I'd say this is article is relevant to AVZ, albeit indirectly
La Générale des Carrières et des Mines a une nouvelle équipe. Le Chef de l'État Félix Tshisekedi a procédé à la nomination, par ordonnances présidentielles lues lundi 27 février dans la soirée sur la télévision nationale, de nouveaux animateurs de l'Eldorado congolais qui peine toujours à...
actu7.cd
*Fyi Fox, Speaking of Gecamines, I see where,
Gécamines: 14 years without union elections
The Gécamines union delegation singled out for its longevity.
Since 2008, no union elections have been organized in this company, the current union delegation has been in operation for 14 years.
What the platform of organizations for the promotion and defense of economic and social rights denounces.
In a statement published recently, they recommend compliance with the labor code in the DRC.
In this very virulent press release, the platform accuses the union delegation of doing its best to extend their mandate.
For Jean-Pierre Muteba, coordinator of the Nouvelle Dynamique Syndicale, this is against the law.
”The labor code provides that every three years we organize elections.
Each time the supervising minister signs a decree for the organization of elections, the trade unions which are represented at Gécamines make negotiations.
Thus, each time, this company escapes the elections.
Because the ministry signs a decree for Gécamines to be exempt from the elections, ”he said.
Jean-Pierre Muteba also accuses this union delegation of not playing its role.
The organization of the elections falls to the government
The DRC labor code is clear.
Article 257 provides that: “The term of office of delegates is three years renewable”.
However, Kasongo Mabwisha, president of the Gécamines trade union delegation, explains that the organization of trade union elections is not the responsibility of Gécamines.
“The organization of trade union elections falls to the government via the Ministry of Employment, Labor and Social Welfare”, he says.
Nevertheless, he recognizes that it has indeed been 14 years since elections have been organized in this company.
A subject that does not scare him or his union.
They are just waiting for the schedule to be established by the ministry.
It must be said that since September 3, 2022, the Minister of Employment, Labor and Social Welfare, Claudine Ndusi M'kembe, has triggered preparations for elections in companies.
In a letter, she invited the National Intersyndicale of Congo to work for the development of the calendar of the trade union elections.
This timeline is for the 2022 to 2025 election cycle.
Perhaps for this cycle, the ministry will also organize the elections in this state enterprise.
Gécamines: Tshisekedi appoints a new team "to try to resuscitate the company"
The general of careers and mines has a new team.
Head of State Félix Tshisekedi proceeded to the appointment, by presidential ordinances read Monday, February 27 in the evening on national television, new animators of the Congolese Eldorado who is still struggling to take off.
From now on, the functions of chairman of the board of directors (PCA) of Gecamines once occupied by Alphonse Kaputo since the end of 2021, will be provided by Guy Robert Lukamakuzi.
He will have the general manager Placide Kala Basidiwa.
In addition, Jacques Masungu and Ludovic Monga will respectively exercise the functions of Deputy Deputy Directors in charge of Finance and Mines.
At the same time, the members of the board of directors were also renewed.
Nelly Kiwewa, Muyumba, Florence Kyungu, Léon Kabena and desired Mbay will compose this team
It must be said that the former PCA of the Gecamines Alphonse Kaputo will have only been year and a few months before being replaced, while his predecessor, Albert Yuma reigned at least eleven (11) years at the head of this Congolese mining company.
Moreover, in this period from 2010 to 2021, the General Inspectorate of Finance (IGF) conducted surveys that revealed a "calamitous management" of the company.
In its synthesis, the IGF noted irregularities in the transfers of mining assets "through partnership contracts", the lack of transparency in the signing of contracts, prejudices in the assignments of rights.
It also pinned the failure to pay taxes due to the public treasury, the presumption of embezzlement of public funds as well as the sale of the real estate of the company ...
By appointing new leaders, Félix Tshisekedi "tries to resuscitate the company to, among other things, revitalize the Congolese economy", according to analysts.
A $1.5 billion hoard of copper and cobalt is piling up in Congo
A growing pile of copper and cobalt worth about $1.5 billion is stranded in the Democratic Republic of Congo, caught up in a standoff over the future of one of the world’s biggest battery-metal mines.
The huge stash of metal is owned by China’s CMOC Group Ltd, which is
locked in a dispute with its Congolese state-owned partner over royalty payments.
While its exports were blocked in mid-July, CMOC’s Tenke Fungurume mine has kept running at close to full capacity, simply stockpiling the extra metal until it can resume shipments, according to people familiar with the matter.
The logjam is a stark reminder of the vulnerabilities in electric-vehicle supply chains, which rely heavily on a small clutch of mines in a handful of countries — in the case of cobalt, Congo is by far the largest supplier.
Battery metal prices have become increasingly volatile as producers struggle to match output to demand, creating headaches for automakers on the upswings, and miners on the way down.
The Tenke Fungurume stockpile raises the threat of more sharp swings to come.
By now, there are about 120,000 tons of copper and around 12,500 tons of cobalt stuck waiting to leave the country, according to people familiar with the matter and
Bloomberg calculations.
The copper accounts for the bulk of the value, at about $1.1 billion at spot prices, but it only represents about 7% of total global monthly production, and is unlikely to affect international prices when it does hit the market.
For cobalt, however, the implications could be seismic.
Tenke Fungurume accounts for about 15% of global supply — a larger share of production than the 10% slice of global oil output controlled by Saudi Arabia.
Surprisingly, the market has managed quite well without Tenke’s cobalt, because demand for use in electronics has fallen and output elsewhere is increasing, sending prices tumbling more than 60% from a peak last year.
The eventual release of the CMOC stockpile could drive them much lower still.
At the heart of the issue is state miner Gecamines’ claim that CMOC has been lying about its mineral reserves and owes the company $7.6 billion in royalties and interest.
The pair also need to negotiate a sales contract to set the terms for future exports.
Part of the reason that the stockpile has become so large is that CMOC has remained hopeful throughout the dispute that a resolution was close, which kept it from dialing back activity at the site, according to people familiar with the operation.
Yet a deal has so far proven elusive.
Every day, roughly 500 tons of copper and 50 tons of cobalt are being added to the stash of metal, creating a growing logistical and commercial headache for CMOC and its partners.
And when the stockpile does eventually start to move, it’s likely to spark a scramble for trucks in the region, driving up freight costs and adding to the chronic logistical logjams at the Congolese border.
CMOC did not reply to an email seeking comment. Gecamines Deputy Chief Executive Officer Leon Mwine Kabiena, who oversees the Tenke mine portfolio for the Lubumbashi-based company, did not immediately provide comment when contacted by
Bloomberg on email.
The Tenke stockpile has cast a long shadow over the cobalt market, turning once-firm bulls like top producer Glencore Plc into reluctant pessimists.
Still, CMOC’s role in the market and deep pockets mean it will have little incentive to dump the metal.
The Chinese company has a market capitalization of about $17 billion, and said last year that Contemporary Amperex Technology Co. Ltd. — the world’s largest EV battery-maker — had agreed to buy a 25% stake.
It also owns IXM, a major metals trading house.
“CMOC have had the balance sheet to operate the mine and stockpile the material throughout this period, so I don’t think they’ll be under pressure to offload it overnight in a fire sale,” said Caspar Rawles, chief data officer at Benchmark Mineral Intelligence, which estimates the size of the cobalt stockpile at 10,000 to 12,000 tons.
“But at some point they will have to sell, and there’s more than enough material around already.”
mining.com
