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ZEMA Approves $10 Billion Worth of Projects in 2024, Mining Leads the Way 34 Mining in Zambia New Mining Projects 

ZEMA Approves $10 Billion Worth of Projects in 2024, Mining Leads the Way

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The Zambia Environmental Management Agency (ZEMA) has approved 1,325 projects in 2024, with a total investment value of $10 billion, marking a significant rise from the 1,129 projects worth $7 billion approved in 2023. In a statement issued on Friday, ZEMA Board Chairperson, Professor Lovejoy Malambo, revealed that mining projects led the approvals, accounting for 678 projects or 51% of the total. “The Environmental Assessment Committee of ZEMA’s 5th Board of Directors approved 108 development projects during its 27th ordinary meeting held on December 27, 2024,” Malambo said. The manufacturing… Read More Here
Timothy Foden Warns of Persistent Risks for Foreign Mining Companies in Africa 35 International 

Timothy Foden Warns of Persistent Risks for Foreign Mining Companies in Africa

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Timothy Foden, Partner and Co-Head of the Arbitration Group at Boies Schiller Flexner, has cautioned that foreign mining companies operating in Africa continue to face significant risks. Boies Schiller Flexner specializes in representing mining companies in disputes with sovereign states. Foden attributes these risks to the rise of “Coup Belt” states, which are challenging the Western-dominated international order and increasingly aligning with Russian and Chinese interests. He noted that while some African nations, such as Mozambique and Zambia, have demonstrated prudent dealings with foreign investors, optimism regarding a broader trend… Read More Here
Republic of Congo Finalizes Study on Development Minerals to Boost Local Economic Growth 36 International 

Republic of Congo Finalizes Study on Development Minerals to Boost Local Economic Growth

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The Republic of Congo’s Ministry of Mining Industries and Geology, in collaboration with the United Nations Development Program (UNDP), has convened a steering and review committee to finalize a baseline study on development minerals. This initiative is part of a €13.1 million capacity-building project aimed at enhancing the management and utilization of these underexploited resources to drive local economic growth. The study identifies development minerals, such as construction materials and industrial minerals, as crucial to employment generation and economic activity. This is particularly relevant during the Republic of Congo’s municipalization… Read More Here
DRC Ratifies Hydrocarbon Cooperation Agreement with Uganda 37 Mining in DRC Oil & Gas 

DRC Ratifies Hydrocarbon Cooperation Agreement with Uganda

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Following approval by both the National Assembly and Senate during the September session, Law No. 24/022 of December 30, 2024, authorizing the ratification of a cooperation agreement on the exploitation of hydrocarbons and joint deposits between Uganda and the Democratic Republic of Congo (DRC), has been promulgated by President Félix-Antoine Tshisekedi. The announcement was made on Tuesday, December 31, 2024, through a series of orders broadcast on national television (RTNC). This ratified agreement, signed in Kampala on June 23, 1990, and January 25, 2008, was presented by Minister of Hydrocarbons,… Read More Here
Copper Prices Remain Volatile, Straining DRC's Economy 38 Mining in DRC Copper Economy 

Copper Prices Remain Volatile, Straining DRC’s Economy

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Copper, the Democratic Republic of Congo’s (DRC) main export product, continues to experience significant price fluctuations on international markets. According to the latest data from the National Commission of Mercuriales at the Ministry of Foreign Trade, the price of copper dropped to 8,824 US dollars per ton during the week of December 30, 2024, to January 4, 2025, marking a decrease of 1.33% compared to the previous week. This ongoing volatility is causing concern for the Congolese economy, which relies heavily on copper exports for revenue. Experts warn that these… Read More Here
DRC Reports Decline in Child Labor in Cobalt Mines Amid Controversy 39 Mining in DRC Artisanal mining Cobalt 

DRC Reports Decline in Child Labor in Cobalt Mines Amid Controversy

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In its report published on December 31, 2024, the National Human Rights Commission of the Democratic Republic of Congo (CNDH) highlighted a decrease in the number of children working in cobalt mines in the Haut-Katanga and Lualaba provinces. However, the reported figures have sparked controversy. Prior to 2019, it was estimated that 360,000 children were working in these mines, according to organizations such as UNICEF. In contrast, the Congolese government reported a much lower figure of 14,850 child laborers. The CNDH, after consultation with Mines.cd, now estimates that the total… Read More Here
Tin Price in the DRC Sees Modest Increase Amid Sustained Demand 40 Mining in DRC News in Brief Tin 

Tin Price in the DRC Sees Modest Increase Amid Sustained Demand

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The price of tin, the Democratic Republic of Congo’s (DRC) main export mineral, has experienced a slight rise this week. According to the latest figures from the National Mercurial Commission of the Ministry of Foreign Trade, the price of tin reached $28,637.50 per ton for the week of January 6 to 11, 2025. This marks a modest increase of 0.13% compared to the previous week. While the rise is small, it reflects ongoing strong demand for this essential metal, widely used in industries such as electronics and metallurgy. Read More Here
China Strengthens Export Controls on Battery Technology to Safeguard Strategic Advantage 41 International Battery Metals 

China Strengthens Export Controls on Battery Technology to Safeguard Strategic Advantage

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China has announced plans to tighten export controls on critical battery technologies, a move aimed at securing its supply chain and bolstering its dominance in the global new energy sector. The proposal, unveiled by the Ministry of Commerce in a notice seeking public feedback, highlights restrictions on technologies related to lithium refining and battery chemical production. This development follows earlier export bans on key materials like gallium, germanium, antimony, and superhard materials, targeting the United States and other markets. According to state-run Xinhua News Agency, the restrictions are intended to… Read More Here
KoBold Metals Raises $537 Million to Accelerate AI-Driven Mineral Exploration 42 Exploration Copper Corporate News New Mining Projects 

KoBold Metals Raises $537 Million to Accelerate AI-Driven Mineral Exploration

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KoBold Metals, a Berkeley-based mining and artificial intelligence (AI) start-up backed by Bill Gates and Jeff Bezos, has raised $537 million in its latest funding round. This Series C round values the company at $2.96 billion and was co-led by existing investor T. Rowe Price and Durable Capital Partners. Other participants included Gates’ Breakthrough Energy Ventures, Andreessen Horowitz, and new backers like StepStone. With total funding of $1 billion to date, KoBold is positioning itself as a leading competitor in the critical minerals sector, challenging China’s dominance. The company specializes… Read More Here

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