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MINING

MINING (175)

The Democratic Republic of Congo plans to tighten controls on mining exports to boost revenue collection. In a report published in January 2026, the International Monetary Fund said authorities want a more reliable assessment of export volumes, mineral content and moisture levels, which are critical for valuation and tax calculations.

The report highlights the revenue impact of inadequate oversight. “Studies show that our country loses nearly half of its potential mining revenue due to insufficient controls on volumes and the content of valuable metals,” authorities cited in the report said. To address these weaknesses, authorities said they want to increase mining revenue collection by limiting direct contact in the control process.

One measure involves deploying technical tools by March 2026 to strengthen physical inspections of export shipments, including truck weighing scales and computerized, non-intrusive quality control systems.

The reform also includes stronger analytical capacity. The IMF said authorities aim to secure approval from the Ministry of Mines by January 2026 to bring into operation a mineral analysis laboratory contracted by the tax authority (DGI).

The goal is to build technical capacity to support inspections and strengthen compliance more broadly. The report also points to efforts to improve the assessment of export characteristics, including moisture and mineral content, which affect declared values and tax obligations.

Beyond mining, the IMF report highlights the broader challenge of modernizing financial administrations and controls. It notes that tax audits currently deliver less than 15 percent of their potential revenue, as authorities seek to improve data cross-checking through automation and digitization.

Overall, the IMF said the approach combines stronger physical and analytical controls on mining exports with a shift toward more automated systems, with the aim of improving enforcement and securing revenue.

Boaz Kabeya

Posted On vendredi, 16 janvier 2026 15:56 Written by

Australian miner AVZ Minerals said on Jan. 15, 2026 it had received the full amount of funding pledged last year by its partner Suzhou CATH Energy Technologies.

The Chinese firm provided a $20 million facility to AVZ, which says it holds rights to the Manono lithium project in Tanganyika province in the Democratic Republic of Congo.

AVZ said when the facility was announced in January 2025 that the funds would cover working capital needs and activities over the following 12 months, including costs linked to its dispute with the Congolese state over the project. The disbursement signals CATH is continuing to back AVZ.

Under the January 2025 agreement, CATH would gain several rights if AVZ succeeds in its claim to the Manono deposit. These include the option to buy 100% of the project’s lithium output for five years, or until AVZ recovers expenses financed under the deal. CATH would also have the right to acquire a 30.5% indirect stake in the project. The outcome remains uncertain.

Manono is the largest lithium deposit identified so far in the DRC. AVZ carried out exploration there for several years through a joint venture with state-owned Cominiere. Cominiere later ended the partnership and in 2023 teamed up with China’s Zijin Mining to develop the same project.

AVZ has launched multiple international legal actions to challenge the loss of its stake, but no final ruling has been issued.

A new player has also emerged: KoBold Metals. As ties between Kinshasa and Washington have warmed amid plans for new U.S. investment in the Congolese mining sector, the California-based startup signed an agreement in principle with the Congolese government last July for mineral exploration in the country.

KoBold has since obtained seven exploration licences, four of them in the Manono area.

Under the agreement in principle, KoBold is expected to help resolve the dispute between AVZ and the Congolese state. Two months earlier, KoBold and AVZ said they had reached a framework agreement under which AVZ would sell its commercial interests in Manono at what the companies described as a fair value.

AVZ, which had paused arbitration proceedings against the DRC to create what it called a “climate conducive to discussions” aimed at an amicable settlement, has since resumed the case.

Zijin Mining, which obtained an operating permit in September 2024 for the area claimed by AVZ, has said it expects to start production in 2026. It has provided few updates on the mine’s construction.

PM, with Ecofin Agency

Posted On vendredi, 16 janvier 2026 12:39 Written by

The Kipushi zinc mine in the Democratic Republic of Congo nearly quadrupled output in 2025, producing 203,168 tonnes of concentrate, up from 50,307 tonnes in 2024, Ivanhoe Mines said in its annual operating results published on Jan. 15, 2026. The mine is co-owned by Ivanhoe Mines (62%) and state miner Gécamines (38%).

