Democratic Republic of Congo Mining News

ERG bets on cobalt from Congo in quest for growth

Eurasian Resources Group (ERG) plans to ramp up cobalt output at its Democratic Republic of Congo (DRC) facility as it expects the electric car industry to boost demand for the metal.

Congo copper output seen up 12% to 1.2 million tonnes

Copper production in Democratic Republic of Congo, Africa's top producer, is expected to rise.

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.

New AngloGold boss weighs asset sales to unlock value at miner

AngloGold Ashanti Ltd.’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.

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 will declare cobalt and other minerals as "strategic" in coming days – mines minister

The government considers minerals with the "strategic" designation important for the economic, social and industrial future of the country.

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

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.

The battery boom could end up burning some investors

Some of the latest battery technologies may become obsolete before reaching the market because of the breakneck pace of advances in the industry.

Randgold not yet paying new higher Congo tax and royalties – executives

Randgold Resources is not yet paying the higher royalties and taxes required by the Democratic Republic of Congo's new mining code as the gold miner is still negotiating with the government.

Sole supplier puts cobalt (and EV) market at risk: IEA

For the International Energy Agency, having the Democratic Republic of Congo as the supplier of almost 60 per cent of the global production of cobalt is a risky business.

Congo leader mulls possible successors in private meetings

Democratic Republic of Congo President Joseph Kabila is meeting members of his ruling coalition to discuss who will be its candidate in presidential elections this year.

Battery chemical surplus sparks plunge in cobalt price

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.

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.

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.

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

Junior miners exploring for cobalt in the DRC reckon increased prices and the country’s high-grade deposits will offset the added costs of new legislation larger companies have opposed.

Battery startup gets funding to develop cobalt-free products

Conamix’s technology is intended to reduce the cost of batteries used for electric vehicles and grid storage.

Congo's miners face harsh new reality as mining law finalized

After six months of lobbying, companies including Glencore and Randgold Resources have got nowhere in their battle to push back against a new mining law that voids existing agreements and increases their costs.

China's CITIC grabs stake in Ivanhoe Mines for $560 million

CITIC Metal will own 20% of the Canadian miner, which makes its biggest shareholder.

Congo mining code regulations signed into law – aides

Code sets Congo on collision course with mining firms.

Congo mining regulations to be signed into law on Friday — mines minister

Congo's prime minister wants to immediately implement the new mining code without any concessions to industry demands that key provisions be amended.

Congo court rejects Glencore bid to move copper dissolution case

The decision is a setback for the Swiss commodity trader, which is facing multiple disputes in the central African nation.

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

The mining companies insist the government reinsert a stability clause, present in the former code.