Breaking News
Chile to Invest $83 Billion in Mining Projects Through 2033 20 International Copper 

Chile to Invest $83 Billion in Mining Projects Through 2033

Constance
Chile plans to invest approximately $83.18 billion in mining projects between now and 2033, according to a study by state-run agency Cochilco, cited in a newspaper report on Tuesday. This marks a 27% increase from last year’s investment estimate. The Cochilco report, set to be presented on Wednesday, outlines 51 projects across the country, which is the world’s largest producer of copper and the second-largest producer of lithium, a crucial element for rechargeable batteries. Chile’s Diario Financiero reported that the Cochilco study did not include the recently announced $14 billion… Read More Here
Mali Issues Arrest Warrant for Barrick Gold CEO Mark Bristow Amid Rising Tensions 21 Gold International 

Mali Issues Arrest Warrant for Barrick Gold CEO Mark Bristow Amid Rising Tensions

Constance
BAMAKO – Mali, one of Africa’s largest gold producers, has issued an arrest warrant for Barrick Gold CEO Mark Bristow, according to a warrant document seen by Reuters on Thursday. This marks an escalation in the ongoing dispute between the Canadian mining company and the West African nation. The junta-led government of Mali is seeking to increase state revenues from the mining sector as gold prices rise. In an effort to exert pressure on foreign companies, the government has detained mining executives. In September, four senior local employees of Barrick… Read More Here
U.S. Investment Boosts Africa's Strategic Rail Link for Mining and Economic Growth 22 Mining in Zambia Angola Mining in DRC Transport and Logistics 

U.S. Investment Boosts Africa’s Strategic Rail Link for Mining and Economic Growth

Constance
The Lobito Corridor is set to become the largest American investment in African railways, according to US President Joe Biden. This strategic railway link, connecting the Democratic Republic of Congo (DRC) and Angola, is poised to transform the transportation of essential metals used in vehicle manufacturing and wind turbines from mining sites to the port. Stretching 1,344 kilometers, the Lobito Corridor is designed to facilitate the transport of critical minerals, including copper and cobalt, which are vital for the global energy transition. The DRC, responsible for 70% of the world’s… Read More Here
Copper Price Stability Crucial for DRC’s Economic Future 23 Copper Economy Mining in DRC 

Copper Price Stability Crucial for DRC’s Economic Future

Constance
The price of copper on global markets reached USD 9,044.50 per tonne, marking a slight increase of 0.04% compared to the previous week. This stability is crucial for the Democratic Republic of Congo (DRC), one of the world’s top producers of copper, a key metal in the global economy. Copper accounts for a significant portion of the DRC’s exports, making it a cornerstone of the national economy. The country has experienced a steady rise in copper prices over recent years, with prices even reaching historic highs. In 2023, copper exports… Read More Here
US President Joe Biden Announces $560 Million Funding for Lobito Trans-African Corridor 24 Mining in Zambia Angola Governance Mining in DRC Transport and Logistics 

US President Joe Biden Announces $560 Million Funding for Lobito Trans-African Corridor

Constance
On Wednesday, December 4, 2024, US President Joe Biden unveiled more than $560 million in funding for the Lobito Trans-African Corridor, during a meeting in Lobito with Angolan President João Lourenço, DRC President Félix Tshisekedi, Zambian President Hakainde Hichilema, and the Vice President of Tanzania. The project, designed to connect the mining basins of the Democratic Republic of Congo (DRC) and Zambia to the port of Lobito, is crucial for transporting key natural resources such as copper and cobalt. President Biden emphasized that the Lobito Corridor represents a transformative opportunity… Read More Here
Félix Tshisekedi Highlights Strategic Importance of the Lobito Corridor for Regional Prosperity 25 Events & Expos Mining in DRC Mining in Zambia Transport and Logistics 

Félix Tshisekedi Highlights Strategic Importance of the Lobito Corridor for Regional Prosperity

Constance
The President of the Democratic Republic of Congo (DRC), Félix Tshisekedi, emphasized the strategic significance of the Lobito Corridor during a multilateral meeting in Benguela, Angola, on Wednesday, December 4, 2024. This corridor, linking the DRC, Zambia, and Angola, is set to become a vital trade route, aiming to transport up to 20 million tonnes of goods annually by 2030. Tshisekedi highlighted its potential to drive economic development, particularly in the DRC’s copper and cobalt sectors, which are crucial to the global energy transition. “The Lobito Corridor, designed to transport… Read More Here
Kibali Gold Mine Honors Blessed Anuarite Nengapeta at 60th Anniversary Celebration 26 Mining in DRC Events & Expos Gold 

Kibali Gold Mine Honors Blessed Anuarite Nengapeta at 60th Anniversary Celebration

Constance
Kibali Gold Mine, represented by its Country Director, Cyrille Mutombo, participated in the Eucharistic celebration marking the 60th anniversary of Blessed Anuarite Nengapeta in Isiro, Haut-Uélé Province. The colorful ceremony was attended by President Félix Tshisekedi, Prime Minister Judith Suminwa, elected officials, political leaders, and social actors, as well as the diocese of Isiro-Niangara. Kibali Gold Mine, based in the northeastern DRC, attended the event to honor the legacy of Blessed Anuarite, a symbol of morality, religious values, and commitment to promoting what is valuable. “It is a pleasure for… Read More Here
Primera Gold Renamed DRC Gold Trading as State Gains Full Ownership 27 Mining in DRC Economy Gold 

Primera Gold Renamed DRC Gold Trading as State Gains Full Ownership

Constance
The Congolese government has renamed Primera Gold DRC SA to DRC Gold Trading SA following its complete acquisition of the company. Initially established as a joint venture between the Democratic Republic of Congo (DRC) and the United Arab Emirates in December 2022, the company is now fully under Congolese control. Revised statutes formalized the name change, with the shareholding structure now comprising 55% ownership by the state, 15% by Gécamines, and 30% by the Mining Fund for Future Generations (FOMIN). During the 60th anniversary of Blessed Anuarite Nengapeta in Buta… Read More Here
DRC Govt Gains 100% Control of Primera Gold DRC SA 28 Mining in DRC Gold 

DRC Govt Gains 100% Control of Primera Gold DRC SA

Constance
The Congolese government has regained full ownership of Primera Gold DRC SA, acquiring all shares held by its former Emirati partner, Primera Group Limited. This strategic move aims to position the Democratic Republic of Congo (DRC) as the leading exporter of gold from artisanal and small-scale mining, ensuring greater benefits for local communities impacted by mining activities. The transition also involved a redistribution of shares within the company, now renamed DRC Gold Trading SA. The Congolese state holds a 55% majority stake, while Gécamines and the Mining Fund for Future… Read More Here
DRC Poised to Capitalize on Germanium Market Amid China’s Export Ban 29 Mining in DRC Economy 

DRC Poised to Capitalize on Germanium Market Amid China’s Export Ban

Constance
China’s recent ban on exporting germanium to the United States has positioned the Democratic Republic of Congo (DRC) as a potential key player in the global market for this critical metal. Analysts suggest the DRC could leverage this opportunity to expand its influence and meet rising international demand. With a production plant launched in Lubumbashi in 2023, the DRC is targeting an annual output of 30 tonnes of germanium. State-owned mining company Gécamines is driving this initiative, aspiring to position the DRC as a viable alternative to China in the… Read More Here

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