The result was in line with Ivanhoe’s target of 180,000 to 240,000 tonnes.

The rise was driven by engineering work launched in September 2024 to boost throughput at the Kipushi concentrator by 20%. The optimisation programme was completed in early August 2025, helping lift output sharply in the second half of the year.

The mine delivered 57,200 tonnes in the third quarter and 61,444 tonnes in the fourth quarter, well above the 42,736 tonnes and 41,788 tonnes produced in the first and second quarters of 2025, respectively. Ivanhoe said recent output levels would rank Kipushi as the world’s fifth-largest zinc mine.

For 2026, Ivanhoe targets output of 240,000 to 290,000 tonnes. A key challenge will be maintaining stable operations, as the site faces an unreliable power supply from the Congolese grid. To mitigate the risk, the company said it expanded backup generator capacity in the fourth quarter of 2025.

Emiliano Tossou, with Ecofin Agency

Posted On vendredi, 16 janvier 2026 04:02 Written by

Democratic Republic of Congo Mining Minister Louis Watum Kabamba has unveiled details of a major iron ore project, after a pledge made at the Makutano 2025 forum last November.

He presented the project at the Council of Ministers meeting on Jan. 9. The minutes refer to the initiative as Mines de fer de la grande Orientale (Mifor), describing it as a major strategic shift in the country’s mining strategy, long dominated by copper and cobalt.

The project is based on deposits in the former Orientale province, now divided into Ituri, Haut-Uele, Bas-Uele and Tshopo. The document estimates reserves of between 15 billion and 20 billion tonnes, with an average grade above 60%. It does not say how the estimates were calculated.

According to the minister’s presentation, Mifor would be developed in several phases. The first phase targets output of 50 million tonnes a year, with capacity rising gradually to 300 million tonnes a year. The plan goes beyond extraction, including local processing units and a multimodal logistics corridor combining a heavy-haul railway, river transport and a connection to the deep-water port of Banana.

The initial investment for the first stage is estimated at $28.9 billion. Over 25 years, the minister cited cumulative revenue of $679.3 billion and net cash flow of $308.2 billion, based on conservative market assumptions. For the state, the document refers to significant and wide-ranging benefits, without providing figures.

Iron ore currently trades at around $105 a tonne. However, the start of production at Guinea’s Simandou mine, announced last November, could put downward pressure on prices in the medium term. If the project stays on schedule, Simandou could produce up to 120 million tonnes as early as 2028 and add supply to the market.

At this stage, Mifor has not yet moved into formal negotiations. Without naming specific entities, the report cites interest from international institutional investors with a track record in structuring and financing large-scale projects. The government says this is a positive sign for the project’s bankability and international credibility, while stressing that no binding commitments have been made. The financing structure, partners and implementation timeline have not been announced.

In the near term, the executive has decided to set up a dedicated governance structure. The Council of Ministers approved the creation of an expanded inter-ministerial commission to oversee strategic direction, coordination and the project’s phased development.

Boaz Kabeya

Posted On mercredi, 14 janvier 2026 16:43 Written by

State-owned enterprise DRC Gold Trading said it will continue its nationwide expansion after an annual performance review held on Jan. 9, 2025. The company plans to open a branch in Mbujimayi shortly and another in Kinshasa by the end of March 2026.

The strategy targets the establishment of 10 operational sites nationwide, with the aim of reaching annual artisanal gold volumes of 15 to 18 tonnes and generating more than $2 billion in export revenues.

DRC Gold Trading currently operates five branches, including one in Bukavu that has been inactive since AFC/M23 rebels seized the city in March 2025. Hitting the upper target of 18 tonnes will be challenging, given that the company has exported about 10 tonnes of artisanal gold since beginning operations in early 2023.

Another challenge is uncertainty over the contribution of the Bukavu branch this year. That branch alone accounted for more than 90% of legal artisanal gold exports between 2023 and 2024, with a monthly average of over 420 kg sourced from South Kivu in 2023.

