http://www.miningweekly.com
R/€ = 16.76 Change: 0.00
R/$ = 14.64 Change: 0.01
Au 1184.72 $/oz Change: 7.82
Pt 786.75 $/oz Change: 5.92
 

Topic

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... 

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... 

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... 

Congo mining code regulations signed into law – aides

By: Reuters     11th June 2018 Regulations to implement Congo's new mining code have been signed into law with no changes, advisers to the prime minister told Reuters on Saturday, despite objections from mining firms that have been threatening legal action. Prime Minister Bruno Tshibala signed the regulations into law... 

Glencore faces new legal challenge against Congo cobalt mine  

By: Bloomberg     8th June 2018 For Glencore in the Democratic Republic of Congo, problems don’t form an orderly queue: they pile up on top of each other. In the latest example of the commodity giant’s deteriorating relationships in the country, a convicted fraudster has resurrected a legal claim the company considered dead,... 

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... 

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... 

Congo court suspends Gecamines bid to dissolve Glencore unit

By: Bloomberg     8th May 2018 A Democratic Republic of Congo court suspended proceedings by State-owned mining company Gecamines to dissolve a unit of Glencore until next month. The Commercial Court in Kolwezi, in southeastern Congo, ordered the suspension while it awaits a June 15 ruling by the Supreme Court on its... 

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... 

Congo mines minister rejects industry proposal to retain exemptions

By: Reuters     23rd March 2018 Democratic Republic of Congo's mines minister rejected a proposal by mining companies on Friday to retain exemptions and scrap some taxes in exchange for higher royalties than those in a new mining code, calling the taxes "untouchable". Mines Minister Martin Kabwelulu was reacting to a proposal... 

As commodities roar, Africa wants bigger slice of mining pie

By: Bloomberg     22nd March 2018 One by one, the biggest names in African mining are getting squeezed. The tactics might be blunt, but the message is clear: the countries where they operate want a bigger share of the proceeds. The collapse in commodities through 2015 hobbled some of Africa’s biggest resource economies, stunting... 

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... 

Mining companies to engage with DRC on new mining code

By: Marleny Arnoldi     15th March 2018 A legal and technical team representing the major mining companies operating in the Democratic Republic of Congo (DRC) arrived in Kinshasa on Thursday for 30 days of engagement with the government on its new mining code.  

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... 

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... 

DP World may develop $1.2bn port at Banana on Congo coast

By: Bloomberg     2nd March 2018 DP World may develop a $1.2-billion deep-water port in the Democratic Republic of Congo, according to documents published by a Senegalese whistle-blowing organization. DP World signed an agreement with the Transport Ministry in February 2017 giving the Nasdaq Dubai-listed company exclusive rights... 

Glencore, Randgold form group to challenge Congo law changes

By: Bloomberg     19th February 2018 Glencore and Randgold Resources are among major mining companies in the Democratic Republic of Congo clubbing together in a bid to stop sweeping legal reforms, claiming their interests were poorly served by the existing industry body. In a letter sent to Congolese President Joseph Kabila on... 

Congo mining code passes Senate without opposition

By: Reuters     25th January 2018 Democratic Republic of Congo's new proposed mining code, which the industry has warned will stifle investment in the copper and cobalt-rich nation, sailed through the Senate without opposition late on Wednesday. A version passed by the National Assembly - Congo's lower house of parliament - last... 

Congo may more than double tax on critical global cobalt supply

By: Bloomberg     10th January 2018 The Democratic Republic of Congo is preparing to more than double a tax on two-thirds of global cobalt supply, potentially increasing the cost of the critical battery metal just as the world begins to embrace electric vehicles. Congo, the world’s biggest cobalt producer, will increase the royalty... 

Dispute at Congo cobalt mine heads to court, halts metal supply

By: Bloomberg     27th November 2017 An attempt by Congo’s Gecamines to profit from the boom in battery metals has backfired, leaving the state-owned miner facing two international court actions and halting cobalt production at a key mine. Gecamines blocked its 16-year partner GTL’s access to the cobalt site in the southeastern... 

