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The (Bidding?) War For the DRC

Every few years the Democratic Republic of the Congo rises to international attention. Often this is due to a new round of fighting in the eastern regions of the country, with associated human rights violations. This time, however, Congo’s resources are in the spotlight as nations scramble to secure access to some of the world’s largest and richest deposits of critical minerals ranging from battery metals to rare earths, gallium, germanium, and others vital to “green” economies, national defense, and slowing climate change.

The major “bidders” at the moment include China, Saudi Arabia, and the United Arab Emirates. China of course has been present in the DRC for decades in the mining industry with activities ranging from blatently illegal to merely controversial, as is the case with Tenke Fungurume, one of the world’s largest copper and cobalt mines. In 2006 China entered into an “infrastructure for minerals” agreement with the then-government of Joseph Kabila. Under the terms of this agreement, China built some roads, repaired some airport tarmacs and some government buildings – mostly in the eastern part of the country and in the mineral rich Katanga province. The Congolese people were unhappy with these arrangements as few jobs were created and those which were, involved menial labor. Due to the cheap materials used several projects were of short duration: perhaps the most famous was the road connecting the Bukavu airport with the city, which began eroding and collapsing in places even before the entire project was completed. In exchange, China received some of the richest copper concessions in the Katanga province and rights to other mineral holdings throughout DRC. In 2022 China’s Zijin Mining Group launched a bid to take over the Manono lithium/tin concession being developed by an Australian company and in 2023 was awarded development rights when the DRC government said the Australians had been moving too slowly. The award was revoked, however, and China now is contesting that decision.

In 2021 Saudi Arabia signed a general cooperation agreement with the Tshisekedi government and in January 2024, at the Future Minerals Forum in Riyadh, the two countries signed an MOU governing cooperation in developing Congo’s mineral wealth. Through its Private Investment Fund (PIF) Saudi has established a new vehicle, Manera Minerals, 50% owned by PIF and 50% by the state-owned mining company Ma’aden to actively work on sourcing critical minerals outside of Saudi to support the Saudi 2030 transformative development vision. Manera is charged with taking equity positions in existing companies thereby accelerating Saudi’s access to critical minerals. Unlike the Chinese, the Saudis enjoy a positive public perception. Saudi is seen as a role model and teacher for utilizing natural resources to enrich and develop countries – a major goal for African nations – and also has the resources to invest even during market downturns when commodity companies tend to pull back, thereby ensuring that projects continue to be developed regardless of external pricing constraints. Saudi’s recent agreement with the DRC envisions up to $2 billion in investments in the mining, transportation and infrastructure sectors. Crucially, the MOU envisions investment in processing and refinement of mined products, supporting a long-desired value-add for Congolese mining.

In 2023 the UAE signed a $2 billion deal with one of the DRC’s state mining companies, Sakima, to develop up to 4 mines in South Kivu and Maniema provinces. Sakima has mining concessions for tin, tantalum, tungsten and gold in those areas: another state-owned company, Gecamines, controls copper in Katanga. This broader agreement followed an initial partnership for Primera Group, a UAE firm, to export at preferential rates artisanally-mined gold, coltan, tin, tantalum and tungsten. This agreement supports the DRC Government’s desire to professionalize artisanal mining and ensure miners are getting a better return for their efforts. The DRC also hopes the deal will help strangle access by the militias to the area and cut-off their access to funds supporting continued violence in Eastern Congo.

Russia also is stepping up its interest in the DRC. Russians, like Chinese, have been in the Congo for decades mostly smuggling arms into, and minerals out of, Eastern DRC. Elements of the Wagner Group reportedly had trained and partnered with some of the militias in the area to more directly (albeit still illegally) exploit Congo’s mineral wealth.  In the last six months, following the death of Wagner Group leader Yevgeny Prigozhin, Russian military activities have increased and Russian political influence is emerging. The recent civil unrest in DRC’s capital, Kinshasa, which saw several days of sometimes violent demonstrations in front of the US and European Embassies as well as the UN offices, is believed to have been spurred by Russia. During the Cold War in the 1960’s the DRC had been a strategic site for both the US and Russia: as a bid to keep Russia from increasing its influence in DRC the US supported the rise of then-Sargent Mobutu. It appears that access to critical minerals in the DRC may be fueling another Cold War-style intervention in Africa by Russia – which has offered its military support to several African countries to enable governments to “suppress unrest.”

