DRC Mining News

Canada’s First Cobalt buys US explorer, creates key supplier outside Congo

The blended company will have projects in Ontario and Idaho which, once in operations, could be major cobalt suppliers for EVs makers and high tech firms.

Cobalt consumers main victims of Congo’s new mining code — analysts

A new mining code in the cobalt-rich Congo will lead to higher costs for consumers of the battery metal at a time automakers are expanding production of electric vehicles, experts say.

Congo's Kabila to sign new mining code soon after meeting with miners

The announcement followed a nearly six-hour meeting on Wednesday between Kabila and mining executives in Kinshasa about the new code, which will raise taxes and remove a stability clause.

Kazakh miner ERG revives sale of Congo copper mine

ERG revives efforts to sell its Frontier copper mine in the DRC despite a drop in valuation to about $400 million, two banking sources said.

Freeport says no plans to sell Congo cobalt asset as buyers circle

Freeport is looking at other options for the asset, including possibly a joint venture to develop the large cobalt project.

Glencore gives investors $2.9bn in dividends after ‘strongest’ results ever

The Swiss miner and commodities trader Glencore said its solid finances will let it to pursue more acquisitions if opportunities arise.

INFOGRAPHIC: The true costs of artisanal mining

Artisanal and Small-Scale Mining (ASM) has become a major of revenue for millions of people in about 80 countries worldwide, with more than 100 million people currently depending on the activity for their livelihoods. But at what costs?

Ivanhoe boss said he’d pay higher taxes in Congo if it benefits locals

Robert Friedland, founder and executive chairman of Ivanhoe Mines, said he would be happy to pay higher taxes if there is stability in Congo's rules and transparency in the accounting of those royalties.

Congo’s Gecamines to rework contracts with foreign partners

Some of the company’s international mining partners include major names such as Glencore, China Molybdenum and Ivanhoe.

Randgold doubles dividend as CEO charges against DRC mining code

Randgold boosted divvy to $2 a share, after a year of record production and soaring profits, but warned the good times may be over soon as it’s now facing demanding new regulations in Congo, one of its key jurisdictions.

Randgold calls Congo’s new mining code “draconian”

Mark Bristow says the law will “severely limit the growth of the mining industry in the DRC as well as the country's own economic prospects.”

Congo just gave the cobalt price another big boost

DRC stuns miners with immediate lifting of 10-year exemption for licensees, 50% tax on 'super-profits' and code permitting 5-fold increase in cobalt royalty.

Congo shocker fells Ivanhoe Mines stock

Vancouver-based company headed by billionaire mining financier Robert Friedland loses 11% of its value after DRC stuns with new mining code.

Congo mining code passes Senate without opposition

DRC's proposed mining code, which industry has warned will stifle investment in the copper and cobalt-rich nation, sailed through Senate without opposition.

Randgold’s Kibali mine in DRC to achieve full production this year

Mine is on track to produce its target of 700,000 ounces of gold in 2018.

De Beers readies technology aimed at eliminating ‘conflict diamonds’

Firm is developing open platform that traces diamonds from mine to buyer.

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.