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Category: Mining in DRC

DRC's Mining Sector Reaffirmed as Backbone of DRC Economy at DRC Mining Week 1 Mining in DRC Economy Events & Expos 

DRC’s Mining Sector Reaffirmed as Backbone of DRC Economy at DRC Mining Week

Constance
As the 20th anniversary edition of DRC Mining Week opened in Lubumbashi, Haut-Katanga, Bin Nassor Kasongo, President of the Chamber of Mines of the Democratic Republic of Congo, underscored the pivotal role of mining in the country’s economic development. “From 2007 to 2022, our mining industry contributed nearly $30 billion to the public treasury, making the mining sector the backbone of the Congolese economy,” Kasongo stated during his keynote speech at the Pullman Karavia Hotel. He credited this achievement to the early vision of industry pioneers and reaffirmed the Chamber’s… Read More Here
Glencore Declares Force Majeure on Cobalt Shipments Following DRC Export Ban 2 Mining in DRC Battery Metals Cobalt Corporate News 

Glencore Declares Force Majeure on Cobalt Shipments Following DRC Export Ban

Constance
Glencore has declared force majeure on certain cobalt deliveries from the Democratic Republic of Congo (DRC), just days after the Congolese government imposed a temporary export ban on the key battery metal, according to three sources familiar with the matter who spoke to Reuters. The DRC, which produces the majority of the world’s cobalt, enacted a four-month export ban in February in a bid to ease a supply glut that had depressed prices to their lowest levels in nine years and reduced government revenue. As a result, Glencore, listed on… Read More Here
Ivanhoe Mines Cuts 2025 Copper Guidance After Seismic Flooding Disrupts Kamoa-Kakula Operations 3 Mining in DRC Copper Corporate News 

Ivanhoe Mines Cuts 2025 Copper Guidance After Seismic Flooding Disrupts Kamoa-Kakula Operations

Constance
Ivanhoe Mines has lowered its 2025 copper production forecast for the Kamoa-Kakula complex in the Democratic Republic of Congo (DRC), following a temporary suspension of underground operations at the Kakula mine due to severe flooding caused by seismic activity. The incident, which occurred on May 18, forced a full shutdown of the Kakula underground mine and triggered an extensive geotechnical review. In response, Ivanhoe has implemented a revised short-term mine plan. Underground mining resumed on the western side of the Kakula mine over the past weekend, with operations on the… Read More Here
Red Rock Resources Nears Landmark Supreme Court Ruling in $20M DRC Asset Dispute 4 Mining in DRC 

Red Rock Resources Nears Landmark Supreme Court Ruling in $20M DRC Asset Dispute

Constance
Natural resource exploration and development firm Red Rock Resources announced that it is approaching a key breakthrough in its ongoing legal battle in the Democratic Republic of Congo (DRC), with a ruling from the country’s Cour de Cassation (Supreme Court) expected imminently. The anticipated judgment is central to resolving Red Rock’s dispute over a contested $20 million sale of copper and cobalt assets near Kolwezi—an agreement the company alleges was executed without its knowledge or consent. This Supreme Court decision is expected to have a significant impact on a parallel… Read More Here
DRC Suspended Mining Rights Applications to Reform Cadastral System 5 Mining in DRC 

DRC Suspended Mining Rights Applications to Reform Cadastral System

Constance
The Democratic Republic of Congo’s Mining Registry (CAMI) temporarily suspended the processing of new applications for mining rights and exploration quarries. Effective May 31, 2025, the CAMI office closed its counter to all new submissions until further notice, marking a significant pause in the issuance of mining titles. This decision was made in accordance with directives from the Minister of Mines, outlined in an official letter dated May 28, 2025. The primary aim of the suspension was to allow CAMI to conduct a comprehensive cleanup of the national cadastral database.… Read More Here
AFC Secures $320 Million Deal with Italy to Boost Angola's Lobito Corridor 6 Transport and Logistics Angola Economy Mining in DRC Mining in Zambia 