Meanwhile, what are the US and European countries doing? Very little. Even though by some estimates approximately 70% of the crucial critical minerals are in an arc spanning Central Asia to Africa, and even though in many countries the US remains the preferred partner (when possible) there, so far has been little apparent effort to support US businesses to develop and secure the resources needed for economic transformation and national defense.




Critical Metals Russell Fryer on Copper and Cobalt Plans for Production in 2024

In a revealing interview at PDAC 2024, InvestorNews host Tracy Weslosky engaged with Russell Fryer, CEO and Executive Director of Critical Metals PLC (LSE: CRTM), shedding light on the company’s strategic operations in the Democratic Republic of Congo (DRC) and its forward-looking goals. Fryer discussed the evolving political climate in the DRC, highlighting the peaceful presidential election in December 2023 as evidence of the country’s commitment to democracy and the rule of law, which is crucial for investors considering Congo-based companies. He underscored the significance of the DRC in the global supply of cobalt, essential for green energy, and the high-grade copper reserves, vital as other regions face diminishing supplies.

Critical Metals PLC is set to resume production and generate profits in 2024, distinguishing itself with a poly-metallic deposit that yields copper and potentially cobalt. The company’s proactive measures, including road rehabilitation and an off-take agreement with OM Metal & Resources, are poised to enable sales in the first half of the year. Fryer also revealed plans for further drilling and the development of a JORC report, enhancing shareholder value.

The company has made strategic acquisitions, including a controlling stake in Madini Occidental Limited, which holds an indirect 70% interest in the Molulu copper/cobalt project. This acquisition aligns with Critical Metals PLC’s strategy to target projects with low entry costs and near-term cash flow potential. The company’s commitment to operational efficiency and infrastructure upgrades, such as road improvements to facilitate ore delivery, alongside its notable collaboration with OM Metals, underscores its strategy for sustainable growth.

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About Critical Metals PLC

Critical Metals PLC has acquired a controlling 100% stake in Madini Occidental Limited, which holds an indirect 70% interest in the Molulu copper/cobalt project, a producing asset in the Katangan Copperbelt in the Democratic Republic of Congo.

The Company will continue to identify future assets that are in line with its stated acquisition objective of low CAPEX and OPEX brown-field projects with near-term production and cash-flow, whilst concentrating on minerals that have strategic importance to future economic growth thereby generating significant value for shareholders.

To learn more about Critical Metals PLC, click here

Disclaimer: Critical Metals PLC is an advertorial member of InvestorNews Inc.

This interview, which was produced by InvestorNews Inc., does not contain, nor does it purport to contain, a summary of all material information concerning FendX Technologies Inc. (the “Company”), including important disclosure and risk factors associated with the Company, its business and an investment in its securities. InvestorNews offers no representations or warranties that any of the information contained in this interview is accurate or complete.

This interview and any transcriptions or reproductions thereof (collectively, this “presentation”) does not constitute, or form part of, any offer or invitation to sell or issue, or any solicitation of any offer to subscribe for or purchase any securities in the Company. The information in this presentation is provided for informational purposes only and may be subject to updating, completion or revision, and except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any information herein. This presentation may contain “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements are based on the opinions and assumptions of the management of the Company as of the date made. They are inherently susceptible to uncertainty and other factors that could cause actual events/results to differ materially from these forward-looking statements. Additional risks and uncertainties, including those that the Company does not know about now or that it currently deems immaterial, may also adversely affect the Company’s business or any investment therein.

Any projections given are principally intended for use as objectives and are not intended, and should not be taken, as assurances that the projected results will be obtained by the Company. The assumptions used may not prove to be accurate and a potential decline in the Company’s financial condition or results of operations may negatively impact the value of its securities. This presentation should not be considered as the giving of investment advice by the Company or any of its directors, officers, agents, employees or advisors. Each person to whom this presentation is made available must make its own independent assessment of the Company after making such investigations and taking such advice as may be deemed necessary. Prospective investors are urged to review the Company’s profile on www.sedarplus.ca and to carry out independent investigations in order to determine their interest in investing in the Company.

