Mining in DRC - Copperbelt Katanga Mining

Norinco Revises Bid for Chemaf’s Congo Mines, Offering Bigger State Stake 1

China North Industries Corp (Norinco) has revised its $1.4 billion bid to acquire copper and cobalt assets from Chemaf SA by offering the Democratic Republic of the Congo (DRC) a larger stake to ease government concerns, sources familiar with the matter told Reuters. Norinco’s offer, initially submitted in June 2023, stalled after Congo’s state miner, Gécamines, made its own unsolicited bid for the assets. The situation has been further complicated by U.S. efforts to curb China’s dominance in the mineral-rich Copperbelt. To push the deal forward, Norinco has proposed increasing… Read More Here

Transport and Logistics Angola Mining in DRC Mining in Zambia

U.S. Aid Freeze Puts Africa’s Critical Minerals Corridor at Risk

February 21, 2025February 21, 2025 Constance0 comment

A billion-dollar expansion of Africa’s most strategic U.S.-backed critical minerals project is now in limbo due to a foreign aid freeze under the Trump administration—creating an opening for China to expand its influence. At the center of the crisis is the Lobito Corridor railway project, a key infrastructure initiative designed to transport copper and cobalt from the Central African Copperbelt—home to some of the world’s richest deposits—to the Angolan coast for export to Western markets. The project was set to receive funding from the U.S. International Development Finance Corp. (DFC)… Read More Here

Mining in DRC Cobalt Copper Corporate News

Glencore Rejects Unsolicited Bid for DRC Operations

February 17, 2025February 17, 2025 Constance0 comment

Miner and commodity trader Glencore has confirmed that it rejected an unsolicited offer for its operations in the Democratic Republic of Congo (DRC) at the end of last year. “Glencore has not engaged any banks or advisors and is not running a sale process for its operations in the DRC,” a company spokesperson stated in an email. Earlier, the Financial Times reported that Glencore had considered selling part or all of its Congolese assets and had engaged in preliminary discussions with a potential buyer from the Middle East regarding its… Read More Here

Mining in DRC Governance

President Tshisekedi Attends Munich Security Conference Amid Regional Tensions

February 16, 2025February 16, 2025 Constance0 comment

President Félix-Antoine Tshisekedi Tshilombo of the Democratic Republic of Congo (DRC) arrived in Germany on Thursday, February 13, 2025, to participate in the 61st Munich Security Conference (MSC), running from February 14 to 16, 2025. He is accompanied by First Lady Denise Nyakeru Tshisekedi. The conference brings together heads of state, ministers, and leaders of international organizations to discuss key geopolitical and strategic challenges. This year’s agenda will focus on the security and humanitarian crisis in eastern DRC, following the offensive by the Rwandan army and M23 rebels on Goma.… Read More Here

Mining in DRC Economy News in Brief Silver Ore

Silver Prices Rise in the DRC Amid Growing Global Demand

February 16, 2025February 16, 2025 Constance0 comment

The price of silver, a key export mineral for the Democratic Republic of Congo (DRC), rose by 3.03% between February 10 and 15, 2025, reaching USD 1.02 per gram, up from USD 0.99 the previous week, according to the Ministry of Foreign Trade. The increase reflects growing industrial demand, particularly in green technologies and electronics, where silver plays a crucial role. Additionally, global economic uncertainties and currency fluctuations have reinforced silver’s status as a safe-haven asset. As Africa’s leading silver producer, the DRC stands to benefit from higher prices through… Read More Here

Mining in DRC Corporate News Gold

Loulo-Gounkoto Overtakes Kibali as Africa’s Top Gold Mine in 2024

February 16, 2025February 16, 2025 Constance0 comment

With a production of 723,000 ounces of gold in 2024—an increase of approximately 6% from the previous year—Mali’s Loulo-Gounkoto mining complex has become Africa’s largest gold-producing mine. It surpassed the Kibali mine in the Democratic Republic of Congo (DRC), which reported a 10% decline in output to 686,000 ounces. The statistics, released on February 12, 2025, by Barrick, highlight a major shift in gold production rankings on the continent. For years, Kibali consistently outproduced Loulo-Gounkoto, but the gap has gradually narrowed. By 2024, the roles reversed, with Kibali struggling to… Read More Here

Mining in DRC Regional conflict

Macron Urges Immediate M23 Withdrawal as Tensions Escalate in Eastern DRC

February 16, 2025February 16, 2025 Constance0 comment

French President Emmanuel Macron has called for the immediate withdrawal of M23 rebels from Bukavu and Kavumu Airport in eastern Democratic Republic of Congo (DRC). Following a meeting with Congolese President Félix Tshisekedi on Saturday, Macron emphasized the urgent need for a ceasefire and the restoration of civilian and military authority in the city. “The M23 must immediately withdraw from Bukavu and allow the prompt return of civilian and military authorities,” Macron stated. He also insisted on the liberation of Kavumu Airport to facilitate the resumption of civilian and humanitarian… Read More Here

Mining in DRC Regional conflict

Tshisekedi Accuses Rwanda of Fueling Conflict in Eastern DRC for Control of 3T Minerals

February 15, 2025February 15, 2025 Constance0 comment

Speaking at the Munich Security Conference on February 14, DRC President Félix Tshisekedi accused Rwanda of destabilizing eastern DRC to exploit its vast reserves of 3T minerals—tungsten, tin, and tantalum—which are critical for modern technology production. Tshisekedi denounced Rwanda’s territorial claims over parts of North and South Kivu, particularly Masisi and Rutshuru, labeling them an “aberration” aimed at justifying its ongoing illegal mining operations. He highlighted the Rubaya mine in Masisi, a key source of coltan and other 3T ores, as a primary target of Rwandan-backed forces. He further stated:… Read More Here

Mining in DRC

DRC Declares Mining Sites in North and South Kivu as High-Risk Zones

February 15, 2025February 15, 2025 Constance0 comment

The Minister of Mines, Kizito Pakabombe, has issued a ministerial order, signed on February 12, 2025, classifying certain mining sites in Masisi (North Kivu) and Kalehe (South Kivu) as “Red” zones due to security concerns and illicit mineral trade. The decree cites two main reasons for this decision: Details of the Ministerial Order The reclassification follows a United Nations Group of Experts report published on December 27, 2024, which confirmed that armed groups in eastern DRC, backed by a foreign national army, are exploiting mining sites to fund their activities.… Read More Here

Mining in DRC Copper

DRC Central Bank Reports Copper Price Rise Amid Global Trade Adjustments

February 15, 2025February 15, 2025 Constance0 comment

The Central Bank of Congo (BCC) has released its latest economic outlook, covering the period from January 31 to February 7, 2025. The report highlights fluctuations in key commodity prices, reflecting global market dynamics and geopolitical influences. Copper prices rose to $9,412.75 per tonne, marking a 3.68% weekly increase. The report attributes this rise to improved market confidence following the U.S. administration’s decision to postpone new customs duties on imports from key trade partners, including Canada, Mexico, and China. On a year-to-date basis, copper prices have gained 7.10%. In contrast,… Read More Here