The Democratic Republic of Congo’s Mines Ministry postponed a ban on exports of concentrated copper and cobalt until 2015 because the country doesn’t have enough electricity to process the minerals, Mines Minister Martin Kabwelulu said.
Gecamines, the Democratic Republic of Congo’s state-owned mining company, didn’t tell the Mines Ministry of a possible sale of its stake in Kamoto Copper Co. to billionaire Dan Gertler, according to a letter from the mines minister.
The Democratic Republic of Congo’s Mines Minister, Martin Kabwelulu , will ask the president to lift a mining ban in three of the country’s eastern provinces, introduced six months ago to break a link between armed groups and the illegal mineral trade that’s fueled more than 15 years of conflict in the region.
Democratic Republic of Congo will respect the results of an international arbitration case filed by First Quantum Minerals Ltd. over a canceled $750 million mining project, Mines Minister Martin Kabwelulu said.
The Democratic Republic of Congo’s copper-rich Katanga province said it won’t implement a government ban on exporting copper and cobalt concentrate because it doesn’t have capacity to process all the ore itself.
Democratic Republic of Congo’s mines minister reassured investors after separatists attacked the capital of mineral-rich Katanga province, raising concern among analysts that the region faces increased conflict.
Democratic Republic of Congo started a five-year, $600 million renovation of rail lines in the south- east of the country to boost trade, lower prices and develop its mining industry, Mines Minister Martin Kabwelulu said.
The Democratic Republic of Congo won an interim decision at the International Court of Arbitration in Paris allowing the country to sell a project previously owned by First Quantum Minerals Ltd. , the mines minister said.
The Democratic Republic of Congo may increase state participation in mining projects to 35 percent from 5 percent and raise royalties on mineral exports, according to a report obtained by the country’s business association.