CashKing
Regular
Mate I just climbed Perth’s bridge and zip lined off it for $99 , $25mill is taking the piss , 200k tops
even then for a bloody flagpole wtf..Oh i recommend the zip line for anyone in Perth with a spare $99
GLTAH
AVZ Discussion 2022
- Thread starter GazDix
- Start date
even then for a bloody flagpole wtf..Oh i recommend the zip line for anyone in Perth with a spare $99
GLTAH
Frank
Top 20
*To add,
Congo miner threatens to seize cobalt project from Chinese partner
The dispute between the current partners began around last August, when CMOC announced it would invest another $2.5 billion to more than double production at the mine.Gecamines officials questioned how it could achieve the huge increase without raising its reserve estimates, which would trigger royalty payments of $12 per ton, Ntambwe said.
Within weeks of CMOC’s announcement, Congo President Felix Tshisekedi formed a commission to examine the partnership and Gecamines soon followed with a lawsuit at the Lubumbashi commercial court.
In February, the court decided in Gecamines’ favor, ordering that Tenke Fungurume Mining SA should be run for at least six months by Ngoie, who has a PhD in geohydrology and previously worked for a number of mines in Congo including TFM.
Broken down
Congo’s government put the appointment on hold while the presidential commission tried to negotiate with CMOC, but talks have broken down again, according to Mwine, who is also coordinator of the commission.Ngoie said he is neither on the side of CMOC nor of Gecamines, and his concern was the health of the company.
“I am the church in the middle of the village,” he said. In addition to TFM’s bank accounts, Ngoie said he soon will control its exports.
“They don’t go by plane, they only go by road and one way or another, I’ll control that,” he said.
"I have the power to do that.”
Mwine says Gecamines has a right as a shareholder to block the project’s exports.
“Tactical arrangements can also be made at road level so that no TFM production can go out,” he said.
“We have a lot of options on the table and if they continue with this game, things will get harder.”
Copperbelt Katanga Mining - African Copperbelt's Top Mining News
African Copperbelt's Top Mining News
copperbeltkatangamining.com
“The challenges to be met in the mining sector of the DRC”,Willy Kitobo’s cry for the development of the mining sector
University professor, Willy Kitobo Samsoni, presented, on Friday June 17, 2022, in Kinshasa, the capital of the Democratic Republic of Congo, his new book entitled “the challenges to be met in the Mining sector of the Republic Democratic Republic of the Congo”.
This 239-page book indeed contains, for its author, a cry of alarm for the development of the mining sector of the Democratic Republic of Congo (DRC).
In front of media professionals, the Honorary Minister of Mines of the DRC indicated that this book has three missions, namely:
• List all the evils that plague the Mining sector for the exploitation of the ground and subsoil resources of the DRC;
• Identify the challenges to be met and sensitize the Congolese population, more particularly decision-makers and stakeholders in the sector, on the need to adopt good practices;
• Strictly apply the Mining Law to hope to achieve the objectives set by the legislators during the revision of the mining code of 2018.
In his presentation, Willy Kitobo Samsoni revealed that the mining resource potential of the Democratic Republic of Congo is very vast and varied.
This is poorly known, explored and exploited on less than 12% of the national territory.
It constitutes and will constitute by its valorization still for a long time the first source of the receipts of the State.
The author insisted on the need to adopt good practices and strictly apply the Mining Code to hope for real development in the Democratic Republic of Congo.
“In terms of mineral resources, energy resources, but also hydroelectricity, the DRC has a very significant potential that is often described as a geological scandal.
The valorization of this potential with a responsible management would make it possible to solve all its problems of electricity and economy in general.
In reality, this geological potential is poorly understood.
Since since the colonial era, research has only been carried out in depth on part of the national territory and private mining operators continue to discover interesting deposits until today, in particular Ivanhoé in the province of Lualaba. “, said Professor Willy Kitobo.
According to him, the history of the DRC’s mines shows that the exploration and exploitation of mineral resources began very early in the colonial era with the creation of State Portfolio companies such as Gécamines, the Miba, Sakima and Sodemiko.
