Breaking News
DRC Central Bank Imposes Hefty Fines to Enforce Export Revenue Repatriation 1 Mining in DRC Economy 

DRC Central Bank Imposes Hefty Fines to Enforce Export Revenue Repatriation

Constance
The Central Bank of Congo (BCC) has significantly tightened its regulations on mining and oil companies, dramatically increasing fines for non-compliance with foreign exchange rules. According to a memo from AKILI Consulting—which advises major operators like Kamoa Copper and Kibali Gold—penalties for failing to declare foreign bank account details have surged over 1,000%, jumping from CDF 5,000,000 to CDF 58,680,000 (about $1,786 to $20,957). In addition to these hikes, the BCC has introduced stricter sanctions. A false declaration of accounts now carries a fine of CDF 234,720,000, while transfers made… Read More Here
DRC Launches New Mining Framework to Boost Development 2 Mining in DRC News in Brief 

DRC Launches New Mining Framework to Boost Development

Constance
The General Secretariat of Mines in the Democratic Republic of Congo (DRC) has adopted a new framework and organizational structure aimed at transforming the mining sector into a key driver of national development. The formal ceremony took place on Thursday, May 22, 2025, involving the Minister of Mines, Kizito Pakabomba, and the Vice Prime Minister and Minister of Civil Service, Modernization of Administration, and Public Service Innovation, Jean-Pierre Lihau Ebua. The Secretary General of Mines, Jacques Ramazani, was also present. According to a statement posted on the Ministry of Mines’… Read More Here
Sibanye-Stillwater Rescues Dozens as 181 Remain Trapped at Kloof Gold Mine 3 International Corporate News Mining safety 

Sibanye-Stillwater Rescues Dozens as 181 Remain Trapped at Kloof Gold Mine

Constance
Precious metals producer Sibanye-Stillwater (JSE: SSWJ, NYSE: SBSW) confirmed on Friday that nearly one-third of the 260 miners trapped underground at its Kloof gold mine, located approximately 60 kilometers west of Johannesburg, South Africa, have been safely brought to the surface. The company reported that the remaining 181 miners are safe, with access to food and water, and are currently gathered at an underground assembly point within Kloof, one of Sibanye’s deepest and most significant operations. Rescue efforts are ongoing, and the company is working to hoist the remaining workers… Read More Here
Kuvimba Mining Seeks $950 Million to Boost Gold and Lithium Production in Zimbabwe 4 Lithium Corporate News Gold International 

Kuvimba Mining Seeks $950 Million to Boost Gold and Lithium Production in Zimbabwe

Constance
Kuvimba Mining House, one of Zimbabwe’s leading mining companies, is looking to raise $950 million to expand its gold and lithium production, CEO Trevor Barnard announced at a mining conference in Victoria Falls. “First and foremost, we need funding,” Barnard said. “We require a significant amount of capital to make our businesses work.” He did not reveal the potential investors involved in the fundraising effort or the timeline for securing the financing. Kuvimba owns some of Zimbabwe’s oldest and most prominent gold mines, including Freda Rebecca and Shamva. The company… Read More Here
Rio Tinto Secures Majority Stake in Chile’s Altoandinos Lithium Project 5 International Battery Metals Corporate News Lithium New Mining Projects 

Rio Tinto Secures Majority Stake in Chile’s Altoandinos Lithium Project

Constance
SANTIAGO – Chile’s state-owned National Mining Company (ENAMI) has selected global mining giant Rio Tinto to take a 51% stake in the Altoandinos lithium project, marking the company’s second major lithium venture in Chile. Rio Tinto will initially invest $425 million to fund pre-feasibility studies, including the deployment of its pilot plant at the Rincon project in Argentina and the use of its proprietary direct lithium extraction (DLE) technology. The partnership was announced on Thursday, following a competitive bidding process in which Rio outpaced contenders such as France’s Eramet, China’s… Read More Here
Brazil Central Bank Doubts BRICS Will Dethrone the US Dollar Within a Decade 6 Economy International 

