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Soil sampling gets under way at Red Rock’s DRC copper/cobalt licence

By: Creamer Media Reporter      17th October 2018 A soil sampling programme has started at a copper/cobalt licence in the Democratic Republic of Congo (DRC) owned by Aim-listed natural resources development company Red Rock Resources. The licence was recently acquired from a private seller. 

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... 

Is the reign of Glencore’s billionaire copper king near its end?

By: Bloomberg     9th October 2018 Aristotelis Mistakidis is one of the world’s most powerful commodity traders. For nearly 20 years, the brash, hyperactive Greek known to everyone simply as “Telis” has ruled over the global copper market, buying and selling enough of the red metal to supply every factory in the US twice over.... 

Cobalt mining in DRC poses public health risk – study

By: Nadine James     5th October 2018 Cobalt mining comes at a great cost to public health in the Democratic Republic of Congo (DRC), states new research by Belgium university Katholieke Universiteit (KU) Leuven, and the DRC’s University of Lubumbashi. In a statement on the university’s website last week, KU Leuven department of... 

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... 

Trafigura Group helps re-establish historic African trade route

By: Tasneem Bulbulia     26th September 2018 Independent commodity trading group Trafigura has successfully taken the first step towards reopening one of Africa’s most historic trade routes, with a train journey that ended in the Angolan port of Lobito on Saturday, September 22. A cargo of 800 t of copper blister, bought by Trafigura from... 

New AngloGold boss weighs asset sales to unlock value at miner

By: Bloomberg     26th September 2018 AngloGold Ashanti’s new CEO Kelvin Dushnisky said his goal of unlocking value at the world’s third-largest gold producer will involve focusing on its best assets and selling those that aren’t core to the business. Dushnisky, 55, took over at AngloGold on September 1 as the Johannesburg-based... 

Sundance announces change of control transaction

By: Creamer Media Reporter      25th September 2018 Iron-ore developer Sundance Resources on Tuesday announced that a significant transaction, which would enable the company to advance the development of the Mbalam—Nabeba iron-ore project, in Africa, and leave the developer debt free. In terms of the agreement, Sundance and fellow ASX-listed... 

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 Mines Minister sees strategic-metals decision 'very soon'

By: Bloomberg     14th September 2018 The Democratic Republic of Congo’s government will soon announce which minerals are to be designated “strategic” and subject to a 10% royalty rate, the mines minister said. Congo’s updated mining code, signed by President Joseph Kabila in March and applied since regulations were finalized in... 

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... 

Congo mining revenues triple in H1; oil revenues fall by a third

By: Reuters     10th September 2018 Democratic Republic of Congo's revenues from its mining sector nearly tripled in the first half of 2018 over the same period last year to $864.61-million, the finance ministry said. Revenues from the hydrocarbons sector, however, declined by a third to $67.75-million, the ministry said in a... 

ENRC wins UK appeal in attorney-client privilege case

By: Bloomberg     6th September 2018 A UK appeals court on Wednesday overturned a decision forcing a Kazakh mining company to hand over documents to prosecutors who are investigating the firm for corruption, marking a decisive victory for law firms helping firms manage fraud and bribery cases. The ruling means that Eurasian Natural... 

Congo's biggest coltan miner resumes purchases after output halt

By: Bloomberg     5th September 2018 Societe Miniere de Bisunzu, the Democratic Republic of Congo’s biggest coltan miner, resumed purchases of the ore after a three-month shutdown at one of the country’s largest deposits. Output restarted at SMB’s mining permit, comprising seven sites at Rubaya in east Congo, on August 14 and the... 

Congo's H1 copper production rises 8%; cobalt output up 38%

By: Reuters     31st August 2018 Copper output in Democratic Republic of Congo rose 7.9% year-on-year in the first half of 2018 to 597 249 tonnes and cobalt production jumped 37.6% to 52 491 tonnes, the central bank said on Thursday. Congo is Africa's top copper producer and the world's leading miner of cobalt, which is a key... 

Congo copper faces increased LME scrutiny with audits

By: Bloomberg     16th August 2018 The London Metal Exchange (LME) will start requiring that copper producers which source metal from the Democratic Republic of Congo (DRC) carry out independent audits to prove their material is ethically sourced, according to people familiar with the matter. The LME is reviewing its requirements... 

Banro gold mine trucks attacked in eastern Congo, two dead – army

By: Reuters     12th August 2018 Militiamen in eastern Congo attacked trucks belonging to Banro's Namoya gold mine, killing two people and kidnapping four others, the army said on Saturday, in at least the third attack on mine personnel since last year. The attack was carried out by militiamen from the group Mai Mai Malaika on... 

Randgold looking across the Atlantic

By: Martin Creamer     10th August 2018 African gold mining company Randgold Resources is looking across the Atlantic along the northern edge of South America, which effectively hosts the same geology as West Africa, where the London-listed company has its biggest gold-mining base. This is in addition to intensifying exploration... 

Glencore's poised for record profit despite horrible year

By: Bloomberg     7th August 2018 Glencore may have had a nightmarish year so far, but the world’s top commodity trader is still raking in mountains of money. The company is facing a US corruption probe, got mired in a dispute with its billionaire former partner in the Democratic Republic of Congo and has been caught in the... 

