Mining in DRC - Copperbelt Katanga Mining

Kamoto Copper Company’s Bank Accounts Unfrozen Amid Financial Reforms

November 17, 2024November 17, 2024 Constance

Kamoto Copper Company (KCC), a leading cobalt producer in the Democratic Republic of Congo (DRC), has had its bank accounts unfrozen following a decision reached during a working session at the Ministry of Finance on Tuesday. The meeting, which was attended by the Governor of Lualaba, Fifi Masuka, and KCC representatives, marked a significant step towards resolving the financial restrictions that have impacted the company since November 2022. The decision to unfreeze KCC’s accounts, according to Finance Minister Doudou Fwamba, is aimed at safeguarding the social interests of the Lualaba… Read More Here

Mining in DRC Events & Expos Governance

DRC Prime Minister Highlights War Impact on Biodiversity at COP29

November 17, 2024November 17, 2024 Constance

Judith Suminwa, Prime Minister of the Democratic Republic of Congo (DRC), raised significant concerns about the threats facing her country’s biodiversity during a speech at the United Nations Climate Change Conference (COP29) in Baku, Azerbaijan, on Wednesday. She attributed the dangers to the ongoing conflict in the eastern DRC, which she blamed on Rwanda. “My country’s biodiversity is in peril due to the war unjustly imposed by Rwanda,” Suminwa stated. “This crisis forces us to divert a substantial portion of our budget towards military efforts and the protection of our… Read More Here

Mining in DRC Cobalt Copper Lithium

Vital Kamerhe Calls for Reflection on DRC’s Mining Challenges

November 17, 2024November 17, 2024 Constance

The Democratic Republic of Congo (DRC), rich in minerals like cobalt, copper, and lithium, faces significant challenges in its extractive sector. Despite its vast resources, issues such as illicit mining, environmental pollution, corruption, and poor working conditions persist. On November 13, 2024, during a plenary session, President of the National Assembly Vital Kamerhe called for a reassessment of the country’s mining sector. He highlighted the involvement of government officials, including some deputies and ministers, in illegal mining operations, and lamented the existence of “illegal protectors” in the sector. Minister of… Read More Here

Mining in DRC Economy Gold News in Brief

DRC Loses Billions to Gold Mining Fraud, Warns DRC Gold Trading

November 17, 2024November 17, 2024 Constance

The Democratic Republic of Congo (DRC) is facing significant financial losses in its mining sector due to widespread fraud. Joseph Kazibaziba, Managing Director of DRC Gold Trading SA, a company operating in the gold mining industry, revealed that “more than 50 tons of gold are fraudulently exported to the east coast of Congo, amounting to over 5 billion USD.” He acknowledged that one of the major challenges remains integrating the substantial quantity of gold extracted through artisanal methods back into the official economy. The causes of this fraud are numerous,… Read More Here

Mining in DRC

President Kamerhe Urges Action Against Foreign Control of DRC’s Mining Sector

November 17, 2024November 17, 2024 Constance

In a powerful address to the National Assembly, President Vital Kamerhe voiced strong concerns about the overwhelming presence of foreign nationals, particularly Chinese and Somalis, in the mining sites of the Democratic Republic of Congo (DRC). Speaking on November 13, 2024, during a hearing with the Minister of Mines, Kamerhe painted a grim picture of the country’s mining situation, highlighting practices he deemed unacceptable. He specifically called attention to the protection of foreign operations by certain national security forces. “The presence of Chinese and Somalis in all mining sites is… Read More Here

Mining in DRC Gold

Primera Gold Rebrands as DRC Gold Training, Strengthens National Governance in the Gold Sector

November 17, 2024November 17, 2024 Constance

Mining company Primera Gold has officially rebranded as DRC Gold Training, marking a significant shift in the management of the country’s artisanal gold sector. This transformation comes under the stewardship of the Congolese state, which now holds a 55% majority stake in the company. Along with the state’s ownership, the Mining Fund for Future Generations has acquired 30% of the shares, and Gécamines holds 15%. This new structure underscores the government’s commitment to placing the management of artisanal gold mining at the heart of national interests, ensuring that local stakeholders… Read More Here

Mining in DRC Battery Metals Cobalt

Tackling Traceability Challenges in the Congolese Cobalt Supply Chain

November 16, 2024November 16, 2024 Constance

The Congolese mining sector has long grappled with mineral traceability issues, particularly within its cobalt supply chain. In April 2024, the NGO Ressource Matters published a study titled “Study the Risks in Your Cobalt Supply Chain”. This research mapped over 280 entities spanning the cobalt supply chain—from miners to end consumers—highlighting the social and environmental risks associated with cobalt extraction. The study aimed to assist companies in aligning with international standards for responsible sourcing. The Complexities of Traceability Ressource Matters identifies the foremost challenge for companies using cobalt: tracing its… Read More Here

Mining in DRC Events & Expos

DRC Minister of Mines Highlights Nation’s Mining Ambitions at Inaugural Mining & Energy House Event

November 15, 2024November 15, 2024 Constance

The Makutano Network 2024 Economic Forum, held in Kinshasa, served as a pivotal platform for advancing inclusive and sustainable growth strategies in the Democratic Republic of Congo (DRC) and the broader Central African region. Bringing together prominent leaders in innovation and development, the forum underscored a vision for Africa’s economic prosperity built on sound policies and responsible partnerships. At the Mining & Energy House, the event commenced with an inaugural speech by the DRC’s Minister of Mines, Kizito Pakabomba. The Minister emphasized the country’s ambition to leverage its vast mineral… Read More Here

Mining in DRC Governance

DRC Advances Local Content Law with New Subcontracting Guide

November 12, 2024November 12, 2024 Constance

The recent signing of the Sectoral Guide on Subcontracting marks a major step forward in the Democratic Republic of Congo’s efforts to implement the Local Content Law, which is currently in development. This new guide aims to streamline the application of legal texts governing subcontracting across key sectors of the national economy. After months of collaborative work between the Agence de Régulation de la Sous-Traitance dans le Secteur Privé (ARSP) and the Federation of Congolese Enterprises (FEC), representatives from both organizations officially signed the validation report of the subcontracting sectoral… Read More Here

Diamond Mining in DRC

MIBA Faces Major Revival Challenges Amid Diamond Production Halt and Financial Struggles

November 12, 2024November 12, 2024 Constance

The situation at Société Minière de Bakwanga (MIBA), a major mining company in Kasaï-Oriental province, remains critical. According to the latest data from the Cellule Technique de Coordination et de Planification Minière (CTCPM) within the Congolese Ministry of Mines, MIBA did not produce any diamonds in the second quarter of 2024 (April to June). In stark contrast, Société Anhui Congo d’Investissement (Sacim), another diamond producer in the region, reported over 873,000 carats produced during the same period, accounting for nearly 98% of the region’s industrial output, according to the Ministry.… Read More Here