If you have any questions surrounding the content of this interview, please contact us at +1 416 792 8228 and/or email us direct at [email protected].




Global Winds: Opening the Door for a New Middle Eastern Hegemon

Sometimes when the wind changes direction we notice, especially if the change is sudden or sharp. More subtle changes often go unnoticed.

The same can be said for the winds of global politics. Sometimes the shift is unmissable – Arch Dukes are assassinated, countries are invaded, atomic bombs are dropped – but sometimes it largely goes unnoticed save by the savvy.

The late 1960s and early 1970s were tumultuous in the Middle East, with conflicts ranging from the 6 Day War to the Yom Kippur War drawing the US ever closer to Israel while seeking ways to broker a cessation or at least diminution of hostilities. During this period the Kingdom of Saudia Arabia began increasing its hold over Aramco (a joint US-Saudi oil extraction company) and by 1976 Saudi was the sole owner of one of the world’s largest oil companies. Among other consequential developments that ensued was the establishment of OPIC and the rise of the so-called petrodollar. Taken together, a significant change to the global winds of power which elevated Saudi Arabia’s economic standing and changed its future.

A similar global shift appears to be happening now, in the area of critical materials vital to “greening” various (largely Western) economies, especially the US. And once again, the Kingdom of Saudi Arabia, this time under the skillful direction of Crown Prince Mohammed bin Salman, is causing the winds of change to blow and challenge not only the West but the East as well.

Recently (January 25, 2024), Saudi Arabia joined the so-called BRICS, an organization founded by China and Brazil in 2006 with fellow members Russia and India. South Africa joined in 2010, and in 2023 Egypt, Ethiopia, Iran, the United Arab Emirates (UAE), and Saudi Arabia were invited to join with membership effective in January 2024. The group’s purpose as defined at its founding is to bring together the world’s most important developing countries to challenge the political and economic power of the wealthier nations of North America and Western Europe. The inclusion of Iran evidently gave Saudi pause but the Kingdom appears to have agreed to join, reportedly at the urging of China.

Adroitly balancing that decision, the Prince recently signed an agreement expanding long-standing cooperation with Japan’s Sumitomo Corp. to develop the Kingdom’s critical minerals resources from mining to processing, working together with Aramco, which is gradually transforming from petroleum to a mining company, in accordance with the Prince’s Saudi Vision 2030. Sumitomo already was working with various elements of the Saudi political and business community on projects ranging from reducing the “heat island” effect in Saudi’s financial district to building “smart cities” of the future. The latest MOU also provides for cooperation in developing new industries in Saudi, including steel, semiconductors, and AI-enabled technologies.

The Public Investment Fund (PIF) overseen by the Crown Prince is the financial vehicle for realizing the Saudi Vision 2030. Per its website, it already has created 93 portfolio companies across 13 key sectors and has over $700 billion in assets under management. The most recent example of a PIF-funded company is “Alat,” announced on February 1 by Crown Prince Mohammed bin Salman who will personally lead its efforts within seven main strategic business units – advanced industries, semiconductors, smart appliances, smart health, smart devices, smart building and next-generation infrastructure – to support development of Saudi Arabia as a worldwide center for sustainable technology manufacturing with an emphasis on electronics. 

Such an ambitious agenda will demand more resources than Saudi itself can provide as critical minerals feedstock, and therefore the Kingdom is emerging as a key player in the latest “scramble for Africa,” particularly in the DRC (Democratic Republic of the Congo), where its ambitions may run afoul of China’s.

Saudi Arabia has signed two agreements recently with the DRC, one an MOU covering general economic cooperation and development, the other specific to the mining industry with a special emphasis on critical minerals, which the DRC has in abundance, ranging from lithium, nickel, and cobalt to copper and rare earths. Among other things, Saudi has said it will build processing capacity in Congo and also assist in developing national infrastructure.