AFC Secures $320 Million Deal with Italy to Boost Angola’s Lobito Corridor

Constance
Africa Finance Corporation (AFC), a Lagos-based continental financier, will soon sign a $320 million financing agreement with Italy, part of which will support the development of a new transport corridor linking critical mineral fields in central Africa to Angola’s Lobito port, according to AFC CEO Samaila Zubairu. AFC, owned by African central banks and development lenders, is the financing partner for the U.S.-backed Lobito Corridor project. The corridor aims to connect the Atlantic port of Lobito in Angola with mineral-rich regions in Zambia and the Democratic Republic of the Congo,… Read More Here
World Bank Commits $1 Billion to Revive DRC’s Inga III Hydropower Megaproject 7 Mining in DRC Hydro power plant 

World Bank Commits $1 Billion to Revive DRC’s Inga III Hydropower Megaproject

Constance
The World Bank has pledged $1 billion to help revive the long-delayed Inga III hydropower project in the Democratic Republic of Congo (DRC), a crucial phase of the Grand Inga complex, which holds the potential to become the world’s largest hydropower facility. As an initial step, $250 million will be disbursed to fund technical studies, reform the state-owned electricity utility, foster economic development, and attract private investment. Once completed, Inga III could generate up to 11,000 megawatts (MW) of electricity—more than triple the DRC’s current power capacity—at an estimated cost… Read More Here
Abu Dhabi’s IRH to Acquire Majority Stake in Alphamin for Over C$500 Million 8 Mining in DRC Corporate News 

Abu Dhabi’s IRH to Acquire Majority Stake in Alphamin for Over C$500 Million

Constance
Tremont Master Holdings (TMH), the majority shareholder of U.S.-based Alphamin Resources Corp., has entered into a definitive agreement to sell 718,990,967 common shares—representing approximately 56% of Alphamin’s outstanding shares—to Abu Dhabi-based International Resource Holdings (IRH). The transaction is valued at C$503.3 million (US$367 million), based on a price of C$0.70 per share, subject to certain closing adjustments. Alphamin announced the agreement in a press release issued on Thursday, June 5, 2025. The full terms of the transaction were initially outlined in a joint press release by TMH and IRH dated… Read More Here
DRC Advances Toward Local Mineral Refining with First Copper and Cobalt Refinery Project 9 Mining in DRC Cobalt Copper 

DRC Advances Toward Local Mineral Refining with First Copper and Cobalt Refinery Project

Constance
The Democratic Republic of Congo (DRC) is preparing to halt the export of raw minerals, marking a significant step toward reducing its reliance on foreign processing and strengthening its industrial base. This development aligns with the government’s broader strategy for national economic growth and resource sovereignty. This initiative was highlighted during a meeting held on Thursday, June 5, 2025, between Minister of Foreign Trade Julien Paluku and Eddy Kioni, Director of Buenassa, a 100% Congolese-owned company spearheading the country’s first copper and cobalt refinery project. Minister Paluku commended the progress… Read More Here
Kibali Gold Dominates DRC Gold Production Despite Regional Instability 10 Mining in DRC Corporate News Gold 

Kibali Gold Dominates DRC Gold Production Despite Regional Instability

Constance
According to statistics from the Technical Unit for Coordination and Mining Planning (CTCPM) under the Ministry of Mines, Kibali Gold, a leading industrial gold mining company based in the Haut-Uele province of the Democratic Republic of Congo (DRC), produced 5,865.62 kilograms of gold between January and March 2025. This output represents 99.5% of the country’s total industrial gold production during that period. Kibali Gold significantly outperformed its competitors. MCCR recorded just 18.65 kg (0.3%), followed by Kimia Mining Investment with 4.88 kg (0.083%) and Sokomo (Ding Cheng) with 4.62 kg… Read More Here

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