A toxic combination of corruption and mismanagement in Democratic Republic of Congo’s revenues agencies and state mining companies is leaching a fifth of all mining revenues away from the state budget, Global Witness reveals today. Its report ‘Regime Cash Machine’ shows that at least $750 million went missing over threeContinue Reading
MMG Ltd has announced progress with two major expansions at its mining operations. The firm has approved extending the life of its Kinsevere copper operation in the Democratic Republic of Congo (DRC) for at least 13 years; while in Peru, the Ministry of Energy and Mines has released the regulatory approvalContinue Reading
The 2022 Mining Expo and Conference has been slated for end of this month. Namibian Chamber of Mines announced it will host its flagship mining expo from 31 August to 1 September in Windhoek. The occasion will the first in-person event for the mining industry after the dawning of the Covid-19 pandemic.Continue Reading
Democratic Republic of Congo’s central bank has announced stiff new financial penalties for companies that fail to repatriate at least 40 percent of their revenues from mineral exports, a decree seen by Reuters on Tuesday showed. Congo, Africa’s top copper producer, has been hit hard by low commodity prices overContinue Reading
China Molybdenum, one of the largest copper and cobalt miners in the world has been ordered to stop controlling operations at Tenke Fungurume, where the Chinese control an 80% stake, while the DRC owns 20%. Commercial Court of Lubumbashi issued the suspension Lubumbashi in favour of the government and itsContinue Reading
The Democratic Republic of Congo has recovered the mining and oil assets worth about $2 billion that was being controlled by Israeli investor Dan Gertler. The recovery follows a commission that was set up for negotiations. Concluded terms of a memorandum of understanding (MoU) enabled the government to recover aContinue Reading
To increase access to renewable energy and expand power delivered to the grid in Mozambique, IFC and Electricidade de Moçambique, E.P. (EDM) signed today a collaboration agreement to develop small-scale solar Photovoltaic (PV) Plants and battery storage facilities. Under the collaboration agreement, announced on the sidelines of the Africa Energy Forum inContinue Reading
Zambia owes major mining companies US $215m in tax refunds as at June 30, 2019. Zambia’s Finance Minister Bwalya Ng’andu made the announcement last week, following the long-running dispute with the miners. In December 2018, the Zambian government reportedly withheld payment, justifying their actions with lack of what they termedContinue Reading
The US$240m deal for Manono lithium-tin project in Democratic Republic of Congo has been completed. The agreement between ASX-listed AVZ Minerals with Chinese operator Suzhou CATH Energy Technologies, provides certainty of funding to progress the venture, pending the award of a mining licence and collaboration development agreement with the local government. TheContinue Reading
DRC’s mining company Gecamines and Ivanhoe Mines IVN have inked a deal that will see Kipushi zinc mine in the Democratic Republic of Congo back to commercial production. The mine located in the province of Haut-Katanga and southeast of the company’s Kamoa discovery, is adjacent to the town of Kipushi and approximately 30 kilometresContinue Reading
