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Category: Mining in DRC

DRC Prime Minister Announces Temporary Suspension of Business Audits 1 Mining in DRC Economy Governance 

DRC Prime Minister Announces Temporary Suspension of Business Audits

Constance
Prime Minister Judith Suminwa has declared a nationwide moratorium on state control missions targeting businesses, addressing concerns raised by the Federation of Congolese Enterprises (FEC) about administrative challenges during the fiscal year-end. The suspension, effective from December 16, 2024, to January 30, 2025, aims to ease pressure on businesses during this crucial period. “I have decided to grant a moratorium on all tax audits, non-tax revenue audits, and routine economic audits to allow economic operators to prepare their financial statements with peace of mind,” the Prime Minister stated in a… Read More Here
Zijin Mining to Begin Lithium Production in the DRC Amid Legal Disputes 2 Mining in DRC Battery Metals Lithium New Mining Projects 

Zijin Mining to Begin Lithium Production in the DRC Amid Legal Disputes

Constance
China’s Zijin Mining Group Co. is set to commence lithium production in the Democratic Republic of Congo (DRC) early next year, leveraging one of the world’s largest deposits of the battery metal. Zijin is ramping up development at the Manono project in southeastern Congo, despite an ongoing legal dispute with Australia’s AVZ Minerals Ltd. AVZ has initiated arbitration against the DRC government, claiming the project’s exploration license was unlawfully reassigned. The Manono project, slated to begin production in Q1 2026, will be the first operational lithium mine in Congo, a… Read More Here
COMILU Granted Eligible Customer Status by DRC Electricity Authority 3 Mining in DRC Electricity 

COMILU Granted Eligible Customer Status by DRC Electricity Authority

Constance
On December 23, 2024, Sandrine Mubenga Ngalula, the Director General of the Electricity Regulatory Authority (ARE) in the Democratic Republic of Congo (DRC), announced that the Luisha Mining Company (COMILU), based in Lualaba province, had been granted “eligible customer” status. This status was officially confirmed during a compliance notice presentation to the company’s delegation, led by Li, the head of COMILU. In an unusual move, the eligibility status was conferred directly by the Director General of ARE, rather than through the customary ministerial decree from the Minister of Water Resources… Read More Here
Tshisekedi Promotes DRC as Investment Hub During Visit to Qatar 4 Mining in DRC Economy 

Tshisekedi Promotes DRC as Investment Hub During Visit to Qatar

Constance
On Sunday, January 5, 2025, in Doha, President Félix Tshisekedi of the Democratic Republic of Congo (DRC) highlighted the country as a prime destination for investment, in the presence of his counterpart, Emir Tamim Bin Hamad Al-Thani of Qatar. During the meeting, President Tshisekedi emphasized the favorable business climate in the DRC, offering opportunities for both local and foreign investors and paving the way for mutually beneficial partnerships. A statement from the Congolese presidency confirmed that at the Diwan Amiri Palace in Doha, the two leaders discussed strengthening bilateral cooperation,… Read More Here
DRC Govt Launches $70 Million Treasury Bond Auction to Strengthen Financial Resources 5 Mining in DRC Economy 

DRC Govt Launches $70 Million Treasury Bond Auction to Strengthen Financial Resources

Constance
The Government of the Democratic Republic of Congo (DRC) has announced the opening of a $70 million Treasury Bond auction on January 7, 2025, as part of its efforts to bolster national finances amidst ongoing challenges. This was confirmed in a press release from the Ministry of Finance on January 6, 2025. The bond issuance aims to enhance the state’s financial stability at the beginning of the year and is critical to addressing the country’s persistent economic difficulties. For this initial offering, the interest rate remains at 9%, the same… Read More Here
DRC Secures $324 Million Annually in Revised Chinese Mining Contract 6 Mining in DRC Economy 

DRC Secures $324 Million Annually in Revised Chinese Mining Contract

Constance
The Democratic Republic of Congo (DRC) is set to receive 957.2 billion Congolese Francs (CDF), equivalent to $324 million, in annual royalties under a revised contract with Chinese companies, effective in 2025. This amendment, signed in January 2024, seeks to enhance infrastructure investment in the country. Key Terms of the Agreement Funds from the agreement will primarily support the construction of roads and other essential infrastructure, a move aimed at opening up remote provinces and fostering regional connectivity. The revised contract was prompted by a study conducted by the General… Read More Here
DRC to Establish Independent Commission to Combat Fraud in Mining Sector 7 Mining in DRC 

DRC to Establish Independent Commission to Combat Fraud in Mining Sector

Constance
The Democratic Republic of Congo (DRC) is taking decisive steps to address escalating fraudulent practices within its mining sector. Following a ministerial meeting chaired by Deputy Prime Minister for the Interior, Shabani Lukoo, on Tuesday, January 7, 2025, the establishment of an independent commission to tackle these issues was announced, according to his communications unit. The new commission will focus on analyzing fraudulent practices and proposing solutions to effectively combat smuggling and fraud that undermine the national economy. This initiative seeks to enhance transparency and integrity in mining activities, ensuring… Read More Here
CMOC Group Achieves Record Cobalt Production with African Expansion 8 Mining in DRC Battery Metals Cobalt Corporate News 

CMOC Group Achieves Record Cobalt Production with African Expansion

Constance
China’s CMOC Group set a new benchmark in global cobalt production in 2024, thanks to a rapid increase in output from its African mining operations. The company announced it produced 114,165 tonnes of cobalt last year, nearly doubling the 55,526 tonnes achieved in 2023. This output far exceeded its 2024 guidance of 70,000 tonnes, solidifying CMOC’s status as the world’s leading cobalt supplier. In 2023, CMOC overtook Glencore as the largest global cobalt producer, driven by significant production gains from its Kisanfu mine in the Democratic Republic of Congo (DRC),… Read More Here
DRC Ratifies Hydrocarbon Cooperation Agreement with Uganda 9 Mining in DRC Oil & Gas 

DRC Ratifies Hydrocarbon Cooperation Agreement with Uganda

Constance
Following approval by both the National Assembly and Senate during the September session, Law No. 24/022 of December 30, 2024, authorizing the ratification of a cooperation agreement on the exploitation of hydrocarbons and joint deposits between Uganda and the Democratic Republic of Congo (DRC), has been promulgated by President Félix-Antoine Tshisekedi. The announcement was made on Tuesday, December 31, 2024, through a series of orders broadcast on national television (RTNC). This ratified agreement, signed in Kampala on June 23, 1990, and January 25, 2008, was presented by Minister of Hydrocarbons,… Read More Here
Copper Prices Remain Volatile, Straining DRC's Economy 10 Mining in DRC Copper Economy 

Copper Prices Remain Volatile, Straining DRC’s Economy

Constance
Copper, the Democratic Republic of Congo’s (DRC) main export product, continues to experience significant price fluctuations on international markets. According to the latest data from the National Commission of Mercuriales at the Ministry of Foreign Trade, the price of copper dropped to 8,824 US dollars per ton during the week of December 30, 2024, to January 4, 2025, marking a decrease of 1.33% compared to the previous week. This ongoing volatility is causing concern for the Congolese economy, which relies heavily on copper exports for revenue. Experts warn that these… Read More Here

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