AVZ Discussion 2022

Democratic Republic of the Congo - Investment Climate Statement

The U.S. Department of State’s Investment Climate Statements provide information on the business climates of more than 170 economies and are prepared by economic officers stationed in embassies and posts around the world.

They analyze a variety of economies that are or could be markets for U.S. businesses.

The Investment Climate Statements are also references for working with partner governments to create enabling business environments that are not only economically sound, but address issues of labor, human rights, responsible business conduct, and steps taken to combat corruption.

The reports cover topics including Openness to Investment, Legal and Regulatory Systems, Protection of Real and Intellectual Property Rights, Financial Sector, State-Owned Enterprises, Responsible Business Conduct, and Corruption.

Mining investment and exports, supported by improving mineral prices and increasing public investment, remain the main drivers of growth.

The DRC is endowed with exceptional natural resources, including mineral deposits (cobalt, copper, etc.), great hydroelectric potential, vast arable land, tremendous biodiversity, and the second largest tropical forest in the world.

Its strategic location in the heart of Africa makes it a potentially attractive market for U.S. companies.

Félix Antoine Tshisekedi Tshilombo’s ascension to the presidency in 2019 and his government’s commitment to attracting international, particularly U.S., investment have raised hopes in the business community for greater openness and transparency.

Reflecting progress on human rights, anti-corruption, and labor, the GDRC became eligible for preferential trade preferences under the Africa Growth and Opportunity Act (AGOA) in January 2021.

Tshisekedi created a Business Climate Unit (CCA), a presidential unit dedicated to addressing issues related to the business climate.

Overall investment is increasing, fueled by multilateral donor funding and private domestic and international financing.

The extractive sector has historically attracted the most foreign investment and continues to attract investor attention as global demand for DRC’s minerals grows.

The primary mineral sector is the country’s main source of revenue.

Exports of copper, cobalt, gold, coltan, diamonds, tin, and tungsten account for more than 95 percent of the DRC’s export revenue.

Overall, businesses in the DRC face numerous challenges, including poor infrastructure, a predatory tax system, and corruption.

While laws protecting investors are in place, the court system is often very slow to make decisions or follow the law, allowing many investment disputes to drag on for years.

The court system lacks basic digitalization to track cases, record decisions, or provide judges with resources needed to make well-informed decisions.

Judges, who earn low wages, are open to corrupt influences.

Concerns about the use of child labor in the artisanal mining of copper and cobalt have discouraged potential buyers.

U.S. government assistance programs to build capacity for labor inspection and enforcement are helping to address these concerns.

The GDRC’s announced priorities include increased efforts to combat corruption, electoral reform, a review of mining contracts signed under the Kabila regime, and improvements in mining revenue collection.

To access the ICS, visit the U.S. Department of State Investment Climate Statements website.

www.trade.gov/country-commercial-guides/democratic-republic-congo-investment-climate-statement

Frank said:

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Democratic Republic of the Congo - Investment Climate Statement

The U.S. Department of State’s Investment Climate Statements provide information on the business climates of more than 170 economies and are prepared by economic officers stationed in embassies and posts around the world.

They analyze a variety of economies that are or could be markets for U.S. businesses.

The Investment Climate Statements are also references for working with partner governments to create enabling business environments that are not only economically sound, but address issues of labor, human rights, responsible business conduct, and steps taken to combat corruption.

The reports cover topics including Openness to Investment, Legal and Regulatory Systems, Protection of Real and Intellectual Property Rights, Financial Sector, State-Owned Enterprises, Responsible Business Conduct, and Corruption.

Mining investment and exports, supported by improving mineral prices and increasing public investment, remain the main drivers of growth.

The DRC is endowed with exceptional natural resources, including mineral deposits (cobalt, copper, etc.), great hydroelectric potential, vast arable land, tremendous biodiversity, and the second largest tropical forest in the world.

Its strategic location in the heart of Africa makes it a potentially attractive market for U.S. companies.

