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BRICS+ Gains Ground in Global Economy, Projected to Surpass G7 in Exports 20 International Economy 

BRICS+ Gains Ground in Global Economy, Projected to Surpass G7 in Exports

Constance
BRICS+—comprising Brazil, Russia, India, China, and South Africa—is positioning itself as a major global economic force. According to a report by Shape the Future with Confidence, BRICS+ now accounts for 36.7% of global GDP by purchasing power parity (PPP), 23.3% of global merchandise trade, and represents 45.2% of the world’s population. Since 2000, BRICS+ has doubled its share of global merchandise exports from 10.7% to 23.3%, while the G7’s share has declined from 45.1% to 28.9%. This trend reflects the growing influence of BRICS+ over the industrialized economies of the… Read More Here
COP16 Biodiversity Summit Ends Without Consensus on Funding for 2030 Roadmap 21 International 

COP16 Biodiversity Summit Ends Without Consensus on Funding for 2030 Roadmap

Constance
The COP16 biodiversity summit concluded on Saturday, November 2, 2024, without reaching a crucial agreement on financing the roadmap aimed at halting nature’s destruction by 2030. . The negotiations, according to organizers, were abruptly paused when Susana Muhamad, the Colombian President of the UN summit, discovered that many delegates had left after an all-night plenary session, leaving her without the quorum necessary to proceed. The conference was thus suspended before finalizing a financing strategy and a monitoring mechanism essential to enforcing commitments made in the 2022 Montreal Agreement on biodiversity… Read More Here
DRC’s Economic Committee Focuses on Price Stability and Fiscal Management 22 Mining in DRC Economy Governance 

DRC’s Economic Committee Focuses on Price Stability and Fiscal Management

Constance
The Economic Situation Committee in the Democratic Republic of Congo (DRC) is actively working to stabilize prices, monitor the foreign exchange market, and enhance public finance management. Following the recent meeting on November 6, 2024, Deputy Prime Minister and Minister of National Economy, Daniel Mukoko Samba, reported that goods and services markets show signs of stability, with inflation under control. To maintain this stability, the government is enforcing strict budgetary discipline and enhancing revenue collection as the year-end approaches. To manage emergency expenses, the Ministries of Finance and Budget have… Read More Here
DRC Prime Minister demands better management of natural resources 23 Mining in DRC Governance 

DRC Prime Minister demands better management of natural resources

Constance
On Monday, November 4, 2024, at the Pullman Hotel in Kinshasa, Prime Minister Judith Suminwa Tuluka inaugurated a pivotal workshop aimed at strengthening the Extractive Industries Transparency Initiative (EITI) in the Democratic Republic of Congo (DRC). In her opening remarks, she emphasized the importance of transparency in the management of the country’s natural resources as a foundation for a prosperous future for the Congolese people. The workshop, attended by key industry stakeholders, focuses on aligning with the new EITI 2023 standards, aiming to inspire ambitious reforms within the sector. Jean-Jacques… Read More Here
ARSP Director General Discusses Collaboration with IGF to Strengthen Tax Base for 2025 Budget 24 Economy Governance Mining in DRC 

ARSP Director General Discusses Collaboration with IGF to Strengthen Tax Base for 2025 Budget

Constance
On Tuesday, November 5, 2024, Miguel Kashal Katemb, Director General of the Regulatory Authority for Subcontracting in the Private Sector (ARSP), met with Jules Alingete Key, Inspector General and Head of Service of the General Inspectorate of Finance (IGF). The purpose of their meeting was to discuss how ARSP can contribute to enhancing the tax base of the Congolese State in preparation for the 2025 budget year. Katemb emphasized the importance of collaboration between ARSP and the IGF to streamline the subcontracting value chain. “The goal is to work in… Read More Here
DRC Mines Minister Strengthens Bilateral Ties at China Mining Forum 2024 25 Mining in DRC Events & Expos 

DRC Mines Minister Strengthens Bilateral Ties at China Mining Forum 2024

Constance
The Democratic Republic of Congo (DRC) was represented at the China Mining Forum 2024 by Kizito Pakabomba, the Minister of Mines. His visit focused on strengthening Sino-Congolese cooperation in the mining sector through strategic meetings and industrial visits. Upon arrival, Minister Pakabomba was welcomed by DRC Ambassador to China, François Balumuene. He then met with Turkey’s Minister of Energy and Natural Resources, Alparslan Bayraktar, to discuss potential partnerships in energy and natural resources that would benefit both nations. At the China Mining Forum, Pakabomba emphasized the importance of the DRC-China… Read More Here
Copper Price Rises Amid Positive Chinese Economic Data and US Election Speculation 26 International Copper 

Copper Price Rises Amid Positive Chinese Economic Data and US Election Speculation

Constance
Copper prices increased for a third consecutive day, driven by strong economic data from China and expectations that Beijing will announce further support measures. The industrial metal has gained over 2% since Thursday’s close, following reports showing that China’s services sector expanded last month at its fastest pace since July. This came after positive factory activity data from both official and private sources. These indicators suggest that China’s recent stimulus efforts might be starting to show results. The Chinese government is anticipated to unveil additional economic support measures during the… Read More Here
Jubilee Metals Reports Strong Growth in South Africa and Zambia Operations 27 Mining in Zambia Corporate News 

Jubilee Metals Reports Strong Growth in South Africa and Zambia Operations

Constance
Diversified metals producer Jubilee Metals has reported significant growth in its South African operations, with production increases across chrome and platinum group metals (PGMs) during the first quarter of FY 2025. The company’s South African operations, now well-established, are consistently exceeding targets. For the quarter ending September 30, chrome concentrate production rose by 8% to 455,381 tons, surpassing the targeted output. PGM production, which includes platinum, palladium, rhodium, ruthenium, iridium, and gold, reached 9,328 oz, aligning with guidance. “Jubilee’s chrome operations have achieved outstanding performance, exceeding quarterly targets,” the company… Read More Here
B2Gold Advances Namibia's Springbok Zone Mining Project within Antelope Deposit 28 International Gold 

B2Gold Advances Namibia’s Springbok Zone Mining Project within Antelope Deposit

Constance
B2Gold has initiated a preliminary economic assessment (PEA) for the Springbok Zone, part of the Antelope deposit, with an eye on starting mining operations in 2026. The Antelope deposit, located approximately three kilometers south of the Otjikoto open pit, includes the Springbok and Oryx Zones, along with a potential third structure known as Impala. The company expects to complete the PEA in the first half of 2025. In the second quarter of 2024, B2Gold released an initial inferred mineral resource estimate for the Springbok Zone, identifying 1.75 million tons grading… Read More Here
Barrick Declares Q3 Dividend and Buys Back Additional Shares 29 International Gold 

Barrick Declares Q3 Dividend and Buys Back Additional Shares

Constance
Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) today announced the declaration of a dividend of $0.10 per share for the third quarter of 2024. The dividend is consistent with the Company’s Performance Dividend Policy announced at the start of 2022. The Q3 2024 dividend will be paid on December 16, 2024 to shareholders of record at the close of business on November 29, 2024. Barrick also repurchased an additional 4.725 million shares during the third quarter under the $1 billion share buyback program that was announced in February 2024, bringing the total repurchases… Read More Here

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