 28% growth in output, reaching 12,087 tonnes in the first nine months of the year, according to its latest figures. The price of tin surged to $33,810 per tonne on the London Stock Exchange, primarily due to supply disruptions in Indonesia and Myanmar, which together account for 40% of global tin production. This has created a significant opportunity for… Read More Here
Forbes Honors ARSP Director for Leadership in Congolese Entrepreneurship 4 Mining in DRC Governance 

Forbes Honors ARSP Director for Leadership in Congolese Entrepreneurship

Constance
During his visit to the United States, Miguel Kashal Katemb, Director General of the Regulatory Authority for Subcontracting in the Private Sector (ARSP), received a diploma of merit from Forbes magazine. This recognition was awarded for his exemplary leadership in promoting entrepreneurship in the Democratic Republic of Congo (DRC), specifically in the subcontracting sector, where Congolese entrepreneurs have begun to secure substantial contracts with major companies. In 2024, Forbes celebrated several African leaders for their contributions to various sectors. At the event, Miguel Kashal expressed his gratitude to President Félix… Read More Here
Tshisekedi and Macron Discuss Security and Diplomatic Issues at Elysée Palace Meeting 5 Mining in DRC Governance 

Tshisekedi and Macron Discuss Security and Diplomatic Issues at Elysée Palace Meeting

Constance
On Friday, October 4, 2024, President Félix Tshisekedi of the Democratic Republic of Congo (DRC) held a one-on-one meeting with French President Emmanuel Macron at the Elysée Palace. The two leaders discussed matters of mutual interest, focusing on key topics previously raised during their April 2024 meeting in France. According to the Congolese presidency, the discussions centered on the security and humanitarian crisis in eastern DRC, resulting from the conflict with Rwanda, as well as the progress of the Luanda Process, an initiative aimed at restoring dialogue between Kinshasa and… Read More Here
Glencore’s Kamoto Copper Faces Royalties Dispute Amid Ties to Dan Gertler 6 Mining in DRC Cobalt Copper 

Glencore’s Kamoto Copper Faces Royalties Dispute Amid Ties to Dan Gertler

Constance
A long-standing dispute between a Glencore Plc unit and the Democratic Republic of Congo (DRC) is centered around a deal struck years ago by Israeli businessman Dan Gertler, who has been sanctioned by the US for alleged corruption. The conflict involves Kamoto Copper Company (KCC), a major copper and cobalt mine owned by Glencore, and concerns royalty payments made to Gertler. Congo’s mines minister, Kizito Pakabomba, stated that the government believes part of these funds should have been paid to the state rather than Gertler. Gertler was sanctioned by the… Read More Here
Zijin Mining Eyes Major Expansion of Kamoa-Kakula Copper Mine in the DRC 7 Mining in DRC Copper New Mining Projects 

Zijin Mining Eyes Major Expansion of Kamoa-Kakula Copper Mine in the DRC

Constance
China’s Zijin Mining Group Co. is considering a significant expansion of the Kamoa-Kakula copper mine in the Democratic Republic of Congo (DRC), which could make it one of the largest copper sources globally. The company’s chairman, Chen Jinghe, revealed plans to boost production to 1 million tonnes annually—well above the current target of 600,000 tonnes—potentially challenging BHP Group’s aging Escondida mine in Chile, the world’s largest copper mine. “We are conducting research and making plans to achieve 1 million tonnes of production,” said Chen in an interview at Zijin’s headquarters… Read More Here
Cobalt Prices Hit Eight-Year Low Amid Oversupply from DRC and Indonesia 8 Battery Metals Cobalt Mining in DRC 

Cobalt Prices Hit Eight-Year Low Amid Oversupply from DRC and Indonesia

Constance
The price of cobalt has reached its lowest level since January 2016, according to a daily assessment by Fastmarkets, a UK-based agency specializing in metal prices. On September 24, 2024, cobalt prices on the London Metal Exchange had dropped by 54% since early September 2022, standing at $22,382 per tonne. This significant price decline is attributed to an oversupply, primarily from the Democratic Republic of Congo (DRC) and Indonesia, the world’s top two producers of cobalt. According to the Cobalt Institute, global demand for cobalt was projected to reach 197,000… Read More Here
Minister of Portfolio Visits Kamoa Copper to Assess Performance and Strengthen State Collaboration 9 Mining in DRC Copper 

Minister of Portfolio Visits Kamoa Copper to Assess Performance and Strengthen State Collaboration

Constance
From September 21 to 22, Kamoa Copper hosted a visit from the Congolese Minister of Portfolio, His Excellency Jean-Lucien Bussa. The visit aimed to evaluate Kamoa Copper’s performance, in which the State of the Democratic Republic of Congo (DRC) holds a 20% stake, and to outline the minister’s strategy for enhancing public company performance through collaboration. “I am here as the Minister of Portfolio, representing the shareholder state, to visit a mixed economy mining company where the State, the Congolese economy, and the people all have vested interests. This company… Read More Here
AVZ Minerals Asserts Legal Rights Amid Manono Lithium Permit Dispute 10 Mining in DRC Battery Metals Lithium 

AVZ Minerals Asserts Legal Rights Amid Manono Lithium Permit Dispute

Constance
AVZ Minerals Limited (AVZ) has raised concerns over the purported transformation of Research Permit PR15775 into an Exploitation Permit by Manono Lithium SAS, a joint venture between Jinxiang Lithium Limited (a subsidiary of Zijin Mining Group) and Congolaise D’Exploitation Miniere SA (Cominière). AVZ asserts that PR15775 overlaps the northern portion of PR13359, a permit the company claims legal rights to through its majority stake in Dathcom Mining SA. AVZ refers to provisional orders from the International Centre for Settlement Disputes (ICSID) arbitration proceedings (ICSID Case No. ARB/23/20). These orders, disclosed… Read More Here

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