Tag: DRC
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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 ...
China’s Ambassador to the DR Congo to Leave
Chinese ambassador to the Democratic Republic of the Congo stopped by the Defense Ministry in Kinshasa this week to say goodbye to Minister Gilbert Kabanda. Zhu also left a parting gift of $27 million of security assistance for the Congolese military. ...
Massive New Chinese-financed Cultural Center Takes Shape in Kinshasa
Three years after Chinese contractors broke ground to build the new Central African Cultural and Arts Center in the DR Congo capital of Kinshasa, the 36,000-square-meter development is now taking shape. Outgoing Chinese ambassador to the DRC, Zhu Jing, posted an update on Twitter about ...
Is the DRC Making Progress in Reshaping Its Controversial Chinese Deals? Maybe.
The Democratic Republic of Congo could be closer to overhauling two controversial Chinese deals. Finance Minister Nicolas Kazadi told Reuters the government is in active talks with Sicomines, a joint venture between the DRC’s state mining company Gécamines, and Sinohydro and China Railway Group, who were supposed to ...
3 Chinese Nationals Arrested in DRC For Allegedly Murdering a Compatriot
A trio of suspected Chinese "bandits" were made to pose in front of a stash of weapons and cash seized by military authorities in the southern DRC province of Lualaba. Authorities claim the three extorted the money from a fellow Chinese ...
U.S. Signs MoU with DRC, Zambia for e-Vehicle Supply Chains
The governments of Zambia and the Democratic Republic of Congo signed a Memorandum of Understanding with the United States to develop an electric vehicle supply chain in their countries. The exact details of the agreement are still unclear, but it likely involves refining cobalt - a key mineral used ...
Chinese EV Battery Maker Unveils Multibillion Dollar IPO, Will Use Proceeds to Develop Next-Gen Cobalt-free Batteries
One of China's hottest electric vehicle battery makers announced plans to go public on the Shanghai Stock Exchange's NASDAQ-like STAR market in a bid to raise $2 billion to build next-generation EV power packs. SVOLT ...
Why Battery Decoupling Projections Could Be Way Off
The United States and Europe could free themselves from their dependence on China for electric vehicle batteries by 2030, if they invest about $160 billion. This is the key finding of a new Goldman Sach forecast, which extrapolated the long-term effects ...
China-Linked Group Will Run Angolan Transport Corridor
The Angolan government has signed a $450 million agreement with the Portuguese infrastructure group Mota-Engil to run rail and logistics in the Lobito Transport Corridor, which connects Lobito Port to the mining zone in the southern Democratic Republic of Congo.
U.S. Plans to Bypass China’s Cobalt Dominance with Arizona Plant
The Singapore-based commodities trader Trafigura announced it will partner with the U.S. battery metals processing firm EVelution to build a battery-grade cobalt sulfate processing facility in Arizona. The facility is projected to produce 7,000 tons of cobalt sulfate by 2027, an estimated 40% of ...
WEEK IN REVIEW: Singapore Prime Minister Said There Is No Consensus yet About China Joining the Trans-Pacific Trade Pact CPTPP
Singapore Prime Minister Lee Hsien Long said there is no consensus yet about China joining the trans-Pacific trade pact CPTPP. Although Prime Minister Lee said on Tuesday that he personally believes China would be able to meet the bloc's admission requirements, Australian Trade Minister Don Farrell is on ...
Chinese Mining Giant CMOC Bats Back Fresh Rumors Its TFM Cobalt Mine in the Congo Has Been Suspended
Chinese mining giant CMOC (previously known as China Molybdenum) denied new rumors that Congolese authorities had shut down operations at its massive TFM copper and cobalt mine in the southern DRC. "At present, TFM's production and operation are normal,"