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Zambia and DRC Unite to Build Key Cross-Border Road Boosting Regional Trade 20 Mining in Zambia Infrastructural Development Mining in DRC 

Zambia and DRC Unite to Build Key Cross-Border Road Boosting Regional Trade

Constance
Zambia and the Democratic Republic of Congo (DRC) have signed a landmark agreement to construct a 145-kilometer road linking Kolwezi in the DRC to Lumwana in Zambia, passing through the Kambimba-Sakabinda border posts. This ambitious project, formalized in Kolwezi, Lualaba Province, aims to enhance border infrastructure, streamline trade, and strengthen economic ties between the two nations. The agreement, signed by Zambia’s Minister of Infrastructure, Housing, and Urban Development, Charles Milupi, and DRC’s Minister of Infrastructure and Public Works, Alexis Muvunyi, includes the construction of a one-stop border post to facilitate… Read More Here
Vedanta Resources Set to Launch $500 Million Bond Issue Amid Adani Crisis Fallout 21 International Corporate News 

Vedanta Resources Set to Launch $500 Million Bond Issue Amid Adani Crisis Fallout

Constance
Vedanta Resources, which delayed a planned dollar bond sale last week following allegations against Adani Group officials by U.S. prosecutors, is now set to proceed with the issuance on Monday, according to sources familiar with the matter. The bond issue, expected to raise up to $500 million, will gauge global investor appetite for Indian high-yield credit in the wake of the Adani controversy. The Adani Group, led by billionaire Gautam Adani, has dismissed the U.S. allegations as “baseless.” “Since the Adani crisis hasn’t escalated as feared, the company decided to… Read More Here
Zambian Miners Rescued Following Nationwide Power Outage 22 Mining in Zambia Electricity Mining safety 

Zambian Miners Rescued Following Nationwide Power Outage

Constance
Miners trapped underground at two copper mines in Zambia were safely rescued after a nationwide power outage disrupted operations, the country’s Ministry of Energy reported on Monday. The blackout occurred on Sunday due to a “power system disturbance,” according to state utility Zesco. The outage also affected neighboring Zimbabwe, highlighting the region’s ongoing energy challenges exacerbated by the worst drought in decades, which has severely impacted hydropower generation. Zambia’s Energy Permanent Secretary, Peter Mumba, confirmed that miners were trapped at Mopani Copper Mines, majority-owned by the United Arab Emirates’ International… Read More Here
Nationwide Power Outage Hits Zambia 23 Mining in Zambia Electricity News in Brief 

Nationwide Power Outage Hits Zambia

Constance
Zambia experienced a nationwide power outage on Sunday due to a “power system disturbance,” according to the state-owned utility company, Zesco. The incident occurred at approximately 18:15 GMT, resulting in a complete loss of power across the country. Zesco stated that efforts to address the unplanned outage were underway, with the restoration of power supply in progress. Further updates on the cause of the disturbance and the timeline for full restoration are expected. Read More Here
Gold Price Drop Impacts DRC Mining Exports 24 Gold Economy Mining in DRC News in Brief 

Gold Price Drop Impacts DRC Mining Exports

Constance
The price of gold, a key export for the Democratic Republic of Congo (DRC), has decreased by 2.93% on global markets. From November 18-23, 2024, the price per gram fell to USD 86.12, down from USD 88.72 the previous week, according to a press release from the Ministry of Foreign Trade. This decline is part of broader global fluctuations in raw material prices, particularly observed between November 11-16, 2024. Price volatility on international markets continues to challenge the DRC, where Read More Here
Oil Prices Drop 4.45% Amid Supply Glut and Slowing Demand 25 International Oil & Gas Petroleum 

Oil Prices Drop 4.45% Amid Supply Glut and Slowing Demand

Constance
The price of a barrel of oil has dropped by 4.45%, settling at $72.25. This decline is largely attributed to an oversupply in the market coupled with weakening demand, especially from China. China, which is a major driver of global oil demand, is facing an economic slowdown. As a result, OPEC has revised its 2024 growth forecast downward, predicting a drop of 135,000 barrels per day in demand. Despite China’s stimulus efforts, oil consumption remains sluggish, exacerbated by the country’s real estate crisis and ongoing concerns about economic growth. These… Read More Here
AfDB Urges Integration of Africa's Natural Capital into GDP Measurement 26 International Economy 

AfDB Urges Integration of Africa’s Natural Capital into GDP Measurement

Constance
Africa’s forests play a crucial role in stabilizing the global climate by sequestering carbon, controlling pollution, retaining water, and enhancing soil fertility. The African Development Bank (AfDB) has estimated the value of these ecosystems at $6.2 trillion, according to a report released during the 29th International Climate Conference (COP29) in Baku, Azerbaijan. The AfDB has called for the inclusion of this natural capital in the Gross Domestic Product (GDP) calculations of African nations. The report reveals that, in 2018, Africa’s overall GDP was valued at $2.5 trillion, while the value… Read More Here
U.S. Ambassador Highlights Challenges in DRC's Business Climate at Kinshasa Workshop 27 Mining in DRC Economy 

U.S. Ambassador Highlights Challenges in DRC’s Business Climate at Kinshasa Workshop

Constance
At a recent workshop in Kinshasa, U.S. Ambassador Lucy Tamlyn outlined the challenges facing the business climate in the Democratic Republic of Congo (DRC), stressing that some large international companies are reluctant to invest in the country due to concerns over its reputation. The event, which brought together government officials, private sector leaders, and civil society members, focused on creating a national action plan for the DRC. Ambassador Tamlyn highlighted the importance of the Human Rights and Security Volunteers initiative, established in 2000, which seeks to ensure that companies in… Read More Here
Lualaba Governor Addresses Artisanal Mining in the Province 28 Mining in DRC Artisanal mining 

Lualaba Governor Addresses Artisanal Mining in the Province

Constance
Fifi Masuka, Governor of Lualaba province in the Democratic Republic of Congo (DRC), clarified the scale of artisanal mining operations in the region during a presentation of her first 100 days in office on Friday. She corrected the misconception that 5,000 artisanal miners were operating in the province, stating the actual number is closer to 450,000. “Sometimes, we manage them with patience and prayer,” Masuka remarked, acknowledging the potential dangers of large crowds of miners. “We’re fortunate they remain in the mines, where cooperatives organize them. However, the situation could… Read More Here
DRC Mining Sector Loses Billions Due to Energy Deficit 29 Mining in DRC Electricity 

DRC Mining Sector Loses Billions Due to Energy Deficit

Constance
Over the past five years, approximately $4 billion in potential revenue has bypassed the National Electricity Company (SNEL) due to the country’s chronic energy shortages. Fabrice Lusinde, the General Manager of SNEL, revealed this alarming figure during the Makutano Forum, shedding light on the significant energy deficit impacting the mining sector. According to Lusinde, mining companies currently purchase around $800 million worth of energy from SNEL annually. However, in addition to this, they import electricity worth $200 million from southern Africa and spend an additional $500 to $600 million on… Read More Here

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