The state-owned company has, however, opened a branch in Kindu, in Maniema province, partially offsetting the loss of revenue from South Kivu. With a monthly average of around 114 kg of artisanal gold exported, Maniema has become the country’s leading artisanal gold exporting province. By the end of the third quarter of 2025, it accounted for 34% of national artisanal gold exports, totaling 683.67 kg, according to data from the Mining Technical Coordination and Planning Unit.

Timothée Manoke

Posted On mercredi, 14 janvier 2026 08:20 Written by

Gécamines plans to sell part of the copper output from Tenke Fungurume Mining (TFM) to the United States through its new trading subsidiary, Gécamines Trading. TFM is 80% controlled by China’s CMOC.

The Congolese state miner said it has decided, for the first time, to exercise its contractual right to buy the share of production linked to its 20% stake in the mine and resell it to U.S. buyers. It put the volume at 100,000 tonnes for 2026.

This first marketing operation represents an expansion of the competitive bidding system for output from Gécamines’ partnerships, a system introduced in 2023 and successfully implemented since then,” Guy-Robert Lukama, chairman of Gécamines’ board, said in a statement.

Gécamines said the decision to market the production share from its joint ventures is intended to address transfer-pricing practices used by some operators. Under such practices, output is sold at below-market prices to related entities, reducing dividends paid to Gécamines and mining revenues for the state.

The company said the strategy should lead to better pricing of Congolese minerals, higher tax revenues and a broader base of buyers, strengthening the country’s commercial independence.

We welcome this first operation, which follows more than a year of work to strengthen the Democratic Republic of Congo’s position in global raw materials markets and to assert the state’s sovereignty over its mineral resources,” said Placide Nkala Basadilua, Gécamines’ chief executive, in the statement.

In the longer term, the state-owned company aims to secure sales rights of up to 500,000 tonnes of copper and 40,000 tonnes of cobalt, underlining its ambition to re-establish itself as a global player in critical minerals.

Strategic agreement

Before exercising its purchase right, Gécamines said it carried out a market consultation in late 2025. Several U.S. buyers agreed to purchase the 100,000 tonnes of copper at the end of the process under terms the company described as favourable.

Copper prices surged in 2025, rising 44% to a record $12,960 per tonne on the London Metal Exchange. Analysts expect momentum to remain strong in 2026.

The transaction also allows the DRC to implement commitments under a strategic agreement signed with the United States in Washington on Dec. 4, 2025. Under the agreement, “the DRC and its public enterprises will use their marketing rights linked to participation and contracts to provide offtake access to American and allied persons.

The mechanism requires Gécamines, or any other state-owned company, to offer its marketable volumes to U.S. companies before other buyers, provided commercial terms are comparable and aligned with international prices.

The deal is being carried out by Gécamines Trading, a joint venture with Geneva-based Mercuria Energy Trading. The venture markets copper, cobalt and other critical minerals, including germanium and gallium, produced in the DRC.

The project is backed by the U.S. International Development Finance Corp (DFC). The agency said it has issued a letter of intent for an equity investment in the joint venture, aimed at securing U.S. supply chains for strategic minerals.

Pierre Mukoko

Posted On mardi, 13 janvier 2026 13:19 Written by

The Regulatory Authority for Subcontracting in the Private Sector (ARSP) has issued a decision that directly affects mining supply chains in the Democratic Republic of Congo.

In a decision published on Jan. 7, 2026, the regulator ruled that the supply of sulfuric acid, chemical reagents and similar inputs will be restricted exclusively to licensed subcontracting companies, in line with Law No. 17/001 governing private-sector subcontracting.

According to the decision, the supply of sulfuric acid, lime, flotation reagents, extractants and other chemicals used in ore processing is classified as a subcontracting activity in its own right. As a result, these supplies may no longer be provided directly by mining companies or by firms that are not listed in the ARSP’s official register.

The ARSP said the move was prompted by ongoing attempts to bypass subcontracting rules, which have allowed ineligible operators to dominate a strategic segment of the mining industry. Such practices, the regulator said, run counter to the law’s objective of ensuring meaningful participation by Congolese companies in markets generated by mining activity.