Félix Antoine Tshisekedi Tshilombo’s ascension to the presidency in 2019 and his government’s commitment to attracting international, particularly U.S., investment have raised hopes in the business community for greater openness and transparency.

Reflecting progress on human rights, anti-corruption, and labor, the GDRC became eligible for preferential trade preferences under the Africa Growth and Opportunity Act (AGOA) in January 2021.

Tshisekedi created a Business Climate Unit (CCA), a presidential unit dedicated to addressing issues related to the business climate.

Overall investment is increasing, fueled by multilateral donor funding and private domestic and international financing.

The extractive sector has historically attracted the most foreign investment and continues to attract investor attention as global demand for DRC’s minerals grows.

The primary mineral sector is the country’s main source of revenue.

Exports of copper, cobalt, gold, coltan, diamonds, tin, and tungsten account for more than 95 percent of the DRC’s export revenue.

Overall, businesses in the DRC face numerous challenges, including poor infrastructure, a predatory tax system, and corruption.

While laws protecting investors are in place, the court system is often very slow to make decisions or follow the law, allowing many investment disputes to drag on for years.

The court system lacks basic digitalization to track cases, record decisions, or provide judges with resources needed to make well-informed decisions.

Judges, who earn low wages, are open to corrupt influences.

Concerns about the use of child labor in the artisanal mining of copper and cobalt have discouraged potential buyers.

U.S. government assistance programs to build capacity for labor inspection and enforcement are helping to address these concerns.

The GDRC’s announced priorities include increased efforts to combat corruption, electoral reform, a review of mining contracts signed under the Kabila regime, and improvements in mining revenue collection.

To access the ICS, visit the U.S. Department of State Investment Climate Statements website.

www.trade.gov/country-commercial-guides/democratic-republic-congo-investment-climate-statement



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That must have been the friday joke

Frank said:

View attachment 66789

Democratic Republic of the Congo - Investment Climate Statement

The U.S. Department of State’s Investment Climate Statements provide information on the business climates of more than 170 economies and are prepared by economic officers stationed in embassies and posts around the world.

They analyze a variety of economies that are or could be markets for U.S. businesses.

The Investment Climate Statements are also references for working with partner governments to create enabling business environments that are not only economically sound, but address issues of labor, human rights, responsible business conduct, and steps taken to combat corruption.

The reports cover topics including Openness to Investment, Legal and Regulatory Systems, Protection of Real and Intellectual Property Rights, Financial Sector, State-Owned Enterprises, Responsible Business Conduct, and Corruption.

Mining investment and exports, supported by improving mineral prices and increasing public investment, remain the main drivers of growth.

The DRC is endowed with exceptional natural resources, including mineral deposits (cobalt, copper, etc.), great hydroelectric potential, vast arable land, tremendous biodiversity, and the second largest tropical forest in the world.

Its strategic location in the heart of Africa makes it a potentially attractive market for U.S. companies.

Félix Antoine Tshisekedi Tshilombo’s ascension to the presidency in 2019 and his government’s commitment to attracting international, particularly U.S., investment have raised hopes in the business community for greater openness and transparency.

Reflecting progress on human rights, anti-corruption, and labor, the GDRC became eligible for preferential trade preferences under the Africa Growth and Opportunity Act (AGOA) in January 2021.

Tshisekedi created a Business Climate Unit (CCA), a presidential unit dedicated to addressing issues related to the business climate.

Overall investment is increasing, fueled by multilateral donor funding and private domestic and international financing.

The extractive sector has historically attracted the most foreign investment and continues to attract investor attention as global demand for DRC’s minerals grows.

The primary mineral sector is the country’s main source of revenue.

Exports of copper, cobalt, gold, coltan, diamonds, tin, and tungsten account for more than 95 percent of the DRC’s export revenue.

Overall, businesses in the DRC face numerous challenges, including poor infrastructure, a predatory tax system, and corruption.

While laws protecting investors are in place, the court system is often very slow to make decisions or follow the law, allowing many investment disputes to drag on for years.

