Tenke Fungurume Mining Urges DRC Mining Code Implementation
Speaking on the last day of DRC Mining Week 2023, Patrick Mukonki, Director of Mines at Tenke Fungurume Mining, insisted on the implementation of the Mining Code in the Democratic Republic of Congo (DRC).
For this mining expert, “the laws are correctly dimensioned in the mining sector in the DRC but it just lacks the implementation”.
Patrick Mukonki was one of the panelists in the sponsored forum, Friday, June 16, 2023, by EquityBCDC.
Focused on the theme entitled “What are the expectations of downstream companies with regard to mining development and sustainable livelihoods for miners and their communities? »,
The debates laid a foundation on different themes such as: What strategic policy is the DRC putting in place to contribute to the change of the mining paradigm in Africa?
When can we expect mining investments with Congolese capital? The mining legacy: Shaping a better future through the development of green energy to reduce gas emissions.
Methodology: Position Africa in general and the DRC in particular to integrate the value chain of minerals and batteries for electric cars. How do miners today perceive the assignment of 0,
The purpose of this panel was to open discussions on next generation content and initiatives put in place for development.
The Director of Mines of Tenke Fungurume Mining (TFM) also indicates that mining companies are adapting to a sometimes restrictive economic model.
“The economic model that we use today takes into account the realities with their current inadequacies to achieve a certain profit. As a miner, we make a certain profit.
When I take a look back at 20 years ago when we had just put in place the 2002 Mining Code to attract investors, we only had oxidized ores, but today in the large mining companies of instead you will find that the oxidized ores are exhausted.
I challenge everyone to give us hard data of the achievements of these minerals across the entire Republic in all sectors. As a miner when I am in good standing with the Congolese state, I make my profit. “, he insisted.
One of the questions at the heart of this panel was to analyze whether there is an impact on the communities. At this level, the Director of Mines of Tenke Fungurume Mining invited the stakeholders to pay particular attention to this issue.
As a reminder, Tenke Fungurume Mining is one of the mining companies that took part in DRC Mining Week. She was acclaimed among the best students in compliance with the law on subcontracting.
It should be noted that TFM is the second largest producer of cobalt and one of the main producers of copper in the world.
Covering an area of over 1,500 square kilometres, the Tenke Fungurume Mine (TFM) in the DRC was established in 2009. It specializes in the exploration, mining, extraction, processing and sale of copper and cobalt, and has a comprehensive set of techniques and processes for all stages, from mining to processing. It mainly produces copper cathodes and cobalt hydroxide.
The Tenke Fungurume deposits are one of the largest known copper and cobalt reserves in the world. The concessions contain abundant quantities of high-grade ore allowing several decades of exploitation.
Its production target is 400,000 tonnes of copper per year. The concessions with a total area of 1,437 km2 are located in the province of Katanga in the Democratic Republic of Congo (DRC).
