Breaking News
Kibali Mine Tackles DRC’s Energy Deficit with Renewables 20 Mining in DRC Corporate News Events & Expos Gold 

Kibali Mine Tackles DRC’s Energy Deficit with Renewables

Constance
At the Makutano Forum on Thursday, November 14, 2024, several panelists discussed the theme, “Energy Deficit in the DRC: Can Miners Offer Solutions?” One of the key speakers, Jean-Paul Ilunga Mbayo, Power Engineer at Barrick Gold Corporation, highlighted the significant challenges faced by miners in investing in energy infrastructure in the Democratic Republic of Congo (DRC). Ilunga emphasized three primary challenges that hinder progress in addressing the country’s energy deficit. 1. Economic Challenges The foremost obstacle is the high tax burden associated with the construction of energy infrastructure. Ilunga pointed… Read More Here
Minister Aimé Molendo Sakombi Outlines Vision for DRC's Oil Sector Growth and Sustainability 21 Mining in DRC Oil & Gas Petroleum 

Minister Aimé Molendo Sakombi Outlines Vision for DRC’s Oil Sector Growth and Sustainability

Constance
On Thursday, November 14, 2024, Minister of Hydrocarbons Aimé Molendo Sakombi provided an in-depth analysis of the Congolese oil sector at the Hilton Hotel, during the Hydrocarbons House event, held alongside the tenth edition of the Makutano Forum. While the Democratic Republic of Congo (DRC) is often called a “geological scandal” due to its vast natural resources, its oil production is currently limited to a mere 20,000 barrels per day—a stark contrast to the country’s potential. Minister Sakombi emphasized that key regions like the Central Basin, the Albertine Graben, and… Read More Here
Angola’s Lobito Atlantic Railway Expands with Arrival of 275 New Container Wagons 22 Uncategorized 

Angola’s Lobito Atlantic Railway Expands with Arrival of 275 New Container Wagons

Constance
The first batch of 275 new container wagons, purchased from South Africa’s Galison Manufacturing, has arrived in Lobito, Angola, to enhance the transport capacity of the Lobito Atlantic Railway (LAR). This strategic investment is part of LAR’s broader expansion and modernization plan, aimed at boosting railway infrastructure over the next three years. Arriving earlier this week, the new wagons are equipped with a modern pneumatic braking system and a lightweight steel structure, ensuring safer and more efficient transport operations. Each wagon weighs 13.5 tons and has a load capacity of… Read More Here
IFC’s $550 Million Investment Boosts DRC’s Energy and Infrastructure Sectors 23 Mining in DRC Economy Infrastructural Development 

IFC’s $550 Million Investment Boosts DRC’s Energy and Infrastructure Sectors

Constance
Since 2021, the Democratic Republic of Congo (DRC) has received significant financial support totaling US$550 million from the International Finance Corporation (IFC). This funding, primarily directed toward infrastructure and energy projects, aims to foster sustainable growth and improve the daily lives of Congolese citizens. During a meeting on Thursday, November 14, 2024, Sergio Pimenta, IFC Vice-President for Africa, and Judith Tuluka Suminwa, Prime Minister of the DRC, discussed the impact of this support. According to Pimenta, the IFC’s investments have directly benefited the Congolese population by addressing critical infrastructure and… Read More Here
Minister Bussa and ARSP Director Sign MOU to Boost State Portfolio Cooperation 24 Mining in DRC Economy Governance 

Minister Bussa and ARSP Director Sign MOU to Boost State Portfolio Cooperation

Constance
Jean-Lucien Bussa, Minister of Portfolio, and Miguel Kashal Katemb, Director General of the Regulatory Authority for Subcontracting in the Private Sector (ARSP), signed a memorandum of understanding (MOU) on Tuesday, November 12, 2024, aimed at fostering inter-company cooperation. The agreement follows a proposal made by the Minister of Portfolio to the Council of Ministers on July 19, 2024. The signing ceremony took place in the Minister of Portfolio’s Cabinet meeting room, with experts from both parties in attendance. The MOU facilitates collaboration and mutual support between companies in the state… Read More Here
Congolese Gold Price Sees Modest Increase Amid Global Uncertainty 25 Mining in DRC Economy Gold 

