Cobalt, Critical to EVs and Renewable Energy Tech, Now ‘Strategic Mineral’ in DRC

Cobalt, Critical to EVs and Renewable Energy Tech, Now ‘Strategic Mineral’ in DRC Democratic Republic of Congo will declare cobalt and coltan, used in electric vehicle and renewable energy technology, as “strategic” minerals which will earn the country higher royalties, an adviser to the Prime Minister said on Wednesday. A new mining code was signed into law on Friday…

Mining Companies Already Feeling the Pinch of New Congolese Mining Code 

Mining Companies Already Feeling the Pinch of New Congolese Mining Code Beyond raising costs for domestic miners, a new mining code signed into law by Congolese President Joseph Kabila last week, poses downside risks to the investment outlook of the country’s mining industry over the coming years, as a result of heightened government intervention and regulatory uncertainty, research firm BMI said on…

Ghana’s Biggest Mine Union Threatens Strikes Over Gold Fields Plc Jobs Cuts

  Ghana’s Biggest Mine Union Threatens Strikes Over Gold Fields Plc Jobs Cuts  Ghana’s largest mineworkers’ union plans protests and strikes throughout operations in the country if the government allows Gold Fields Ltd.’s local unit to dismiss more than 2,000 staff as it starts the process of hiring a contractor to operate its biggest mine in the West African nation. Gold Fields…

BREAKING!!! Congo’s New Mining Code Becomes Law as Kabila Shows His Balls to Mining Companies

BREAKING!!! Congo’s New Mining Code Becomes Law as Kabila Shows His Balls to Mining Companies  Reuters reports that Democratic Republic of Congo President Joseph Kabila has just signed into law on Friday a new mining code that raises royalties and taxes on operators, the presidency said in a statement. International mining companies that operate in…

African Mining Still Wracked by Trust Deficit Between Miners and Host-Govts/Communities

  African Mining Still Wracked by Trust Deficit Between Miners and Host-Govts/Communities The conclusion of the eighth MineAfrica panel discussion at the Prospectors and Developers Association of Canada conference on Sunday was that “endemic mistrust between private sector miners and African jurisdictions belies the spirit and objectives set out in the African Union’s African Mining Vision.” According…

Debt & Political Risks: Glencore Is Mortgaging the Future of Africa’s ‘Oil-Cursed’ Countries

Congo Republic is set to become the latest African country to start debt relief talks with trading houses after borrowing $2-billion from merchants such as Trafigura and Glencore but now finding its debt levels unsustainable, sources familiar with the matter said. Trading houses regularly lend money to resource-rich clients in financial distress – be it countries such as Congo, Chad, Morocco or Iraq‘s Kurdistan region…

World’s Biggest Miners Out of the Hole, Splash $200bn Comeback to Investors

Rio Tinto, BHP and Glencore dig up boom-era profits again, rewarding investors and looking for deals The world’s biggest mining companies are again poised to shower investors with billions of dollars and make deals, a turnaround fueled by the global economy’s renewed appetite for raw materials and by the burgeoning electric-vehicle market. Four of the…

Electric Cars and Niche Metals Reviving Enthusiasm and Luring Cash Back to African Mines

Rising commodity prices may have revived enthusiasm for African resources, but it’s unlikely to be the old mainstays of coal and iron-ore pulling crowds next week as the mining industry meets in Cape Town. The electric-vehicle boom and shifting industrial demand have transformed formerly niche metals – from lithium and cobalt to praseodymium and neodymium – into the hot new drawcards of African mining.…

Zambia: Corruption, Creeping Authoritarianism and a Foreign Minister’s Resignation

Zambia’s foreign minister has announced his resignation in a scathing Facebook post, denouncing the country’s “path of insatiable greed and shame”. Henry Kalaba said his decision was prompted by the “swelling” levels of corruption “perpetrated by those who are expected to be the solution”. Analysts suspect the move is an attempt to pressure President Edgar…