CKM NEWSLETTER 21-03-2022

Milingo Lungu has resigned from his position as Konkola Copper Mines Plc Provisional Liquidator with immediate effect

The provisional liquidator of Zambia’s Konkola Copper Mines (KCM), a company over which Vedanta Resources and the Zambian government have been locked in a long dispute, has resigned. Milingo Lungu has resigned from his position as Konkola Copper Mines Plc Provisional Liquidator with immediate effect. According to his resignation letter dated March 17, 2022 and addressed to KCM official receiver… Read full details

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Resources Matters advocates for a fair and transparent outcome to the conflict between DRC against one of its largest investors, China Molybdenum

Resources Matters advocates for a fair and transparent outcome to the conflict that has pitted Congo against one of its largest investors, China Molybdenum, for more than six months, over financial compensation for Tenke Fungurume Mining’s copper-cobalt reserves. Earlier last week, a Congolese court appointed an interim administrator to lead Tenke Fungurume Mining (TFM) for the next six months… Read full article

Copper, the main export material of the DRC, is trading this week at 10,529 USD per ton…

The prices of the main export minerals of the DRC mainly show an upturn on the international market in the week from March 14 to 19, 2022, according to projections by experts from the National Mercurial Commission, a service attached to the Ministry of Foreign Trade in Democratic Republic of Congo. In this perspective, copper, the main export material of the DRC, is trading this week at 10,529 USD per ton… Read full article

Canadian miner Ivanhoe Mines has invested R200.6-million ($13.3-million) in South African natural gas and helium producer Renergen…

Canadian miner Ivanhoe Mines has invested R200.6-million ($13.3-million) in South African natural gas and helium producer Renergen by buying more than 5.6-million Renergen shares, at R35.625 a share. The placement is within the company’s existing pre-approved placement capacity, and means that Ivanhoe will now acquire an initial strategic shareholding in Renergen and, subject to its evaluation… Read full article

• World: On The Rise, Cobalt Goes From 75,521.25 to 78,277.50 Usd On The International Market This Week
• New Debmarine Namibia Diamond Recovery Vessel Sets World Record
• XCMG Builds “World’s Largest” 400 T Xde440 Mining Truck For Zijin Mining and China Minmetals
• Barrick Expands Global Footprint In Hunt For High-Quality Assets

Goetz, 57, stands accused of “the illicit movement of gold valued at hundreds of millions of dollars…

The United States on Thursday imposed sanctions on Belgian businessman Alain Goetz and a network of companies tied to him that it accused of being involved in the illicit movement of gold from the Democratic Republic of the Congo and funding insurgents. Goetz, 57, stands accused of “the illicit movement of gold valued at hundreds of millions of dollars per year from the Democratic Republic of the Congo… Read full article

Formerly the Flagship of the Economy of the Democratic Republic of Congo, Minière De Bakwanga (Miba) Fell into a Black Hole Several Years Ago…

To allow this Congolese company to replay its former role, an investment of nearly 150 million US dollars is necessary. This need was expressed by the delegation of the Steering Committee and Reform of Public Enterprises (COPIREP), which stayed in Mbuji-Mayi, capital of Kasai Oriental since March 6 to inquire about the situation of this company. of the Congolese State Portfolio… Read full article