It was with the bankruptcy of these Congolese state companies that the latter was pushed to liberalize the mining sector to acquire private investment, he said.
According to him, the new Mining Laws, in particular the 2002 Mining Code, and several private investors interested in mining have enabled the revival of mining activities in the country, this time with the creation of more than 60 mining companies.
Several years have passed and a new 2018 Mining Code was promulgated in March 2018.
This new Mining Code wanted to balance the mutual interests of the DRC and the private sector, review the social and environmental responsibilities of companies as well as push the country to emergence.
The failure of the DRC in the Mining sector
Although described by some as a geological scandal, the Democratic Republic of Congo (DRC) does not seem to benefit from its natural resources.
For Willy Kitobo Samsoni, the failure in the management of the DRC’s mining sector is largely attributable to the Congolese themselves.
For him, although the country has a legal arsenal in this sector, several laws suffer from lack of application.
“ Today, we tend to blame foreigners as the looters of our mineral resources and say that the mines do not benefit the country.
I think we have to relativize what we often say. In this sense, our failure to manage our mineral resources is shared.
Indeed, it is we who establish the Laws and decide on the granting of all mining and quarry rights to foreigners and nationals.
We are still the ones who organize and control all mining activities, but unfortunately, all good laws always find flaws in their application. “ , he argued.
Willy Kitobo indicated that when one reads the motivations for the revision of the 2018 Mining Code, one understands that most of the evils of the mining sector were already identified, but neither the political authorities nor the mining authorities want to change things completely.
This work ” the challenges to be met in the mining sector of the DRC” is for the author a cry of alarm to make the Congolese understand that they are the only ones responsible for all the bad policy which blocks the development of the Mining sector of the DRC and this prevents the Congolese population from taking advantage of its wealth of the soil and subsoil.
In addition, the author indicates that this text, although complex in the eyes of many Congolese, not having a minimum of knowledge in the field of Mines, contains details accessible to a broader and multidisciplinary public.
Professor Willy Kitobo Samsoni’s 239-page book is divided into five (5) chapters.
The first chapter deals with the problems and the challenges of geological research for a better valorization of the important mining potential of the DRC.
This chapter focuses readers on the lack of knowledge of the country’s mineral resources and the difficulties encountered by the State to fully play its main role in the Mining sector as set out in Article 8 of the Mining Law, i.e. that is, to promote and regulate the development of the mining sector, to ensure the development of the mineral substances of which it is the owner by appealing in particular to private initiative in accordance with the provisions of the Mining Code and to improve the geological information of the national territory.
This first part of the book also evokes the coverage rate of mining activities to show the reader how, since the advent of the independence of the DRC, mining has been developed on only about 12% of the territory. national and this, on the basis of geological indices discovered since the colonial era.
The second chapter of this book is based on the administration of the Mining Code of the Democratic Republic of Congo and the governance of the mining sector.
This chapter discusses stakeholders in the mining sector in the country who play an important role in the administration of the Mining Law for the success of the activities of the mining sector and the mobilization of revenues from this sector.
This same chapter covers the problems and challenges encountered in the management of the domain and mining title as well as all the problems encountered by the mining services during the monitoring and control of mining activities.
The third chapter concerns industrial mining itself, its importance in the economy of the country, the evils and the challenges to be met.
The penultimate chapter of this book focuses on artisanal mining, its importance in the social life of the Congolese population, the many evils that characterize it as well as the challenges to be met in order to solve this problem.
The fifth and last chapter takes up the problems and challenges to be met in the Mining sector to protect the environment.
This same chapter focuses on the problems and challenges encountered in applying the provisions of the Mining Law on corporate social responsibility (CSR).
Copperbelt Katanga Mining - African Copperbelt's Top Mining News
African Copperbelt's Top Mining News
copperbeltkatangamining.com
Mr Inappropriate
Regular
If I recall correctly Jag said he's putting his left cracker on the line that we don't go to arbitration at all. I hope he's right but I have an ugly feeling he shall hence forth be known as 'One Nut Jag'
I’m mentally preparing for another hit when it starts trading again, regardless of the clarity of the announcement. It’s not intel or analysis - just a gut feel. Anything even or above will be a win in my view.
