Breaking News
Ivanhoe Mines Announces C$500 Million Private Placement 22 Mining in DRC Copper 

Ivanhoe Mines Announces C$500 Million Private Placement

Constance
Ivanhoe Mines Ltd. announced yesterday December 12 that it has engaged BMO Capital Markets as sole agent in connection with a proposed offering of 41,667,000 Class A common shares (the “Common Shares”), on a private placement basis (the “Offering”) at a price of C$12.00 per Common Share (the “Offering Price”) for aggregate gross proceeds of C$500 million (approximately US$370 million). The Company expects to grant BMO Capital Markets an option, exercisable at the Offering Price up until 48 hours prior to the closing of the Offering, to place up to… Read More Here
Railway project to Link Luanda and DRC 23 Mining in DRC Transport and Logistics 

Railway project to Link Luanda and DRC

Constance
The All-American Rail Group (AARG) signed on Sunday December 10th, in Luanda, a Memorandum of Understanding with the Ministry of Transport with the aim of supporting the railway expansion plan in the North of the country, in an investment estimated at 4.5 billion dollars. Luanda’s connection to the Democratic Republic of Congo (DRC), which aims to strengthen food security in Angola, will boost agricultural expansion in the regions of Uíge, Kwanza-Norte, Bengo, Malanje and Zaire, in close synergy with the logistics platforms of the Soyo, Malanje, Luvo and Lombe.    It will  also enable… Read More Here
European Union satisfied with the Lobito Corridor 24 Transport and Logistics International 

European Union satisfied with the Lobito Corridor

Constance
A delegation representing the European Union (EU) conducted a visit to the Port of Lobito on Saturday, the 9th, aimed at reinforcing its collaborative efforts with Angola concerning the Lobito Corridor. EU Ambassador to Angola, Rosária Bento Pais, highlighted the organization’s commitment to catalyzing the operationalization of the Lobito Atlantic Railway consortium to effectively address outlined challenges. Emphasizing a tangible step in Huambo towards establishing a logistics platform for tropical fruits, Pais underscored the need to witness firsthand the Port of Lobito’s potential. Within the framework of the EU’s “Global… Read More Here
Jubilee Metals Ventures into High-Yield Copper Recovery in Zambia 25 Copper Mining in Zambia 

Jubilee Metals Ventures into High-Yield Copper Recovery in Zambia

Constance
Jubilee Metals Group PLC has solidified a groundbreaking collaboration to extract copper from a sizable waste rock reserve in Zambia. The venture aims to yield over 20,000 tonnes annually, utilizing innovative modular copper units for extraction. With a commitment to processing copper at less than US$4,000 per tonne, Jubilee targets a substantial source in Zambia, where years of copper mining have amassed substantial waste rock reserves. Scheduled to commence construction in the first quarter of 2024, the eco-friendly processing units are poised to be operational within a swift 12-month period… Read More Here
Anglo American Venture TraxIQ to disrupt haulage approach in mining and quarrying 42 International Equipment & Technology Mining technology Technology & Innovation 

Anglo American Venture TraxIQ to disrupt haulage approach in mining and quarrying

Constance
TraxIQ has been launched, a new Anglo American Venture that has set out with the specific aim of disrupting the status quo in haulage in quarrying and mining. It is being led by Luke Smith, who is Principal, Technology Development at Anglo American, working with other key team members including Anglo American Venture Builder Aljoscha Gleser. Smith says TraxIQ is making bold progress towards a smarter, safer, more sustainable future for mining and quarrying, as when your trucks aren’t operating, you’re losing money. He says its autonomous vehicles will reduce… Read More Here
China increases cobalt production in DRC 43 Mining in DRC Battery Metals Cobalt 

China increases cobalt production in DRC

Constance
Chinese mining firms have significantly boosted cobalt production in the Democratic Republic of the Congo (DRC) in a bid to expand their market share, intensifying the strain on a commodity facing a sharp price decline. Cobalt, a crucial component in electric vehicle (EV) batteries, is often combined with nickel to enhance the energy density of lithium-ion batteries. Yet, to address environmental and geopolitical concerns, some EV manufacturers like Tesla Inc. (NASDAQ:TSLA) have shifted from Nickel Manganese Cobalt (NMC) batteries to Lithium Iron Phosphate (LFP) batteries, minimizing their reliance on cobalt.… Read More Here
DRC: lithium prices fall by almost 90%, what is the future of the Manono lithium project?  44 Lithium Battery Metals Mining in DRC 

DRC: lithium prices fall by almost 90%, what is the future of the Manono lithium project? 

Constance
The drop in lithium carbonate futures below US$10,000 per tonne has raised concerns in the market, particularly after the metal reached an impressive US$70,000 per tonne at a point in 2022. This decrease in value has significantly impacted the once-prominent Manono lithium project, rendering it unviable for further development. The Australian company AVZ, responsible for the project, has faced the fallout, bearing the weight of the irreparable losses incurred by the State of the DRC and the public company Cominière. To illustrate the severity of the situation, a comparison is… Read More Here
CNPAV takes legal action against EGAL, CCC and Gécamines for alleged acts of corruption 45 Mining in DRC Mining Policy 

CNPAV takes legal action against EGAL, CCC and Gécamines for alleged acts of corruption

Constance
The Coalition Congo is not for Sale (CNPAV) lodged three complaints at the Office of the Attorney General at the Court of Cassation of the Democratic Republic of Congo in Kinshasa on Friday, December 8, 2023. These complaints detail allegations of corruption, money laundering, and the misappropriation of public funds. During a press conference held at the Memling hotel in Kinshasa on the same day, CNPAV specified the contents of the files. They cited cases involving political figures from both current and previous regimes, along with their relatives, accusing them… Read More Here
MIBA Retirees Urge Payment of Overdue Salaries and Seek World Bank Support 46 Mining in DRC 

MIBA Retirees Urge Payment of Overdue Salaries and Seek World Bank Support

Constance
Retired agents from the Bakwanga mining company (MIBA) recently made a direct appeal to the Minister of Portfolio, Adèle Kahinda, demanding the immediate settlement of over 10 million US dollars in salary arrears. The Union of Retirees MIBA (Syremi Asbl), in an open letter to the Minister, urged for prompt action. They asked the Minister to correspond with Nicolas Kazadi, the Finance Minister, to secure the disbursement of these funds, intended for the accounts managed by the National Social Security Fund (CNSS) benefiting MIBA retirees. In addition to seeking the… Read More Here

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