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Ontario Court Dismisses Tanzanian Lawsuit Against Barrick Gold 20 International Gold 

Ontario Court Dismisses Tanzanian Lawsuit Against Barrick Gold

Constance
Dual-listed Barrick Gold has welcomed the Ontario Superior Court’s decision to dismiss a lawsuit brought by 21 Tanzanian nationals alleging human rights abuses by Tanzanian police at the North Mara gold mine. The court ruled that Ontario, Canada, was not the appropriate jurisdiction for the claims. The lawsuit, filed in November 2022, accused Barrick of complicity in extrajudicial killings purportedly committed by police officers stationed at the mine. The plaintiffs argued that Barrick, as the majority owner of the North Mara mine, effectively controlled the police presence and should be… Read More Here
Zambia's Energy Minister Launches 58-kW Solar Microgrid in Chama District 21 Mining in Zambia Energy 

Zambia’s Energy Minister Launches 58-kW Solar Microgrid in Chama District

Constance
Energy Minister Makozo Chikote has inaugurated the 58-kilowatt Manga Solar Microgrid in Chikwa, Chama District. The project, part of the Chikwa Wash Energy initiative led by World Vision, represents an investment exceeding 18.5 million Kwacha. During the commissioning, Minister Chikote highlighted the government’s commitment to expanding electricity access across Zambia. “We have a vision and a plan to ensure the continued expansion of power to serve our nation,” he stated. He also emphasized the need for the Rural Electrification Authority (REA) to collaborate with stakeholders to guarantee the sustainability of… Read More Here
Power Crisis in Southeast DRC Disrupts Mining Operations 22 Electricity Mining in DRC 

Power Crisis in Southeast DRC Disrupts Mining Operations

Constance
The mining sector in the southeast of the Democratic Republic of Congo (DRC) is grappling with a severe power shortage, stemming from disruptions in electricity supply from neighboring Zambia. The crisis, which began on November 24, 2024, has left mining operations—critical to the DRC’s economy—in a vulnerable state. Zambia, a key electricity supplier to the DRC, is facing dwindling water levels at its hydropower dams and delays in expanding its energy infrastructure. These challenges have led to widespread power restrictions. Meanwhile, the DRC’s own hydropower capacity is strained by rising… Read More Here
DRC's Julien Paluku Promotes Investment Opportunities at MEDays Forum 23 Mining in DRC Events & Expos 

DRC’s Julien Paluku Promotes Investment Opportunities at MEDays Forum

Constance
Julien Paluku, the Democratic Republic of Congo’s (DRC) Minister of Foreign Trade, utilized the MEDays Forum in Tangier, Morocco, to highlight the country’s vast economic and industrial opportunities to Moroccan and international investors. His focus spanned trade, agribusiness, energy, and the growing battery and electric vehicle sectors. Joined by Judith Suminwa, Head of the Congolese Government, Paluku underscored the DRC’s rich reserves of strategic minerals like cobalt and lithium, critical to the global energy transition. He detailed efforts to improve the business climate, enhance infrastructure, and foster public-private partnerships to… Read More Here
AVZ Minerals Secures $15 Million Litigation Funding for DRC Disputes 24 Mining in DRC Corporate News Lithium 

AVZ Minerals Secures $15 Million Litigation Funding for DRC Disputes

Constance
AVZ Minerals Limited, a lithium mining company, has secured $15 million in litigation funding from Locke Capital II to support its legal efforts related to disputes over its mining projects, including the Manono project in the Democratic Republic of Congo (DRC). AVZ CEO Nigel Ferguson expressed satisfaction with the agreement, stating on November 28: “Locke, a global litigation funder with a strong track record, has approved funding for AVZ, validating our strong position in these disputes and paving the way for a successful resolution.” The company plans to draw an… Read More Here
COP29: Rich Nations Pledge $300 Billion Annually for Climate Action 25 International Events & Expos 

COP29: Rich Nations Pledge $300 Billion Annually for Climate Action

Constance
Rich countries have pledged to contribute at least $300 billion annually to combat climate change, with a cumulative target of $1.3 trillion by 2035. This milestone was announced in a United Nations press release on Sunday, November 24, 2024. The announcement follows two weeks of intense negotiations at COP29, the 29th Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC). Delegates also approved rules for a UN-backed global carbon market, aimed at enabling carbon credit trading. This market is expected to incentivize nations to reduce… Read More Here
Copper Prices to Fall 2.85% in November 2024, Impacts DRC Economy 26 Mining in DRC Copper Economy 

Copper Prices to Fall 2.85% in November 2024, Impacts DRC Economy

Constance
Copper, a key mineral for the Democratic Republic of Congo’s (DRC) economy, is expected to experience a notable price decline on international markets. Between November 25 and 30, 2024, copper is forecast to trade at USD 8,924.05 per ton, marking a 2.85% decrease from the previous period when it was priced at USD 9,186.25. This drop is part of a broader trend in which several other metals, including zinc, tin, gold, and silver, have also seen price reductions. Zinc is now trading at USD 29,490.05, down 0.64%, while gold has… Read More Here
DRC’s Coltan Exports Generate $6.7 Million Amid Challenges in the First Quarter of 2024 27 Mining in DRC Coltan Economy 

DRC’s Coltan Exports Generate $6.7 Million Amid Challenges in the First Quarter of 2024

Constance
The Democratic Republic of Congo (DRC) maintained its pivotal role in the global coltan market during the first quarter of 2024, exporting 265.90 tons of coltan valued at $6.7 million, according to official data. Artisanal mining dominated production, accounting for 242.30 tons during this period. This form of mining, prevalent in North and South Kivu provinces, often takes place under precarious conditions with minimal regulation. Coltan, a critical mineral for the electronics industry, is essential for manufacturing components like capacitors. The rising global demand, driven by advancements in digital technologies,… Read More Here
DRC Faces Budget Deficit of $164 Million Amid Rising Public Expenditures 28 Mining in DRC Economy 

DRC Faces Budget Deficit of $164 Million Amid Rising Public Expenditures

Constance
The Democratic Republic of Congo (DRC) reported a budget deficit of approximately 575.9 billion Congolese Francs (CDF), equivalent to over $164 million, as of November 13, 2024, according to the Central Bank of Congo (BCC). Public revenues totaled 22,548.8 billion CDF for the year, while expenditures reached 23,124.7 billion CDF, highlighting a financial imbalance that raises concerns about the sustainability of public finances and the government’s capacity to fulfill its obligations. Economic analysts attribute this deficit to surging expenditures, particularly on civil servant salaries and exceptional outlays. A significant portion… Read More Here
President Tshisekedi Opens 11th Governors' Conference in Kalemie 29 Mining in DRC Governance 

President Tshisekedi Opens 11th Governors’ Conference in Kalemie

Constance
President Félix-Antoine Tshisekedi Tshilombo presided over the 11th Governors’ Conference on Wednesday, November 27, 2024, in Kalemie, Tanganyika Province. This annual event serves as a platform for dialogue between provincial governors and the national executive. Spanning three days, from November 27 to 29, the conference gathers governors elected during the December 2023 electoral process. They will engage with experts and senior officials with extensive experience at the national level to exchange knowledge and insights. This year’s discussions center on the Local Development Program of the 145 Territories (PDL 145-T) under… Read More Here

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