Dr Rafiq Raji’s Post

#Chinese firms to spend $7bn on #Congolese roads in #mining deal A Chinese consortium has agreed to invest $7bn in road improvements to settle a #legaldispute with the Democratic Republic of #Congo (#DRC), the World Highways Magazine website reports. The dispute concerned an agreement reached in 2008 between the government of Joseph Kabila, who left office in 2019, and contractors Sinohydro and CHINA RAILWAY TUNNEL GROUP CO., LTD. According to its terms, the state-owned #Chinese companies would build $3bn worth of #roads, #railways, #schools, #hospitals and dams in exchange for a 68% stake in #Sino #Congolaise des Mines (Sicomines), a joint venture with Congo’s state mining company, Gecamines S.A. By David Rogers Global Construction Reviews Hafed Al-Ghwell Foreign Policy Institute, Johns Hopkins SAIS

A positive update and outlook; our CEO Mark Learmonth commented on the latest news on Q4 Blanket mine production alongside 2024 guidance on production, costs and capital expenditure. "Our significant investment in Blanket over the past seven years and completion of the Central Shaft has nearly doubled production, extended the mine life and allowed the restart of underground exploration in 2023; in July we announced that the Eroica zone persists to depth and grades are significantly higher than previously thought. "We continue to progress with the underground exploration programme and we expect to publish further exploration results in the first quarter of 2024 and a revised resource statement in the following quarter.   "Our wider capital expenditure programme continues to focus on unlocking value and delivering our multi-asset growth pipeline in Zimbabwe with Motapa and Bilboes, whilst maintaining a disciplined focus on cost and capital allocation. "We continue to progress our feasibility studies for the Bilboes sulphide project with a view to determining the best option for Caledonia stakeholders, and I look forward to providing an update in due course." Read in full 👉https://bit.ly/47O0mzS #Caledonia #MiningNews #Exploration #Gold #GoldMining 

The infrastructure challenge extends beyond the operational needs of mines to the migration of people in the DRC to areas where mines are started. Steve Bartels, principal civil engineering technologist at SRK Consulting, highlights basic urban facilities and infrastructure – which are vital for not only supporting the surrounding communities with services but also the mine facilities. “As settlements mushroom around mining areas, it is important for authorities to adopt an integrated approach to urban infrastructure,” says Bartels. “Just as infrastructure needs to be planned and constructed according to health and engineering standards, so the same approach needs to guide the sustainable provision of water, electricity and other services.” Already there is considerable infrastructure developing to accommodate the growing business traffic from abroad, says SRK Consulting principal environmental scientist Wouter Jordaan, including an international airport, and new hotels to accommodate the influx of additional traffic into the area. “Fast-developing information technology and communication services and a growing hospitality industry in the DRC can be game-changing, while creating further opportunities to develop new skill sets in the economy,” says Jordaan. “This is one of the important signs of diversification of economic activity, which will provide and important foundation for the government’s aim of re-establishing a skilled middle class in the country.” There is wide acceptance that the mining sector, as a pioneer industry, plays a central role in this endeavour. It generates demand for a wide range of services and products, he says, which government wants mines to procure increasingly from the local economy rather than abroad. Legal requirements like the ARSP, which requires mines to procure certain services and goods from majority locally owned and registered companies, and the Cahier des Charges, which requires mines to invest in local infrastructural development to address community needs within the mine’s zone of influence, have this end in mind. Leon Louw Sally Braham Megan van Wyngaardt SRK Consulting Image credit: SRK Consulting #whyafrica #whyafricaroadtrips #africa #mining #DRC #cobalt #copper #copperbelt #lobito #angola #rail #infrastucture #hospitality #exploration #whymineafrica #whyexploreafrica   https://lnkd.in/dercR9wb

The infrastructure challenge extends beyond the operational needs of mines to the migration of people in the DRC to areas where mines are started. Steve Bartels, principal civil engineering technologist at SRK Consulting, highlights basic urban facilities and infrastructure – which are vital for not only supporting the surrounding communities with services but also the mine facilities. “As settlements mushroom around mining areas, it is important for authorities to adopt an integrated approach to urban infrastructure,” says Bartels. “Just as infrastructure needs to be planned and constructed according to health and engineering standards, so the same approach needs to guide the sustainable provision of water, electricity and other services.” Already there is considerable infrastructure developing to accommodate the growing business traffic from abroad, says SRK Consulting principal environmental scientist Wouter Jordaan, including an international airport, and new hotels to accommodate the influx of additional traffic into the area. “Fast-developing information technology and communication services and a growing hospitality industry in the DRC can be game-changing, while creating further opportunities to develop new skill sets in the economy,” says Jordaan. “This is one of the important signs of diversification of economic activity, which will provide and important foundation for the government’s aim of re-establishing a skilled middle class in the country.” There is wide acceptance that the mining sector, as a pioneer industry, plays a central role in this endeavour. It generates demand for a wide range of services and products, he says, which government wants mines to procure increasingly from the local economy rather than abroad. Legal requirements like the ARSP, which requires mines to procure certain services and goods from majority locally owned and registered companies, and the Cahier des Charges, which requires mines to invest in local infrastructural development to address community needs within the mine’s zone of influence, have this end in mind. Leon Louw Sally Braham Megan van Wyngaardt SRK Consulting Image credit: SRK Consulting #whyafrica #whyafricaroadtrips #africa #mining #DRC #cobalt #copper #copperbelt #lobito #angola #rail #infrastucture #hospitality #exploration #whymineafrica #whyexploreafrica   https://lnkd.in/drq_gHBU

