DRC Mining News

Electric cars market threatened by potential cobalt tax hike in Congo

The nation, responsible for about two thirds of global output, plans to increase tax on cobalt to 5% from 2%.

Congo’s Gécamines urges Gov’t to revise 16-year-old mining code

The World Bank-supported mining legislation was introduced to attract investment into copper and cobalt projects from global miners including Glencore Plc, Freeport-McMoRan Inc. and China Molybdenum Co. Gécamines claims country has not benefited from it.

Ivanhoe Mines and Zijin virtually triple hydroelectric output to support the Kamoa-Kakula Copper Project

Fresh Kakula resource estimate being prepared based on drilling completed to the end of December 2017.

BMW throws fuel on cobalt price fire: 'we'll need 10x as much'

“We’ve been intensively focusing on how to manage future cobalt supply for a year now. Before, it wasn’t clear just how quickly demand will accelerate.”

De Beers steps up efforts to remove ‘conflict diamonds’ from the market

Diamond giant is investing in an open platform that will allow tracing a rock throughout the entire value chain — from mine to buyer.

LME launches probe on cobalt suppliers over fears of child exploitation

The LME has sent a directive to all suppliers asking them to detail how they guarantee “responsible sourcing” of the commodities they trade in the exchange.

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.