Glencore’s Penchant for Murky Business Could Unravel in DR-Congo

  Glencore’s Congo Mining Conundrum Miner and commodities trader Glencore is embroiled in a legal tangle over its copper and cobalt operations in Democratic Republic of Congo, where conflict and changes to regulations have deterred many mining firms. US sanctions on Glencore‘s former Israeli partner in Congo have been a trigger for litigation. At the same time, relations with the Congolese authorities are under strain from a dispute…

Why Is Venkat Dumping AngloGold to Take Top Job at Vedanta Resources?

Why Is Venkat Dumping AngloGold to Take Top Job at Vedanta Resources? Srinivasan Venkatakrishan (Venkat) will step down as CEO of gold miner AngloGold Ashanti on August 31 to take up the CEO position at diversified miner Vedanta Resources. AngloGold on Monday said it has started a global search, considering both internal and external applicants, for a successor, who will be…

Congo Must Rewrite Mining Code to Protect Exemptions–Miners

Congo Must Rewrite Mining Code to Protect Exemptions–Miners International mining companies have insisted that Democratic Republic of Congo amend portions of a new mining code to respect exemptions they were granted by its predecessor. The companies announced last week that they had submitted a formal proposal to the government but the document itself, seen exclusively by Reuters on Thursday, takes a…

Will Randgold Survive Its Multi-Front African Mining Travails?

Will Randgold Survive Its Multi-Front African Mining Travails?  Randgold Resources’s celebrated ability to operate in Africa is being tested on all fronts, and it’s taking a toll on the London-listed gold miner’s stock. For most of the last decade, Randgold shares were the best performers among gold miners tracked by Bloomberg. Now they are among the worst in the industry, sinking 20%…

Post-Mugabe Zimbabwe Mining: Juniors Rush In; Majors Still Skeptical

Post-Mugabe Zimbabwe Mining: Juniors Rush In; Majors Still Skeptical  While Zimbabwe’s leadership change has sparked a race for the nation’s mineral riches among entrepreneurs and tiny explorers, big-name mining companies are taking a wait-and-see approach. New President Emmerson Mnangagwa has a lot to prove as he seeks to revive the economy and attract mining investment that shriveled under his predecessor, Robert Mugabe.…

DR-Congo New Mining Tax “Untouchable”, Minister Tells Mining Companies

DR-Congo New Mining Tax “Untouchable”, Minister Tells Mining Companies Democratic Republic of Congo‘s mines minister rejected a proposal by mining companies on Friday to retain exemptions and scrap some taxes in exchange for higher royalties than those in a new mining code, calling the taxes “untouchable”. Mines Minister Martin Kabwelulu was reacting to a proposal from mining companies under which the companies would…