Mining revenue - Copperbelt Katanga Mining

DRC Mining Directorates Generate Over $500 Million Between 2020-2021

April 18, 2023April 18, 2023 Constance

According to statistics from the Extractive Industries Transparency Initiative (EITI), the various Mining Directorates located in the provinces of the Democratic Republic of Congo (DRC) produced more than 500 million US dollars in the period 2020. -2021. The report produced by the EITI informs that the various Directorates collected nearly 528.7 million USD from the extractive sector during the period indicated. The province of Lualaba is placed at the top of the list (62.8%), followed by Haut-Katanga (34.2%).Revenues mobilized by Haut-Uele and Kasaï-Oriental represent 2.3% and 0.5% respectively. At the bottom… Read More Here

Mining in DRC Mining revenue

DR Congo’s Mining Companies Raise $3.5B in 2020-2021

April 9, 2023April 9, 2023 Constance

More than US$3.5 billion has been mobilized by five of the nine state-owned mining companies in the Democratic Republic of Congo (DRC) during the period from 2020 to 2021. This is what the report of the initiative for transparency in the extractive industries (ITIE) informs. EITI researchers indicate that five (5) of the nine (9) mining companies under public law have made payments as part of the effort to contribute to the state budget. These are the following public enterprises (EP): GECAMINES, COMINIERE, SAKIMA, SODIMICO and SACIM.During this period, GECAMINES paid… Read More Here

Mining in DRC Mining revenue

DRC mines paid public companies $189.8M+ in royalties and key money between 2021-22

April 7, 2023April 7, 2023 Constance

Public companies in the mining sector of the Democratic Republic of Congo (DRC) have, during the period between 2020 and 2021, received 189.8 million US dollars in royalties and key money, informs the report of the Extractive Industries Transparency Initiative (EITI). According to this report, state-owned companies in the mining sector collected more than USD 122.4 million in royalties and bonuses in 2020. These revenues will decrease significantly the following year, i.e. 2021, to settle at 67.2 million USD in royalties and key money. During this period, Gecamines collected more… Read More Here

Mining in Zambia Copper Gold Mining revenue

ZCCM-IH Shareholders Approve the Kansanshi Royalty Transaction

April 3, 2023April 3, 2023 Constance

ZCCM Investments Holdings Plc (ZCCM-IH) shareholders have approved the Kansanshi royalty conversion where the Company will now receive 3.1% of Kansanshi Mining Plc’s (Kansanshi) total revenue. The royalty revenue will be paid on a quarterly basis over the entire life of the mine of Kansanshi that currently extends to the year 2045. The approval was given at the Shareholder’s Extraordinary General Meeting (EGM) held in Kitwe on 31st March 2023. The royalty income stream replaces the former model of unpredictable and unguaranteed dividend pay-outs. These were made at the discretion… Read More Here

Mining revenue Contracts & tenders

Panama Govt negotiates for Minimum $375m annual Revenues from FQM

March 10, 2023March 11, 2023 Constance

African governments and Zambia’s new dawn government in particular may have a lesson to learn from Central American negotiation skills after the confirmation that the Panama government has secured a minimum of $375 million per annum from First Quantum Minerals – FQM. In a note shared with the Zambian Business Times – ZBT, has announced that its Panamanian subsidiary, Minera Panamá, S.A. (“MPSA”), has agreed and finalized the draft of a concession contract (the “Proposed Concession Contract”) with the Government of Panamá (the “Government”) for the Cobre Panamá mine. The… Read More Here

Mining in DRC Mining revenue

Mining Revenues For 2023 Projected To Surpass 10 Trillion Dollars In DRC

January 11, 2023January 11, 2023 Constance

The 2023 fiscal year’s Finance Law anticipates mining revenues to reach 10,887.9 billion Congolese Francs (CDF), equivalent to over 5.4 billion US dollars. Document 4 of the Finance Law for the 2023 financial year relating to revenue-generating acts indicates that these revenues have increased by 146.3% compared to their level in the 2022 financial year, which amounted to 4,419.9 billion Congolese Francs (CDF). The same document indicates that in the first half of the 2022 financial year, the financial authorities mobilized more than 5,376.4 billion Congolese Francs (CDF) from mining… Read More Here

Mining revenue International

AUSTRIA RIVISES RESOURCES EXPORT EARNINGS TO $308bn FOR FY23

December 19, 2022December 19, 2022 Constance

Australia revised upwards its resources and energy export earnings for the current financial year to hit a record A$459 billion ($308 billion) on Monday, as the war in Ukraine boosts prices of energy commodities. The country is set to see strong growth in revenue from exports of thermal coal used in power plants as well as liquefied natural gas (LNG) for the year ending June 2023, the Department of Industry, Science and Resources said in a quarterly report. “Many Western nations are having to pay substantially more for energy, on… Read More Here

Mining in Zambia Mining revenue

3.1% KANSANSHI MINE REVENUE SHARE A GOOD DEAL FOR ZAMBIA

December 18, 2022December 18, 2022 Constance

The Zambia Chamber of Mines has described the 3.1% revenue-based royalty secured by ZCCM-IH in its negotiations as being “at the top end of the range” and a good deal for the country normally seen for this type of arrangement. In a statement made available to the Zambian Business Times – ZBT, Chamber of Mines CEO Sokwani Chilembo stated that “this is a good deal for ZCCM-IH, when you look at the international comparisons”. He revealed that ZCCM IH and to a larger extent Zambia has secured a regular, consistent… Read More Here

Mining in DRC Mining revenue

Albert Yuma pinpoints 5 causes of low mining revenues in DRC

May 4, 2021May 4, 2021 admin

The Democratic Republic of the Congo, although endowed with immense mineral resources which make it a geological scandal, is poor, like its population who live on less than US $ 500 per year per person. If the mining sector made a strong contribution to national income between 1965 and 1990, it can be observed that over the past thirty years, mines have not been able to lift the DRC out of poverty. Albert Yuma, president of the Fédération des entreprises du Congo (FEC) and chairman of the Board of Directors… Read More Here