DRC Mining News

Lundin's agonizing Congo decision

Toronto miner has first dibs on controlling share of Tenke Fungurume which if contemplated expansion goes ahead would catapult mine into global top 5.

Lundin granted second extension on bid for Freeport Congo mine stake

The company now has until Sept. 29 to bid on Freeport-McMoRan Inc's stake in the Tenke Fungurume copper and cobalt mine.

Despite problems SA still represents half sub-Sahara mining

Value of South Africa's mining industry forecast to contract 11.4% in 2016, followed by years of close to zero growth according to new report.

Freeport's $2.7B sale of African copper mine hits snag

Congo's state-owned mining company launches own bid for giant Tenke copper operation despite Freeport's stake sale to Chinese firm signed in May.

Canada's Ivanhoe Mines to hire strategic adviser after unsolicited interest

Shares in the Vancouver-based miner soared Monday as the firm said it would likely hire an investment bank to advise the board on all strategic options.

Glencore posts worst half-yearly profit since listing in London

Despite a rebound in commodity prices and successful costs cuts, Glencore remained in the red in the six months to end-June.

Ivanhoe Mines’ DRC project likely Africa's top copper discovery shows fresh drilling results

Shares in the Canadian company were up more than 3.6% Thursday morning on the news.

China snaps up $4.5bn worth of overseas mining assets in just six months

Most of them have been after existing operations and companies, rather than trying to build mines from scratch.

Fresh wave of Chinese firms to go after Congo’s riches — report

Faced with declining domestic production, China's top copper company — Minmetals — said earlier this year that the "only solution” was going overseas, and many are following its steps.

Kibali continues to work through challenges as it heads for full production

Speaking at a regular briefing, Bristow said that, as anticipated, the complexity of dealing with multiple ore types from different sources had affected throughput, recovery and grade in the first half of the year.

Illegal gold trade in Congo still benefiting armed groups, foreign companies

Illegally acquired and exported gold from the mineral-rich eastern Congo keeps filling the pockets of some foreign companies as well as armed groups, a new report shows.

Global gold output to remain weak despite price recovery

BMI Research analysts also believe gold prices bottomed in 2015 and expect the metal to edge higher over the coming quarters.

Freeport sells prized African copper mine

Tenke Fungurume in the DRC goes for $2.65 billion to China Molybdenum – Freeport also offloading Africa exploration project and cobalt refinery in Europe.

Chile's cheerless outlook for copper price

Top global producer sees surplus this year and next as mines pump out more metal and predicts decline in copper price from today's levels through 2017.

Top 10 copper producing countries

Peru's output surges, North American producers slip down the rankings and Chinese mines shut down.

Illegal mining in Congo wiping out gorilla populations

Fewer than 3,800 Grauer gorillas still live in the wild, down from 17,000 in 1998 due mainly to illegal mining for coltan and other minerals, a report shows.

Randgold replenishes resources in record production year

Randgold Resources’ annual resource and reserve declaration, shows attributable measured and indicated resources steady at 21.1 million ounces while inferred resources are marginally up to 6.7 million ounces.

Glencore says all seven workers dead after Katanga mine accident in Congo

The company had suspended operations last year, but work on maintenance and an $880 million modernization project to cut costs at the site was ongoing.

Death toll at Glencore's Katanga mine in Congo climbs to 3

The casualties were carrying out maintenance at the bottom of the 250-metre pit.

Congo government urged to pass new mining code

Group of 42 Congolese non-governmental organizations (NGOs) say difficult market conditions do not justify further delays.

Landslide at Glencore Katanga mine in DRC leaves 2 dead, 5 missing

Causes of the wall collapse at the open pit KOV mine are still unclear.

At least 1,300 jobs to go as ENRC steps up cost-cutting measures in Congo

The layoffs may increase to 1,800 if the metal prices don’t recover soon, said the company.

Randgold raises dividend despite profit slump

The firm also said it would continue to invest in exploration, which remains the engine that drives its business.

Randgold's Tongon mine to build on benefits of capital projects

Randgold Resources chief executive Mark Bristow said the mine’s expansion and upgrade projects had now been completed.

Booming Kibali boosts exploration investment in DRC

Randgold Resources has expanded its operations in Congo following the success of the Kibali gold mine, which will lead to the miner exceeding its full year production guidance for the mine in 2015.