CashKing
Regular
Hard one to tell because shorts will cover ? And stuck T2 Traders & traders will sell ? No sell off tax losses because that will enter next years tax so no point probably more a win in the next year better off holding imo, so it’s going to be very interesting
GLTAH
John25
Regular
Will walk over bridge Sunday to watch State of Origin …to old to Zip anywhereMate I just climbed Perth’s bridge and zip lined off it for $99 , $25mill is taking the piss , 200k tops
Oh i recommend the zip line for anyone in Perth with a spare $99
GLTAH
Let's hope it doesn't get to that! If this stalls things then timelines are gonna be pushed back and we certainly don't need that! Imo
Last edited:
obe wan
Regular
Supreme Court….. why do you mention that
BRICK
Regular
yeah its gotta be something to do with bracing the flagpole on the existing structure or something?Mate I just climbed Perth’s bridge and zip lined off it for $99 , $25mill is taking the piss , 200k tops
Oh i recommend the zip line for anyone in Perth with a spare $99
GLTAH
I hear that LGAs and governments have scrapped project contingencies because prices are blowing out so much. One guy suggested that they are allowing for a 100% contingency on projects. Our quantity surveyors are very nervous pricing projects.
Good luck trying to build anything within budget for a while!
FARK
DiscoDanNZ
Regular
I'm really hoping for something from high levels of the DRC government to take with us to arbitration, something similar to the IGF report but with Felix's signature would be ideal IMO
Can they remain suspended due to arbitration alone ? I've held stocks in the past that had ownership disputes dragged through courts and after an initial trading halt recommenced trading . KDR is one example . MZN claimed KDR agreed to sell the Mt Holland deposit to them for $100k in a series of email exchanges .
D
Deleted member 1612
Guest
Regardless I’d the outcome I think we’d be lucky not to take a hit considering how far the market has come down. Surely we can’t avoid it completely. Doesn’t matter if you’re a long term holder and I’d be bloody happy if this was the one stock that held up through this but I think that’s fanciful thinking…
Retrobyte
Hates a beer
The top of the arch is bloody high - I climbed up there to the flagpoles one night with some mates when I was at uni in the early 80s, before organised bridge walks with safety harnesses and the like were a thing. I had a few under my belt, which was good, because I wouldn't have climbed it sober. We had to climb a bunch of narrow stairways and ladders - in most places there was a knee high wire rope as a "fence", but that was it. One of my mates' dad was a maintenance worker on the bridge so my mate knew where the key was hidden to open the gates that block access to the stairways and ladders.
But I digress - there's a lot of wind at that height (150m) so a very long flagpole will need to be a very solid piece of kit (the flags are 9m long so are like a massive sail in that wind). And then the question is how to get it up there and attach it - they won't do it while the bridge is open, for safety reasons with road traffic, trains, boats and pedestrians underneath - so maybe part of the cost is the cost of closing the bridge for a period of time to get the work done - that will entail traffic control, policing, security, re-routing trains or having buses replace trains etc. The pole would need to be delivered and placed using choppers I reckon.
But, yeah, $25m is hard to fathom even taking all that into account.
DiscoDanNZ
Regular
The amount being spent doesn't surpise me in the slightest as the NSW government doesn't mind throwing money at stuff, just look at the light rail through the CBD. It's an absolute waste of time.
When it was all over the news about how far behind schedule it was I was doing a fitout high up in the World Square building and counted 5 people 'working' over 7 blocks and that was 2 groups of 2 doing nothing but chat and 1 guy leaning on a broom
Remark
Top 20
I was wondering what that was
I certainly hope Willy Kitobi Samsoni runs the ruler over the AVZ / Zijin shit show, just like he is doing with Gecamine........*To add,
Congo miner threatens to seize cobalt project from Chinese partner
The dispute between the current partners began around last August, when CMOC announced it would invest another $2.5 billion to more than double production at the mine.
