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Congo poll leaves uncertainty for miners at heart of EV revolution

By: Reuters     14th January 2019 The surprise outcome of Congo's election - a vote meant to bring closure to years of turmoil under President Joseph Kabila – has done little to ease uncertainty for miners and investors in a country crucial to the electric vehicle revolution. Democratic Republic of Congo is the world's leading... 

Surface-mining opportunities lie in market-related commodities

By: Jessica Oosthuizen     26th October 2018 Johannesburg-based mining equipment distributor Vermeer Equipment Suppliers is starting to focus on certain market-related commodities and associated opencast mines to market its Surface Miner surface excavation machines, says mining and pipeline sales segment manager Gareth Cramond. The... 

Congo miners seek concessions in new code as arbitration on hold

By: Bloomberg     12th October 2018 Miners in the Democratic Republic of Congo are seeking concessions under the nation’s new industry code and holding off challenging it through arbitration, in the hope they can still wring out a compromise in the world’s main source of cobalt and Africa’s biggest copper producer. Producers... 

Congo State miner warns Randgold on transfer of Kibali mine to Barrick

By: Reuters     28th September 2018 Congo's State miner Sokimo warned Randgold Resources on Friday that Sokimo would "assert its rights" in Barrick Gold Corp's acquisition of Rangold's stake in the Kibali project under a takeover deal, but Sokimo did not clarify its plans. Canada's Barrick Gold agreed to buy Randgold Resources Ltd... 

Congo expects declaration on strategic metals by end of October

By: Bloomberg     18th September 2018 The Democratic Republic of Congo expects to issue a decree identifying strategic metals by the end of October, a government official said. Congo’s government has said it’s preparing to categorize cobalt and other metals as strategic, imposing a 10% royalty tax on producers including Glencore and... 

Congo plans to build special economic zone for cobalt users

By: Bloomberg     12th September 2018 The Democratic Republic of Congo plans to establish special economic zones for companies that manufacture goods from the country’s minerals, President Joseph Kabila said. “There is a need to create special economic zones for the final users of Congolese natural resources,” Kabila said at a... 

Congo Mines Minister insists no compromise on new mining code

By: Reuters     12th September 2018 Democratic Republic of Congo's mines minister said on Wednesday that a new mining code signed into law in March that hikes royalties and taxes cannot be called into question. Addressing a mining conference in the copper and cobalt-mining city of Kolwezi, Martin Kabwelulu called on industry... 

Cobalt explorers see Congo mine law offset by price, high grades

By: Bloomberg     21st June 2018 Junior miners exploring for cobalt in the Democratic Republic of Congo (DRC) reckon increased prices and the country’s high-grade deposits will offset the added costs of new legislation larger companies have opposed. Congo, the world’s largest source of the metal, this month began implementing an... 

China marks cobalt, copper ascendancy in Congo with new group

By: Bloomberg     19th June 2018 More than 30 Chinese companies active in the Democratic Republic of Congo formed a business association backed by both countries’ governments, further cementing China’s ascendancy in copper and cobalt production in the central African nation. The 35-member Union of Mining Companies with Chinese... 

Gecamines says Glencore deal to yield billions for Congo State

By: Bloomberg     15th June 2018 A settlement between a Glencore unit and Democratic Republic of Congo’s State-owned Gecamines will contribute-billions of dollars of revenue to the government over the next decade, an official said. Glencore reached a deal with Gecamines on Tuesday to end a legal dispute over Kamoto Copper, which... 

China Inc takes another bite of Congo's copper mining riches

By: Bloomberg     12th June 2018 China is making another big bet on copper in the Democratic Republic of Congo, deepening its presence in a country that’s proved very difficult for Western business. Congo holds huge reserves of copper, but is also one of the hardest countries to navigate -- with problems with security,... 

Miners warn Congo it faces $3bn revenue loss over law

By: Bloomberg     30th May 2018 Mining companies in the Democratic Republic of Congo told the government it will lose more than $3-billion over a decade and face legal action if plans to implement a new industry code proceed. Miners including Glencore and Randgold Resources are demanding the government abandon aspects of the... 

DRC Mining Code draft regulations complete, but industry still hopes for changes

By: Marleny Arnoldi     15th May 2018 Major mining companies operating in the Democratic Republic of Congo (DRC) remain hopeful that meaningful changes can still be made to the 2018 Mining Code.  

