|
Sodimico
Sodimico (''Société de développement industriel et minier du Congo'') is a Congolese state-owned mining company in the Democratic Republic of the Congo (DRC). In 2022 the DRC General Inspectorate of Finance blamed the government for putting the company into bankruptcy through mismanagement and corruption. Early years Sodimico took over several mining properties from the Union Miniere du Katanga in 1967, when President Mobotu partially nationalized the Zaire economy. Sodimico was a subsidiary of the giant state-owned Gécamines. The primary focus was on gold mining. In 1988 the Kinsenda mine was flooded, halting production for two years. During the 1990s the company was badly affected by civil conflict and by the government's privatization policies. In many cases workers went unpaid for months. During the Second Congo War (1998–2003) and in the unrest that followed "peace", informal mining by artisans produced much of the copper and cobalt, exporting it illegally with the co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Martin Kabwelulu
Martin Kabwelulu Labilo is a politician in the Democratic Republic of the Congo. He is a member of the Parti Lumumbiste Unifié (PALU). He was appointed Minister of Mines on 5 February 2007 in the government led by Antoine Gizenga, and retained this post through the reshuffle of 25 November 2007. Martin Kabwelulu Labilo was named Minister of Mines by President Joseph Kabila in the government headed by Antoine Gizenga in February 2007 one of four members of Gizenga's Unified Lumumbist Party (PALU) to be named to the cabinet. In February 2011 Kabwelulu was in talks with South African banks, seeking $150 million to revive the state-owned diamond miner, Societé minière de Bakwanga, MIBA, which had been closed since November 2008. MIBA is 20% owned by Mwana Africa. Kabwelulu said that since the closure almost all diamond production had been from informal, artisanal workings. In May 2011 Kabwelulu, who was also serving as acting Minister of Transport, announced a $600 million 5-year p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lonshi Mine
Lonshi Mine is a copper mine in Katanga Province of the Democratic Republic of the Congo, to the southeast of Ndola, Zambia. Operations The mine produces high-grade oxide ore that was transported to Zambia for processing at the SX/EW facility in Bwana. Both the mine and the Bwana Mkubwa facility away were owned by First Quantum Minerals (FQM). In January 2003 FQM announced an increase in estimated reserves from 295,000 tonnes to 356,000 tonnes of contained copper. In 2006 the mine produced about 520,000 tonnes of ore grading 10.3% copper, and copper cathode production was 51,068 tonnes. Controversy In December 2007 Moise Katumbi, the governor of Katanga province, ordered First Quantum Minerals to stop exporting copper ore from the Lonshi mine to Zambia. The stoppage was related to a dispute over contract terms. In May 2010 a Congolese court ruled that FQM's Lonshi and Frontier copper mines had been awarded illegally and that they should revert to state-owned Sodimico. Accor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
First Quantum Minerals
First Quantum Minerals is a Canadian-based mining and metals company whose principal activities include mineral exploration, development and mining. Its main product is copper, which accounts for 80% of revenues as of 2016. First Quantum's common shares are listed for trading on the Toronto Stock Exchange in Canada (symbol "FM"). Until 2016, First Quantum also maintained a secondary listing on the London Stock Exchange (symbol "FQM"), in the United Kingdom. History First Quantum was founded in 1983 under the name Xenium Resources. It changed its name to Zeal Capital in 1989, First Quantum Ventures in 1993, and First Quantum Minerals in 1996. Its first significant operation was the Bwana Mkubwa mine in Zambia, acquired in 1996. In 2000, First Quantum acquired a partial interest in Mopani Copper Mines, a Zambian copper company. In 2001, it opened the Lonshi Copper Mine in the Democratic Republic of the Congo. Also in 2001, the company acquired the Kansanshi mine in Zambia ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Metorex
Metorex is a mining company based in Johannesburg, South Africa. It has assets in the Democratic Republic of the Congo (DRC), Zambia and elsewhere. A takeover bid by the Jinchuan Group of China valued the company at US$1.1 billion. Since January 2012, the company is a wholly owned subsidiary of Jinchuan Group. History The company was founded in 1975 by a consortium that included Anthony Simon Malone, and acquired Rand London Mines. In the following years Metorex acquired additional properties mining a variety of minerals including gold, coal, asbestos, copper, zinc and tin. The mines were located in South Africa, Namibia and Zambia. In December 1999 Metorex merged with Consolidated Murchison and listed on the JSE and LSE exchanges. In the following years the company continued to expand through acquisition of new properties. In 2004 Metorex entered into a joint venture to develop the Ruashi copper mine site in the DRC, and subsequently made substantial investments in this projec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
State-owned Enterprise
