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Category: Mining in DRC

Zambia Temporarily Closes Key Border Crossings with DRC Amid Safety Concerns 1 Mining in Zambia Mining in DRC Regional conflict 

Zambia Temporarily Closes Key Border Crossings with DRC Amid Safety Concerns

Constance
The Zambian government has temporarily closed three major border crossings with the Democratic Republic of Congo (DRC) on the Copperbelt, citing safety concerns and the need to protect property amid ongoing protests in the neighboring country. The affected borders—Kasumbalesa, Mokambo, and Sakania—are vital trade routes between the two nations. Commerce, Trade, and Industry Minister Chipoka Mulenga confirmed the closures, emphasizing the decision was made to safeguard Zambian citizens and assets due to the unrest in the DRC. The protests in the DRC, which have intensified over the past ten days,… Read More Here
Rome Resources Begins Drilling at Kalayi Prospect in DRC 2 Mining in DRC Drilling 

Rome Resources Begins Drilling at Kalayi Prospect in DRC

Constance
Aim-listed Rome Resources has commenced drilling at its Kalayi prospect in North Kivu province, Democratic Republic of Congo (DRC). Kalayi, along with the Mont Agoma and Mont Agoma Northwest prospects, forms part of the Bisie North projects. Local contractor Mole Drilling Congo has completed site setup and staff orientation and has initiated drilling at Kalayi’s first diamond core drill hole. Two more diamond core drill rigs are scheduled to be deployed to additional sites, one at Kalayi and another at Mont Agoma, with drilling expected to begin within the next… Read More Here
Glencore Halts Cobalt Stockpiling as Surplus Market Predicted for 18-20 Months 3 Mining in DRC Cobalt Copper 

Glencore Halts Cobalt Stockpiling as Surplus Market Predicted for 18-20 Months

Constance
Glencore has ceased stockpiling electric vehicle (EV) battery material cobalt, according to CEO Gary Nagle, who stated on Wednesday that the market is likely to remain in surplus for another 18 to 20 months. In August 2023, the London-listed miner announced that it had stockpiled cobalt in the first half of the year, reducing supplies to the market to support prices. However, the company did not disclose the quantity of cobalt stockpiled, and Nagle declined to comment on current stock levels. Increased production in the Democratic Republic of Congo (DRC),… Read More Here

Tenke Fungurume Mining Reports Strong Production and Community Impact in H1 2024

Constance
Tenke Fungurume Mining (TFM) has announced its mining production results for the first half of 2024 in the Democratic Republic of Congo (DRC). According to a press release issued on Tuesday, TFM produced approximately 102,405 tonnes of copper cathodes and 7,061 tonnes of cobalt metal in the form of cobalt hydroxide. As of the first quarter of 2024, the company reported paying approximately USD 171.69 million in taxes and related payments to the DRC. Since the project commenced in 2006, TFM has contributed around USD 6.063 billion in total payments,… Read More Here
Tenke Fungurume Mining Celebrates Copper Mark Certification 4 Mining in DRC Copper Environment Social Governance (ESG) 

Tenke Fungurume Mining Celebrates Copper Mark Certification

Constance
The Copper Mark is a prestigious certification awarded to mining companies that undergo a rigorous audit of their environmental, social, and governance (ESG) practices. To date, only 52 mining operations worldwide have received this mark of distinction, with Tenke Fungurume Mining (TFM) being the first mine in Africa to achieve this certification. The celebration of this significant accomplishment took place on July 31, commemorating the international recognition obtained on June 12. The event was hosted at TFM’s facilities, with CEO Wang Hanyuan, PCA Wang Quan, and CEO John Woto attending… Read More Here
Bakwanga Mining Company Receives New Machinery to Relaunch Diamond Mining 5 Diamond Mining in DRC New Mining Projects 

Bakwanga Mining Company Receives New Machinery to Relaunch Diamond Mining

Constance
The Bakwanga Mining Company in the Kasai-Oriental province has received new machinery to restart its diamond mining operations. The handover took place on Tuesday, August 6, 2024, in Mbuji-Mayi, attended by Governor Jean-Paul Mbwebwe Kapo and the Chairman of the Board of Directors, Jean Charles Okoto, along with executives and staff of the state-owned company. The newly acquired equipment includes a Volvo excavator, an SEM loader, two dump trucks, a 6,000-liter fuel oil truck, two Tata buses with a capacity of over 61 seats for employee transportation, and five pickups.… Read More Here
Glencore Fined $152 Million by Swiss Authorities for 2011 Bribery Scandal 6 Mining in DRC 

Glencore Fined $152 Million by Swiss Authorities for 2011 Bribery Scandal

Constance
Glencore Plc (LON: GLEN) has been fined $152 million by Swiss authorities for failing to prevent a business partner from bribing a Congolese public official in 2011. In a statement released on Monday, the Swiss attorney general’s office (OAG) stated that prosecutors found Glencore did not take adequate measures to prevent the bribery. The incident involved the business partner’s acquisition of minority stakes in two mining companies in the Democratic Republic of the Congo (DRC) from a state-owned enterprise. Glencore has decided not to appeal the penalty order, despite not… Read More Here
DRC Minister of Mines Reports on Framework Agreement Negotiation with Africa Diamonds Exchange 25 Mining in DRC Diamond 

DRC Minister of Mines Reports on Framework Agreement Negotiation with Africa Diamonds Exchange

Constance
During the Council of Ministers on Friday, July 19, Minister of Mines Kizito Kapinga Mulume provided an update on the negotiation of the Framework Collaboration Agreement between the Mining Fund for Future Generations (FOMIN) and the Africa Diamonds Exchange (ADEX), a Swiss-incorporated company. A delegation from the Ministry of Mines, including representatives from FOMIN, CEEC, and CTCPM, visited Zurich from May 26 to June 2, 2024. They reached an agreement on establishing ADEX RDC SA, a new collaboration framework between FOMIN and ADEX to negotiate the Framework Collaboration Agreement in… Read More Here
CMOC Group Overtakes Glencore as Top Cobalt Producer 26 Cobalt Battery Metals Mining in DRC 

CMOC Group Overtakes Glencore as Top Cobalt Producer

Constance
China’s CMOC Group Ltd. has solidified its position as the world’s leading cobalt producer, generating more than three times the output of its well-known rival, Glencore Plc. This significant surge in production has further depressed cobalt prices. Last year, CMOC surpassed Glencore to become the top producer. Recent first-half output figures reveal a widening gap between the two companies. While Glencore’s production fell 27% to 15,900 tons, CMOC’s output more than doubled to 54,024 tons, nearing its full-year production guidance. Cobalt prices have dropped 70% from their peak around two… Read More Here

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