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Controversy Erupts Over $70 Million Allegation Involving Former DRC Mines Minister 20 Mining in DRC 

Controversy Erupts Over $70 Million Allegation Involving Former DRC Mines Minister

Constance
The alleged payment of $70 million involving former Minister of Mines Antoinette N’samba Kalambayi has sparked significant controversy and raises the possibility of legal action. In May, the civil society organization Congo N’est pas à Vente issued a press release to Mines.cd, highlighting a scandal involving embezzlement and corruption linked to the Cominiere SA company. They claimed this sum was allegedly allocated by the Chinese company Zijin Mining to the NGO Le Bouclier, led by Jean-David É’ngazi, who also serves on the Board of Directors of Cominiere. Since the revelation,… Read More Here
DRC: Former Kasai Governor Accused of Diamond Smuggling 21 Mining in DRC Diamond 

DRC: Former Kasai Governor Accused of Diamond Smuggling

Constance
Former Kasai Governor Dieudonné Pieme Tutkot is embroiled in a mining smuggling scandal, facing accusations of illicit diamond trafficking, as reported by MINES.CD from a reliable source. The former provincial executive allegedly engaged in this illegal mineral exploitation for several years. Reports indicate he purchased a dredge using taxpayer funds, stored in a safe. “We worked for several months without knowing the number of diamonds involved. The ex-governor’s associate, with whom we collaborate, has a safe. It was only at the end of his term that he opened it to… Read More Here
DRC Showcases Cobalt Dominance at Africa-Spain Business Summit in Barcelona 22 Mining in DRC Cobalt Events & Expos 

DRC Showcases Cobalt Dominance at Africa-Spain Business Summit in Barcelona

Constance
The Democratic Republic of Congo (DRC) participated in the Africa-Spain Business Summit forum held from July 9 to 11 in Barcelona, Spain. During the event, the Minister of Foreign Trade, Julien Paluku, noted that the DRC produced nearly 170,000 tonnes of cobalt in 2023, accounting for 70% of global production. Minister Paluku expressed his desire to establish partnerships in various areas, including the mineral value chain, new technologies, road and rail infrastructure, and renewable energies. He observed that for over 60 years, the colonial economic model had favored northern countries… Read More Here
Beira Corridor Drives Expansion in Southern Africa's Cold Chain Logistics 23 Mining in Zambia Mining in DRC Transport and Logistics 

Beira Corridor Drives Expansion in Southern Africa’s Cold Chain Logistics

Constance
The cold chain logistics industry in Southern Africa has seen significant growth in recent years, driven by increased capacity and investment. Marco Grobbelaar, General Manager of Independent Beira Logistics Terminals and Services (IBLT&S), highlights that the Beira corridor has particularly experienced a notable rise in traffic. This expansion is attributed to several key factors, including competitive landside operations and lower ocean freight rates compared to surrounding ports. A major contributor to this surge is the rising import volumes of fertilizers, which are essential for boosting logistical activities in the region.… Read More Here
Tanzania and Zambia Strengthen Railway Collaboration 24 Mining in Zambia Transport and Logistics 

Tanzania and Zambia Strengthen Railway Collaboration

Constance
The recent Tanzania-Zambia Inter-Ministerial Meeting marked a significant step towards revitalizing the Tanzania-Zambia Railway Authority (TAZARA). Held at the Mulungushi International Conference Centre in Lusaka, the meeting brought together key stakeholders, including Zambia’s Minister of Transport and Logistics, Hon. Museba Frank Tayali, and Tanzania’s Minister of Transport, Hon. Prof. Makame Mbarawa. This high-level dialogue focused on the involvement of the China Civil Engineering Construction Corporation (CCECC) in TAZARA’s revitalization efforts, aiming to secure a beneficial concession for all parties involved. Hon. Tayali emphasized the collective goal of the meeting: to… Read More Here
Italy Commits €320 Million to Enhance Zambia's Lobito Corridor Project 25 Mining in Zambia Infrastructural Development Transport and Logistics 

Italy Commits €320 Million to Enhance Zambia’s Lobito Corridor Project

Constance
A major development has emerged for Zambia’s infrastructure plans, as Italy has pledged support for the Lobito Corridor project. During a meeting with Zambian President Hakainde Hichilema, Stefano Gatti, Director General for Development at the Italian Ministry of Foreign Affairs Cooperation, announced a commitment of €320 million for the initiative. The Lobito Corridor is a crucial infrastructure project aimed at improving trade connectivity between Zambia, Angola, and the Democratic Republic of Congo (DRC). This initiative involves upgrading and expanding the existing rail corridor, linking Zambia’s copper and cobalt-rich regions to… Read More Here
Congolese Shareholders Acquire Stakes in ERG Africa's Subcontracting Companies 26 Mining in DRC 

Congolese Shareholders Acquire Stakes in ERG Africa’s Subcontracting Companies

Constance
Four companies from the ERG Africa group, previously listed as ineligible subcontractors, have officially opened their capital to seven Congolese shareholders. This milestone was celebrated during a ceremony in Kolwezi, Lualaba province, where the constitutive acts of these companies were signed. The four companies, which partner with METALKOL, were among nine sanctioned by the ARSP for non-compliance with the Subcontracting Law. The event was attended by notable figures, including Honorable Miguel Kashal Katemb, Director General of ARSP, and Nicolas Treand, President and CEO of ERG Africa. During the ceremony, Miguel… Read More Here
Zambia's Finance Minister Proposes Key Reforms to Strengthen Financial Stability 27 Mining in Zambia Economy 

Zambia’s Finance Minister Proposes Key Reforms to Strengthen Financial Stability

Constance
In a recent address to the National Assembly, Dr. Situmbeko Musokotwane, Minister of Finance and National Planning, outlined proposed measures by the Bank of Zambia aimed at reforming the financial landscape. These proposals include potentially prohibiting foreign currencies in local transactions and gradually phasing out cheques. Dr. Musokotwane emphasized that these initiatives are currently in the consultation phase, inviting stakeholder feedback through the Public Private Dialogue Forum. The Minister highlighted several key objectives of the draft regulations, including strengthening monetary policy effectiveness and enhancing financial sector stability. “The use of… Read More Here
Zambia Partners with Power China to Address Energy Crisis 28 Mining in Zambia Energy Partnership 

Zambia Partners with Power China to Address Energy Crisis

Constance
President Hakainde Hichilema has announced a partnership with Power China to tackle Zambia’s pressing energy crisis. A delegation led by Group Executive Vice President Jason K. Liu recently met at State House to solidify plans for collaborative efforts in energy, mining, agriculture, and infrastructure development. The partnership focuses on constructing small to medium-sized power plants to swiftly address the country’s energy shortages, exacerbated by El Niño-induced drought. Three implementing teams from Power China are set to arrive in Zambia shortly, emphasizing a proactive approach to enhancing the energy, water, and… Read More Here

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