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Chile Files Four Environmental Charges Against Anglo American’s Los Bronces Mine 20 International 

Chile Files Four Environmental Charges Against Anglo American’s Los Bronces Mine

Constance
Chile’s environmental regulator has filed four charges against Anglo American’s Los Bronces copper mine for failing to comply with environmental permits, the agency announced on Monday. The charges, which could result in a fine of nearly 17 billion pesos (approximately $17.17 million), were brought by the Superintendency of the Environment (SMA). Los Bronces, one of Chile’s largest copper mines with an output of 255,000 metric tons in the previous year, is a key asset for Anglo American, which has been the target of a potential takeover by larger rival BHP.… Read More Here
DRC and Burundi Strengthen Bilateral Cooperation for Economic Growth 21 Mining in DRC Economy Governance 

DRC and Burundi Strengthen Bilateral Cooperation for Economic Growth

Constance
President Félix-Antoine Tshisekedi of the Democratic Republic of Congo (DRC) met with his Burundian counterpart, Évariste Ndayishimiye, on Sunday, December 22, 2024, in Bujumbura for a friendship visit aimed at enhancing bilateral relations and regional stability, key to the economic development of both nations. This two-hour meeting marks a significant step in revitalizing the economic ties between the DRC and Burundi. The two leaders emphasized the importance of deepening trade and cross-border collaborations, particularly in infrastructure, energy, and natural resources. According to a source close to the Congolese presidency, “The… Read More Here
DRC Energy Consultations Set Goal to Achieve 62% Electricity Access by 2030 22 Mining in DRC Electricity Energy Events & Expos 

DRC Energy Consultations Set Goal to Achieve 62% Electricity Access by 2030

Constance
The “DRC Energy Compact” program, centered on the Democratic Republic of Congo’s (DRC) energy transition, concluded on Thursday, December 19, 2024, after two days of impactful discussions, innovative ideas, and strategic exchanges. Held under the patronage of President Félix-Antoine Tshisekedi, the event brought together experts, government officials, and institutional actors to address the challenges and opportunities in modernizing the DRC’s energy sector. Discussions focused on financing, international partnerships, and infrastructure development to expand access to sustainable energy across the nation. Supported by the World Bank and the African Development Bank… Read More Here
DRC President Promulgates $18 Billion Finance Law for 2025 23 Mining in DRC Economy Governance 

DRC President Promulgates $18 Billion Finance Law for 2025

Constance
On December 22, 2024, President Félix Tshisekedi of the Democratic Republic of Congo (DRC) officially promulgated the Finance Law for the 2025 fiscal year. The budget, unanimously adopted by both chambers of the Congolese Parliament, totals 51,553.54 billion Congolese francs (CDF), equivalent to approximately $18 billion at the budgetary exchange rate. The 2025 budget marks a 25.8% increase from the previous year, underscoring the government’s commitment to enhancing internal resource mobilization and optimizing financial authority performance. This significant growth reflects confidence in the national economy and bolsters the government’s credibility… Read More Here
Japan Commits $15 Million to Rehabilitate Maréchal Bridge in the DRC 24 Mining in DRC Infrastructural Development 

Japan Commits $15 Million to Rehabilitate Maréchal Bridge in the DRC

Constance
On December 23, 2024, the Japanese government announced a $15 million investment to rehabilitate the Maréchal Bridge in Matadi, located in Kongo Central province. The commitment was formalized by Japan’s Ambassador Extraordinary and Plenipotentiary to the Democratic Republic of Congo (DRC), Ogawa Hidetoshi, during a cooperation agreement signing ceremony in Kinshasa. Ambassador Ogawa emphasized that the rehabilitation of the bridge and its access roads will significantly enhance the living conditions of Kongo Central residents. The project will also improve the flow of transport on this strategic route, which is critical… Read More Here
Temporary Suspension of Mining Operations at Kagem Due to Damaged Emerald Market 25 Mining in Zambia Emeralds 

Temporary Suspension of Mining Operations at Kagem Due to Damaged Emerald Market

Constance
Kagem Mining Limited (“Kagem”) announces the temporary suspension of mining operations at Kagem. This decision is a direct consequence of disturbed emerald market dynamics arising from an oversupply of Zambian emeralds at discounted prices during the second half of 2024, compounded by conflicting emerald auction dates between the key Zambian emerald producers and giving rise to a destabilised Zambian emerald market outlook for at least the first half of 2025. These market dynamics are evidenced by the disappointing auction results from Kagem’s last commercial and higher-quality auctions held in September… Read More Here
Central Bank of Congo Reports Mixed Trends in Commodity Prices for December 2024 44 Mining in DRC Economy 

Central Bank of Congo Reports Mixed Trends in Commodity Prices for December 2024

Constance
The Central Bank of Congo (BCC), in its economic report for the second week of December 2024, highlighted varied price trends for major commodities as of December 12, 2024. Key Commodities Performance International food commodity prices generally showed a downward trend: The BCC report underscores the diverse performance of raw materials, with some commodities like gold and copper maintaining year-on-year growth, while others like cobalt and staple foods have seen declines. These trends reflect shifting global market dynamics and their impact on the DRC’s economy. Read More Here
Vedanta to exclude base metals business from sweeping demerger 45 International Corporate News News in Brief 

Vedanta to exclude base metals business from sweeping demerger

Constance
Indian miner Vedanta will not carve out a separate listed unit for its base metals business, it said last week, after discussing the matter with its stakeholders and lenders. Vedanta, led by billionaire Anil Agarwal, had last year launched a sweeping overhaul to carve itself up into six separate businesses, in a move aimed at shoring up the group’s financial performance. The company will consider the base metals business demerger at a later stage, it said in an exchange filing, adding that the share entitlement ratio for the demerger of… Read More Here
Nioka Mining Site Freed from Illegal Occupation by Artisanal Miners 46 Artisanal mining Mining in DRC 

Nioka Mining Site Freed from Illegal Occupation by Artisanal Miners

Constance
After two weeks of illegal occupation, the Nioka mining site was finally liberated on Thursday, December 19, 2024, following the deployment of the Armed Forces of the Democratic Republic of Congo (FARDC). The operation’s success was confirmed by multiple media outlets in Lualaba. While police intervention led to violent clashes, sources report that the artisanal miners voluntarily vacated the site after demolishing the walls of the fence. The FARDC had been stationed in the area on orders from the provincial authorities to prevent further incursions, according to Maître Christian Kakele,… Read More Here

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