Mining in DRC - Copperbelt Katanga Mining

DRC Mining Firms Forced to Import Power Amid Severe Electricity Shortages 1

Mining companies in the Democratic Republic of Congo (DRC) are importing electricity from countries like Kenya and Ethiopia due to severe supply shortages, despite the nation’s vast untapped hydropower potential that could power much of Africa. The DRC’s mining sector faces a power deficit of between 500MW and 1,000MW, according to the Chamber of Mines. This energy shortage has plagued both industry and households for years, forcing companies to seek alternative power sources to maintain operations. This week, Gécamines, its subsidiaries, and the national electricity company, SNEL, convened to strategize… Read More Here

Mining in DRC Cobalt Copper Mining tax

Glencore’s Kamoto Copper Mine Faces $894 Million Royalty Dispute in DRC

September 29, 2024September 29, 2024 Constance

Glencore’s Kamoto Copper Company (KCC), a major copper and cobalt mine in the Democratic Republic of Congo (DRC), is facing a dispute with the country’s tax authority, DGRAD, over unpaid royalties amounting to more than €800 million ($894 million). According to sources, earlier this year, DGRAD froze KCC’s local bank accounts, and recently sealed off a metal storage warehouse, though the facility was reopened the next day. Kamoto, in which Glencore holds a 75% stake, is one of the largest mines in the DRC. It exported 200,000 tons of copper… Read More Here

Mining in DRC

President Tshisekedi Reaffirms DRC’s Commitment to Carbon Market at UN Assembly

September 27, 2024September 27, 2024 Constance

During the 79th United Nations General Assembly, President Félix Tshisekedi reaffirmed the Democratic Republic of Congo’s (DRC) commitment to enhancing its role in the global carbon market. “The DRC is implementing legal instruments and institutional mechanisms to solidify its position in this market while remaining open to partnerships that align with the Paris Agreement and our internal laws,” he stated. In his address, President Tshisekedi underscored the urgency of recognizing the connections between climate change, environmental degradation, and security. He urged the Security Council to establish international mechanisms that incorporate… Read More Here

Mining in DRC

South Kivu Governor Lifts Suspension on Mining Companies

September 26, 2024September 26, 2024 Constance

The Governor of South Kivu, Jean Jacques Purusi, has announced the lifting of measures that suspended mining operations across the province. This decision was revealed during an interview with mining operators last Monday. Governor Purusi stated that compliant companies are now permitted to resume their activities, but a control team will be deployed to oversee operations. “Today, we are opening all mining activities throughout South Kivu. We urge companies that are not in compliance to get organized. A team will be on the ground to investigate each company to ensure… Read More Here

Mining in DRC Copper Governance

U.S. Strengthens Partnership with DRC to Enhance Mineral Processing at UN General Assembly

September 26, 2024September 26, 2024 Constance

During the 79th United Nations General Assembly, Félix Tshisekedi met with José W. Fernandez, U.S. Under Secretary of State for Economic Growth, Energy, and the Environment. The meeting, which took place on Monday, included the Congolese Minister of Mines, the Chairman of the Board of Directors of Gécamines, and a delegation from Buenassa, the company spearheading a project to construct a copper and cobalt refinery in Lualaba province. Mr. Fernandez reiterated the United States’ interest in investing in the Democratic Republic of the Congo (DRC) to foster a local industry… Read More Here

Mining in DRC

DRC Environmental Group Raises Alarm Over Mining Companies’ Neglect of Climate Resilience and Biodiversity

September 26, 2024September 26, 2024 Constance

In a letter to the DRC’s Minister of Environment, DEC20, an organization of Congolese environmental entrepreneurs, voiced deep concerns about the failure of mining companies to address climate resilience and biodiversity loss in the Democratic Republic of Congo (DRC). The group highlighted that Gécamines, a state-owned mining company, has caused severe deforestation in Luena for fossil coal extraction without implementing a reforestation plan. This has led to water pollution, the decline of earthworm populations, the disappearance of natural pollinators, and a collapse of bee colonies. DEC20 also criticized MMR (Mining… Read More Here

Mining in DRC Cobalt

EGC Reaffirms Commitment to Ethical and Transparent Artisanal Cobalt Mining Practices

September 26, 2024September 26, 2024 Constance

Entreprise Générale du Cobalt (EGC) has reaffirmed its dedication to upholding rigorous ethical, transparent, and responsible practices in artisanal cobalt mining, in alignment with the commitments set forth by the government of the Democratic Republic of Congo (DRC). In a statement shared with DESKECO.COM, EGC emphasized its ongoing efforts to formalize artisanal cobalt mining with the goal of generating sustainable economic opportunities for local communities. The company highlighted its initiatives, developed through dialogue with various stakeholders, particularly the creation of pilot sites designed to establish a model for ethical and… Read More Here

Mining in DRC Economy Governance

DRC Prime Minister Submits 2025 Budget Plan with Focus on Investments

September 22, 2024September 22, 2024 Constance

On Monday, September 16, Prime Minister Judith Suminwa presented three key draft laws to the National Assembly: the 2025 finance bill, the 2024 budget performance report, and an amended 2024 budget law. The proposed 2025 budget amounts to 49,847 billion Congolese francs (approximately $18 billion USD), reflecting a 21% increase over the 2024 budget of 40,986 billion Congolese francs. The Prime Minister explained that the budget takes into account global economic disruptions, such as the ongoing conflicts in Ukraine and the Middle East, as well as internal challenges like the… Read More Here

Mining in DRC Economy Transport and Logistics

U.S. Commits Support for DRC’s Lobito Corridor to Boost Regional Integration and Economic Growth

September 22, 2024September 22, 2024 Constance

During the 2nd edition of the DRC Battery Metals Forum, U.S. Ambassador to the Democratic Republic of Congo (DRC), Lucy Tamly, reaffirmed the United States’ commitment to supporting the Lobito Corridor project. This initiative is designed to enhance regional integration, create jobs, and boost global trade, particularly in agriculture, digital, and clean energy sectors. “We are focused on ways to assist the DRC in advancing the Lobito Corridor. This project is part of our global infrastructure and investment program aimed at improving regional connectivity—from mine to port—by linking the DRC… Read More Here

Mining in DRC

DRC Urged to Reclaim Mineral Wealth and Prioritize National Interests

September 22, 2024September 22, 2024 Constance

With the Democratic Republic of Congo (DRC) at the center of global demand for critical minerals, many experts argue that the wealth generated by these resources must primarily benefit the Congolese people. This view was echoed by Franck Fwamba, a mining sector analyst, during the opening of the second DRC Africa Battery Matters Forum on September 17. Fwamba emphasized the need for the DRC to re-evaluate its relationships with foreign powers and regain control of its national wealth. He noted that countries like the United States, European Union, Australia, and… Read More Here