Guinea secures $15bn financing for Simandou iron ore project

Exciting to witness the groundbreaking Simandou Project in Guinea by Winning Consortium Simandou (WCS) – a mining endeavor of global significance! 🌍💼 Here's how Soil Solutions can play a pivotal role: 1️⃣ Dust Prevention: With vast access roads, dust can be a concern. Soil Solutions provides innovative solutions for dust control, ensuring a safer and cleaner environment. 2️⃣ Access Roads & Mine Haul Roads: Robust roads are the lifeline of mining projects. Soil Solutions specializes in constructing and maintaining durable roads, enhancing operational efficiency. 3️⃣ Runways: The planned airport can benefit from Soil Solutions' expertise in runway construction. Ensuring a sturdy, reliable runway is crucial for logistical operations. Intelligent Mining Solutions provided by Soil Solutions https://lnkd.in/dR32Z2qU Kudos to WCS for driving sustainable mining in Guinea! 🚀🌱 #mininginnovation #infrastructuredevelopment #sustainablemining #dustfree #dustcontrol #maintenancefree #roadconstruction #surfacetreatment #runway #waterconservation #co2reduction #dieselperformance #operationalefficiency #intelligentsolutions

Mining operations significantly impact the environment and climate, making sustainable practices essential. Oman’s Ministry of Environment and Climate Affairs is enhancing its licensing procedures to promote responsible mining and investment. While unlocking Oman’s mineral wealth is crucial for industrial growth, it must be balanced with environmental considerations. The proposed 625-km railway line will connect mineral-rich areas like Shuwaymiyah and Manji to Duqm Port, boosting infrastructure while minimizing environmental disruption. Oman’s Public Authority for Mining is developing a streamlined strategy, including a Single Window System for licenses and pre-approved mining blocks. This approach aims to offer 'investment-ready' concessions, simplifying the process for investors. The proposed Institute of Minerals and Materials Technology will further enhance research and development in sustainable practices. These initiatives seek to create a regulatory framework that prioritizes environmental protection alongside mining development. #SustainableMining #OmanMining #ClimateImpact #EnvironmentalProtection #InfrastructureDevelopment

Chinese construction companies will invest up to $7 billion in infrastructure projects as part of an agreement over their Sicomines copper and cobalt joint venture in the Democratic Republic of Congo, they said on Saturday. Both parties agreed to maintain the current structure of the shareholding, while the Chinese partners, Sinohydro Corp and China Railway Group Limited, will pay 1.2% of royalties annually to Congo, according to a statement. President Felix Tshisekedi’s government had been revisiting the deal struck by his predecessor Joseph Kabila under which the Chinese partners agreed to build roads and hospitals in exchange for a 68% stake in the joint venture with Congo’s state mining company Gecamines. Under the deal, the Chinese investors committed to spending $3 billion on infrastructure projects, but the state auditor – Inspection Generale des Finances (IGF) – last year demanded that commitment be increased to $20 billion. Tshisekedi instructed his government to hold talks with the investors ahead of a visit to China in May 2023. He had aimed to boost Congo’s stake in the joint venture to 70% from 32%. “It is a win-win deal,” IGF head Jules Alingete said in a press conference, adding that negotiations had not been easy. Ernest Mpararo, head of the Congolese Anti-Corruption League, said the announcement was a step forward but flagged that Sicomines remained exempt from paying taxes. He also pointed to money owed under the last agreement. A 2023 IGF report found that only $822 million of the $3 billion promised for infrastructure investments had been spent. Congo is the world’s biggest producer of cobalt, a key component in batteries for electric cars and mobile phones. It is also the world’s third-largest copper producer. Its mining sector is largely dominated by Chinese companies. Tshisekedi, who won a second mandate in December, had signposted the agreement in his Jan. 20 inauguration speech. #mining #minerals #commodities #lithium #copper #nickel #cobalt #manganese #gold #uranium #web #investment #billionaire #refinery #processingplant #chinese #companies #invest #congo #mininginfrastructure #projects #shareholders #jointventures

Chinese companies to invest up to $7 Bn in Congo mining infrastructure Chinese construction companies will invest up to $ 7 Bn in infrastructure projects as part of an agreement over their Sicomines copper and cobalt joint venture in the Democratic Republic of Congo. Both parties agreed to maintain the current structure of the shareholding, while the Chinese partners, Sinohydro Corp (SINOH.UL) and China Railway Group Limited, will pay 1.2% of royalties annually to Congo, according to a statement. President Felix Tshisekedi's government had been revisiting the deal struck by his predecessor Joseph Kabila under which the Chinese partners agreed to build roads and hospitals in exchange for a 68% stake in the joint venture with Congo's state mining company Gecamines. Under the deal, the Chinese investors committed to spending $3 billion on infrastructure projects, but the state auditor - Inspection Generale des Finances (IGF) - last year demanded that commitment be increased to $20 billion. Tshisekedi instructed his government to hold talks with the investors ahead of a visit to China in May 2023. He had aimed to boost Congo's stake in the joint venture to 70% from 32%. "It is a win-win deal," IGF head Jules Alingete said in a press conference, adding that negotiations had not been easy. Ernest Mpararo, head of the Congolese Anti-Corruption League, said the announcement was a step forward but flagged that Sicomines remained exempt from paying taxes. He also pointed to money owed under the last agreement. A 2023 IGF report found that only $822 million of the $3 billion promised for infrastructure investments had been spent. Congo is the world's biggest producer of cobalt, a key component in batteries for electric cars and mobile phones. It is also the world's third-largest copper producer. Its mining sector is largely dominated by Chinese companies. Tshisekedi, who won a second mandate in December, had signposted the agreement in his Jan. 20 inauguration speech. Source: https://lnkd.in/gANjccg9 #ChinaEconomy #FinanceInsights #FinanceNews