Congo Mining News

Congo miners seek concessions in new code as arbitration on hold

They hope they can still wring out a compromise in the world’s main source of cobalt and Africa’s biggest copper producer.

Congo miners buying cobalt from artisanal operators to balance market

Experts say that, when done correctly, artisanal mining can be an ethical source of low-cost, high-grade cobalt and a key mechanism in keeping the market balanced during times of supply shortage.

Ivanhoe Mines soars on third major copper discovery in Congo

The find, named Makoko, was the first of multiple high-potential target areas identified by the company’s exploration team to be tested by drilling.

Congo-owned Sokimo may hinder transfer of Kibali mine to Barrick

The state miner warned it would "assert its rights" in Barrick Gold's acquisition of Rangold's stake in the Kibali mine, but did not provide details of its plans.

Barrick to buy Randgold for $18.3B forming giant global gold miner

The new Barrick, which will be listed in New York and Toronto, will own five of the world's 10 lowest cost gold mines and will be the world's top bullion producer by both value and output.

Congo expects declaration on strategic metals by end of October

Companies including Glencore, China Moly and Randgold Resources Ltd. have criticized the new laws as violating their rights, as well as being a deterrent to future investment, and are continuing to lobby for it to be significantly modified.

Glencore, China Moly face higher cobalt royalty taxes in Congo

The Democratic Republic of Congo will declare cobalt a strategic metal, imposing a 10 percent royalty tax on producers.

Congo mines minister sees strategic metals decision 'very soon'

Congo’s updated mining code established the category of “strategic” minerals, to which a rate of 10 percent will apply.

Congo mines minister insists no compromise on new mining code

Democratic Republic of Congo's mines minister said that a new mining code signed into law that hikes royalties and taxes cannot be called into question.

Congo plans to build special economic zone for cobalt users

The area will allow producers of electric vehicles, smartphones and other goods to “install themselves in the DRC".

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

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.

China's CITIC to be Ivanhoe Mine’s top shareholder in $548m-deal

Transaction, which gives CITIC a 20% stake in the Canadian miner, has received all necessary approvals and it’s expected to close on Sep. 19

Biggest Congo coltan miner resumes buying after output halt

Societe Miniere de Bisunzu Sarl resumed purchases of the ore after a three-month shutdown at one of the country’s largest deposits.

DRC miners form new body to fight mining code

The Mining Promotion Initiative's main goal is to engage the government on industry concerns about the country’s new mining code.

AngloGold swings back to profit days before new boss takes helm

The turnaround in performance was mainly the product of increased output, reduced net debt and lower-than-expected restructuring costs.

Auto industry’s use of lithium-ion batteries to grow seven-fold by 2025

The need to store electricity, generated by renewable energy sources such as wind and solar, will also help demand to grow, the Metal Bulletin says.

Glencore’s cobalt output up by almost a third thanks to Congo mines

Glencore is the world’s No. 1 cobalt miner, while Congo is the largest producer of the key component for batteries that power electric vehicles.

Randgold to revise full-year forecast as readies Tongon mine for restart

As a result of the latest stoppage at the Ivory Coast mine and the time it will take to bring it back on line and at full tilt, Randgold will have to review its 290,000-ounce gold output forecast for the year.

Kibali gold mine aims at record output after underground ramp-up

DRC's Kibali is moving from underground mining by contractors to owner-mining, as has already happened at the company’s Loulo mines in Mali.

Randgold’s Tongon mine in Ivory Coast hit by strike

Labour action has brought gold production to a halt.

Glencore shareholders mull suing firm over corruption, bribery probes

They claim mounting investigations into the firm’s dealings in the DRC, where it’s heavily invested, has made the stock collapse and investors may seek compensation for the losses caused by it.

US probe darkens Glencore horizons from Africa to Americas

Investigation is casting a wider net with the addition of Venezuela and Nigeria to its investigation, increasing the likelihood that Glencore’s management will get bogged down in a lengthy legal process.

LME to get tougher on cobalt companies with ties to the DRC

Starting next year, it will demand firms that get at least 25% of their metal from small-scale mines in the DRC to be subject of a professional audit.

Glencore hammered as US requests documents in corruption probe

Shares fell as much as 13% after the miner and commodities trader was told by US Department of Justice to produce documents on Nigeria, Congo and Venezuela.

Congo court suspends hearing on Glencore-owned cobalt mine

Until last month, Glencore was fighting three lawsuits in Congo that called into question its control of its prized copper and cobalt mines.