Under the new rules, mining companies must source acid and processing reagents exclusively from ARSP-approved subcontractors or face administrative sanctions under existing regulations.

The authority said it focused on the acid and reagents market because of the central role these products play in ore processing, particularly in copper and cobalt production. They are essential to leaching techniques used to extract metals from ore.

Until now, these inputs were largely supplied by foreign firms or entities integrated into major mining groups, limiting access for local suppliers. This, the regulator said, justified targeting the segment for stricter enforcement of subcontracting rules.

The decision forms part of the government’s broader strategy to promote local content and strengthen Congolese small and medium-sized enterprises. It aims to deepen the integration of national companies into the mining value chain and support job creation.

Boaz Kabeya

Posted On lundi, 12 janvier 2026 17:55 Written by
  • DR Congo launched validation talks on a national strategy for critical minerals on January 7 in Lubumbashi.
  • The draft prioritizes local processing, ESG standards, clean energy use, and improved sector governance.
  • Experts urge a coherent framework to turn mineral wealth into inclusive, sustainable development.

The Democratic Republic of Congo moved closer to validating its national strategy for critical minerals and metals as the Ministry of Mines launched validation sessions on January 7, 2026, in Lubumbashi, in the Haut-Katanga province.

The sessions, scheduled to conclude on January 8, will review policy directions on promoting local processing, developing sustainable industrialization, complying with environmental, social and governance (ESG) standards, mobilizing clean energy, strengthening human and technological capacities, improving sector governance, and sharing benefits with local communities.

The Ministry of Mines said Congolese and African experts drafted the strategy with support from Southern Africa Resources Watch (SARW), which has acted as a technical and financial partner to the Congolese mining sector for nearly two decades.

The document aims to provide the country with a consensual and operational framework focused on economic diversification, industrialization, job creation and enhanced value addition from national mineral resources.

The ministry added that this step forms part of a broader process to design a roadmap to reposition DR Congo as a major industrial player in the global value chain for critical minerals and metals, which underpin the energy transition and green industrialization.

In a report published on March 20, the Natural Resource Governance Institute (NRGI) said DR Congo needs a coherent strategic framework to ensure that the energy transition delivers tangible benefits to the population. The report, titled “The Democratic Republic of Congo and the Energy Transition Challenge: Turning Mineral Wealth into a Lever for Sustainable Development,” highlighted structural weaknesses.

NRGI identified gaps in inter-institutional coordination, conflicts of interest, politicization of public action and weak stakeholder inclusion as key factors that have hindered the emergence of a harmonized framework between the mining and energy sectors.

Meanwhile, DR Congo continues to face challenges in locally processing its mineral resources. According to a report by the Publish What You Pay (PWYP) network, the country holds significant potential to capture greater value added as global demand for strategic minerals accelerates amid the transition toward low-carbon economies.

This article was initially published in French by Ronsard Luabeya
Adapted in English by Ange Jason Quenum

Posted On jeudi, 08 janvier 2026 19:41 Written by
  • Ivanhoe Mines said total investment in the Kamoa-Kakula copper smelter reached $1.1 billion.
  • The figure exceeded the $700 million estimate announced in 2021.
  • Power infrastructure, including Inga II rehabilitation, accounted for a significant share of costs.

Ivanhoe Mines said total investment in the new smelter at the Kamoa-Kakula copper complex reached $1.1 billion, as the company announced the first production of copper anodes.

The company linked the start-up of the smelter to the full capital deployment in a statement accompanying the production milestone.

Robert Friedland, founder and executive co-chairman of Ivanhoe Mines, said the event marked “the culmination of a $1.1 billion investment.”

The $1.1 billion figure exceeded the capital cost estimate Ivanhoe Mines disclosed during the project’s early development stages.

In a statement dated Nov. 18, 2021, Ivanhoe Mines said expected capital expenditure for the smelter stood “in the region of $700 million,” and the company said operating cash flows from Kamoa-Kakula would fund the project.

