It’s Official! My head is now completely done in by the absolute circus this has become.
While I totally get the silence from Nigel and Co around not giving away any info on
“how“ they are attempting to combat these external threats, I cannot for the life of me come up with a reason why we cannot be told “what” these threats are or what we are being accused of. However I am now of the belief that we as shareholders are entitled to something a little more substantial than a couple of hollow paragraphs announcing another extension. Just my opinion and absolutely born out of frustration.
I am a big fan of Nigel and the BOD. Given what we are now seeing it is remarkable they have been even able to get this project to this
point.
Thank you to all who take the time to post their research on this site and keep us in the loop as much as is possible.
Good luck to all.
Thank you to all who take the time to post their research on this site and keep us in the loop as much as is possible.
*Fyi, Did you see where,
The DRC’s decree of creating the Congolese Battery Council has been adopted
The government of the Democratic Republic of Congo will be equipped in the coming days with a new public establishment called the Congolese Battery Council.
The draft decree on the creation, organization and operation of this public institution was adopted at the 71st meeting of the Council of Ministers.
Presented by the Ministry of Industry, Julien Paluku, who pointed out that the Congolese Battery Council is the technical structure supposed to follow and evaluate the materialization of the commitments of the President of the Republic within the framework of the execution of these ambitious projects of the competitive electric battery value chain.
“This structure provides the technical elements necessary for the government to ensure the supply chain of the minerals that go into the manufacture of the batteries. The Congolese Battery Council will collaborate with the Battery Councils of other States according to the cooperation agreements between said States and the DRC”, reports the minutes of the meeting held on Friday, September 30, 2022.
Remember, the DRC and Zambia intend, through a joint project, to develop their reserves of lithium, one of the essential components in the manufacture of electric batteries.
During a working visit to Lusaka, the Zambian capital, Felix Tshisekedi and his Zambian counterpart, Hakainde Hichilema, signed a memorandum of understanding on the creation of a common value chain for the battery and power sectors. ‘clean energy.
Through this agreement, Zambia and the DRC decide that the two countries agree to establish a DRC-Zambia Battery Council to oversee the implementation of the cooperation agreement for the value chain of electric car batteries for the benefit of the two countries.
copperbeltkatangamining
EV makers must partner with miners to secure key metals
A key lithium producer in Australia, the world’s top supplier, is urging electric car manufacturers and battery makers to become its partners in new refinery projects, arguing their direct financial backing is vital to avoid shortfalls of the material that’s crucial to the clean energy transition.
www.mining.com/web/ev-makers-must-partner-with-miners-to-secure-key-metals/
The DRC mining sector represented 99.3% of the country’s exports and contributed 24.79% to jobs in 2019(report)
The mining sector of the Democratic Republic of Congo remains, to this day, the key sector of the Congolese national economy.
In 2019, exports from this sector were estimated at 99.3% of the country’s total exports and contributed 24.79% in jobs in 2019, informs a report by the non-governmental organization ” Makuta ya Maendeleo” on the Mining Fund for Future Generations (FOMIN).
Considered as one of the richest countries in the world in natural resources, in particular mines, the Democratic Republic of Congo (DRC) is the world’s leading producer of cobalt, the leading African producer of copper and has significant diamond deposits. , gold, coltan, zinc, lithium, uranium, and manganese.
Despite the strong growth in mining production recorded over the past fifteen years following the liberalization of the mining sector in the early 2000s, the mining sector has not yet contributed significantly to the social and economic development of the Congolese populations, notes this report.
Deficient governance, in particular, the inequitable distribution and use of revenues from this sector between the central government, local entities and local communities are among the factors underlying this situation.
The country has also not put in place a mechanism that can promote the sharing of mining revenues with future generations.
In March 2018, the revised Mining Code tried to remedy some of these shortcomings by providing for the direct payment of a portion of the mining royalty to the provinces and local entities, and the constitution of a Sovereign Fund dedicated to future generations called Fonds Mining for Future Generations (FOMIN).
The Mining Fund for future generations thus established will have to be fed by the 10% quota of the mining royalty.
However, the assigned missions and the organic structure as well as the governance of FOMIN are the subject of controversy within the Congolese Government and other stakeholders including civil society organizations and the private sector.
This situation reinforces the skepticism of public opinion, which fears that the existing structure and the deficient rules of governance put in place by the Decree establishing FOMIN will hinder the ambition of the DRC to effectively transfer part of the revenues from the mining sector. future generations as is the case with many other similar Funds set up by resource-rich countries struggling to achieve their ambitions.
copperbeltkatangamining
Race is on for global lithium mining domination
While other battery metals including cobalt and nickel are down significantly from highs hit earlier this year, lithium continues to sell at record prices with carbonate prices doubling this year alone.
Companies and country’s are scrambling to cash in: Australia overtook Chile as the dominant supplier of lithium five years ago, but both countries continue to attract investment.
Chile’s state-owned copper giant Codelco has joined the fray while a recent conference in Australia bragged of an “insatiable appetite” for the white metal.
State-owned copper producer in Mexico, which in April
nationalized the industry, last month estimated the vast deposit located in northern Sonora state
could be worth as much as 12 trillion pesos, or $600 billion.
In May, Argentina’s government said it
expected investments in the sector worth $4.2 billion over the next five years, which could be
an underestimate.
Congo-Kinshasa, already the dominant player in cobalt, is now jumping into the lithium market with both feet, while Chinese investors are also investing heavily in Zimbabwean projects.
Mining projects in the US and Europe are still fighting for a social licence to operate.
The massive and
unique Jadar project in Serbia is stalled due to concerted environmental opposition, while the Thacker Pass project in Nevada is
dealing with pushback by a local native American tribe and ranchers.
The animated graph below shows the world’s top lithium producing countries since 2012 and forecasts the winners in the race over the next decade, based on forecasts by Fitch Solutions, a country risk and industry research company.
www.mining.com/animation-race-is-on-for-global-lithium-mining-domination/
Food for thought on the Long and Winding Road to Mining Manono
Your Welcome
Cheers
Frank
