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Manara Minerals Appoints Pierre Chenard as First Permanent CEO to Lead Expansion Efforts 1 International Mining Personality 

Manara Minerals Appoints Pierre Chenard as First Permanent CEO to Lead Expansion Efforts

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Saudi Arabia’s Manara Minerals Investment Co., backed by the Saudi sovereign wealth fund, has appointed Pierre Chenard as its first permanent chief executive officer. Chenard, a seasoned dealmaker, joins the mining investment firm as it seeks to expand its portfolio. Chenard brings a wealth of experience, having previously served as head of corporate development and strategy at AngloGold Ashanti Plc, and holding a similar role at Rio Tinto’s aluminum unit, according to sources familiar with the appointment. Manara, under Chenard’s leadership, aims to accelerate Saudi Arabia’s ambitious plan to establish… Read More Here
BHP shareholders see room for one more sweetened Anglo bid 2 International 

BHP shareholders see room for one more sweetened Anglo bid

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Shareholders in BHP Group Ltd. and takeover target Anglo American Plc expect the world’s largest miner to come back with a third and improved proposal before a regulatory deadline next week, even after the smaller company laid out a bold restructuring plan of its own on Tuesday. Anglo has twice rejected all-share approaches from BHP that would require it to spin off listed South African businesses, arguing the proposal created “significant uncertainty” for shareholders. Instead, to counter the latest $43 billion move, it has said it will itself exit diamonds,… Read More Here
Anglo American to Sell De Beers Amid Industry Turmoil 3 International Diamond 

Anglo American to Sell De Beers Amid Industry Turmoil

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Anglo American announced on Tuesday its plans to spin off or sell its De Beers diamond business, ending an almost century-long association with the industry’s most renowned name. This decision is part of a broader restructuring strategy aimed at countering a $43 billion takeover bid from BHP Group, marking a significant shift in the diamond world. The diamond industry is currently under pressure from slumping prices, sanctions on Russia affecting trade, and the rising popularity of lab-grown gems, which are encroaching on traditional markets. The uncertainty surrounding the future operation… Read More Here
US tariffs on minerals leave out markets that China dominates 4 International 

US tariffs on minerals leave out markets that China dominates

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President Joe Biden just unveiled sweeping tariffs on a range of Chinese imports, including more than two dozen industrial raw materials. But the administration is being careful to avoid the critical minerals where Beijing’s grip on global supply is greatest. The commodities that made the duties list include ores of aluminum, manganese and chromium; rare elements, such as actinium and curium; and metals like tin and zinc. For the most part, the US doesn’t rely heavily on these products that now face a 25% import levy. The narrow scope of… Read More Here
EU and DRC Collaborate on Mineral Traceability Amid Tensions with Rwanda 5 Mining in DRC Regional conflict 

EU and DRC Collaborate on Mineral Traceability Amid Tensions with Rwanda

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The European Union is working with the Democratic Republic of Congo (DRC) to improve the traceability of the country’s vast natural resources, following accusations from Kinshasa that Rwanda is looting its mineral wealth. This collaboration comes after a contentious supply deal between the EU and Rwanda. DRC President Felix Tshisekedi has criticized the EU-Rwanda agreement, signed in February, as a “provocation.” The DRC and Rwanda have long been at odds, with Kinshasa accusing Kigali of supporting the Tutsi-led M23 rebel group. This group has seized significant territories in eastern DRC… Read More Here
Barrick’s Sustainability Strategy Delivers Real Value to Stakeholders 6 International Gold 

Barrick’s Sustainability Strategy Delivers Real Value to Stakeholders

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Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) – Almost $12 billion of economic value generated by Barrick’s mines last year remained in the countries in which it operates, according to the company’s 2023 Sustainability Report published today. Barrick president and chief executive Mark Bristow says real, tangible sustainability can only be achieved through a holistic approach aligned to the United Nation’s Sustainable Development Goals. Barrick’s conformance with ESG standards is a natural by-product of its sustainable business philosophy and not its driver. “Barrick’s distinctive approach to sustainability has evolved over many years, guided… Read More Here
Lobito Corridor's Road Network in Angola Set To Receive €381.5 Upgrade 7 Transport and Logistics Angola Mining in DRC Mining in Zambia 

Lobito Corridor’s Road Network in Angola Set To Receive €381.5 Upgrade

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The U.S.-Africa Business Summit in Dallas, Texas, announced a €381.5 million investment to upgrade Angola’s road network, focusing on the Lobito Corridor. The Africa Finance Corporation (AFC) will contribute €85 million, with the rest funded by the Export-Import Bank of the U.S. and the U.S. Private Export Funding Corporation. Additional support comes from Standard Chartered Bank, Conduril, and Acrow. This project will improve 186 bridges and boost agriculture by enhancing access to mineral-rich regions, aiding in the diversification of Angola’s economy. Following last week’s U.S.-Africa Business Summit in Dallas, Texas,… Read More Here
DRC Accuses Rwanda of Illicit Mineral Exploitation and Calls for Embargo 8 Mining in DRC Regional conflict 

DRC Accuses Rwanda of Illicit Mineral Exploitation and Calls for Embargo

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The Democratic Republic of Congo (DRC) has raised serious concerns about the exploitation and illegal importation of its minerals by Kigali through the M23/RDF rebels. According to a statement by DRC’s Minister of Mines, Antoinette N’Samba Kalambayi, on the instructions of Rwandan President Paul Kagame, a tax of $3,000 per ton of coltan and $2,000 per ton of cassiterite has been imposed, with payments being made in Kigali after the sale. “After authorizing the creation of a mining cooperative in Rubaya to supervise artisanal mining, the M23 intensified their efforts… Read More Here
Civil Society Raises Alarm Over Mismanagement of DRC Mining Fund for Future Generations 9 Mining in DRC 

Civil Society Raises Alarm Over Mismanagement of DRC Mining Fund for Future Generations

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Bad practices characterize the management of funds from the Mining Fund for Future Generations (FOMIN), according to the Makuta Ya Maendeleo Consortium, a civil society platform monitoring governance of extractive sector revenues. The Makuta Ya Maendeleo Consortium has expressed deep concern over the use of funds allocated to FOMIN’s operations. Recent documents reviewed by the consortium reveal that substantial sums were allocated in a questionable manner, including a payment of $300,000 to the General Inspectorate of Finance, $300,000 in litigation bonuses to the Kinshasa public prosecutor’s office, and fees of… Read More Here
DRC Signs Agreement for 7,000 MW Hydroelectric Dam and Major Aluminum Industry Projects 10 Mining in DRC Aluminium Hydro power plant 

DRC Signs Agreement for 7,000 MW Hydroelectric Dam and Major Aluminum Industry Projects

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The Democratic Republic of Congo (DRC) is set to embark on an ambitious infrastructure project involving the construction of a 7,000 megawatt hydroelectric dam, an aluminum foundry plant, an aluminum refinery, and a port terminal. This development follows the signing of a memorandum of understanding between the Agency for the Development and Promotion of the Grand Inga Project (ADPI-RDC) and Natural Oilfield Services Limited (NOFLS). According to a press release received by MINES.CD on Tuesday, May 14, 2024, NOFSL has committed to conducting technical, environmental, social, and financial studies for… Read More Here

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