Mining in DRC - Copperbelt Katanga Mining

President Tshisekedi calls for sanctions against Rwanda During visit to Germany 1

After a two-hour tête-à-tête between President Félix Tshisekedi and Federal Chancellor Olaf Scholz on Sunday in Berlin, Germany, their respective delegations held a working meeting during which they discussed economic cooperation and the security crisis in the eastern Democratic Republic of Congo (DRC). “The Germans reaffirmed their commitment to the sovereignty of the DRC and denounced the Rwandan military presence on Congolese territory. We insisted that declarations are good, but action is even better,” said Christophe Lutundula, Deputy Prime Minister (VPM), Minister of Foreign Affairs. According to Lutundula, “we need… Read More Here

Mining in DRC Cobalt Coltan Regional conflict Tin

Opposition Leader Martin Fayulu Accuses Rwandan Army of Collusion with M23 in Rubaya

May 3, 2024May 3, 2024 Constance0 comment

Opposition figure Martin Fayulu has condemned the presence of the Rwandan army alongside M23 militants in the mining town of Rubaya, located in the Masisi territory of North Kivu province. Fayulu, expressing his criticism via his X account, accused the Rwandan M23 army of controlling Rubaya, suggesting Rwanda’s increased access to Congolese coltan. Amidst this, Fayulu highlighted the plight of Congolese citizens affected by floods in Kalemie and Uvira, denouncing the government’s apparent lack of assistance and expenditure on unnecessary trips. Rubaya, known for its rich mineral resources including coltan,… Read More Here

Mining in DRC

Concerns Rise Over Military Presence at Mining Sites in Maniema Province

May 3, 2024May 3, 2024 Constance0 comment

Local civil society in the Maniema province of the Democratic Republic of Congo (DRC) is raising alarm over the presence of DRC armed forces at various mining sites in the Lubutu territory. Jean Pierre Mutolo Mumbere, President of the active forces of civil society, highlights that this military presence poses a threat to the security of peaceful citizens in areas like Masaba, Nzigida, Cholo, Magiatani, Etogo, and others. Mutolo condemns the reported actions of certain soldiers against the local population, including harassment and torture, and urges political and administrative authorities… Read More Here

Mining in DRC

Moïse Katumbi Exposes Corruption Scandal in Congolese Mining Sector

May 3, 2024May 3, 2024 Constance0 comment

Moïse Katumbi, a prominent Congolese opposition figure and former governor of Katanga, has raised concerns about a corruption scandal involving the public mining company COMINIERE and a mysterious Congolese NGO in the lithium exploitation project in Manono with Australian firm AVZ. According to Katumbi, after the sale of shares in COMINIERE, a significant sum of $70 million was transferred to the accounts of an NGO, whose president is an administrator of the public company. He highlighted that $40 million of this amount mysteriously disappeared. Katumbi implicated a Chinese subsidiary of… Read More Here

Mining in Zambia Copper Mining in DRC

Zambia’s Mineral-Rich Copperbelt Seeks New Investment

May 3, 2024May 3, 2024 Constance0 comment

Zambia’s economy hinges significantly on copper production, with the Copperbelt region, spanning the border between Zambia and the Democratic Republic of Congo (DRC), serving as its mainstay. This mineral-rich area contributes 90% to the country’s GDP and employs the majority of its populace, generating about 70% of national revenue. With over a tenth of the world’s copper reserves, Zambia ranks among the top global producers, aiming to boost production to 3 million tons by 2032. Critical mineral supply chains have become focal points for development partnerships. Last October, Zambia and… Read More Here

Gold Mining in DRC Mining Projects

Barrick to Ramp Up Production As It Remains On Track to Achieve 2024 Targets

May 3, 2024May 3, 2024 Constance0 comment

Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) has reported its first quarter results which were in line with guidance and position the Company well to meet its full year targets. Gold production is expected to ramp up steadily during the year, supported by the completion of the Pueblo Viejo plant expansion and the resumption of operations at the Porgera mine. Additionally, copper production is also on track to meet the full year’s guidance. Reporting its Q1 results, Barrick said lower production and the consequent higher costs reflected the delayed ramp up at Pueblo… Read More Here

Press Release Mining in DRC Mining Projects

Ivanhoe Mines Releases 2024 Q1 Financials and Project Updates

May 3, 2024May 3, 2024 Constance0 comment

Kamoa-Kakula sold 85,155 tonnes of payable copper during the quarter and recognized revenue of $618 million, as well as EBITDA of $365 million Ivanhoe Mines recorded Q1 2024 loss of $69 million, primarily as a result of non-cash loss on convertible bonds due to 26% quarterly share price increase; normalized profit of $70 million and adjusted EBITDA of $126 million Kamoa-Kakula produced 86,203 tonnes of copper in Q1 2024; annual production guidance for Kamoa-Kakula maintained at between 440,000 to 490,000 tonnes of copper Kamoa-Kakula’s quarterly cost of sales total $1.50/lb.… Read More Here

Mining in DRC Coltan Regional conflict Tin

M23 Rebels Seize Control of Coltan Mining Town in Eastern DRC

May 2, 2024May 2, 2024 Constance0 comment

M23 rebels in the eastern Democratic Republic of Congo have captured Rubaya, a vital mining town known for its coltan reserves, following days of intense conflict, according to a rebel spokesperson. Eastern Congo has endured violence since the 1990s, fueled by struggles over identity, ethnicity, and resources, resulting in millions of deaths and the emergence of numerous armed groups. Willy Ngoma, the spokesperson for the Tutsi-led M23 militia, stated that they had taken control of Rubaya in North Kivu province after confronting other armed factions, including the Forces for the… Read More Here

Mining in DRC Lithium Mining Personality

Tantalex Lithium Resources Corp. Announces Private Placement and Appointment of Senior Advisor

May 1, 2024May 1, 2024 Constance0 comment

Toronto, Ontario, April 29th, 2024 – Tantalex Lithium Resources Corp. (CSE: TTX – FSE: DW8 – OTCQB: TTLXF) (“Tantalex” or the “Corporation”) is thrilled to unveil a non-brokered private placement initiative, representing a significant milestone for the company’s growth trajectory. The private placement comprises approximately 117,090,857 common shares (the “Common Shares”) at a favorable price of $0.035 per Common Share, aiming to generate gross proceeds of up to USD$3,000,000 (the “Private Placement”). The primary allocation of the proceeds from the Private Placement will be directed towards critical project expenditures geared… Read More Here