Mining projects in the Democratic Republic of Congo (DRC)

AngloGold Ashanti:

The third-biggest gold producer has been exploration drilling for gold at Mongbwalu in northeastern Ituri since 2005. AngloGold says the results so far support historical tonnage and grade estimates of 1.2 million ounces.

It increased its exploration budget for the DRC to $8 million (R58 million) for 2006 from $5 million in 2005.

AngloGold was accused in June 2005 of having links with local militia and helping them gain access to gold. The Congolese state gold mining firm is trying to renegotiate agreements signed with AngloGold by previous mining authorities.

BHP Billiton:

The largest diversified miner said in June that it planned to open an office in Kinshasa. It has an exploration joint venture in Katanga for copper with a Congolese company, and diamond exploration joint ventures with Canada’s SouthernEra and Australia’s Gravity.

“We believe the DRC has resource opportunities that fit in with our global business strategy of finding, developing and operating large, long-life, low-cost assets,” said BHP Billiton.

Metorex:

Metorex owns 80 percent of Ruashi Mining, which was set up in 2004 to mine and treat copper and cobalt from the Ruashi orebodies and treat the Ruashi and Etoile stockpiles in Katanga. Congolese state miner Gecamines owns 20 percent of the company.

Proved and provable resources in the orebodies is 31.9 million tons of ore containing 3.59 percent copper and 0.59 percent cobalt.

Source: Reuters