The 2018 DRC Mining Week conference and exhibition, which was held at the Grand Karavia hotel on 13 – 15 June 2018, celebrated significant successes, with the biggest number of exhibitions and delegates ever!
Key takeaways on the new Mining Code
- Seven mining companies, known locally as the ‘G7’, argued that the new Mining Code violates the terms of the previous version, which provided for a 10-year stability clause after any tax changes
- Randgold Resources’ CEO Mark Bristow stated that, while the potential for gold in the DRC was enormous, the lack of infrastructure was far from being the only obstacle to the development of the gold sector in the country
- Ivanhoe Mines’ DRC operations MD Louis Watum confirmed that the DRC could become a leader in global copper production as the increase in quantities of red metal that will be on the market in the future will unlikely come from Chile. “The potential for growth is much greater in the DRC, but uncertainty over laws and regulations could lead to mining companies thinking twice before coming to invest in the country,” he emphasised
- André Kapanga DG of Tenke Fungurume stated that if the DRC is full of cobalt, used in smartphones, electric cars and batteries, three booming industries, the Congolese State must respect the agreements that it signed if it does not want to drive away potential mining investors
- For Boris Kamstra CEO of Alpahmin, the rules of the new Mining Code are murky
- Jason Brewer, MD of Force Commodities was cautiously optimistic
- Subcontractors continue to fear for their survival: The new Congolese Mining Code was not the only law to cause concern amongst the DRC Mining Week delegates. The 2017 law on subcontracting, whose implementing decrees were published a few days before the start of the mining week, is quite protectionist.
This article first appeared in Mining Review Africa Issue 8 2018
So why do companies attend DRC Mining Week?
Banro Corporation: To meet and interact with other miners to share and discuss shared issues – especially at a time of the implementation of new mining policy
MMG (Kinsevere): To share information and discuss issues with DRC officials and decision makers as to the future of mining in the DRC
Roytec Global / Setchem: The event is the ideal platform to interact with existing clients and search for local agents
The South African Capital Equipment Export Council: To explore possibilities for South African professional services companies and exporters of capital goods in mining projects in the DRC as well as ancillary infrastructure
Midlands Metals: To interface and linked with the DRC export market for grinding media, crushing and milling machinery for the mining industry and manhole covers for the construction industry.
Lamcast Refractories: To advertise our products and services for the export market and to grow our market base outside of Zimbabwe by networking with potential customers
ZESA Enterprises: To link up with small-scale miners and prospective agents, electrical contractors and large-scale miners to market its products and services
AEL (DRC SARL): To present our new value proposition “Intelliblast” to its mining partners
Axis House: To network with existing and new clients and showcas its latest technology and other offerings to the DRC mining market
Herbert Smith Freehills: To explore new opportunities to use its extensive expertise in the African mining sector and understanding of the local market to assist mining companies to achieve their commercial objectives in the DRC
KPMG: To network and interact with key mining operators to discuss legislation affecting mining investment in the DRC
MineSense: To fulfil its objective of partnering with producers of copper, cobalt, nickel, zinc and iron-ore producers with operations throughout the DRC and Africa
Rema Tip Top: To seek business relationships while identifying potential customers and business partners which increasing its brand awareness and securing orders for conveyor belts, runner lining services, automotive pneumatic pulley laggers and adhesives
Scantech: To connect with mine managers, operators and process engineers about how online analysers can simplify and boost their operations.