Ivanhoe Mines did not explicitly state the reasons for the gap between the 2021 estimate and the 2026 investment figure.

However, the $1.1 billion total appeared to include ancillary infrastructure costs, even though the company built the smelter according to the same design outlined in 2021.

Ivanhoe Mines constructed a direct-to-blister smelter with nominal capacity of 500,000 tonnes per year of blister copper, alongside sulfuric acid by-product production and emissions standards aligned with those of the International Finance Corporation, part of the World Bank Group.

To enable initial anode production, Ivanhoe Mines not only built the smelter but also installed an uninterruptible power supply system.

The company said the 60-megawatt system could provide up to two hours of instant backup power, protecting the smelter from voltage fluctuations on the Democratic Republic of Congo’s national grid.

In parallel, the company required 50 megawatts of clean electricity to commission the smelter.

To secure that supply, Ivanhoe Mines rehabilitated turbine five at the Inga II hydroelectric dam, which has total installed capacity of 178 megawatts.

Kamoa Copper, owner of the Kamoa-Kakula complex, estimated the investment at $450 million, including ongoing grid modernization works.

This article was initially published in French by Boaz Kabeya

Adapted in English by Ange Jason Quenum

 

Posted On jeudi, 08 janvier 2026 06:17 Written by
  • NIU Invest granted Critical Metals a £2.1 million ($2.84 million) convertible loan.
  • The funding will support operations at the Molulu copper-cobalt project in the DRC.
  • Critical Metals targets first mineral sales from Molulu by mid-2026.

NIU Invest SE, the majority shareholder of Critical Metals, has granted the company a loan of £2.1 million, equivalent to about $2.84 million, to finance its activities, notably at the Molulu copper and cobalt project in the Haut-Katanga province of the Democratic Republic of Congo.

The company announced the financing on December 31, 2025. The loan has an 18-month maturity and carries an annual interest rate of 10%, payable at the end of the term.

According to the disclosed terms, the loan takes the form of a convertible bond. This structure allows NIU Invest SE to convert the loan into equity in Critical Metals at any time and under certain conditions.

NIU Invest has used similar instruments to gradually increase its stake in the company. Its participation has now reached 69.62%, giving it effective control over Critical Metals.

The financing provides short-term relief for Critical Metals, whose Molulu project—70% owned by the company—has yet to generate commercial sales. The company remains loss-making.

For the financial year ended June 30, 2025, Critical Metals reported losses of about £2.4 million. This marked a reduction of roughly 13% compared with the previous financial year, when losses stood near £2.8 million.

According to the financial report, the improvement primarily reflects a reduction of about 25% in salary expenses. The company also implemented significant workforce cuts in the Democratic Republic of Congo, particularly among technical staff.

Cost-cutting measures extended to senior management. Since January 1, 2025, remuneration for the chief executive position has been reduced by as much as 30%.

First Sales Expected in 2026

Alongside its financial restructuring, Critical Metals has undergone several leadership changes. Russell Fryer stepped down as chief executive on September 4, 2025, and Ali Farid Khwaja replaced him. Khwaja subsequently resigned on December 16, 2025.

Since then, Danilo Lange has served as interim chief executive.

In its announcement, the company described Lange as an internationally experienced executive with more than 25 years of experience across the mining, consumer goods and marketing sectors. He previously held senior roles at companies including Yahoo and Red Bull and served as chief executive of Auriant Mining AB, a Swedish mining company listed on Nasdaq in the United States.

Critical Metals said his profile suits the company’s transition phase, as the board continues its search for a permanent chief executive.

The loan from NIU Invest again signals the majority shareholder’s confidence in the Molulu project, despite the company’s continued financial losses since launch.

The funding secures short-term operational financing while the company prepares for a ramp-up in activity.

According to Critical Metals’ most recent report, the first mineral sales from the Molulu mine are now expected by mid-2026.

This article was initially published in French by Timothée Manoke

Adapted in English by Ange Jason Quenum

 

Posted On mardi, 06 janvier 2026 10:37 Written by
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