The court system lacks basic digitalization to track cases, record decisions, or provide judges with resources needed to make well-informed decisions.

Judges, who earn low wages, are open to corrupt influences.

Concerns about the use of child labor in the artisanal mining of copper and cobalt have discouraged potential buyers.

U.S. government assistance programs to build capacity for labor inspection and enforcement are helping to address these concerns.

The GDRC’s announced priorities include increased efforts to combat corruption, electoral reform, a review of mining contracts signed under the Kabila regime, and improvements in mining revenue collection.

To access the ICS, visit the U.S. Department of State Investment Climate Statements website.

www.trade.gov/country-commercial-guides/democratic-republic-congo-investment-climate-statement



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Looks like Jose is onto something!!

FFS

cruiser51 said:

Looks like Jose is onto something!!

FFS

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Better have another GT and back to the music.

Snail walks into a bar and orders a drink, bartender says “we don’t serve your kind” and throws him out the door.

Two weeks later the same snail comes back and says to the bartender “what the hell was that for?”

POLITICSSERBIA

EU, Serbia sign lithium deal as clean tech race speeds up​

Rosie Birchard
13 hours ago13 hours ago
The EU wants to work with Serbia to kick-start development of lithium supply chains. The critical mineral is needed to power clean technology, but is proving controversial inside Serbia.




Back row second from left RIO's CEO

German Chancellor Olaf Scholz met with his Serbian counterpart to ink a deal designed to kick-start lithium battery production inside SerbiaImage: Darko Vojinovic/AP Photo/picture alliance
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The European Union (EU) is looking for lithium to power its transition away from fossil fuels and help it compete in the global race for clean technology. Over the past three yearsm the bloc has been on a self-styled "raw material diplomacy" mission, inking resource deals with 13 countries including Canada, Ukraine, Kazakhstan, Rwanda, Argentina and Namibia. Now, the EU has a new name to add to the list: Serbia.
The Balkan country is more often at odds with the EU than on the same page. It’s kept close ties with Russia and China, and resisted Brussels’ longstanding expectation that aspirant EU members like Serbia replicate EU sanctions on Moscow over its invasion of Ukraine.
But on Friday when Serbian President Aleksandar Vucic stood side-by-side with German Chancellor Olaf Scholz and European Commission Vice President Maros Sefcovic to announce a new "strategic partnership" covering raw materials, battery supply chains and electric vehicles, those foreign policy differences were swiftly swept aside.
"We are meeting here on a historic day, a historic opportunity for Serbia, for the European Union, and clear proof that we are already living in the era of clean tech," Sefcovic told reporters in the Serbian capital. "This will open the door to the largest foreign direct investment in Serbia's history," he said.
That promise of an economic boost may fall short for many Serbians though, amid fierce debate within the country over who has the right to dig for lithium where, and at what cost.

Lithium is used in batteries for electric vehicles, with EU demand expected to jump over the coming yearsImage: John Walton/PA Wire/picture alliance

Why is lithium so important?​

The newly signed memorandum of understanding will not kick-start production right away — instead Serbia and the EU plan to draw up a roadmap by the end of the year to turn on-paper ideas like research cooperation and training schemes for technology workers into concrete actions.
But the drive behind the deal is clear: The EU needs lithium, and fast. It's used in batteries for electric cars, solar panels and wind turbines — the big hitters for a fossil fuel-free future.
Lithium demand for batteries in the EU is projected to jump twelve-fold between 2020 and 2030 according to the EU's Joint Research Centre — and Germany, Europe's car manufacturing powerhouse, has a particularly large appetite. EU laws banning most sales of new gasoline and diesel cars in the bloc from 2035 are also prompting a new need to ramp up production in alternative energy sources.