In short, while the US and other Western nations continue debating how to secure the necessary elements to transform their economies, the Crown Prince of Saudi Arabia appears to be leading his nation boldly into a future in which Saudi could be a dominant player – perhaps even more as China’s resources begin to be depleted after decades of mining, opening the door for a new Middle Eastern hegemon.




BMW Probes Moroccan Supplier for Critical Mineral Compliance

BMW (Bayerische Motoren Werke AG (OTC: BMWYY)), the prominent German automaker, is currently investigating a Moroccan cobalt supplier, Managem, following a report that raised serious concerns over labor and environmental violations at a cobalt mine in Morocco. The report, which surfaced in the German daily newspaper Sueddeutsche Zeitung, in collaboration with broadcasters NDR and WDR, alleged that the mining operations at Bou Azzer, southern Morocco, were releasing excessive arsenic levels into the environment. This revelation has significant implications given the critical role of cobalt in manufacturing electric car batteries, a market in which BMW is a key player.

The primary issue highlighted in the report is the alarming levels of arsenic detected in water samples from the vicinity of the mine. This finding is concerning, as arsenic, a naturally occurring element, is known for its toxic properties. Prolonged exposure can lead to severe health issues, including chronic poisoning, skin lesions, and cancer, as per the World Health Organization. Additionally, there were claims of Managem not adhering to international standards for worker protection and its actions against critical trade unions. These allegations contradict Managem’s stance, which asserts adherence to high environmental and labor standards.

Responding to these allegations, BMW has taken immediate steps to seek clarity and has initiated investigations. A spokesperson for BMW mentioned that they had contacted Managem, requesting additional information and emphasizing the need for corrective action if any misconduct was found. BMW’s approach underscores the increasing scrutiny by major corporations on their supply chains, especially concerning environmental and labor practices.

This situation is not isolated to BMW or Managem. The global cobalt supply chain has faced ongoing challenges. A large portion of the world’s cobalt reserves are in the Democratic Republic of Congo, where the mining sector has been plagued by issues of child labor and poor working conditions. In a bid to adhere to higher ethical standards, BMW has stopped sourcing cobalt from Congo and now relies on supplies from Morocco and Australia. The company has also planned audits at the Bou Azzer mine to assess social and environmental standards, which will guide their future decisions on the partnership.

Managem, a company majority-owned by the Moroccan monarchy and operating in several African countries, has refuted the allegations. It stated that an audit of its water supplies showed no irregularities and emphasized its commitment to the highest industry standards in terms of quality, safety, and environmental respect. The company also highlighted the absence of arsenic-related illnesses in the mine area, further backing its claims of compliance.

The automotive industry, particularly in the electric vehicle segment, is undergoing a significant transformation. Automakers like BMW are vying to secure supplies of critical minerals like cobalt while also ensuring that their supply chains adhere to stringent labor and environmental standards. This incident with Managem not only highlights the complexities involved in ethical sourcing but also the increasing pressure on multinational corporations to ensure responsible practices throughout their supply chains. As the demand for electric vehicles grows, so does the need for transparency and sustainability in the procurement of essential raw materials.




Navigating the Critical Mineral Investment Trail in the Congo: Experts Weigh in on the CMI Masterclass

U.S. apprehensions about China’s advances in the Congo underline its pivotal role in the critical minerals’ domain.

The Democratic Republic of Congo (DRC) has long been recognized for its vast mineral wealth. But with this abundance comes complexity. Recently, the Critical Minerals Institute (CMI) Masterclass series provided a deep dive into this rich, multifaceted topic, led by two individuals with considerable firsthand experience in the DRC: Melissa ‘Mel’ Sanderson, a Director for American Rare Earths Limited (ASX: ARR | OTCQB: ARRNF), and Russell Fryer, CEO and Chairman of Critical Metals PLC (LSE: CRTM). Both Mel and Russell are members for the CMI Board, committed to education and B2B resources in the critical minerals sector.

Hosted by Tracy Weslosky, the Founder and Managing Director for the CMI, the discussion spanned topics from the geopolitical to the deeply personal, offering invaluable insights to potential investors and businesses eyeing the DRC.

