Country: Democratic Republic of the Congo
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China’s CMOC Set to Overtake Switzerland’s Glencore as the DR Congo’s Top Cobalt Producer
CMOC Group is forecast to overtake Swiss mining giant Glencore as the largest producer of cobalt when the Chinese company brings another massive mine online later this year. Cobalt is a critical ingredient used to manufacture batteries for electric vehicles and ...
Sino-Canadian Copper Mining Venture in the DRC Generates $434 Million in Profit
Canadian mining giant Ivanhoe released its 2022 full-year earnings on Monday that revealed the company made a robust profit of $434 million from the Kamoa-Kakula copper mine in the Democratic Republic of the Congo, which it jointly operates with Chinese mining major Zijin Mining Group.
WEEK IN REVIEW: South Africa: Naval Drills | Ghana: Debt Crisis | DRC: Mining Contracts
Controversial joint naval exercises among South Africa, Russia, and China got underway this week off the coast of KwaZulu-Natal, prompting a fierce backlash from critics who blasted Pretoria for legitimizing Russia on the first anniversary of its invasion of Ukraine.
DR Congo Buys Nine Chinese Attack Drones for Use in War Against M23 Rebels
The Congolese government is stepping up the fight against M23 rebels with the purchase of nine Chinese CH-4 attack drones, according to a report in Africa Intelligence. The first batch of three drones will be delivered next month, with ...
And…That’s How It’s Done in the Congo: Chinese Mining Venture Settles $17 billion Claim With a $500 Million Check
Negotiators for the state-owned China Railway Engineering Corporation (CREC) finalized a deal with the Congolese government to pay for $500 million of new infrastructure this year. While that may sound like a lot of money, it's a lot less than ...
Chinese Embassy in DR Congo Dismisses State Auditor Report That Demands $17 Billion in Additional Infrastructure
The Chinese embassy in the Democratic Republic of the Congo blasted a report published late last week by the state auditor in Kinshasa that called for an additional $17 billion of infrastructure as part of a 2008 infrastructure-for-minerals deal. In its report, the General ...
New Copper/Cobalt Trade Corridors Take Shape to Serve as Alternative to South Africa
Zambia, the Democratic Republic of Congo, and Angola will set up an agency to manage a logistics corridor linking them to Angola’s Lobito port. The move comes as South Africa's Durban port has faced repeated delays. A concession to manage the corridor was recently ...
China Updates 2022 Africa Trade Figures
Chinese customs authorities are slowly releasing new trade data for individual African countries following its January announcement that trade with the continent rose by 14.5% to $276.8 billion. Country data is similarly higher than in 2021. China's Trade with Key African Countries: ...
China’s High-Profile Envoy to the DR Congo to Leave This Week
Zhu Jing, China’s outgoing ambassador, is making the rounds of Kinshasa to say goodbye before leaving the country later this week. He is vacating his post as part of a routine rotation. Zhu was a prominent voice for China as the DRC became ...
How the U.S. Aims to Compete With China in Critical Resource Mining
U.S. officials are speaking out about the urgency to diversify supply chains for critical resources that are now largely dependent on China, particularly rare earths, cobalt, and lithium that are all essential ingredients in manufacturing electric vehicle batteries. ...
U.S. Bid to Challenge China’s Dominance of the Battery Metal Supply Chain in Africa Faces Two Key Hurdles
Widely perceived as a major and concrete U.S. move to counter China in the supply chain of critical minerals in Africa, the U.S.-DR Congo-Zambia MoU signed last December in Washington, D.C., will confront significant challenges, mainly for the DRC and Zambia. Both ...
It’s Been a Big Week for Chinese Infrastructure Development in Africa
Two U.S. cabinet secretaries are currently touring Africa to fulfill President Joe Biden's promise that the United States is "all in" when it comes to bolstering ties with countries across the continent. A key part of the message that Treasury Secretary Janet ...