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.
DRC Mining News
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.
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.
Labour action has brought gold production to a halt.
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.
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.
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.
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.
Conamix’s technology is intended to reduce the cost of batteries used for electric vehicles and grid storage.
The 35-member union includes China Molybdenum Co.-controlled Tenke Fungurume Mining and MMG Ltd., as well as subsidiaries of China Nonferrous Metal Mining Group and Huayou Cobalt Co. Sicomines, among others.
The plant would form part of a larger Grand Inga hydropower complex spanning the Congo River.
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.
CITIC Metal will own 20% of the Canadian miner, which makes its biggest shareholder.
Code sets Congo on collision course with mining firms.
Congolese-American businessman and convicted fraudster Charles Brown claims he's owed $1 billion in compensation for a 19% stake he previously held in Mutanda Mining, and which Glencore allegedly sold in two fraudulent transactions, in 2007 and 2012.
Congo's prime minister wants to immediately implement the new mining code without any concessions to industry demands that key provisions be amended.
Top supplier of battery raw material ups output 34% year on year.
Regulations to implement the new code are due to be signed into law next week.