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Concerns Mount Over Mining Expansion in DRC's Okapi Wildlife Reserve 21 Mining in DRC Environment Social Governance (ESG) 

Concerns Mount Over Mining Expansion in DRC’s Okapi Wildlife Reserve

Constance
The burgeoning presence of artisanal and semi-industrial mining activities within the Okapi Wildlife Reserve (RFO) in Mambasa, located in the Bunia territory of Ituri province, has become a focal point for conservationists responsible for safeguarding this protected area of the Congolese state. Officials have pointed fingers at Chinese individuals as the primary instigators behind these practices. Albert Walaga, the manager of the reserve, expressed urgent concerns about the exploitation occurring within the reserve, attributing it to Chinese nationals. He emphasized the need for prompt action from all stakeholders to address… Read More Here
Zambia Revenue Authority Faces Defamation Suit from Mashrock Mining 22 Mining in Zambia 

Zambia Revenue Authority Faces Defamation Suit from Mashrock Mining

Constance
Mashrock Mining Limited finds itself embroiled in a legal dispute with the Zambia Revenue Authority (ZRA), alleging defamation and demanding $5 million in damages to its business reputation. The heart of the matter, filed in the Lusaka High Court, revolves around an article published on the official ZRA page, later disseminated across various media platforms. Titled “ZRA unearths tax evasion scheme involving over K82 million,” the article implicates Mashrock Mining Limited in alleged tax evasion activities. The mining company contends that these publications occurred amidst ongoing investigations by the ZRA… Read More Here
IMF Mission Acknowledges Zambia's Economic Progress Amid Challenges 23 Mining in Zambia Economy 

IMF Mission Acknowledges Zambia’s Economic Progress Amid Challenges

Constance
A recent visit from the International Monetary Fund (IMF) to Zambia has underscored the nation’s significant advancements in fiscal adjustments, bolstering social sector spending, and efforts toward debt sustainability. Conducted as part of the third review of the Extended Credit Facility (ECF) Programme, the mission took place from April 24 to May 7, 2024, with a focus on various economic facets, including the impact of drought on the economy. Despite encountering global adversities, Zambia has demonstrated notable strides in fiscal management and investment in social sectors, as highlighted by the… Read More Here
Copper price above $10,000 as supply worries counter faltering demand 24 International Copper 

Copper price above $10,000 as supply worries counter faltering demand

Constance
Copper climbed above $10,000 a ton as predictions for tighter global supplies and rising consumption in electric vehicles and power grids countered signs of demand destruction in top user China. Prices of copper have risen 17% this year on fears of shortages, with aging mines forecast to struggle to keep pace with demand. Supply growth is stagnating, according to ANZ Group Holdings Ltd. analysts including Daniel Hynes. Prices needed to stay around $12,000 a ton to achieve a 10% rate of return for a 300,000-ton mine, they said. Still, Chinese… Read More Here
Rio Tinto Keeps Bid for Anglo American on the Table-Report 25 International 

Rio Tinto Keeps Bid for Anglo American on the Table-Report

Constance
In recent months, Rio Tinto (ASX, LON: RIO) has reportedly contemplated making a bid for Anglo American (LON: AAL), the world’s second-largest miner, currently targeted by BHP (ASX: BHP). While Rio Tinto’s market capitalization trails behind BHP’s, it has not discounted the possibility of pursuing a partial or complete acquisition of Anglo American. According to the Australian Financial Review, Rio Tinto’s management remains open to exploring options regarding Anglo American, including a potential all-share offer for segments or the entirety of the company. Unlike BHP, Rio Tinto already operates in… Read More Here
Panama president-elect rules out FQM talks until arbitration dropped 26 International 

Panama president-elect rules out FQM talks until arbitration dropped

Constance
Panama’s president-elect has ruled out talks with Canadian miner First Quantum Minerals until it drops multiple arbitration proceedings it has launched seeking billions of dollars in compensation from the government over a mine shutdown order. President-elect Jose Raul Mulino spoke about his plans for the major copper mine, once responsible for some 5% of Panama’s economic activity and some 40% of First Quantum’s revenue, in an interview with local news radio program Panama en Directo on Thursday. “To consider talking about mining, those arbitrations need to be suspended,” Mulino said,… Read More Here
CNPAV Urges Probe into Cominière's Handling of Manono Lithium Deposit 27 Mining in DRC Battery Metals Lithium 

CNPAV Urges Probe into Cominière’s Handling of Manono Lithium Deposit

Constance
In a press release issued on Friday, May 10, the Congo Is Not for Sale (CNPAV) coalition demanded an official investigation into the management of the Kitotolo-Manono lithium deposit by Cominière, a state-owned mining company in the Democratic Republic of Congo (DRC). The CNPAV alleges that Cominière received $70 million from Zijin Mining, a Chinese company headed by Jean David E’ngazi, who also sits on the board of directors of Cominière. The “donation,” as termed by CNPAV, was part of a joint venture agreement for the exploitation of the Kitotolo-Manono… Read More Here
Congolese Entrepreneur Launches Lumbwe Photovoltaic Power Plant 28 Mining in DRC Energy 

Congolese Entrepreneur Launches Lumbwe Photovoltaic Power Plant

Constance
Participants at the energy conference in Lualaba witnessed the fruition of a pioneering initiative as they toured the Lumbwe photovoltaic power plant, spearheaded by Congolese entrepreneur Éric Monga’s Kipay Investments. Situated in the village of Lumbwe, the project stands as a testament to homegrown innovation and determination to address Katanga’s pressing electricity shortage. Driven by entirely Congolese capital, Kipay Investments seized the opportunity presented by the liberalization of the electricity sector to embark on this transformative venture. From inception to execution, the project was steered by local talent, with Congolese… Read More Here
US-Led Mineral Security Partnership Applauds New Germanium Contract in DRC 29 Mining in DRC 

US-Led Mineral Security Partnership Applauds New Germanium Contract in DRC

Constance
The Mineral Security Partnership (MSP), spearheaded by the United States, celebrates the recent germanium purchasing and processing agreement between STL, a subsidiary of Générale des Carrières et des Mines (Gécamines), and Belgian company Umicore. This collaboration, highlighted in a press release on May 8, 2024, underscores MSP’s commitment to securing critical mineral supply chains while fostering economic growth in regions like the Democratic Republic of Congo (DRC). By facilitating sustainable recycling and bolstering technical expertise in the DRC, the agreement promotes the circular economy and strengthens Gécamines’ pivotal role in… Read More Here
Jean-Marie Kanda Urges DRC to Prioritize Sovereignty for Harnessing Strategic Minerals 30 Mining in DRC Battery Metals 

Jean-Marie Kanda Urges DRC to Prioritize Sovereignty for Harnessing Strategic Minerals

Constance
European countries and others have set ambitious targets to transition to electric mobility by 2035, with electric batteries being a cornerstone of this endeavor, consisting of lithium and other vital minerals found in the Democratic Republic of Congo (DRC). However, the DRC faces challenges in fully leveraging its strategic mineral wealth, as foreign mining companies currently hold significant control over these resources. At an energy conference held on Thursday, May 9, 2024, experts emphasized the need for the DRC to assert its sovereignty and swiftly adapt to capitalize on its… Read More Here

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