Entering the Congo

Both Sanderson and Fryer have unique entry points into the DRC. Sanderson’s journey began with the U.S. diplomatic service in 2003, right after “Africa’s World War” ended. She joined Freeport-McMoRan Inc. (NYSE: FCX) in building one of the world’s largest copper-cobalt mines. Her combined diplomatic and business experiences make her insights particularly relevant.

Fryer, an engineer by profession, managed the metals and mining book for a hedge fund, leading him to be deeply involved with the DRC’s mining sector. He emphasized the importance of a strong on-ground presence to effectively operate in the region.

Navigating the Investment Landscape

When it comes to investing in the DRC, both experts stressed the significance of building robust government relations. Fryer emphasized the importance of forging connections at all levels of government. His hands-on approach, combined with regular liaison with international ambassadors, has served him well in navigating the intricacies of the region.

Sanderson highlighted the role of local culture and the importance of understanding key regulations like the Foreign Corrupt Practices Act. This understanding helps businesses operate ethically while also respecting local customs and norms.

The Unique Challenges of Doing Business in the Congo

The Congo presents a unique set of challenges for investors and businesses alike, the experts outlined how the terrain is fraught with hurdles from unreliable power, water quality, to workforce and transportation issues. Moreover, certain regions, such as Bondo, necessitate heightened security measures. Fryer underlines the urgency of addressing local community needs and creating a quick revenue stream for both operational success and local welfare.

Geopolitical Implications and the Congo

Weslosky delved into geopolitical investments in the DRC. With growing interest from the Middle East, China, and the U.S., the DRC is at the heart of intricate international dynamics. Fryer shared insights into the increasing influence of countries like Saudi Arabia, UAE, and Qatar in the DRC. Addressing these geopolitical complexities requires the Congolese government to skillfully navigate these multifaceted relationships.

Empowering the Locals

On the topic of developing local talent, both experts shared their belief in the potential of the Congolese people. Sanderson spoke about initiatives to bring talented Congolese to the US for training. Fryer highlighted the need for trust, understanding the culture, and providing real opportunities.

Closing Remarks

The Masterclass shed light on the myriad of opportunities and challenges the DRC presents. As businesses and investors continue to look towards this region, the insights shared by Sanderson and Fryer provide a valuable roadmap. As Weslosky rightly put it, it’s essential for those in the resource and investment sectors to familiarize themselves with the regions they invest in. The discussion underscored the importance of understanding, respect, and hands-on involvement when it comes to successful investment in the DRC.

For those interested in exploring further, the Critical Minerals Institute ot the CMI continues to offer invaluable resources and discussions in the critical minerals sector.

CMI Masterclass Key Points:

  1. Congo’s Importance:

    • The U.S. government is concerned about China’s potential acquisitions in the Congo.
    • Highlights the region’s significance in the critical minerals sector.

  2. Investment Advice:

    • Foster strong relationships at all levels of the Congolese government.
    • Understand and respect the local culture and language.
    • Comply with international regulations, especially the Foreign Corrupt Practices Act (FCPA).

  3. Geopolitical Investments:

    • Growing interest from Middle Eastern countries (e.g., Saudi Arabia, UAE, and Qatar) in the Congo.
    • The U.S. is perceived to hold significant influence in the region.
    • The Congolese government needs to navigate geopolitical complexities wisely.

  4. Business Environment in Congo:

    • Challenges include inconsistent power outside the Katanga province, water quality, transportation, and security.
    • Companies should anticipate delays and budget for higher costs due to unforeseen challenges.
    • Engage with local communities and prioritize security.

  5. Building Relationships in the DRC:

    • Collaborate with educational institutions, notably the University of Lum Bashi.
    • Embassies can play a role in introducing businesses to relevant government officials.

  6. African Free Continental Trade Agreement:

    • Provides numerous advantages, but may not directly influence political stability in Congo.
    • There’s a need to address power consistency, infrastructure, and local beneficiation of minerals on the continent.

  7. Empowering Local Talent:

    • Emphasized importance of training and acknowledging Congolese talent.
    • Foster local leadership for successful integration with foreign businesses.

For more information on the Critical Minerals Institute or becoming a CMI Member, click here




Critical Minerals in the Congo: A Strategic Treasure Trove

The Democratic Republic of Congo (DRC), known for its vibrant history and rich cultural fabric, is increasingly coming under the limelight for its vast mineral wealth. A deeper look into its mineral assets sheds light on global geopolitics, economic tactics, and the progression of technology.

