Congo Mining News

Ivanhoe Mines secures full financing for first two mines in Congo

Ivanhoe can now finance Kakula and Kipushi mine to commercial production, and significantly advance, or achieve, production at the company’s Platreef Project in South Africa.

Ivanhoe to fast-track DRC mine into production after CITIC invests $454m

This second major cash injection brings the Chinese miner's total investment in Ivanhoe to $1 billion, which gives the Canadian company the equity cushion required to build its massive Kamoa-Kakula copper mine.

De Beers expands pilot scheme in Sierra Leone to sell ethically sourced diamonds

Decision was made to give more artisanal and small-scale miners (ASM) the opportunity to benefit from the program, which helps them trace route of their diamonds throughout the supply chain.

LME gets tougher on companies with ties to child labour, corruption

The initiative could see it ban or delist brands that can’t prove they are responsibly sourced by 2022.

A million tonnes of copper is on the way: it may not be enough

Giant mines currently under construction will churn out an additional one million tonnes of copper through 2023, but that won’t be enough.

MMG joins Glencore, ERG reviewing Congo plans after tax hike

Congo collected $1.57 billion of revenue from mining companies last year, almost double the previous year, mostly in profit tax and royalties.

Barrick upbeat about new DRC president’s stance on mining, investment

The company said Felix Tshisekedi had confirmed his intention of working with miners to keep growing the Central African nation’s gold sector.

ENRC sues U.K. fraud cops as corruption charges loom

The lawsuit is the latest escalation of a public battle between ENRC and the white-collar crime prosecutors that has been in and out of the courts since at least 2014.

More than a third of gold mines in Congo exposed to Ebola — report

In its current form, the epidemic won’t impact the nation’s cobalt production, as the vast distance from the Katanga region largely prevents its spread, says global risk consultancy Verisk Maplecroft.

Amnesty accuses electric vehicles makers of using unethically sourced minerals

The problem, says Amnesty, is that no country legally requires companies to publicly report on their cobalt supply chains.

Tin's bright electric future poses supply problem

Research by the Massachusetts Institute of Technology (MIT) projected that tin could be the metal with the most to gain.

Congo and Zambia win fight with copper miners — but at a cost

The current supply turbulence, however, promises more volatility ahead for cobalt as well as copper.

Acid truck spill kills 20 near Glencore Congo mine

The accident occurred about 50 kilometres (31 miles) from the copper and cobalt mine in the southeast of the country.

Glencore plans new buyback as trading profit disappoints

“They have so much cash they don’t know what to do with it. We’re glad that they are giving it back.”

ERG will suspend copper, cobalt output at Congo mine this month

Operations are being suspended while a feasibility study is conducted on building two processing facilities to treat ores at the site.

Glencore to cut output, jobs at copper, cobalt mine in Congo – WSJ

The output cut is likely to be temporary as the company looks for new ways to mine copper, the report said.

Friedland confident Congo copper mine will be world’s second-largest

The founder of Ivanhoe Mines said the Kamoa-Kakula project is “on track to become one of the absolute greatest copper mining complexes in the world.”

Glencore keeps 2019 guidance after copper, cobalt output jumps

Production of cobalt, used in batteries for EV's, reached 42,200 tonnes in 2018 while copper hit 1.453 million tonnes.

Glencore tightens grip on Congo mining unit as scrutiny sharpens

Glencore tightened its grip by appointing new executives and entering a management services contract to run its troubled Congo copper and cobalt unit.

China Moly ups stake in giant Tenke copper mine to 80%

Company has agreed to buy BHR Newwood DRC Holdings Ltd, a holding company set up by private equity firm BHR to buy a 24% stake in the Congo mine in 2017.

Ford to lead blockchain pilot that traces cobalt mined in Congo

The carmaker will use a blockchain-based platform to trace supplies of cobalt from a Chinese-owned mine in the Congo for the batteries in its electric cars, in an effort to ensure they are not linked to human rights abuses.

Congo election results delayed past Sunday deadline

Government has delayed the release of provisional results from last week’s presidential election as criticism of the country’s handling of the vote grew.

Investment in cobalt is fraught with problems and is unlikely to bring about long-term dividends

Global demand for cobalt is rocketing, with the rate of annual increase now at 8-10%.

The mining world watches as Congo counts votes for next leader

The Democratic Republic of Congo is in uncharted waters as the nation awaits election results marking the end of President Joseph Kabila’s rule.

Congo slashes cobalt output estimate for Jan-Sept 2018

The revision means that output of cobalt rose 35.9 percent compared to the same period in 2017, rather than 92.5 percent as the bank said previously.