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Saudi Arabia to visit Brazil and Chile as seeks to diversify mining 1 International Battery Metals Copper 

Saudi Arabia to visit Brazil and Chile as seeks to diversify mining

Constance
Saudi Arabia’s mining minister will visit Brazil and Chile over the coming two weeks, the ministry said on Sunday, as the world’s leading oil exporter seeks to expand its international presence in mining. In Brazil, talks will cover mining, food processing, and aviation, while in Chile the focus is on lithium, needed for electric vehicle batteries. “This aligns with the Kingdom’s direction towards expanding the production of EVs,” a Saudi government statement said. Saudi Minister of Industry and Mineral Resources Bandar Alkhorayaf will land in Brazil on Monday and leave… Read More Here
AngloGold Ashanti and European Investor Back G2 Goldfields' Capital Raise for Oko Project 2 Gold International 

AngloGold Ashanti and European Investor Back G2 Goldfields’ Capital Raise for Oko Project

Constance
Gold mining major AngloGold Ashanti and a new European investor have supported Canadian junior G2 Goldfields’ latest capital raise for its Oko project in Guyana. The TSX-V-listed exploration company announced a non-brokered private placement of 28.97 million shares at C$1.45 per share, yielding gross proceeds of C$42 million. A single European investor has agreed to purchase 20 million shares, while AngloGold Ashanti will acquire the remaining shares. Upon closing, AngloGold will hold approximately 15% of G2’s common shares, up from its current 12.8%. The offering is expected to close in… Read More Here
DRC Prime Minister & Chinese Delegation Discuss Cooperation and Infrastructure Development 3 Mining in DRC Infrastructural Development 

DRC Prime Minister & Chinese Delegation Discuss Cooperation and Infrastructure Development

Constance
On Friday, July 19, Prime Minister Judith Suminwa met with a delegation from the Chinese Enterprise Group, the majority shareholders of Sicomines. The meeting, led by the Prime Minister, focused on enhancing Sino-Congolese bilateral cooperation and improving the business climate in the Democratic Republic of Congo (DRC). During the discussions, the Prime Minister reiterated the government’s commitment to creating a favorable environment for foreign investors. The Chinese delegation expressed its desire to maintain strong relations with the DRC and to contribute to national development through the construction of high-quality infrastructure.… Read More Here
DRC and UK Discuss Key Mining Sector Issues to Foster Cooperation 4 Mining in DRC 

DRC and UK Discuss Key Mining Sector Issues to Foster Cooperation

Constance
On Friday, July 19, 2024, Kizito Pakaboma, Minister of Mines for the Democratic Republic of Congo (DRC), met with Alyson King, the United Kingdom’s Ambassador to the DRC. They discussed critical topics for advancing the Congolese mining sector, including mineral traceability, adherence to international standards, benefits for local communities, and enhancing the business climate to attract foreign investment. Both the DRC and the UK expressed a shared commitment to developing a mutually beneficial partnership. The DRC is rich in natural resources, boasting significant global reserves of cobalt (approximately 36%), copper… Read More Here
Montage Gold Seeks $131.6 Million to Accelerate Koné Gold Project in Ivory Coast 5 Gold Copper 

Montage Gold Seeks $131.6 Million to Accelerate Koné Gold Project in Ivory Coast

Constance
Montage Gold, a Canadian company controlling 90% of the Koné gold deposit in Ivory Coast, announced on July 16 its intention to raise $131.6 million to fast-track the development of its largest Ivorian mining asset. The company aims to close the funding round by August 12. Zijin Mining Group, active in copper mining in the Democratic Republic of Congo (DRC), has pledged $41 million, while the Swedish Lundin Family Trusts will contribute $31.4 million. The Koné project is projected to commence production in 2027. “We are thrilled to welcome Zijin… Read More Here
DRC Tackles Mining and Oil Sector Fraud to Boost Public Revenue 6 Mining in DRC Economy Oil & Gas 

DRC Tackles Mining and Oil Sector Fraud to Boost Public Revenue

Constance
In the Democratic Republic of Congo (DRC), the mining and oil sector continues to grapple with widespread fraud, undermining the country’s economic development. On Thursday, July 17, 2024, Prime Minister Judith Suminwa Tuluka chaired a meeting of the Economic Situation Committee. Following the session, Daniel Mukolo Samba, Minister of National Economy, announced that measures are being considered to enhance public revenue. The committee identified fraud as a significant issue, involving the undervaluation of both mining and petroleum products leaving the country. “We are considering measures to address these fraudulent practices… Read More Here
DRC to Establish Joint Company for Local Diamond Processing and Jewelry Manufacturing 7 Mining in DRC Diamond Economy 

DRC to Establish Joint Company for Local Diamond Processing and Jewelry Manufacturing

Constance
The Democratic Republic of Congo (DRC) is set to establish a joint company dedicated to the local cutting and polishing of diamonds and colored stones, as well as jewelry manufacturing. This initiative was announced on Tuesday, July 16, following a meeting between Kizito Pakaboma, head of the Congolese mining sector, and Teit Ritzau, Managing Director of the Swiss firm Adex Platform, an international consortium specializing in diamonds and precious stones. According to the Ministry of Mines’ communications unit, the Adex Platform AG delegation presented a report detailing the progress of… Read More Here
GoviEx Uranium Shifts Focus to Zambia Amid Niger Setback 8 Mining in Zambia Uranium 

GoviEx Uranium Shifts Focus to Zambia Amid Niger Setback

Constance
TSX-V-listed GoviEx Uranium has announced its intention to fight for its rights at the Madaouela project in Niger while redirecting efforts towards its Muntanga project in Zambia. Nearly two weeks ago, the Nigerien government informed GoviEx that it no longer holds rights over the mining permit perimeter for its Madaouela project, which has reverted to the public domain. “This decision came despite our very best efforts spanning almost two decades, transforming Madaouela from an exploratory venture into one of the world’s largest-known uranium deposits. Since acquiring our license, we have… Read More Here
South Kivu Governor Orders Immediate Suspension of All Mining Activities 9 Mining in DRC 

South Kivu Governor Orders Immediate Suspension of All Mining Activities

Constance
The governor of South Kivu, Professor Jean-Jacques Parusi Salumu, has issued an order signed on July 18, 2024, suspending all mining activities throughout the province. According to the decree, “Article 1: All activities related to mining throughout the entire province of South Kivu carried out by all companies, businesses, and cooperatives of any kind are suspended, whether operating de facto or de jure in the province of South Kivu, until further notice. Article 2: All companies, businesses, and cooperatives referred to in the preceding article are required to leave the… Read More Here
Zambia Signs Agreement for 50MW Solar Plant in Kafue 10 Mining in Zambia Green Energy 

Zambia Signs Agreement for 50MW Solar Plant in Kafue

Constance
On July 17, 2024, Zambia took a significant step toward a greener future with the signing of an Implementation Agreement for a 50MW solar plant in Kafue Town. The agreement was signed by Dr. Francesca Chisangano Zyambo, Permanent Secretary of Administration at the Ministry of Energy, and Mr. Erich Horlacher, CEO of Wendit Group. Dr. Zyambo expressed the government’s commitment to advancing renewable energy initiatives, emphasizing the importance of sustainable energy development for Zambia’s future. Mr. Horlacher thanked the Zambian government for its unwavering support and vision. He highlighted that… Read More Here

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