Brazil Central Bank Doubts BRICS Will Dethrone the US Dollar Within a Decade

Constance
Brazil’s central bank has cast doubt on the likelihood of BRICS nations displacing the U.S. dollar as the dominant global currency within the next decade. Nilton David, Director of Monetary Policy at Brazil’s Central Bank, stated during a recent webcast that, despite the growing economic strength of the BRICS bloc, there is no realistic scenario in which the group could build financial systems or markets large enough to challenge the global dominance of the dollar. “There is not a meaningful stock of BRICS-denominated assets that could offset the dollar at… Read More Here
DRC’s ARSP and ARTPC Sign Strategic Partnership to Strengthen Regulatory Collaboration 7 Mining in DRC Governance 

DRC’s ARSP and ARTPC Sign Strategic Partnership to Strengthen Regulatory Collaboration

Constance
A strategic partnership has been established between two key regulatory bodies in the Democratic Republic of Congo (DRC): the Regulatory Authority for Subcontracting in the Private Sector (ARSP) and the Regulatory Authority for Posts and Telecommunications of Congo (ARTPC). The two institutions signed a memorandum of understanding (MoU) on Tuesday, May 20, 2025, in Kinshasa, aimed at enhancing their cooperation and regulatory coordination. This agreement marks the outcome of a joint effort to create a structured framework for information exchange, experience sharing, and capacity building between the two authorities. “I… Read More Here
Atlantic Lithium Uncovers High Grade Lithium Pegmatites in Ivory Coast 8 International Battery Metals Corporate News Lithium 

Atlantic Lithium Uncovers High Grade Lithium Pegmatites in Ivory Coast

Constance
Atlantic Lithium, an Australian mining company, announced on Thursday, May 22, 2025, the discovery of spodumene-rich pegmatites—lithium-bearing rocks—on its exploration permits in Côte d’Ivoire. The findings, based on rock samples collected from the Agboville and Rubino permits, revealed high lithium grades of up to 1.25%. These results stem from the first two phases of a sampling program initiated in 2024, following the granting of exploration licenses to the company’s local subsidiary, Khaleesi Resources SARL. At the Rubino permit, geological anomalies indicating lithium mineralization span an area of approximately 2.5 km… Read More Here
DRC Cuts Fuel Subsidy Losses by 89 Percent in Major Economic Reform 9 Mining in DRC Oil & Gas Petroleum 

DRC Cuts Fuel Subsidy Losses by 89 Percent in Major Economic Reform

Constance
President Félix Tshisekedi of the Democratic Republic of Congo (DRC) has commended Deputy Prime Minister and Minister of Economy, Daniel Mukoko Samba, for achieving a dramatic reduction in revenue shortfalls owed to petroleum product distributors operating in the country. In an official letter, Anthony Nkinzo, Director of the Office of the Head of State, praised the achievement, highlighting the impact of reforms introduced by the Ministry of Economy. “The rigor and transparency of the adopted methodology, along with the significant 89% reduction in losses and shortfalls between 2023 and 2024,… Read More Here
Dispute Emerges Between Ivanhoe and Zijin Over Kamoa-Kakula Copper Mine Impact 10 Mining in DRC Copper Corporate News 

Dispute Emerges Between Ivanhoe and Zijin Over Kamoa-Kakula Copper Mine Impact

Constance
On Friday, May 23, 2025, Zijin Mining announced it expects a “negative impact” on production forecasts at the Kamoa-Kakula copper mine in the Democratic Republic of Congo (DRC). The announcement follows a seismic event that led to a temporary suspension of underground operations. However, this assessment is disputed by Ivanhoe Mines, Zijin’s joint venture partner and the operator of the mine. Ivanhoe has reiterated its 2025 copper production target of 520,000 to 580,000 tonnes, stating that the temporary slowdown earlier in the week has not altered these expectations. Zijin’s statement… Read More Here

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