Congolese Gold Price Sees Modest Increase Amid Global Uncertainty

Constance
During the week of November 11 to 16, 2024, the price of Congolese gold saw a slight increase of 0.07%, reaching $88.72 per gram, up from $88.66 the previous week, according to a report from the National Commission of Mercuriales under the Ministry of Foreign Trade. While this rise is modest, it reflects growing global interest in the precious metal as markets remain sensitive to fluctuations in raw material prices. Gold, often seen as a safe haven in times of economic uncertainty, continues to see increased demand. Even small price… Read More Here
Copper Price Surge Offers Opportunities and Risks for DRC's Economy 26 Mining in DRC Copper Economy 

Copper Price Surge Offers Opportunities and Risks for DRC’s Economy

Constance
As of October 24, 2024, copper prices reached $9,561 per tonne, marking a 0.34% increase from the previous week. This rise is part of a broader trend of growing base metal prices, driven by rising global demand and infrastructure investments. Compared to the end of December 2023, copper has risen by 12.07%, providing a significant boost to producing nations like the Democratic Republic of Congo (DRC), one of the world’s leading copper exporters. This price surge could substantially impact the Congolese economy, potentially enhancing public revenues. The increased demand for… Read More Here
DRC Secures $2.87 Billion IMF Package for Economic Growth and Climate Resilience 27 Mining in DRC Economy 

DRC Secures $2.87 Billion IMF Package for Economic Growth and Climate Resilience

Constance
The Democratic Republic of Congo (DRC) has secured two agreements from the International Monetary Fund (IMF) totaling $2.87 billion. These funds will support the country’s economic development and efforts to combat climate change. During a press conference on Thursday, November 14, 2024, Minister of Finance Doudou Fwamba Li-Botayi, alongside Budget Minister Aimé Boji and an IMF representative, detailed the two agreements. The first is a three-year program under the Extended Credit Facility (ECF), valued at $1.75 billion, while the second focuses on climate resilience (RST), amounting to $1.1 billion. Minister… Read More Here
DRC Minister Confirms Near Completion of Dan Gertler’s Exit from Mining and Oil Assets 28 Mining in DRC 

DRC Minister Confirms Near Completion of Dan Gertler’s Exit from Mining and Oil Assets

Constance
The Minister of Hydrocarbons of the Democratic Republic of Congo (DRC), Aimé Molendo Sakombi, announced on Thursday that the process of divesting Israeli businessman Dan Gertler from Congolese mining and oil assets is nearly complete. “I can confirm, as a government, that the process is nearing its end. In a few weeks, the Ventora group (Dan Gertler) will be fully divested from all Congolese assets,” the minister stated at the Makutano forum in Kinshasa. Gertler, a controversial figure in the DRC’s mining sector, signed a memorandum of understanding with the… Read More Here
Carter Center Report Highlights Shortcomings in DRC Mining Companies’ Social Commitments 29 Mining in DRC 

Carter Center Report Highlights Shortcomings in DRC Mining Companies’ Social Commitments

Constance
A recent study published by the Carter Center in November 2024, titled White Paper on the Specifications of Mining Companies in the DRC, reveals a significant shortfall in mining companies’ adherence to sustainable development commitments, particularly in relation to the needs of local communities affected by mining activities. The report finds that out of 402 specifications intended to address these needs between 2018 and 2024, only 71 have been signed—an alarming 18% compliance rate. Furthermore, the budgets allocated to these signed specifications are deemed insufficient, with the average annual budget… Read More Here

You have successfully subscribed to the newsletter

There was an error while trying to send your request. Please try again.

Copperbelt Katanga Mining will use the information you provide on this form to be in touch with you and to provide updates and marketing.