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Tenke Fungurume Mining Achieves Copper Mark Certification 1 Mining in DRC Cobalt Copper 

Tenke Fungurume Mining Achieves Copper Mark Certification

Constance
Tenke Fungurume Mining SA (TFM) of CMOC Group Ltd. (CMOC), a prominent copper and cobalt mine in the Democratic Republic of the Congo (DRC), has officially achieved Copper Mark certification for its responsible production practices. This milestone makes TFM the first mine in Africa to receive this prestigious certification. The Copper Mark is based on assessments by independent third parties to ensure that mines and smelters meet rigorous standards for responsible production. Launched in 2020, it addresses growing international demands for responsible sourcing and promotes best practices across the value… Read More Here
Central Banks' Gold Purchases Surge Tenfold in April 2024 2 International Gold 

Central Banks’ Gold Purchases Surge Tenfold in April 2024

Constance
In an analysis published on June 4, 2024, the World Gold Council reported a dramatic increase in central banks’ gold purchases, which surged tenfold in one month. Central banks bought 33 tonnes of gold in April, up from just 3 tonnes in March. The Central Bank of Turkey emerged as the largest buyer during this period, adding 8 tonnes to its official reserves. Other central banks also made significant purchases, including those of Kazakhstan, India, Poland, Russia, and the Monetary Authority of Singapore. While African central banks have historically been… Read More Here
ARSP Director General Miguel Kashal Visits MES Group Facilities in Lubumbashi 3 Mining in DRC Events & Expos Mining Equipment 

ARSP Director General Miguel Kashal Visits MES Group Facilities in Lubumbashi

Constance
Miguel Kashal, the Director General of the Regulatory Authority for Subcontracting in the Private Sector (ARSP), visited the Mining Engineering Services Group (MES) installations in Lubumbashi, the capital of Haut-Katanga Province, as part of his participation in DRC Mining Week on Thursday, June 13, 2024. During his visit, Kashal and his delegation met with MES managers and then toured the facilities of Congo Piping SAS, a pipe manufacturing factory founded in 2021. This state-of-the-art facility offers solutions for HDPE pipes and fittings and combines technical expertise with extensive experience in… Read More Here
Subcontractors Urged to Enhance Value Proposition during DRC Mining Week 2024 4 Mining in DRC Events & Expos 

Subcontractors Urged to Enhance Value Proposition during DRC Mining Week 2024

Constance
How do investment opportunities impact subcontractors in the mining sector? What investment model benefits Congolese businesses? How can a solid business foundation be built? These questions were central to a session on bank support and investment during a networking breakfast organized on the sidelines of DRC Mining Week on Thursday, June 13, 2023. During the session, panelists encouraged participants to leverage ecosystem partners to enhance the value proposition in the mining industry. Serge Bilambo, Director of the Large Enterprises Department at Ecobank, discussed the syndication solutions essential for banks to… Read More Here
Hugo Sinza Advocates for Congolese Energy Solutions at DRC Mining Week 5 Mining in DRC Energy Events & Expos 

Hugo Sinza Advocates for Congolese Energy Solutions at DRC Mining Week

Constance
Speaking at the DRC Mining Week panel on “Building a Sustainable Energy Plan Using the DRC’s Energy Potential,” Hugo Sinza, Director of External Relations at TFM, emphasized the urgent need for Congolese solutions to the energy crisis. “Every minute we hesitate to make decisions on energy solutions, we lose millions for the country. Investors need energy. If we don’t produce energy, all these mining projects driving the economy will collapse. While we do import energy, our import capacity is very limited,” he declared. Sinza called for action over discourse, advocating… Read More Here
President Tshisekedi Chairs Inaugural Council of Ministers Meeting for Suminwa Govt 6 Mining in DRC Governance 

President Tshisekedi Chairs Inaugural Council of Ministers Meeting for Suminwa Govt

Constance
On Friday, President Felix Tshisekedi chaired the first meeting of the Council of Ministers for the newly inaugurated Judith Suminwa Government at the African Union City. This meeting, held three days after the government’s inauguration by the National Assembly on June 12, served as an initial contact between the President and the members of the new administration. During the Council of Ministers, President Tshisekedi delivered an orientation speech to the new members of the National Executive. He congratulated each member and highlighted the significant challenges ahead, emphasizing the necessity for… Read More Here
IMF Analysis: Global Economy Shows Resilience Amid Uneven Growth 7 International Economy 

IMF Analysis: Global Economy Shows Resilience Amid Uneven Growth

Constance
In a recent analysis published by the International Monetary Fund (IMF), experts assert that the global economy remains resilient despite uneven growth. Following the pandemic, supply chain disruptions, an energy and food crisis due to Russia’s war against Ukraine, and soaring inflation have prompted synchronized tightening of monetary policy worldwide. Global growth reached its lowest point of 2.3% at the end of 2022, just after the median headline inflation rate peaked at 9.4%. According to projections in the new World Economic Outlook, growth for this year and next is expected… Read More Here
DRC Mining Week Highlights: Balancing Mining Priorities and Community Needs 8 Mining in DRC Events & Expos 

DRC Mining Week Highlights: Balancing Mining Priorities and Community Needs

Constance
The second day of DRC Mining Week focused on discussing mining trends and priorities. Serge Mumbu, Managing Director of Target SARL, emphasized the need to reconcile the priorities of miners with those of local communities for economic balance. He shared these insights on Thursday, June 13, 2024, during his panelist intervention. The panel addressed several critical questions, focusing on identifying geopolitical trends that could shape the mining sector in the DRC in the coming years. Key questions included: -What mining priorities are being set by the DRC government and the… Read More Here
Cyril Ramaphosa Re-elected as South Africa’s President in Historic Coalition Deal 9 Governance International 

Cyril Ramaphosa Re-elected as South Africa’s President in Historic Coalition Deal

Constance
South Africa’s parliament has re-elected Cyril Ramaphosa as the country’s president following an unprecedented coalition deal between the governing African National Congress (ANC) and several opposition parties. This new government of national unity brings together Ramaphosa’s ANC, the centre-right Democratic Alliance (DA), and smaller parties, marking a significant shift in the nation’s political landscape. In his victory speech, President Ramaphosa praised the new coalition, emphasizing the electorate’s expectation for leaders to “act and to work together for the good of everyone in our country.” The coalition agreement was finalized amidst… Read More Here
Zambia Announces Stability in Fuel Supply and Progress on TAZAMA Pipeline Open Access Regime 10 Mining in Zambia Oil & Gas Petroleum 

Zambia Announces Stability in Fuel Supply and Progress on TAZAMA Pipeline Open Access Regime

Constance
Energy Permanent Secretary, Mr. Peter Mumba has provided key updates on the fuel situation in Zambia during a press briefing, emphasizing the country’s ample petroleum and diesel stocks, and urging the public to remain calm. Mr. Mumba highlighted the government’s ongoing efforts to implement an open access regime for the TAZAMA pipeline through a competitive bidding process, which is currently at the award stage.  He noted the importance of this development, particularly as 100% of petroleum products are delivered by road, while 80% of diesel is transported through the TAZAMA… Read More Here

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