Country: Democratic Republic of the Congo
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China Molybdenum Co. (aka China Moly), the world's second-largest copper and cobalt mining company, has denied reports that its contracts for the massive Tenke Fungurume Mine (TFM) in the Democratic Republic of the Congo are now under review by the government in Kinshasa. There is no "so-called investigation,"
WeChat Currency Scams Are Widespread Within the Chinese Expat Population in Africa
Last week we told you about how Chinese expatriates in Ghana were getting scammed by fraudsters posing as currency exchange dealers on WeChat. Now, victims of similar schemes from the Chinese diaspora in other African countries are gathering on various WeChat forums to share how ...
Tshisekedi Keeps Promise to Re-Negotiate Foreign Mining Contracts, Launches Investigation Into China Moly
DR Congo President Félix Tshisekedi is following through with his promise to review all foreign mining contracts, mostly with Chinese companies, to evaluate whether the deals that were struck during his predecessor's tenure are equitable.
Sino-Congolese Mining Venture Sicomines Launches Conveniently Timed Social Development Program
The Sino-Congolese mining company Sicomines held a signing ceremony on Saturday for one of its largest community development initiatives in the joint venture's 14-year history. The company will spend almost $12 million to upgrade the infrastructure and provide development assistance to local communities around its ...
Congolese Governor Orders Suspension of Six Chinese Mining Companies in South Kivu Over Environmental Violations
Théo Ngwabidje Kasi (photo), governor of South Kivu province in the Eastern DR Congo, ordered six Chinese-owned mining companies to suspend operations in a bid to "restore order" after weeks of mounting tensions between the companies and the community. Three Congolese companies were also ...
Yet Another Social Media Video Revealing Tensions Between Chinese and Congolese Miners
In what's becoming an increasingly frequent pattern, another video appeared online on Sunday showing a heated exchange between a Chinese and Congolese miner. The video that is now circulating widely on Twitter, Facebook, and YouTube does not provide a lot of contextual information as to ...
Week in Review: Crime, COVID and Cables
The Facebook-led 2Africa undersea data cable initiative announced that it will add three more countries to its list of landing sites across Africa. Seychelles, Comoros, and Angola will all be connected to the billion-dollar, 37,000-kilometer cable that will connect Africa, Europe, and the Middle East. In what is ...
With Smaller, Targeted Loans, China Deploys New Development Finance Strategy in Africa
The huge state-owned power construction company China Three Gorges Corporation (CTG) signed a small $31.22 million contract last week to upgrade a pair of substations outside of the Ghanaian capital Accra. For a company as large as CTG a deal like this is financially insignificant, but it ...
China’s EV Battery Industry Headed in Two Seemingly Opposite Directions
Chinese chemicals manufacturer Jiangsu Lopal Tech announced a new joint venture with a Chinese fertiliser company to build a new factory to manufacture materials for use in lithium iron phosphate (LFP) batteries that are used to power electric cars. When fully operational, the new plant ...
China’s Ambassador to DRC Calls on Interior Minister To Personally Get Involved in the Search For Three Kidnapped Chinese Nationals
Chinese ambassador to the Democratic Republic of the Congo, Zhu Jing, called on Interior and Security Minister Daniel Aselo Okito Koy on Tuesday to personally intervene in the search for three Chinese nationals who went missing last week and are presumed to have been kidnapped ...
Analysts: Chinese Consolidation in the Cobalt Sector Not Likely to Impact Prices
The Chinese cobalt and copper mining giant China Molybdenum's recently announced plans to invest $2.5 billion in its already massive Tenke Fungurume Mining (photo) in the Democratic Republic of the Congo prompted new concerns that heightened Chinese control over the cobalt sector would push up prices of the ...
Assessing the Impact of Anti-China Sentiment in the Global South
In many countries in Africa, Asia, and throughout the Global South there's often a large discrepancy between perceptions of China in civil society and among governing elites. This phenomenon has been on full display recently in the Democratic Republic of the ...