Louis Dreyfus completes $466m sale of metals unit to Chinese fund

By: Reuters     11th May 2018 Louis Dreyfus Company said on Friday it had completed the sale of its metals business to a Chinese investment fund for $466-million, as part of a push to revive profits by focusing on its core agricultural markets. Louis Dreyfus announced in December an agreement to sell LDC Metals to NCCL... 

Congo finalising mining rules after company concerns ignored

By: Bloomberg     9th May 2018 The Democratic Republic of Congo’s Mines Ministry said it’s completing work on new regulations, as a draft document showed the government has so far ignored companies’ key concerns about the reforms. Miners including Glencore and Randgold Resources have demanded the government dial back aspects... 

Canada's First Cobalt eager for more after US Cobalt buy

By: Reuters     26th April 2018 Canada's First Cobalt, which has just bought another cobalt developer, is keen for more acquisitions to accelerate bringing on production to meet North American demand, a senior company official said. Expectations of soaring demand for cobalt because of its use in electric vehicles has inspired... 

Industry hopeful that DRC mining code issues can be resolved

By: Simone Liedtke     23rd April 2018 Mining companies operating in the Democratic Republic of Congo (DRC) are hopeful that their current engagement with civil society and other key interest groups will contribute to a better understanding of certain issues that need to be dealt with before the country’s new mining code is... 

Miners insist on rewrite of Congo mining code to protect exemptions

By: Reuters     6th April 2018 International mining companies have insisted that Democratic Republic of Congo amend portions of a new mining code to respect exemptions they were granted by its predecessor. The companies announced last week that they had submitted a formal proposal to the government but the document itself,... 

Mining industry submits mining code proposal to DRC govt

By: Marleny Arnoldi     29th March 2018 Mining industry representatives on Thursday submitted a formal proposal to the Democratic Republic of Congo (DRC) Ministry of Mines, aimed at addressing concerns about the country’s recently revised mining code and government’s revenue needs.  

Cobalt upstarts add capacity in Congo as prices triple

By: Bloomberg     27th March 2018 A little-known cobalt miner in the Democratic Republic of Congo plans to ramp up output so fast it will soon be out-produced only by industry leader Glencore. Chemaf, a closely held Lubumbashi-based company, and several other firms are capitalizing on a boom in demand that’s transforming small... 

DRC curbs expectations of miners about concessions on code

By: Bloomberg     19th March 2018 Mining companies in the Democratic Republic of Congo (DRC) won’t secure substantial concessions in talks with the state about changes to the industry code, a senior mining official said. The operators, including Glencore Plc and Randgold Resources, are pressing the government to row back on some... 

Glencore, Randgold mines quit Congolese industry body ahead of govt talks

By: Reuters     16th March 2018 Mines run by Glencore, Randgold Resources and three other international companies have quit the Democratic Republic of Congo's chamber of commerce, saying the industry body does not adequately represent their interests after the introduction of a new mining law. The miners said in a joint... 

Cobalt to be declared a strategic mineral in the DRC

By: Reuters     15th March 2018 Democratic Republic of Congo will declare cobalt and coltan, used in electric vehicle and renewable energy technology, as "strategic" minerals which will earn the country higher royalties, an adviser to the Prime Minister said on Wednesday. A new mining code was signed into law on Friday by... 

Congo's Kabila signs into law new mining code

By: Reuters     12th March 2018 Democratic Republic of Congo President Joseph Kabila signed into law on Friday a new mining code that raises royalties and taxes on operators, the presidency said in a statement. International mining companies that operate in Congo, Africa's top copper producer, have vigorously opposed the new... 

Ivanhoe welcomes ‘positive’ discussions with Kabila on DRC mining code

By: Marleny Arnoldi     9th March 2018 Diversified miner Ivanhoe Mines has welcomed the commitment made on Wednesday by mining industry representatives and Democratic Republic of Congo (DRC) President Joseph Kabila to continue productive and mutually advantageous discussions to resolve industry concerns arising from the DRC’s 2018... 

Congo's Kabila to sign new mining code soon after meeting with miners

By: Reuters     8th March 2018 Democratic Republic of Congo President Joseph Kabila will soon sign into law a new mining code, the government and the country's mining companies said on Wednesday. The code has been vigorously opposed by the miners. The announcement followed a nearly six-hour meeting between Kabila and mining... 

