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Category: Mining in DRC

Japanese Entrepreneurs Partner with Kinshasa to Address Energy and Infrastructure Challenges 1 Mining in DRC Energy 

Japanese Entrepreneurs Partner with Kinshasa to Address Energy and Infrastructure Challenges

Constance
A group of Japanese entrepreneurs has partnered with Kinshasa City Hall, under the leadership of Governor Daniel Bumba Lubaki, to address critical issues in the energy and infrastructure sectors of the Congolese capital. “We met with Governor Daniel Bumba to explore how we can support him in improving the energy and infrastructure sectors. Despite the challenges the city faces, we believe we can provide effective solutions,” the entrepreneurs stated. Kinshasa, a city of nearly 20 million people, is a key hub with pressing needs in energy and infrastructure. The city… Read More Here
7 subcontracting companies sign for 100 million USD with TFM 2 Mining in DRC 

7 subcontracting companies sign for 100 million USD with TFM

Constance
On Thursday, August 29, 2024, in Fungurume, Lualaba province, Miguel Kashal Katemb, the Director General of the Regulatory Authority for Subcontracting in the Private Sector (ARSP), oversaw the signing of contracts between seven local companies and the mining giant Tenke Fungurume Mining. The contracts, totaling $100 million, will allow these subcontractors to supply goods and services to Tenke Fungurume Mining. The companies involved include Invest Congo Mining Sarl, Mundo Construction Sarl, Almer Engineering Sarl, Victor Mining Services Sarl, KM-Oil, Panaco Sarl, and Groupe Kongo Oil. During the ceremony, Miguel Kashal… Read More Here
Governor of Haut-Uele Reinforces Transparency in DRC' Mining Sector 3 Mining in DRC 

Governor of Haut-Uele Reinforces Transparency in DRC’ Mining Sector

Constance
On Wednesday, the Governor of Haut-Uele province, Jean Bakomito, reaffirmed his commitment to enforcing order and transparency in the region’s mining sector. During a meeting with mining operators, alongside key state services such as the Mines Division and SAEMAPE, Bakomito emphasized the importance of adhering to legal standards and eliminating irresponsible practices at mining sites. The meeting, held in the multipurpose room of the Governor’s official residence in Isiro, focused on assessing the current state of the mining sector and outlining strategies for the sustainable development of the province. The… Read More Here
Zambia's Ministry of Mines and Ivanhoe Forge Strategic MoU 4 Mining in Zambia Mining in DRC Partnership 

Zambia’s Ministry of Mines and Ivanhoe Forge Strategic MoU

Constance
The Zambian government has taken a major step to enhance its mining sector by signing a Memorandum of Understanding (MoU) with Ivanhoe Mines. The agreement, facilitated by the Ministry of Mines and Minerals Development, is designed to drive growth and development within the country’s vital mining industry. During the signing ceremony, Mines Minister Paul Kabuswe expressed optimism about the collaboration, emphasizing the potential benefits for Zambia’s mining sector. He praised Ivanhoe’s strong investment record across Africa, highlighting the company’s expertise as a valuable asset for Zambia’s mineral resource development. Hapenga… Read More Here
DRC Govt Blocks Chemaf’s Sale of Copper and Cobalt Mines to China’s Norin Mining 5 Mining in DRC Cobalt Copper 

DRC Govt Blocks Chemaf’s Sale of Copper and Cobalt Mines to China’s Norin Mining

Constance
The government of the Democratic Republic of Congo (DRC) has opposed Chemaf SA’s plan to sell its copper and cobalt mines to China’s Norin Mining, according to a document reviewed by Reuters. In June, Chemaf, a long-time partner of commodities trader Trafigura, announced its agreement to sell its mining operations in the DRC to a subsidiary of China North Industries Corp (Norinco), a state-backed defense and industrial giant. The sale was driven by financial difficulties that had delayed the expansion of Chemaf’s Etoile and Mutoshi projects amid falling cobalt prices.… Read More Here
DRC Reveals $70 Million Plan to Revitalize MIBA and Increase Diamond Production 6 Mining in DRC Diamond 

DRC Reveals $70 Million Plan to Revitalize MIBA and Increase Diamond Production

Constance
Last Friday in Kinshasa, Kizito Pakabomba, the National Minister of Mines, presented a $70 million plan to relaunch the Bakwanga Mining Company (MIBA) during the tenth Council of Ministers. The plan, which focuses on five key areas—certification of mining reserves, concession security, production-related investments, personnel costs, and monitoring-evaluation—aims to increase MIBA’s production capacity from 2026. The company, based in the Kasai region, is targeting an annual output of 2,438,484 carats, valued at $58.95 million in revenue from diamond extraction and marketing. To support this ambitious goal, the National Minister of… Read More Here
Coltan Traffickers Caught in Goma Amid Crackdown on Illegal Mineral Trade 7 Mining in DRC Coltan 

Coltan Traffickers Caught in Goma Amid Crackdown on Illegal Mineral Trade

Constance
As part of the “Safisha Muji wa Goma” operation, seven packages of coltan, a key mineral used in the production of electric batteries, were seized on Saturday by the National Intelligence Agency (ANR) in collaboration with security forces in Goma, North Kivu. The seizure marks a significant victory in the fight against the illegal mineral trade that fuels conflict in the Democratic Republic of Congo (DRC). According to Congolese National Radio and Television (RTNC), the 350kg of coltan originated from Rubaya in Masisi territory and was en route to Rwanda… Read More Here
Lualaba Governor Aims to Diversify Economy Beyond Mining Sector 8 Mining in DRC 

Lualaba Governor Aims to Diversify Economy Beyond Mining Sector

Constance
Lualaba Governor Fifi Masuka announced her government’s plan to reduce the province’s economic reliance on the mining sector by creating new businesses. Speaking on Friday, August 23, during the presentation of her five-year program, Masuka outlined her vision for economic diversification. Addressing provincial officials at the Lualaba Provincial Assembly, Governor Masuka emphasized the need to diversify the province’s economy, which currently depends heavily on mining. “My government and I will establish new companies within the provincial portfolio to diversify the economy and lessen our dependence on the mining sector,” she… Read More Here
DRC Mining Cadastre Identifies Over 3,000 Inactive Mining Titles 9 Mining in DRC 

DRC Mining Cadastre Identifies Over 3,000 Inactive Mining Titles

Constance
On Friday, August 24, 2024, Popol Mabolia Yenga, Director General of the Mining Cadastre (CAMI), held a press briefing at the Sultani Hotel in Kinshasa. The event served as a platform for dialogue between CAMI’s management and various stakeholders in the DRC’s mining sector, focusing on the management of mining titles. Mabolia revealed that more than 3,070 mining titles are currently inactive and may face freezing. He also noted that one-third of the mining titles are not compliant due to issues such as failure to commence work and non-payment of… Read More Here
DRC to Negotiate New IMF Program After Successful Completion of Previous Agreement 10 Mining in DRC Economy 

DRC to Negotiate New IMF Program After Successful Completion of Previous Agreement

Constance
Following the completion of the sixth and final review of the economic program launched in 2021 with the International Monetary Fund (IMF) under the Extended Credit Facility (ECF), the Democratic Republic of Congo (DRC) government is preparing to negotiate a new program with the IMF, as well as a program under the Resilience and Sustainability Fund (RST). During the tenth meeting of the Council of Ministers on Friday, August 23, 2024, President Félix Tshisekedi instructed the government to “formally” engage in a new program with the IMF. He emphasized the… Read More Here

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