Erudite adopts a fresh approach to transformation 

By: Nadine James     3rd August 2018 Becoming a sustainable and relevant mining industry service provider requires a genuine effort to meet and address issues of localisation and transformation, while fostering local partnerships to develop extractive projects in African countries, suggests engineering, procurement and construction... 

ERG secures electricity supply for DRC copper/cobalt operations

By: Anine Kilian     1st August 2018 Metalkol, a cobalt and copper tailings reprocessing project and a low-cost hydrometallurgical facility owned by Eurasian Resources Group (ERG), has signed an agreement to secure electricity supply for its operations in the Democratic Republic of the Congo (DRC) for up to ten years.   

Katanga on track to achieve full-year guidance

By: Simone Liedtke     31st July 2018 During the second quarter of this year, TSX-listed Katanga Mining made progress with the high-grade clarifier, receiving thickener and the post-leach clarifier that form part of the whole ore leach (WOL) project at subsidiary Kamoto Copper Company’s copper/cobalt mine, in the Democratic Republic... 

Battery chemical surplus sparks plunge in cobalt price

By: Reuters     31st July 2018 A surplus of cobalt chemicals used to make the rechargeable batteries that power electric vehicles has seen Chinese refiners switch to producing metal, sending prices down 30 percent in recent months. The electric-vehicle revolution is expected to boost demand and prices for cobalt, which... 

Kinsevere mine, Democratic Republic of Congo

By: Thabi Madiba     20th July 2018 A copper cathode mine located about 27 km north of the provincial capital Lubumbashi in the Katanga province, in south-east Democratic Republic of Congo. 

How mining tycoons are trying to foil a big UK bribery probe

By: Bloomberg     16th July 2018 It’s a faint echo of the defense being floated by targets of the Mueller probe in the US – an unaccountable circle of bureaucrats manipulating the system to their own ends. But in London, it’s the last ditch effort by a trio of Kazakh oligarchs to derail the UK’s biggest bribery investigation. 

Rising regulatory pressure expected to affect profitability of mining firms in sub-Saharan Africa

By: Natasha Odendaal     6th July 2018 Rising regulatory risks, as a consequence of improving commodity prices, are expected to challenge the improving profitability experienced by mining companies in sub-Saharan Africa over the next few months, the latest report by BMI Research shows. This will be further compounded by widespread... 

US probe darkens Glencore's horizons from Africa to Americas

By: Bloomberg     4th July 2018 The US corruption and money-laundering probe into Glencore Plc represents the sum of all fears for the world’s largest commodity trader and its billionaire CEO Ivan Glasenberg. The possibility that the Justice Department would add to the dizzying array of regulatory and legal headaches the Swiss... 

Moody’s warns of credit implications for Africa as China shifts to consumption-led growth

By: Simone Liedtke     3rd July 2018 China's shift to consumption-led growth will have mixed credit implications for African sovereigns, flattening the trade volumes of oil and ferrous metal exporters, while benefitting other exporters and tourist destinations, Moody's Investors Service said in a report published on Tuesday. "China... 

Congo court suspends hearing on Glencore-owned cobalt mine

By: Bloomberg     2nd July 2018 A court in the Democratic Republic of Congo suspended a hearing about a lawsuit brought by a former shareholder of a Glencore-owned cobalt and copper mine. The case was put on hold pending a decision by the country’s Court of Appeal on whether the High Court should have jurisdiction over the... 

Mining investors spooked as African dispute payments multiply

By: Bloomberg     28th June 2018 Miners across Africa are increasingly using one-time payments to settle disputes with governments, a trend that’s disturbing some investors. A $150-million payment by Glencore’s Katanga Mining to the Democratic Republic of Congo’s Gecamines earlier this month followed Freeport McMoRan’s separate... 

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... 

The Israeli billionaire forcing Glencore to buck US sanctions

By: Bloomberg     16th June 2018 Not many billion-dollar companies would be willing to circumvent US sanctions for their business partner, but then few people are as powerful as Dan Gertler in the Democratic Republic of Congo. Gertler scored a victory when Glencore said on Friday that it would evade US sanctions to keep paying... 

Glencore’s DRC settlements should allay fears about asset seizure – analyst

By: Chanel de Bruyn     15th June 2018 Diversified miner Glencore’s settlement, this week, of various disputes with entities in the Democratic Republic of Congo (DRC), should allay investor concerns about the risk of a seizure of its DRC assets, says Goldman Sachs. Glencore, led by CEO Ivan Glasenberg, on Friday announced that it had... 

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... 

Glencore says settled Congo mining dispute

By: Reuters     15th June 2018 Miner and commodities trader Glencore has settled its Congo mining dispute with two companies associated with Israeli billionaire Dan Gertler by agreeing to pay royalties in a currency other than US dollars, Glencore said on Friday. US sanctions on Gertler, Glencore's former Israeli partner in... 

Gecamines plans to renegotiate with foreign partners

By: Reuters     14th June 2018 Democratic Republic of Congo State miner Gecamines has called on its foreign partners to renegotiate the terms of joint ventures it considers to be unfair, its chairman said on Thursday. Heavily in debt and with dwindling output, Gecamines has long complained about its joint venture terms. It... 

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