The EU wants to diversify sources of critical raw materials like lithiumImage: Petr David Josek/AP Photo/picture alliance

A race against China?​

For now, the bloc is far from self-sufficient. An EU official told DW that 79% of the bloc's processed lithium imports currently come from Chile, but when it comes to importing manufactured battery cells, the economic union remains reliant on China.
Since 2020, the EU has been rushing to decrease dependence on Beijing. Last year it unveiled a law designed to diversify suppliers of critical raw materials, including lithium, and boost homegrown production.
Now it's Serbia's turn. Tucked between a handful of EU member states including Hungary and Romania, the country could offer a convenient and closer-to-home supply chain start point for the crucial mineral. It's also believed to hold some of Europe's largest lithium reserves.

Environmental activists protest lithium mining in Serbia​

Inside Serbia, a battle over lithium mining rights is raging. Mass protests over environmental concerns prompted the government to bar mining giant Rio Tinto from starting extraction back in 2022. The ban was revoked this year after being deemed unconstitutional, and now the Serbian government says operations could begin in 2028.
Climate activists are not convinced, and many Serbian citizens remain unimpressed. "The EU might provide guarantees for the project, but we're destroying nature," one passerby on the streets of Belgrade told DW.
Opposition politician Savo Manojlovic had an even more pointed message for the German chancellor: "Olaf, leave our lithium!"

Governments and mining firm vow safe supply chains​

Scholz repeatedly stressed that high environmental standards would be baked into the new deal in Friday's press conference in Belgrade. "This is a project that is good because it will be developed in an environmentally compatible way," he stated.
A spokesperson for mining company Rio Tinto told DW that its new mining plans would be subject to "stringent environmental requirements in compliance with Serbia and EU regulations."
"This includes having to progress through an extended phase of legal environmental impact assessment and permitting procedures, as well as public consultations and updating the business valuation, before implementation of the project," the spokesperson said.

Skepticism in Serbia amid lithium-extraction deal with EU​

02:40

Can lithium help Serbia leap toward the EU?​

Serbia has been an official candidate for membership of the EU since 2012 and Sefcovic spoke directly to those aspirations after Friday's signing ceremony.
"We see you, and we want you in the European Union. Projects like this are just accelerating the whole process," he said.
But Stefan Vladisavljev, a researcher with the Belgrade-based Foundation BFPE for a Responsible Society said it is "not realistic to predict Serbia will become one of the next countries to join the EU" until some "burning issues" become "more clear."
Among the hot topics: the question of normalizing relations with Kosovo, which unilaterally declared independence from Serbia in 2008. Serbia does not recognize Kosovo's independence, nor do Russia, China and several EU members, who have been attempting to discourage Kosovo's membership in international bodies, such as the United Nations.
With no resolution in sight, Vladisavljev says Belgrade's road toward a seat at the table in Brussels remains "complex" and "burdened by issues of a geopolitical and domestic political nature."
Edited by: Maren Sass

Frank said:

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Felix in a recent interview in France said he is siding with China and Russia . So why is anyone surprised . Felix has distanced himself and handed Manono over to Cominere . Cominiere are criminals . Felix will be living in Europe in luxury by the time this sh1t gets through the legal system . C--t from Cominiere will be looking over his shoulder . Silly f--ker . Grub .

wombat74 said:

Felix in a recent interview in France said he is siding with China and Russia . So why is anyone surprised . Felix has distanced himself and handed Manono over to Cominere . Cominiere are criminals . Felix will be living in Europe in luxury by the time this sh1t gets through the legal system . C--t from Cominiere will be looking over his shoulder . Silly f--ker . Grub .

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Mate this is just the expected issues we would face in the region, if it makes you uncomfortable you can just sell your shares at any point during the journey. It’s not like management and the BOD, would use some kind of ASX hocus pocus to stop us from selling and ensure they get their pay checks for pointlessly spinning their wheels for years while this sits in the ground. Best BOD on the ASX! So many geological experts and mining logistics pros getting paid with our money this is a sure thing. They would never compromise shareholders like that, that would be the work of absolute scammers.

Pilsner bottling day…

TheCount said:

Pilsner bottling day…

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My doctor would tell me to drink more after I present him with such a sample.