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DRC Copper Production Reaches 1.74 Million Tonnes in First Seven Months of 2024 20 Mining in DRC Copper Economy 

DRC Copper Production Reaches 1.74 Million Tonnes in First Seven Months of 2024

Constance
Mining operators in the Democratic Republic of Congo (DRC) produced 1,738,800 tonnes of copper during the first seven months of 2024, according to data from the Central Bank of Congo (BCC). However, state-owned Gécamines contributed only a small portion to this total, with a production of 3,453 tonnes of copper within the same period. In comparison, the DRC’s mining sector achieved over 2.8 million tonnes of copper production throughout 2023, highlighting the continued significance of the sector to the country’s economy. Read More Here
EGC Reports Strong Exploration Results in DRC's Tombolo and Kanunka Blocks 21 Mining in DRC Exploration New Mining Projects 

EGC Reports Strong Exploration Results in DRC’s Tombolo and Kanunka Blocks

Constance
Enterprise Générale du Cobalt (EGC) has announced promising exploration results from its leases in the Tombolo and Kanunka blocks in Lualaba province, Democratic Republic of Congo (DRC). In collaboration with Cobalt for Development (C4D) and funded by BASF, BMW, Samsung SDI, STIHL, and Volkswagen Group, EGC has initiated a comprehensive exploration program. This includes geological mapping, surface and subsurface soil and rock sampling, and drilling target identification Initial analyses show significant mining potential for copper and cobalt in the Tombolo and Kanunka blocks, which cover a total area of 2.51… Read More Here
Tshisekedi and IGF Chief Discuss Anti-Corruption and Revenue Mobilization 22 Mining in DRC Governance 

Tshisekedi and IGF Chief Discuss Anti-Corruption and Revenue Mobilization

Constance
On Wednesday, September 18, President Félix Tshisekedi received the Inspector General of Finance (IGF), Jules Alingete Key, at the African Union City. The meeting, according to the Presidency, focused on the ongoing fight against corruption, embezzlement of public funds, and other unethical practices within the government. Alingete, who leads the IGF’s efforts to combat financial misconduct, presented a report on the institution’s monitoring of state financial operations. Jules Alingete emphasized that President Tshisekedi’s “clear and precise” directives aim to strengthen the IGF’s role in supporting the mobilization of public revenue.… Read More Here
Kamoa Copper Signs $75 Million in Contracts with 22 Local Subcontractors to Boost Congolese Participation 23 Mining in DRC Contracts & tenders Copper Mining Supply Tenders 

Kamoa Copper Signs $75 Million in Contracts with 22 Local Subcontractors to Boost Congolese Participation

Constance
To further President Félix Tshisekedi’s vision of empowering local businesses, the Director General of the Regulatory Authority for Subcontracting in the Private Sector (ARSP) oversaw the signing of contracts between 22 Congolese subcontracting companies and the Kamoa Copper company in Lualaba province. The contracts, valued at $75 million, will provide these companies access to various markets within Kamoa’s operations, such as the supply of sulfuric reagents, acid, underground pipe installation, and gardening services. List of Subcontracting Companies and contracts: Total value of contracts awarded in July and August 2024: $75,074,532… Read More Here
Zambian Govt and Mining Companies Seek Resolution Over Proposed Mineral Rights Legislation 24 Mining in Zambia Governance Mining Policy 

Zambian Govt and Mining Companies Seek Resolution Over Proposed Mineral Rights Legislation

Constance
Zambian mining companies have engaged in discussions with the government to address concerns over a proposed legal amendment that could grant the state a larger share of the country’s mineral resources. The draft legislation, currently under consideration in Zambia’s parliament, would allow the government to “acquire mining rights for investment.” This would enable the state to purchase a stake in a mining area before an exploration license is issued and retain ownership after a discovery is made and the site is developed. The Zambia Chamber of Mines, whose members include… Read More Here
$30 Million Copper and Cobalt Mine Set to Boost Production in Zambia’s Copperbelt 25 Mining in Zambia Cobalt Copper New Mining Projects 

