The DRC has a stranglehold on crucial battery material cobalt, but central African nation also has potential to become major lithium player.
DRC Mining News
The state miner is moving to increase its take from joint ventures with international miners such as Glencore and China Molybdenum, which it accuses of not bringing enough money to the country.
Glencore’s coal business should be a license to print money for several more years.
Congo is Africa's top copper producer and mines more than 60 percent of the world's cobalt
Production sharing agreements align the interests of the two partners because the risk now weighs more on the investor than on Gecamines.
Company veteran and coal chief Peter Freyberg, has been appointed as the head of industrial mining assets, a newly created role.
Barrick Gold is interested in buying more copper mines in the Democratic Republic of Congo (DRC) - Incoming COO of Africa and the Middle East region
“They are taking unilateral decisions that we haven’t verified, that we haven’t certified” - Gecamines President, Albert Yuma
Exploration drilling at the Kamoa North prospect area, which forms part of the company's Kamoa-Kakula mining licence, has defined two new, continuous corridors of shallow and high-grade copper mineralization.
Glencore's suspension of Congo exports shows how cobalt production expansion plans can go awry.
The temporary suspension comes as Katanga found excessive levels of uranium in the mine's ore.
Experts believe the US firm could achieve $300 million in operating and cost savings from combining its mines in Nevada with those of the Canadian rival.
Alrosa has joined rival De Beers' Tracr industry blockchain traceability platform, aimed at clearing the supply chain of imposters and conflict diamonds.
The combined miner plans to focus on Tier 1 assets, those producing at least 500,000 ounces of gold annually, with a mine life of more than 10 years and low costs.
He is said to have already begun training three to four people to succeed him in the job.
The government says that diamonds worth more than $1 million had been seized in the course of Operation Transparency.
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.
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.
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.
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
The Mining Promotion Initiative's main goal is to engage the government on industry concerns about the country’s new mining code.
The turnaround in performance was mainly the product of increased output, reduced net debt and lower-than-expected restructuring costs.
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 is the world’s No. 1 cobalt miner, while Congo is the largest producer of the key component for batteries that power electric vehicles.
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.