Gecamines officials questioned how it could achieve the huge increase without raising its reserve estimates, which would trigger royalty payments of $12 per ton, Ntambwe said.
Within weeks of CMOC’s announcement, Congo President Felix Tshisekedi formed a commission to examine the partnership and Gecamines soon followed with a lawsuit at the Lubumbashi commercial court.
In February, the court decided in Gecamines’ favor, ordering that Tenke Fungurume Mining SA should be run for at least six months by Ngoie, who has a PhD in geohydrology and previously worked for a number of mines in Congo including TFM.
Broken down
Congo’s government put the appointment on hold while the presidential commission tried to negotiate with CMOC, but talks have broken down again, according to Mwine, who is also coordinator of the commission.
Ngoie said he is neither on the side of CMOC nor of Gecamines, and his concern was the health of the company.
“I am the church in the middle of the village,” he said. In addition to TFM’s bank accounts, Ngoie said he soon will control its exports.
“They don’t go by plane, they only go by road and one way or another, I’ll control that,” he said.
"I have the power to do that.”
Mwine says Gecamines has a right as a shareholder to block the project’s exports.
“Tactical arrangements can also be made at road level so that no TFM production can go out,” he said.
“We have a lot of options on the table and if they continue with this game, things will get harder.”
Copperbelt Katanga Mining - African Copperbelt's Top Mining News
African Copperbelt's Top Mining News
“The challenges to be met in the mining sector of the DRC”,Willy Kitobo’s cry for the development of the mining sector
University professor, Willy Kitobo Samsoni, presented, on Friday June 17, 2022, in Kinshasa, the capital of the Democratic Republic of Congo, his new book entitled “the challenges to be met in the Mining sector of the Republic Democratic Republic of the Congo”.
This 239-page book indeed contains, for its author, a cry of alarm for the development of the mining sector of the Democratic Republic of Congo (DRC).
In front of media professionals, the Honorary Minister of Mines of the DRC indicated that this book has three missions, namely:
• List all the evils that plague the Mining sector for the exploitation of the ground and subsoil resources of the DRC;
• Identify the challenges to be met and sensitize the Congolese population, more particularly decision-makers and stakeholders in the sector, on the need to adopt good practices;
• Strictly apply the Mining Law to hope to achieve the objectives set by the legislators during the revision of the mining code of 2018.
In his presentation, Willy Kitobo Samsoni revealed that the mining resource potential of the Democratic Republic of Congo is very vast and varied.
This is poorly known, explored and exploited on less than 12% of the national territory.
It constitutes and will constitute by its valorization still for a long time the first source of the receipts of the State.
The author insisted on the need to adopt good practices and strictly apply the Mining Code to hope for real development in the Democratic Republic of Congo.
“In terms of mineral resources, energy resources, but also hydroelectricity, the DRC has a very significant potential that is often described as a geological scandal.
The valorization of this potential with a responsible management would make it possible to solve all its problems of electricity and economy in general.
In reality, this geological potential is poorly understood.
Since since the colonial era, research has only been carried out in depth on part of the national territory and private mining operators continue to discover interesting deposits until today, in particular Ivanhoé in the province of Lualaba. “, said Professor Willy Kitobo.
According to him, the history of the DRC’s mines shows that the exploration and exploitation of mineral resources began very early in the colonial era with the creation of State Portfolio companies such as Gécamines, the Miba, Sakima and Sodemiko.
It was with the bankruptcy of these Congolese state companies that the latter was pushed to liberalize the mining sector to acquire private investment, he said.
According to him, the new Mining Laws, in particular the 2002 Mining Code, and several private investors interested in mining have enabled the revival of mining activities in the country, this time with the creation of more than 60 mining companies.
Several years have passed and a new 2018 Mining Code was promulgated in March 2018.
This new Mining Code wanted to balance the mutual interests of the DRC and the private sector, review the social and environmental responsibilities of companies as well as push the country to emergence.
