Skip to main content

Chinese firm to invest $147m in copper project in DRC.

Zhejiang Huayou Cobalt Company of China, will invest $147.2 million to build a copper project in Democratic Republic of Congo (DRC), as it extends the exploration of its mining assets in the country, the company said in a filing to the Shanghai stock exchange on Tuesday.

The project will be located in the Lukuni region in the south of DRC, and will have annual electro-deposited copper production capacity of 30,000 tonnes.

Electro-deposited copper is a raw material widely used in the electrical equipment and machine manufacturing sectors.

Huayou has built two cobalt refineries in the Luiswishi region of DRC after buying copper-cobalt mineral rights from La Generale des Carrieres et des Mines in 2015.

The new copper project is expected to launch by September 2019, the company said in the filing, but it also warned it still needs approvals from Chinese authorities.

The investment will be made through its subsidiary Congo DongFang International Mining (CDM), which mainly sources copper and cobalt from DRC.

Comments

Popular posts from this blog

How to Host a Website for Free From Your PC or Laptop.

Why pay for a web hosting service when your old computer can do the same thing? Learn how to self-host your site. If you're planning to launch a website but don't want to pay recurring monthly or annual hosting fees, you can use any old laptop or desktop PC to host a website for free. It's a great way to utilize your old system instead of throwing it away. In this guide, we will install and set up services on our 10-year-old laptop to host a WordPress, Joomla, or custom HTML or PHP-based website with a free SSL certificate. MAKEUSEOF VIDEO OF THE DAY Things You Will Need to Host a Website Following are the pre-requisites to host a website for free from home with just your computer: An old laptop or PC running Ubuntu Server. A registered domain name for your website Ethernet cable to connect the laptop or PC to router for reliable and fast connection Step 1: Update and Upgrade the Packages After  installing Ubuntu Server on your computer , execute the following c...

We Bring You Brief Series of Sanctions Against Uganda Government Officials.

📸: Gen Abel Kandiho. On 9-December-2021, USA slapped sanctions against the then CMI Commander Gen Abel Kandiho. 📸: Gen Kale Kayihura. On 9-December-2022, UK slapped sanctions against former Police Boss Gen Kale Kayihura. 📸: Commissioner General of Prisons, Johnson Byabashaija. Again on this 4-December-2023, the same USA has slapped sanctions against Uganda Prisons Commander Johnson Byabashaija over alleged torture and human rights abuses in Prisons across Uganda. We ask, has USA and UK made December as an LCM to slap sanctions against high ranking government officials in Uganda even when the sanctions just remain on paper without deeper investigations to ascertain logical conclusions or remedy to that effect ?. #iip_updates  #Information_is_Power  #we_inform_the_uninformed

UGANDA ELECTORAL COMMISSION TO ELIMINATE NATIONAL IDENTIFICATION CARDS (IDs) FOR 2021 GENERAL ELECTIONS.

The elimination of using National IDs (Ndagamuntu) for the 2021 elections should not have come as a surprise. One would be very NAIVE to think that Bobi Wine has not prepared for this in his Business Plan under the RISK section. It is public knowledge that our EC is not independent.  It is also public knowledge that Military Dictator Yoweri Museveni will never lose an election. What stunned us this morning is when we noticed that on social media, people were mocking Bobi with his "get your Ndagamuntu".  We are on record for saying to all Our readers that the National ID is like Apartheid in South Africa. Students of History would know how those IDs were being used to arrest people, deny them jobs, deny them basic services. Consequently, Bobi was not wrong and will never be wrong on the Ndagamuntu. Except the ones attacking him and mocking him forget that in Uganda, now, no National ID (Ndagamuntu), no service.  If you have not been denied registering your child i...