I am thrilled to announce that tomorrow at 11 AM EST, I will be moderating a panel discussion for the Critical Minerals Institute (CMI) themed “Critical Minerals in the Congo”. The CMI has been organizing a monthly masterclass for its members. If you’re interested, drop me an email, and I’ll be happy to offer you a complimentary pass. This gesture underscores our commitment to learning and growth. Special thanks to the Directorial Team for their unwavering dedication.

During this Masterclass, we are privileged to host two distinguished CMI Board Members, Melissa ‘Mel’ Sanderson and Russell Fryer, both with invaluable on-ground experience in the Congo. Mel has dedicated 16 years to fortifying relations in Congo on behalf of Freeport McMoRan. On the other hand, Russell heads Critical Metals PLC, an LSE-listed firm focusing on Congo’s burgeoning copper sector. For an in-depth analysis, do watch our recently released interview: “Russell Fryer on Critical Metals PLC’s Strategic Moves in the DRC and Global Expansion.”

DRC’s Mineral Wealth: Tracing its Roots

While preparing for this Masterclass, I delved into some historical backdrop.

In the early 20th century, the DRC’s incredible mineral affluence left European geologists in awe, leading them to describe it as a “geological scandal”. Today, the nation boasts an estimated mineral cache valued at an astonishing $24 trillion. The World Bank echoes this magnitude by spotlighting the country’s 80 million hectares of cultivable land, housing a diverse array of over 1,100 minerals and gemstones. Key amongst them are:

  • Coltan (Columbite-tantalite): A unique tar-like mineral.
  • Cobalt: Extracted from nickel and copper mining, it’s pivotal for myriad applications.
  • Uranium: A potent element with energy and defense connotations.
  • Copper: Reinforcing the DRC’s stature as Africa’s top copper producer.

These aren’t merely geological marvels. They are the linchpins for numerous global industries, spanning aerospace, defense, tech, electronics, and automotive.

The US’s Escalating Focus on African Minerals

The strategic gravity of these minerals has piqued the interest of global giants, particularly the US. A series of recent American endeavors underscore its intensified involvement with mineral-abundant African countries. Highlights include:

  • Initiatives in Lusaka and Kinshasa to jumpstart local battery fabrication.
  • Kimberly Harrington of the Bureau of Energy Resources underscoring the pivotal role of critical minerals in the impending clean energy wave.
  • A significant US investment of $150 million in Mozambique’s graphite mining to augment graphite output and enrich the global supply network.
  • The US-driven Minerals Security Partnership (MSP) propelling the agenda of infusing overseas investment and technical acumen into the mining facets of emerging economies.

Further solidifying the centrality of minerals in the automotive and energy pivot, the US Secretary of State, Antony Blinken, endorsed a pact with Congo and Zambia, bolstering their joint vision to shape an electric-vehicle supply chain.

DRC vs. China: The Germanium Powerplay

In a fascinating twist in the global mineral narrative, a novel facility in the DRC is set to challenge China’s germanium stronghold. Presently, China reigns supreme, manufacturing a staggering 60% of global germanium. But with the DRC’s latest venture, supported by the state-backed miner Gecamines’ affiliate STL, aspiring to claim 30% of worldwide production, the scales may soon tip.

Given germanium’s indispensable roles in fiber-optic connectivity, infrared optics, and space ventures, this move is monumental. The DRC’s ambition is clear: to emerge as a powerhouse not just in cobalt and copper, but also in the germanium sector.

Final Thoughts

The mineral narrative of the DRC is a captivating tale of tactics, global significance, and boundless potential. As our world forges ahead with tech innovations and sustainable shifts, the DRC’s mineral treasure is set to shimmer even brighter.

For those interested in joining our masterclass, drop a line at [email protected] for a complimentary pass.