Kazakh miner ERG revives sale of Congo copper mine – sources

By: Reuters     7th March 2018 Debt-laden Kazakh miner Eurasian Resources Group (ERG) has revived efforts to sell its Frontier copper mine in Democratic Republic of Congo (DRC) despite a drop in valuation to about $400-million, two banking sources said. The company, which is working with VTB Capital and Rothschild to spin off... 

Kabila meeting with mining companies postponed until Wed

By: Reuters     6th March 2018 Democratic Republic of Congo President Joseph Kabila's plan to discuss proposed changes to mining royalties with mining company representatives on Tuesday was postponed by a day, a government minister said. No reason was given for the decision to delay the meeting. 

Congo's Kabila to meet companies over mining code revision

By: Reuters     5th March 2018 Democratic Republic of Congo President Joseph Kabila will meet mining company representatives on Tuesday to discuss a mining code revision awaiting his signature that would raise taxes and royalties, the mines minister said. The bill was adopted by parliament late in January but the industry has... 

Congo says will campaign to prevent child labour in cobalt mines

By: Reuters     2nd March 2018 The Democratic Republic of Congo will launch this month new monitoring and tracing mechanisms to tackle child labour in cobalt and copper production, a mines ministry official said on Thursday. Sourcing of the metals has come into focus as manufacturers scramble to secure supplies of cobalt, a... 

Miner Freeport says no plans to sell Congo cobalt asset as buyers circle

By: Reuters     27th February 2018 Several parties are interested in buying Freeport-McMoRan's cobalt project in the Democratic Republic of Congo but not at a price that would interest the miner and so it is not planning a sale, Freeport's chief executive officer said. As a result, Freeport is looking at other options for the... 

Kabila yet to sign new mining code as deadline nears

By: Reuters     20th February 2018 Democratic Republic of Congo's President Joseph Kabila has not yet signed into law a new mining code, a senior aide said on Tuesday, as international mining companies wage a last-ditch lobbying effort against the measure. The comments by Jean-Pierre Kambila, Kabila's deputy chief of staff, come... 

Deadly mines linked to child labour thrive in rush for batteries

By: Bloomberg     20th February 2018 The appetite for electric cars is driving a boom in small-scale cobalt production in the Democratic Republic of Congo, where some mines have been found to be dangerous and employ child labour. Production from so-called artisanal mines probably rose by at least half last year, according to the... 

Top mining companies' value increased by 15.5% y/y

By: Megan van Wyngaardt     12th February 2018 The 25 top global mining companies were worth an aggregate $818.2-billion at the end of January, a 15.5% increase compared with their value in the corresponding month in 2017, when the same companies held a value of $708.5-billion, research firm S&P's Global Market Intelligence said on Monday. A... 

Congo's Gecamines wants to revise contracts with mining partners

By: Reuters     5th February 2018 Democratic Republic of Congo's state mining company Gecamines said on Monday it wanted to renegotiate contracts with its international partners this year to give the state a bigger share of the revenues. Congo is Africa's biggest copper and cobalt producer and also mines gold and diamonds, but it... 

Africa's Sula Iron and Gold changes gear with DRC cobalt licence

By: Reuters     12th December 2017 Junior explorer Sula Iron and Gold plans to change its name to African Battery Metals, reflecting a shift in focus after it bought a controlling stake in a cobalt licence in Democratic Republic of Congo (DRC). The deal, which needs to be approved by shareholders later this month, would make Sula... 

Volkswagen is said to step up bid for cobalt for electric cars

By: Bloomberg     23rd November 2017 Volkswagen AG is stepping up its hunt for long-term supplies of battery metals it will need to help power electric cars across its entire range. The top automaker invited producers and traders of cobalt, one of this year’s best-performing metals, for talks at its German headquarters this week,... 

Miners told to move DRC HQs as provinces compete for revenue

By: Bloomberg     25th April 2017 The Democratic Republic of Congo told local units of Glencore, China Molybdenum, Ivanhoe Mines and four other mining companies to relocate their head offices as newly demarcated provinces fight over tax revenue and control of mineral projects. The companies, all headquartered in Lubumbashi, the... 

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