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Category: Mining in DRC

MMG Kinsevere Signs Social Responsibility Agreement with Local Communities Near Sokoroshi 2 Mine 1 Mining in DRC Corporate social responsibility 

MMG Kinsevere Signs Social Responsibility Agreement with Local Communities Near Sokoroshi 2 Mine

Constance
On Friday, November 29, 2024, MMG Kinsevere signed a new agreement with five local communities impacted by the Sokoroshi 2 mine, located in the Bukanda sector of the Kipushi territory in Haut-Katanga, DRC. The signing took place at the multipurpose hall in Bukanda, a facility built with mining royalty funds, in the presence of various officials. Lucien Lumano, the Provincial Minister of Mines for Haut-Katanga, supervised the event and expressed his satisfaction, encouraging local communities to support MMG Kinsevere in the successful implementation of the project. “The provincial government is… Read More Here
Power Crisis in Southeast DRC Disrupts Mining Operations 2 Electricity Mining in DRC 

Power Crisis in Southeast DRC Disrupts Mining Operations

Constance
The mining sector in the southeast of the Democratic Republic of Congo (DRC) is grappling with a severe power shortage, stemming from disruptions in electricity supply from neighboring Zambia. The crisis, which began on November 24, 2024, has left mining operations—critical to the DRC’s economy—in a vulnerable state. Zambia, a key electricity supplier to the DRC, is facing dwindling water levels at its hydropower dams and delays in expanding its energy infrastructure. These challenges have led to widespread power restrictions. Meanwhile, the DRC’s own hydropower capacity is strained by rising… Read More Here
DRC's Julien Paluku Promotes Investment Opportunities at MEDays Forum 3 Mining in DRC Events & Expos 

DRC’s Julien Paluku Promotes Investment Opportunities at MEDays Forum

Constance
Julien Paluku, the Democratic Republic of Congo’s (DRC) Minister of Foreign Trade, utilized the MEDays Forum in Tangier, Morocco, to highlight the country’s vast economic and industrial opportunities to Moroccan and international investors. His focus spanned trade, agribusiness, energy, and the growing battery and electric vehicle sectors. Joined by Judith Suminwa, Head of the Congolese Government, Paluku underscored the DRC’s rich reserves of strategic minerals like cobalt and lithium, critical to the global energy transition. He detailed efforts to improve the business climate, enhance infrastructure, and foster public-private partnerships to… Read More Here
AVZ Minerals Secures $15 Million Litigation Funding for DRC Disputes 4 Mining in DRC Corporate News Lithium 

AVZ Minerals Secures $15 Million Litigation Funding for DRC Disputes

Constance
AVZ Minerals Limited, a lithium mining company, has secured $15 million in litigation funding from Locke Capital II to support its legal efforts related to disputes over its mining projects, including the Manono project in the Democratic Republic of Congo (DRC). AVZ CEO Nigel Ferguson expressed satisfaction with the agreement, stating on November 28: “Locke, a global litigation funder with a strong track record, has approved funding for AVZ, validating our strong position in these disputes and paving the way for a successful resolution.” The company plans to draw an… Read More Here
Copper Prices to Fall 2.85% in November 2024, Impacts DRC Economy 5 Mining in DRC Copper Economy 

Copper Prices to Fall 2.85% in November 2024, Impacts DRC Economy

Constance
Copper, a key mineral for the Democratic Republic of Congo’s (DRC) economy, is expected to experience a notable price decline on international markets. Between November 25 and 30, 2024, copper is forecast to trade at USD 8,924.05 per ton, marking a 2.85% decrease from the previous period when it was priced at USD 9,186.25. This drop is part of a broader trend in which several other metals, including zinc, tin, gold, and silver, have also seen price reductions. Zinc is now trading at USD 29,490.05, down 0.64%, while gold has… Read More Here
DRC’s Coltan Exports Generate $6.7 Million Amid Challenges in the First Quarter of 2024 6 Mining in DRC Coltan Economy 

DRC’s Coltan Exports Generate $6.7 Million Amid Challenges in the First Quarter of 2024

Constance
The Democratic Republic of Congo (DRC) maintained its pivotal role in the global coltan market during the first quarter of 2024, exporting 265.90 tons of coltan valued at $6.7 million, according to official data. Artisanal mining dominated production, accounting for 242.30 tons during this period. This form of mining, prevalent in North and South Kivu provinces, often takes place under precarious conditions with minimal regulation. Coltan, a critical mineral for the electronics industry, is essential for manufacturing components like capacitors. The rising global demand, driven by advancements in digital technologies,… Read More Here
DRC Faces Budget Deficit of $164 Million Amid Rising Public Expenditures 7 Mining in DRC Economy 

DRC Faces Budget Deficit of $164 Million Amid Rising Public Expenditures

Constance
The Democratic Republic of Congo (DRC) reported a budget deficit of approximately 575.9 billion Congolese Francs (CDF), equivalent to over $164 million, as of November 13, 2024, according to the Central Bank of Congo (BCC). Public revenues totaled 22,548.8 billion CDF for the year, while expenditures reached 23,124.7 billion CDF, highlighting a financial imbalance that raises concerns about the sustainability of public finances and the government’s capacity to fulfill its obligations. Economic analysts attribute this deficit to surging expenditures, particularly on civil servant salaries and exceptional outlays. A significant portion… Read More Here
President Tshisekedi Opens 11th Governors' Conference in Kalemie 8 Mining in DRC Governance 

President Tshisekedi Opens 11th Governors’ Conference in Kalemie

Constance
President Félix-Antoine Tshisekedi Tshilombo presided over the 11th Governors’ Conference on Wednesday, November 27, 2024, in Kalemie, Tanganyika Province. This annual event serves as a platform for dialogue between provincial governors and the national executive. Spanning three days, from November 27 to 29, the conference gathers governors elected during the December 2023 electoral process. They will engage with experts and senior officials with extensive experience at the national level to exchange knowledge and insights. This year’s discussions center on the Local Development Program of the 145 Territories (PDL 145-T) under… Read More Here
DRC Plans Strategic Partnership with China to Advance Transport and Infrastructure Projects 9 Mining in DRC Governance Infrastructural Development Transport and Logistics 

DRC Plans Strategic Partnership with China to Advance Transport and Infrastructure Projects

Constance
The Democratic Republic of Congo (DRC) is strengthening its collaboration with China to accelerate development in key sectors, including transport. Deputy Prime Minister and Minister of Transport, Communication Routes, and Disenclavement, Jean-Pierre Bemba Gombo, emphasized this partnership during a Council of Ministers meeting on November 22, 2024. Bemba presented an information note detailing efforts to prepare a comprehensive list of projects to be submitted to Chinese financial institutions as part of the Sino-Congolese cooperation framework. According to the minutes of the Council of Ministers, the finalized project lists were discussed… Read More Here
DRC Gold Sector Shines with Over 7 Tons Produced in Q1 2024 10 Mining in DRC Economy Gold 

DRC Gold Sector Shines with Over 7 Tons Produced in Q1 2024

Constance
In the first quarter of 2024, the Democratic Republic of Congo (DRC) achieved remarkable gold production, totaling 7,153.58 kilograms. This highlights the nation’s vast gold potential, despite ongoing challenges in the sector. Data from the Technical Cell for Coordination and Mining Planning reveals that industrial mining dominated production with 6,462.61 kilograms, led by Kibali Gold Company, which contributed 6,445.61 kilograms. The MCC Company added 17 kilograms to this total. Meanwhile, artisanal mining accounted for 690.97 kilograms, underscoring its significance in the local economy, where thousands of miners rely on gold… Read More Here

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