Move Over China, as Saudi Arabia Enters the Critical Minerals Stage in the Congo

The Democratic Republic of Congo (DRC) is rapidly emerging as a focal point for global entities eager to obtain crucial metals pivotal for green technologies. This surge in interest has placed both the United States and the mining giant, Glencore PLC (LSE: GLEN | OTC: GLCNF | HK: 805), at the forefront of news, particularly regarding their expanding interests in the DRC.

Recent reports from Reuters reveal advanced talks between the United States and Saudi Arabia to secure metals from Africa for their green energy transitions. Concurrently, the UAE has penned a $1.5 billion agreement with the DRC to mine and process critical materials. This raises significant queries: Is Saudi Arabia charting a similar trajectory? How will these accords impact the region’s fragile power infrastructure? Moreover, given the proposed framework allowing U.S. companies to purchase a part of Saudi’s yield, what might be the potential cost for U.S. entities? This arrangement, echoing the prevalent market control where U.S. miners and manufacturers are tethered to China’s market hegemony, prompts the contemplation: Is the U.S. merely substituting China with Saudi Arabia?

In a parallel move, the Financial Times has shed light on Glencore’s ambitions in the DRC. The corporation’s strategy is to fortify its stance in the electric vehicle battery domain by bolstering its investments in the African country. Their alliance with the Toronto-listed Tantalex Lithium Resources Corp. (CSE: TTX | OTCQB: TTLXF) for a lithium mining project epitomizes this vision. Nevertheless, Glencore’s African endeavors have not been without their share of scandals. In the previous year, they acknowledged bribery practices across the continent, culminating in a sizable $180 million settlement with the DRC. Probes into their DRC activities persist.

Critical Minerals Institute (CMI) Director and DRC expert Melissa “Mel” Sanderson’s discernment provides a deeper layer of scrutiny to these advancements. She underscores the ethical paradox in the U.S.’s methodology — a predisposition for mining in regions with more lenient ESG standards, while overlooking potential ventures domestically under more rigorous norms. She perceives this as a manifestation of an “out of sight, out of mind” philosophy.

Enriching the discourse, CMI Co-Chair Jack Lifton remarked, “I am deeply acquainted with this scenario. The American public remains oblivious to the fact that the lithium will be claimed by the highest bidder, not necessarily the most ethical. The Chinese had collaborated with an Australian firm that forfeited the concession due to alleged “corruption.” It’s plausible that they will, if not already, synergize with Glencore concerning expenses. Being Swiss, Glencore isn’t bound by loyalty to the EU or the USA. It’s widely recollected that an African leader observed, ‘While Americans offer promises, the Chinese construct airports.’ The U.S. and its industries are channeling funds into ‘domestic’ ventures from finite or economically precarious sources, providing fertile ground for unscrupulous practices.”

In today’s interconnected age, cultivating global alliances is undeniably pivotal. Yet, the overarching strategic, ethical, and environmental repercussions of these engagements demand unwavering attention. As the global compass aligns with sustainability, it becomes imperative for entities like the U.S. government and Glencore to holistically evaluate the broader socio-political and environmental consequences inherent in their decisions. Reflecting upon this might hint that ethical, sustainable, and dependable alternatives may be more accessible than they presume. For more information on the CMI, click here




Critical Metals Russell Fryer on getting the Molulu Cobalt and Copper Mine Back into Production

In this InvestorIntel interview, Tracy Weslosky interviews Critical Metals PLC’s (LSE: CRTM) CEO and Chairman Russell Fryer to discuss an update on Critical Metals’ Molulu Mine, an ex-producing copper cobalt mine in the Democratic Republic of Congo (“DRC”).

Providing a timeline for production on the Molulu Mine, Russell shares an update on when Critical Metals may begin to generate revenue from the mine. He goes on to talk about the ‘King of Mining’ Ian Hannam becoming a significant shareholder in Critical Metals. Discussing the strength of their team that he has put in place at Molulu already, Russell references the recent appointment of John Greeff as the Mine Manager.

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About Critical Metals PLC

Critical Metals PLC has acquired a controlling 57% stake in Madini Occidental Limited, which holds an indirect 70% interest in the Molulu copper/cobalt project, an ex-producing medium-scale asset in the Katangan Copperbelt in the Democratic Republic of Congo. In line with its investment strategy of focusing primarily on known deposits, targeting projects with low entry costs and potential to generate short-term cash flow; the Company intends on bringing the Molulu Project into near term production at the earliest opportunity. 

