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Category: Mining in DRC

Glencore’s Kamoto Copper Faces Royalties Dispute Amid Ties to Dan Gertler 1 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 2 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 3 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 4 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 5 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
DRC Mining Firms Forced to Import Power Amid Severe Electricity Shortages 6 Mining in DRC Electricity 

DRC Mining Firms Forced to Import Power Amid Severe Electricity Shortages

Constance
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
Glencore's Kamoto Copper Mine Faces $894 Million Royalty Dispute in DRC 7 Mining in DRC Cobalt Copper Mining tax 

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

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
Felix Tshisekedi Contracts Mining in DRC 

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

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
South Kivu Governor Lifts Suspension on Mining Companies 8 Mining in DRC 

South Kivu Governor Lifts Suspension on Mining Companies

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
U.S. Strengthens Partnership with DRC to Enhance Mineral Processing at UN General Assembly 9 Mining in DRC Copper Governance 

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

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

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