Breaking News
Copper Prices Projected to Rise as DRC and Zambia Prepare for Increased Production 20 Mining in DRC Copper Mining in Zambia 

Copper Prices Projected to Rise as DRC and Zambia Prepare for Increased Production

Constance
Copper prices are anticipated to average around US$10,265 per tonne in the final quarter of 2024, according to estimates from Fastmarkets. Analysts at Reuters, a commodity price intelligence firm, suggest that positive economic outlooks in the United States and China will contribute to upward pressure on copper prices. Goldman Sachs has also predicted a gradual increase in copper prices in the coming months. The American bank projects that the price of copper will reach US$10,100 per tonne by 2025. This price rise is expected to enhance the revenues of copper… Read More Here
Cobalt Institute Hosts Roundtable in Kinshasa to Address Concerns Over Child Labor in Congolese Cobalt Production 21 Mining in DRC Cobalt 

Cobalt Institute Hosts Roundtable in Kinshasa to Address Concerns Over Child Labor in Congolese Cobalt Production

Constance
The Cobalt Institute, a global trade association representing the entire cobalt industry and value chain, held a roundtable discussion on Thursday, October 17, in Kinshasa. The focus was on the potential inclusion of Congolese cobalt in the U.S. Department of Labor’s 2024 list of goods produced by child or forced labor. Deputy Minister of Mines, Godard Motemona, actively participated in the roundtable, which brought together various stakeholders from both the public and private mining sectors. Notably, Chanda Uluca, the Division Chief for the African Zone of the U.S. Department of… Read More Here
Newmont Sells Akyem Mine in Ghana to Zijin Mining for Up to $1 Billion 22 International Gold 

Newmont Sells Akyem Mine in Ghana to Zijin Mining for Up to $1 Billion

Constance
US-based gold giant Newmont has reached an agreement to sell its Akyem mine in Ghana to Chinese mining firm Zijin Mining for up to $1 billion in cash. This sale is part of Newmont’s ongoing strategy to divest non-core assets following its acquisition of Newcrest Mining in 2023. Last month, the Denver-based company also agreed to sell two Australian assets for up to $475 million. Additional assets on the market include the Éléonore, Musselwhite, and Porcupine mines, along with the Coffee project in Canada, as well as the CC&V mine… Read More Here
Mali Seeks $512 Million in Tax Claims from Barrick Gold Amid Mining Revenue Drive 23 Gold International Mining tax 

Mali Seeks $512 Million in Tax Claims from Barrick Gold Amid Mining Revenue Drive

Constance
Mali’s military government is demanding at least 300 billion CFA ($512 million) in outstanding taxes and dividends from Barrick Gold, as part of a broader initiative to increase revenue from mining companies. Last month, authorities briefly detained four Malian staff members employed by Barrick, the world’s second-largest gold miner. The Canadian company announced on September 30 that it had agreed to collaborate with the government to address existing claims and disputes. These demands follow an audit of mining contracts conducted last year and the government’s push to renegotiate agreements with… Read More Here
Former Glencore Executives Await 2027 Trial for Bribery Charges 24 International Corporate News 

Former Glencore Executives Await 2027 Trial for Bribery Charges

Constance
A group of former Glencore executives accused of bribery and corruption in West Africa by UK authorities will have to wait until 2027 to stand trial. England’s criminal courts are currently facing a severe backlog of cases, worsened by years of underfunding, the COVID-19 pandemic, and lawyer strikes. On Wednesday, a judge at London’s Southwark Crown Court set a trial date for June 1, 2027, for the Serious Fraud Office’s case, which is anticipated to last up to six months. The accused include Alex Beard, the former head of oil… Read More Here
Minister Kizito Pakabomba Urges Local Communities to Leverage Mining Subsidies for Development 25 Mining in DRC 

Minister Kizito Pakabomba Urges Local Communities to Leverage Mining Subsidies for Development

Constance
The Congolese Minister of Mines, Kizito Pakabomba, has called on decentralized territorial entities (ETDs) and communities in mining regions to establish clear and coherent development programs that effectively utilize the 0.3% subsidy from the turnover of mining companies, as mandated by current legislation. During a press café held in Kinshasa on Thursday, Minister Pakabomba emphasized the importance of planning projects tailored to the specific needs of local communities, noting that these initiatives could significantly impact provincial development. “The 0.3% of the turnover of industrial companies is allocated to local communities.… Read More Here
DRC Minister of Mines Advocates for Reforms in Mining Sector at CAMI Press Café 26 Mining in DRC 

DRC Minister of Mines Advocates for Reforms in Mining Sector at CAMI Press Café

Constance
The Mining Registry (CAMI) hosted its third press café on Thursday at the Pullman Hotel in Kinshasa, attended by the Congolese Minister of Mines, Kizito Pakabomba. During the event, Minister Pakabomba reiterated the government’s commitment to comprehensive reforms in the Democratic Republic of Congo’s mining sector. Among the proposed reforms are the revitalization of the General Inspectorate of Mines (IGM) and the establishment of a regulatory and marketing authority for strategic minerals. “We aim to collaborate with all stakeholders, including civil society and human rights and environmental organizations. Our goal… Read More Here
Cobalt Mining in Kolwezi Poses Serious Risks to Women's Reproductive Health 27 Mining in DRC Cobalt 

Cobalt Mining in Kolwezi Poses Serious Risks to Women’s Reproductive Health

Constance
An investigation by La Guardia Magazine highlights the severe health consequences of intensive cobalt mining in Kolwezi, DRC, particularly on women’s reproductive health. From 2018 to 2023, cobalt production surged by 63%, increasing from 104,000 tons to 170,000 tons due to rising global demand for this essential mineral for energy transition. However, this accelerated exploitation poses significant environmental and health risks, especially in the Musonoï district. Located less than two kilometers from Kolwezi’s center, Musonoï overlooks an open-pit mine operated by Compagnie minière de Musonoï (COMMUS), a subsidiary of the… Read More Here
DRC's Minister of Mines Commits to Eradicating Child Labor in Cobalt Mining 28 Mining in DRC Artisanal mining Cobalt 

DRC’s Minister of Mines Commits to Eradicating Child Labor in Cobalt Mining

Constance
In a press release dated October 14, 2024, the Ministry of Mines of the Democratic Republic of Congo expressed its “astonishment” at the inclusion of Congolese cobalt on the list of products potentially associated with child labor, as reported by the United States Department of Labor. This statement follows a previous reaction from the government through the Ministry of Communication and Media. The ministry pointed out that while this decision highlights ongoing challenges in certain regions related to artisanal cobalt mining—representing only 5% of the country’s national production—it fails to… Read More Here
Goma Mining Conference Promotes Tax Compliance and Economic Development 29 Mining in DRC Economy Mining tax 

Goma Mining Conference Promotes Tax Compliance and Economic Development

Constance
The mining conference held on October 14, 2024, in Goma, North Kivu, Democratic Republic of Congo, served as a vital platform for local authorities to raise awareness among taxpayers in the mining sector about their obligations. The provincial government emphasized the importance of meeting tax responsibilities, warning that failure to comply could lead to the forfeiture of mining and quarry rights. “There was a pressing need to organize this mining day in Goma,” stated Peter Chirimwami Nkuba, the provincial governor. “It allowed the General Directorate of Revenue of North Kivu… 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.