Congo halts Sicomines' copper exports, orders local refining

By: Bloomberg     9th October 2017 The Democratic Republic of Congo ordered Sinohydro Corp. and China Railway Construction Corp.’s local mining venture to stop exporting unprocessed copper and cobalt and refine all its metals within the country. Sicomines must ship “only high-value products” as the government looks to “ensure the... 

African body urges Congo to prosecute Anvil over mine deaths

By: Bloomberg     15th August 2017 The African Union’s human rights body urged the Democratic Republic of Congo’s government to prosecute officials of an Australian mining company over their alleged role in a military crackdown in 2004 that left more than 70 people dead. The African Commission on Human and People’s Rights also... 

UN experts accuse Congo army General of mining gold illegally

By: Bloomberg     14th August 2017 A group of United Nations experts said it’s gathered evidence that a sanctioned Congolese military officer owns gold mining operations in the northeast of the country, contravening the country’s mining code. Tax officials, mine workers and dredge owners told the Group of Experts on the Democratic... 

DBSA committed to funding infrastructure projects throughout SADC

By: Anine Kilian     1st August 2017 With low levels of electrification hindering economic growth and development in sub-Saharan Africa – where 78% of the population is reliant on biomass as their main energy source – $57-trillion will be required until 2030 to fund the continent’s infrastructure and energy projects, according to... 

Ivanhoe's Congo success follows deals with President's brother

By: Bloomberg     18th July 2017 In the two decades since billionaire mining investor Robert Friedland founded Ivanhoe Mines, his small team has made some of the biggest mineral discoveries in the world. In the Democratic Republic of Congo, it has done so while trading and contracting with companies controlled by one of... 

Miners ask Congo to adjust tax repayments for franc slump

By: Bloomberg     19th May 2017 Mining companies in the Democratic Republic of Congo asked the government to adjust pending value-added tax repayments for a slump in the franc that could cost them as much as $210-million collectively. Federation des Entreprises du Congo, the country’s largest business lobby group, sent the... 

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... 

Congo nears Eskom power-supply contract to boost copper output

By: Bloomberg     24th April 2017 The Democratic Republic of Congo (DRC) signed a provisional agreement to import power from South Africa that could boost copper production this year by as much as 20%, according to the country’s chamber of mines. State-owned power company SNEL proposed importing 200 MW from South African utility... 

Congo sees Trump roll-back of Dodd-Frank stoking insecurity

By: Bloomberg     20th March 2017 The Democratic Republic of Congo (DRC) warned that proposals by the Trump administration to roll back laws on so-called conflict minerals from central Africa risks stoking violence by armed groups in the region. The suspension of Section 1502 of the Dodd-Frank Act “in the long run, will... 

Glencore paid Gertler's firm $100m Congo royalties

By: Bloomberg     3rd March 2017 Glencore paid more than $100-million previously owed to the Democratic Republic of Congo’s state mining business to a company controlled by billionaire investor Dan Gertler, according to advocacy group Global Witness. It’s the first time the value of the payments made to Gertler have been made... 

Congo said to get $100-million to clear China Moly purchase

By: Bloomberg     22nd February 2017 The Democratic Republic of Congo’s state mining company received $100-million as part of a settlement to drop its objections to the sale of the country’s biggest copper mine to Chinese buyers, according to people with knowledge of the agreement. The cash payment was made last month after... 

DRC drops objection to $3.8bn Freeport, Lundin sales

By: Bloomberg     18th January 2017 The Congolese government has dropped objections to Freeport-McMoRan and Lundin Mining’s $3.8-billion combined sales of one of the country’s biggest mines to Chinese companies, bringing an end to an eight-month dispute. Minister of Mines Martin Kabwelulu said by text messages that he had written... 

Congo awards payments from Glencore mine to Kabila’s friend

By: Bloomberg     15th November 2016 The Democratic Republic of Congo’s State-owned copper producer signed over millions of dollars in future payments to an offshore company owned by billionaire Dan Gertler, according to advocacy group Global Witness. Congo’s Gecamines, which holds a 25% stake in the Kamoto project of Katanga Mining... 

First
Prev
1
2 Next Last

Latest News

more

Latest Videos

more

About

Mining Weekly is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Engineering News
Research Channel Africa
Polity

Read more

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on MiningWeekly.com is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options
Free daily email newsletter Register Now
Close