A state-owned enterprise (SOE) is a business entity created or owned by a national or local government, either through an executive order or legislation. SOEs aim to generate profit for the government, prevent private sector monopolies, provide goods at lower prices, implement government policies, or serve remote areas where private businesses are scarce. The government typically holds full or majority ownership and oversees operations. SOEs have a distinct legal structure, with financial and developmental goals, like making services more accessible while earning profit (such as a state railway). They can be considered as government-affiliated entities designed to meet commercial and state capitalist objectives. Terminology The terminology around the term state-owned enterprise is murky. All three words in the term are challenged and subject to interpretation. First, it is debatable what the term "state" implies (e.g., it is unclear whether municipally owned corporations and ente ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sakania Territory
Sakania is a territory in the Haut-Katanga Province of the Democratic Republic of the Congo. Sakania Territory makes up the majority of the Congo Pedicle, a salient of the Democratic Republic of the Congo surrounded by Zambia. The seat of Sakania Territory is Sakania Sakania is a town in Haut-Katanga Province, in the Congo Pedicle, in the far south of the Democratic Republic of Congo, near the border with Zambia. It is located at an elevation of 1278m asl, therefore it has a cool climate. Between 1935 and 1939 .... References Territories of Haut-Katanga Province {{HautKatanga-geo-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Monetary Fund
The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution funded by 191 member countries, with headquarters in Washington, D.C. It is regarded as the global lender of last resort to national governments, and a leading supporter of exchange-rate economic stability, stability. Its stated mission is "working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and poverty reduction, reduce poverty around the world." Established in July 1944 at the Bretton Woods Conference, primarily according to the ideas of Harry Dexter White and John Maynard Keynes, it started with 29 member countries and the goal of reconstructing the international monetary systems, international monetary system after World War II. In its early years, the IMF primarily focused on facilitating fixed exchange rates across the developed worl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reuters
Reuters ( ) is a news agency owned by Thomson Reuters. It employs around 2,500 journalists and 600 photojournalists in about 200 locations worldwide writing in 16 languages. Reuters is one of the largest news agencies in the world. The agency was established in London in 1851 by Paul Reuter. The Thomson Corporation of Canada acquired the agency in a 2008 corporate merger, resulting in the formation of the Thomson Reuters Corporation. In December 2024, Reuters was ranked as the 27th most visited news site in the world, with over 105 million monthly readers. History 19th century Paul Julius Reuter worked at a book-publishing firm in Berlin and was involved in distributing radical pamphlets at the beginning of the Revolutions of 1848. These publications brought much attention to Reuter, who in 1850 developed a prototype news service in Aachen using homing pigeons and electric telegraphy from 1851 on, in order to transmit messages between Brussels and Aachen, in what today is Aa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Eurasian Natural Resources Corporation
Eurasian Natural Resources Corporation PLC (ENRC) was a public, Kazakhstan/Central African-focused, multinational leading diversified natural resources company headquartered in London, United Kingdom. It had activities in integrated mining, processing, energy, logistics and marketing. ENRC was formed in 1994, listed on the London Stock Exchange in 2006, and delisted after a near six-year spell in November 2013. A secondary listing and subsequent de-listing also took place on the Kazakhstan Stock Exchange. ENRC is now a fully owned subsidiary of the Eurasian Resources Group (ERG), a private natural resources company headquartered in Luxembourg. This private company incorporates the assets of former FTSE-100 group, ENRC PLC, which it acquired in November 2013. History Major events The company was founded by circle of oligarchs in Kazakhstan known as the "Trio" in 1994. The Trio consisted of Alijan Ibragimov, Alexander Mashkevitch and Patokh Chodiev, all active in the mining, o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kolwezi Tailings Project
The Kolwezi tailings project ( French: ''Projet de résidus de Kolwezi'') also known as the Roan Tailings Reclamation (RTR; ''Récupération des résidus de Roan'') is a project in the Kolwezi mining area of the Democratic Republic of the Congo (DRC) to recover copper from the tailings, or processed ore, from mining in the region since the 1950s. The project was developed by the Canadian mining companies Adastra Minerals and then First Quantum Minerals between 2004 and 2009, when the DRC government revoked First Quantum's license. The project is currently majority owned by the Eurasian Resources Group. Location Kolwezi is a town of about 200,000 people in the Katanga Province of the DRC. It has been a mining center for 100 years. The main river valley is filled with tailings, and there are extensive pits, waste rock dumps and tailings deposits. The air is polluted by wind-blown tailings. Infrastructure such as roads, water supply and management, schools and hospitals was once go ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Adolphe Muzito
Adolphe Muzito (born 12 February 1957"DR Congo president names new prime minister: report" , AFP, 10 October 2008.) is a Congolese politician who was from 2008 to 2012. Muzito, a member of the Unified Lumumbist Party (PALU) until 2015, was Minister of the Budget under Prime Minister Antoine Gizenga from 2007 to 2008. He ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
