DRC Mining News

Congo state miner failed to log $740 million in revenues, report says

Gecamines copper output has plunged since 1980s and it has failed to internally register $740 million in income between 2011-2014, much of which is now untraceable, the Carter Center said in a report on Friday.

Lower Q3 and Mali tax row take the glow off Randgold

Miner said full-year profit and output was on track despite a third-quarter dip, but its shares slid to a three-month low after its CEO did not rule out seeking arbitration over a tax dispute in Mali.

Banro halts gold mine in Congo as access road blocked

The Canadian miner said measure was taken after violent groups blocked main road to the mine, which has prevented essentials from reaching the operation.

Friedland confident Congo copper project will be bigger than Grasberg

Ivanhoe boss transforms what could have been a set of exciting drill results into 43 holes of “global significance in the copper world”.

With Congo finances collapsing, desperate government has few options

Democratic Republic of Congo's government seeks to head off a collapse in national finances that is hitting the economy.

Congo reinstates miners' VAT exemption on imports in U-turn

The government owes mining companies about $700 million in VAT reimbursements from before last year's suspension.

NGO brings out legal gold from the Congo

Partnership Africa Canada says the gold was one of the first legal gold purchases from the DRC.

Two injured in electrical fire at Congo's Tenke copper mine

Two employees at the Tenke copper mine in Democratic Republic of Congo suffered minor injuries in an electrical fire at the weekend.

Congo revamps Inga hydro project in bid to make it economical

Democratic Republic of Congo has decided to more than double the size of its planned Inga 3 hydroelectric plant to make it more economical, after the $14 billion project was hit by financing problems.

Banro resumes operations at Namoya after militia violence prompted halt

While the kidnapped drivers have been released it’s still uncertain where they are and what happened to their trucks.

Congo requests financial support from donors amid economic crisis

Democratic Republic of Congo's government has formally requested financial support from international donors as it confronts a worsening economic crisis, a letter seen by Reuters on Thursday showed.

Banro halts gold mine in Congo due to violence, shares collapse

The company also evacuated all of its employees at Namoya mine after trucks belonging to a contractor were caught in crossfire between soldiers and a local self-defence militia.

Randgold schedules Massawa project for feasibility finalization

Company will make final decision on its development by mid next year.

Pala completes investment in Cobalt 27

Pala Investments Limited, a multi-strategy investment company focused on the mining and metals value chain, is pleased to announce the closing of its investment in Cobalt 27 Capital Corp. in connection with Cobalt 27's public offering of 22,222,225 common shares in the capital of Cobalt 27 on June 23, 2017.

Cobalt 27 aims to tap electric car revolution with $150m IPO

Minerals company Cobalt 27 Capital Corp made its debut on Canada's Venture Exchange on Friday, raising C$200 million in a listing that offers investors exposure to cobalt, a key metal for batteries in electric cars.

Hostages kidnapped from DRC gold mine released

A kidnapping incident at one of Banro's gold mines in the Democratic Republic of the Congo (DRC) has been resolved.

China’s Zijin pays off stake in Ivanhoe’s Congo copper project

Ivanhoe Mines and Zijin each hold now an indirect 39.6% interest in the Kamoa-Kakula project, thought to be Africa's most significant deposit of the red metal ever found.

Congo to re-evaluate new mining code next week

Move comes 15 months after the country’s government halted the planned revision amid opposition from mining companies and low commodity prices.

UN troops to tackle violence at Central African Republic diamond mining hub

Only last year CAR was allowed to resume diamond exports after a three-year ban that tried preventing armed groups from financing a bloody inter-religious conflict.

Loulo-Gounkoto sets sights on another big year as Morila legacy project takes shape

The Morila operation continues to deliver value in its post-mining phase while progressing plans to develop the site into a commercial agricultural hub after its closure in 2019, Randgold Resources chief executive Mark Bristow said at an on-site media briefing today.

Randgold's Kibali mine heads for full production

The Kibali gold mine’s underground operation, which will significantly increase production, is on track to start commissioning in the third quarter of this year, Randgold Resources chief executive Mark Bristow said at a media briefing here today.

‘Conflict minerals’ entering tech supply chains from countries beyond Africa — report

Tungsten, tin, tantalum and gold are now also being illegally extracted and traded at sites under the control of armed groups in countries including Myanmar and Colombia.

EU toughens up rules on imports of conflict minerals

The new law, which will come into force in 2021, requires importers to ensure their business do not contribute to armed conflicts.

US Lithium to mine for copper, nickel, cobalt in Canada’s Saskatchewan

The Gochagar Lake project, until now property of Diamond Hunter, consists of four claims covering 3,759 hectares located in northern Saskatchewan.

Glencore’s profit soars on commodities rebound

A surge in commodity prices combined with its multibillion-dollar asset fire-sale has put the company in a position to pay big dividends and explore acquisitions.