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DRC Plans Strategic Partnership with China to Advance Transport and Infrastructure Projects 20

The Democratic Republic of Congo (DRC) is strengthening its collaboration with China to accelerate development in key sectors, including transport. Deputy Prime Minister and Minister of Transport, Communication Routes, and Disenclavement, Jean-Pierre Bemba Gombo, emphasized this partnership during a Council of Ministers meeting on November 22, 2024. Bemba presented an information note detailing efforts to prepare a comprehensive list of projects to be submitted to Chinese financial institutions as part of the Sino-Congolese cooperation framework. According to the minutes of the Council of Ministers, the finalized project lists were discussed… Read More Here

Mining in DRC Economy Gold

DRC Gold Sector Shines with Over 7 Tons Produced in Q1 2024

November 30, 2024November 30, 2024 Constance

In the first quarter of 2024, the Democratic Republic of Congo (DRC) achieved remarkable gold production, totaling 7,153.58 kilograms. This highlights the nation’s vast gold potential, despite ongoing challenges in the sector. Data from the Technical Cell for Coordination and Mining Planning reveals that industrial mining dominated production with 6,462.61 kilograms, led by Kibali Gold Company, which contributed 6,445.61 kilograms. The MCC Company added 17 kilograms to this total. Meanwhile, artisanal mining accounted for 690.97 kilograms, underscoring its significance in the local economy, where thousands of miners rely on gold… Read More Here

Mining in DRC Diamond Economy

DRC Diamond Exports Reach $18 Million in Q1 2024 Amid Production Decline

November 30, 2024November 30, 2024 Constance

In the first quarter of 2024, the Democratic Republic of Congo (DRC) achieved diamond exports worth nearly $18 million, driven by the export of 1,970,188 carats. Despite the notable revenue, the sector faces challenges, including declining production and fluctuating market conditions. The Technical Cell for Coordination and Mining Planning reported diamond production of 931,876.98 carats in the same period. The DRC’s diamond industry continues to grapple with production variability, a trend that has raised concerns among stakeholders. Breakdown of Production by Segment: All production was exported to key markets, including… Read More Here

Mining in DRC Economy

DRC’s Cassiterite Production Soars to 8,218 Tonnes in Q1 2024

November 30, 2024November 30, 2024 Constance

Cassiterite production in the Democratic Republic of Congo (DRC) surged to 8,218.54 tonnes in the first quarter of 2024, according to the Ministry of Mines’ Technical Unit for Coordination and Mining Planning. This substantial growth highlights cassiterite’s increasing role in the DRC’s economy. Industrial mining accounted for the majority of production, with Alphamin leading the sector by producing 5,488.86 tonnes. Sakima contributed 50 tonnes, reflecting a trend toward more organized and regulated mining practices. Artisanal mining also made a significant impact, producing 2,679.68 tonnes. Key artisanal production regions included Haut-Lomami,… Read More Here

Mining in Zambia Copper Corporate News Press Release

MIMOSA RESOURCES AND MKUSHI TRADITIONAL LEADERS INSPIRED BY FQM’S BLUEPRINT FOR SUSTAINABLE MINING

November 29, 2024November 30, 2024 Constance

Mimosa Resources and the traditional leadership from Chief Chitina’s chiefdom in Mkushi have expressed appreciation of First Quantum Minerals’ (FQM) blueprint for sustainable mining in Zambia following a tour of its Kansanshi Mine in Solwezi District, North-Western Province. The familiarisation tour was recently undertaken as part of wider stakeholder engagement efforts by Mimosa Resources to foster collaboration between traditional leaders, mining operators, and the local community for its Kashime Copper Project in Mkushi, underscoring its dedication to creating a model of mining that balances economic growth with environmental and social… Read More Here

International Energy

Zimbabwe’s Renewable Energy Sector Boosted by $10 Million Investment

November 28, 2024November 28, 2024 Constance

Zimbabwe’s renewable energy ambitions have gained momentum with a $10 million investment from the Facility for Energy Inclusion (FEI), finalized on August 30. The funding supports Cicada Solar Limited, a leading solar solutions provider in the country. The long-term senior debt financing will enable Cicada Solar to expand its operations, addressing Zimbabwe’s persistent energy challenges while fostering economic growth through affordable energy solutions and vendor financing programs. Cicada currently manages four active solar projects, with additional initiatives under development. Jonathan Wood, Managing Director of Cicada Solar, emphasized the importance of… Read More Here

Mining in Zambia Events & Expos

CEJ Advocates for Sustainable Mineral-Based Development in Zambia

November 28, 2024November 28, 2024 Constance

The Centre for Environment Justice (CEJ) actively participated in the “Green and Inclusive Approach to Mineral-Based Development and Industrialization” workshop held in Ndola, Zambia, organized by the United Nations Economic Commission for Africa (UNECA). During the event, CEJ’s Head of Research and Studies, Mr. Freeman Mubanga, underscored the importance of environmentally sustainable practices in Zambia’s mineral-based industrialization efforts. Speaking as a panelist, he highlighted Zambia’s strides in copper beneficiation and the integration of mining with local industries. Mr. Mubanga identified several challenges impeding the mining sector’s growth, including: To tackle… Read More Here

International Corporate News Gold

Barrick Gold Employees Charged Amid Mali’s Push for Mining Revenue

November 28, 2024November 28, 2024 Constance

Four employees of Barrick Gold, one of Canada’s leading gold mining companies, have been charged and detained in Mali as the military-led government intensifies efforts to secure more revenue from the mining sector. The employees, who were initially detained in September, have been re-arrested, according to a source familiar with the matter. Barrick has strongly denied the charges but has not disclosed specifics. The company stated it is actively engaging with Mali’s government to negotiate an amicable resolution and secure the release of the detainees. “Since September 30, Barrick has… Read More Here

International Corporate News Zinc

Trafigura’s Zinc Withdrawal Sparks Price Surge on LME

November 28, 2024November 28, 2024 Constance

Trafigura Group, a major player in the global zinc market, has triggered a rally in zinc prices by ordering the withdrawal of thousands of tons of the metal from London Metal Exchange (LME) warehouses, according to sources familiar with the situation. Orders for zinc withdrawals surged by 97,225 tons over two days—the largest spike in more than a decade—leaving less stock available for other buyers. This shortage has supported a 5.5% increase in zinc prices this week, with the metal trading 1.8% higher at $3,129.50 per ton on Wednesday. Trafigura,… Read More Here

International Gold

Toubani Resources Secures Financial Advisor for Mali’s Kobada Gold Project

November 28, 2024November 28, 2024 Constance

Toubani Resources, a gold development company focused on Africa, has appointed Endeavour Financial as its financial advisor to advance the development of the Kobada gold project in Mali. This appointment follows significant interest from potential financiers, including African banks and credit funds, spurred by the recent release of the project’s definitive feasibility study (DFS). The DFS positioned Kobada as one of West Africa’s most cost-effective gold development projects, with an upfront capital requirement of $216 million. It also highlighted the project’s potential to produce over 150,000 ounces of gold annually,… Read More Here

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