The failure of the DRC in the Mining sector
Although described by some as a geological scandal, the Democratic Republic of Congo (DRC) does not seem to benefit from its natural resources.
For Willy Kitobo Samsoni, the failure in the management of the DRC’s mining sector is largely attributable to the Congolese themselves.
For him, although the country has a legal arsenal in this sector, several laws suffer from lack of application.
“ Today, we tend to blame foreigners as the looters of our mineral resources and say that the mines do not benefit the country.
I think we have to relativize what we often say. In this sense, our failure to manage our mineral resources is shared.
Indeed, it is we who establish the Laws and decide on the granting of all mining and quarry rights to foreigners and nationals.
We are still the ones who organize and control all mining activities, but unfortunately, all good laws always find flaws in their application. “ , he argued.
Willy Kitobo indicated that when one reads the motivations for the revision of the 2018 Mining Code, one understands that most of the evils of the mining sector were already identified, but neither the political authorities nor the mining authorities want to change things completely.
This work ” the challenges to be met in the mining sector of the DRC” is for the author a cry of alarm to make the Congolese understand that they are the only ones responsible for all the bad policy which blocks the development of the Mining sector of the DRC and this prevents the Congolese population from taking advantage of its wealth of the soil and subsoil.
In addition, the author indicates that this text, although complex in the eyes of many Congolese, not having a minimum of knowledge in the field of Mines, contains details accessible to a broader and multidisciplinary public.
Professor Willy Kitobo Samsoni’s 239-page book is divided into five (5) chapters.
The first chapter deals with the problems and the challenges of geological research for a better valorization of the important mining potential of the DRC.
This chapter focuses readers on the lack of knowledge of the country’s mineral resources and the difficulties encountered by the State to fully play its main role in the Mining sector as set out in Article 8 of the Mining Law, i.e. that is, to promote and regulate the development of the mining sector, to ensure the development of the mineral substances of which it is the owner by appealing in particular to private initiative in accordance with the provisions of the Mining Code and to improve the geological information of the national territory.
This first part of the book also evokes the coverage rate of mining activities to show the reader how, since the advent of the independence of the DRC, mining has been developed on only about 12% of the territory. national and this, on the basis of geological indices discovered since the colonial era.
The second chapter of this book is based on the administration of the Mining Code of the Democratic Republic of Congo and the governance of the mining sector.
This chapter discusses stakeholders in the mining sector in the country who play an important role in the administration of the Mining Law for the success of the activities of the mining sector and the mobilization of revenues from this sector.
This same chapter covers the problems and challenges encountered in the management of the domain and mining title as well as all the problems encountered by the mining services during the monitoring and control of mining activities.
The third chapter concerns industrial mining itself, its importance in the economy of the country, the evils and the challenges to be met.
The penultimate chapter of this book focuses on artisanal mining, its importance in the social life of the Congolese population, the many evils that characterize it as well as the challenges to be met in order to solve this problem.
The fifth and last chapter takes up the problems and challenges to be met in the Mining sector to protect the environment.
This same chapter focuses on the problems and challenges encountered in applying the provisions of the Mining Law on corporate social responsibility (CSR).
Copperbelt Katanga Mining - African Copperbelt's Top Mining News
African Copperbelt's Top Mining News
View attachment 9748
I wonder whether he is linked with the IGF report ?
That article does provide me with hope that the DRC is finally wising up !
imo
Dijon101
Regular
I witnessed one of the trams engines "exploded" absolute shit show..The amount being spent doesn't surpise me in the slightest as the NSW government doesn't mind throwing money at stuff, just look at the light rail through the CBD. It's an absolute waste of time.
When it was all over the news about how far behind schedule it was I was doing a fitout high up in the World Square building and counted 5 people 'working' over 7 blocks and that was 2 groups of 2 doing nothing but chat and 1 guy leaning on a broom
Same with the new manly ferry's from China..
Dodgy chinese ferrys that are alrady breaking down and are not suitable for the route.
Slow news day I must say.. sorry @zeeb0t not much else going on with AVZ
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