$30 Million Copper and Cobalt Mine Set to Boost Production in Zambia’s Copperbelt

Constance
A new $30 million copper and cobalt mine, Chilibwe Mine, is set to begin operations in Mufulira District, Copperbelt Province. The mine, located off the Ndola-Mufulira road, spans 20 hectares and is expected to produce 2,000 metric tonnes of copper and cobalt per month over its projected 10-year lifespan. This venture aligns with President Hakainde Hichilema’s vision to increase Zambia’s copper output to 3 million tonnes annually by 2032. At a recent scoping meeting in Mufulira, Chilibwe Mine’s management engaged key stakeholders to discuss the project’s potential environmental and social… Read More Here
DRC-Africa Forum: Professor Kanda Urges Local Refining to Unlock DRC's Mineral Potential 26 Mining in DRC Events & Expos 

DRC-Africa Forum: Professor Kanda Urges Local Refining to Unlock DRC’s Mineral Potential

Constance
Local mineral refining is essential for the Democratic Republic of Congo (DRC) to enhance its economy, drive industrial development, and solidify its sovereignty as a mineral-rich nation. This was the core message delivered by Professor Jean-Marie Kanda on September 17, 2024, during a panel on the development of the DRC-Zambia special economic zone, held at the DRC-Africa Forum. When asked about the timeline for the next battery production, Professor Kanda emphasized the immediate focus should be on refining critical minerals like cobalt and lithium. “Right now, I’m working to ensure… Read More Here
Gemfields Sells Only 61% of Emeralds at Latest Auction Amid Market Challenges 27 Mining in Zambia Gemstones 

Gemfields Sells Only 61% of Emeralds at Latest Auction Amid Market Challenges

Constance
Gemfields, listed on both the Johannesburg and London stock exchanges, sold only 61% of the emeralds offered at its latest auction, generating $10.8 million in total revenue. The average sales price was $4.47 per carat. The auction, held from August 27 to September 13, featured 46 lots, but only 28 were sold. Adrian Banks, Gemfields’ Managing Director of Product and Sales, attributed the weaker-than-expected results to several market pressures. “The luxury goods, diamond, and gemstone markets are facing significant headwinds due to conflicts, elections, economic uncertainty in China, and broader… Read More Here
Midnight Sun Mining Expands Copper Exploration Near Kansanshi Mine 28 Mining in Zambia Copper Exploration New Mining Projects 

Midnight Sun Mining Expands Copper Exploration Near Kansanshi Mine

Constance
Canadian exploration company Midnight Sun Mining has launched a new exploration phase at the Kazhiba target on its Solwezi property in Zambia. This initiative is part of the company’s ongoing cooperative exploration agreement with First Quantum Minerals, aimed at identifying near-surface oxide copper resources to supply the nearby Kansanshi mine, located less than 10 km away. The exploration program involves 3,000 meters of reverse circulation drilling, partial ionic leach sampling, and an induced polarization survey, all designed to evaluate the high-grade oxide copper blanket at Kazhiba. Midnight Sun President and… Read More Here
Theta Gold Mines Shifts Funding Strategy for South African Gold Project 29 International Gold 

Theta Gold Mines Shifts Funding Strategy for South African Gold Project

Constance
Junior miner Theta Gold Mines has revised the funding strategy for its South African gold project, according to chairperson Bill Guy. The ASX-listed company will fully redeem its A$6-million secured bonds with 2Invest, freeing up its project interests to serve as collateral for future potential project funders. Theta plans to use funds from an $8-million private placement to facilitate the bond redemption. The company has already received $6 million from the first tranche of a $10-million, two-tranche placement with Hong Kong Ruihua Investment (HRIM), alongside a firm commitment for an… Read More Here

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