International news within the industry of mining and metal, Apr, 24 2019
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 International miners in DRC form new industry body

Published by
Simon Matthis - 24 Aug 2018

International miners with assets in the Democratic Republic of Congo (DRC) have established a new industry body to engage the government on their concerns about the mining sector, according to INN News.

The Mining Promotion Initiative was launched by mining companies including top cobalt producer Glencore, Ivanhoe Mines and MMG.

The miners represented by the organization account for 80 percent of copper and cobalt production in the country.

MPI general secretary Richard Robinson said the industry’s most important issue remains the application of the 2018 mining code.

According to the organization, the new code compromises those investors who have invested in the country individually and alongside state companies, on terms guaranteed by the government through legislation, specific guarantees and bilateral trade agreements.

Furthermore, should some of the key issues in the new code not be addressed it would discourage further investment in large and small sustainable projects, which is crucial for the DRC economy as well as the mining sector.

More than 50 percent of the global cobalt output is mined in the DRC, and the country is also Africa’s largest copper producer.

“That is why we are committed to continue working with the government to seek a mutually agreeable solution and improve the legal framework for current and new investments,” Robinson said, as quoted by INN News.

The property lies in the famous Cobalt province and is approximately 47 km south of the town of Cobalt. The picture shows an old mine in the town of Cobalt. In the early 1900s, the area was heavily mined for silver; the silver ore also contained cobalt. By 1910, the community was the fourth highest producer of silver in the world. Mining declined significantly by the 1930s, together with the local population. In late 2017 one publication referred to Cobalt as a ghost town, but the high demand for cobalt, used in making batteries for mobile devices and electric vehicles, is leading to great interest in the area among mining companies. Photo: Wikipedia, credit: P199
The property lies in the famous Cobalt province and is approximately 47 km south of the town of Cobalt. The picture shows an old mine in the town of Cobalt. In the early 1900s, the area was heavily mined for silver; the silver ore also contained cobalt. By 1910, the community was the fourth highest producer of silver in the world. Mining declined significantly by the 1930s, together with the local population. In late 2017 one publication referred to Cobalt as a ghost town, but the high demand for cobalt, used in making batteries for mobile devices and electric vehicles, is leading to great interest in the area among mining companies. Photo: Wikipedia, credit: P199

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Sotkamo Silver consists of the parent company, Sotkamo Silver AB, with one wholly-owned subsidiary in Finland: Sotkamo Silver Oy. Sotkamo Silver develops silver, gold and zinc deposits in the Nordic region. The Company has completed the Definitive Feasibility Study for the Silver Mine project and is working on project financing issues. Photo: Sotkamo Silver
Sotkamo Silver consists of the parent company, Sotkamo Silver AB, with one wholly-owned subsidiary in Finland: Sotkamo Silver Oy. Sotkamo Silver develops silver, gold and zinc deposits in the Nordic region. The Company has completed the Definitive Feasibility Study for the Silver Mine project and is working on project financing issues. Photo: Sotkamo Silver

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The joint initiative called HYBRIT of SSAB, LKAB and Vattenfall – here with their three representatives at the fair, from right, Martin Pei technology manager at SSAB, Jan Moström CEO of LKAB and Martin Lindqvist, CEO of SSAB. HYBRIT is now on exhibit as an exciting sustainability collaboration at one of the worlds largest industrial trade fairs in Hanover. The CEOs of the three companies are in Germany to show the rest of Europe that it is possible to produce fossil free steel. Photo: SSAB

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