The Company will continue to identify future assets that are line with its stated acquisition objective of low CAPEX and OPEX projects with near term production, concentrating on minerals that are perceived to have strategic importance to future economic growth and generate significant value for shareholders.

To know more about Critical Metals PLC, click here

Disclaimer: Critical Metals PLC is an advertorial member of InvestorIntel Corp.

This interview, which was produced by InvestorIntel Corp. (IIC) does not contain, nor does it purport to contain, a summary of all the material information concerning the “Company” being interviewed. IIC offers no representations or warranties that any of the information contained in this interview is accurate or complete.

This presentation may contain“forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements are based on the opinions and assumptions of the management of the Company as of the date made. They are inherently susceptible to uncertainty and other factors that could cause actual events/results to differ materially from these forward-looking statements. Additional risks and uncertainties, including those that the Company does not know about now or that it currently deems immaterial, may also adversely affect the Company’s business or any investment therein.

Any projections given are principally intended for use as objectives and are not intended, and should not be taken,  as assurances that the projected results will be obtained by the Company. The assumptions used may not prove to be accurate and a potential decline in the Company’s financial condition or results of operations may negatively impact the value of its securities. Prospective investors are urged to review the Company’s profile on Sedar.com and to carry out independent investigations in order to determine their interest in investing in the Company.

If you have any questions surrounding the content of this interview, please contact us at +1 416 792 8228 and/or email us direct at [email protected].




Auxico Resources adds rare earths experience to the top with new president and board member

Massive deposits of rare earths – the key component in electric vehicle production, permanent magnets, alternative energy and other green technologies – are located in Africa and South America that may be otherwise overlooked. Auxico Resources Canada Inc. (CSE: AUAG) is a Canadian company specializing in producing rare and critical minerals. Auxico is poised to be one of the largest suppliers of these materials outside of China. Auxico is the exclusive trade agent for rare earth concentrates from the Democratic Republic of Congo (DRC). In addition, Auxico also has joint ventures with companies or owns mineral rights in Colombia, Bolivia, and Brazil. Overall, the company has access to nearly 4 million tonnes of these minerals, making it a significant player in the global market.

This week Auxico announced a change in executive leadership and the addition of a new Board member. Frederick Kozak took over as president and Chief Executive Officer of Auxico as of September 6th. Kozak was previously the president of Appia Rare Earths & Uranium Corp. (CSE: API | OTCQX: APAAF), which on his departure announced that Appia CEO Tom Drivas will assume the role of interim president pending the appointment of a new president.

Pierre Gauthier had led Auxico as CEO and Executive Chairman since the company’s inception. Gauthier will remain a key part of the company as a director and remain CEO and Chairman of Central America Nickel. This leadership change announcement took some by surprise, but based on Kozak’s previous experience, it looks like a good fit for Auxico considering its long-term focus on its mineral rights in Colombia, Bolivia, and Brazil. Kozak has a long history and deep understanding of South America’s rare earth industry and capital markets. Early in his career he built a reputation as an analyst of public companies in Colombia and for his regional reports on Colombia, Argentina, and other regions.

Later in his career, as VP of Arrow Exploration Corp, Kozak worked on analyzing and modeling asset potential of oil property acquisitions from an existing producer in Colombia. Kozak also has extensive consulting experience, working with clients from all over the world, including South America. The experience working in capital markets and rare earths should help Auxico navigate the complexities of the rare earths market.

At the same time Auxico also announced that they had appointed Melissa Sanderson, regular InvestorIntel contributor, to their Board of Directors. Sanderson is also a good fit for Auxico’s board of directors. For years she served as a senior diplomat and the Charge d’Affaires at the US Embassy in Kinshasa, Democratic Republic of the Congo. She also has more than 30 years of experience in mining, business, and government relations. She currently is a Professor of Practice at the Thunderbird School of Global Management in Arizona. As VP International at Freeport-McMoRan she coordinated Freeport’s environmental, social and governmental functions in Peru and Chile, as well as the DRC. Melissa is the recipient of numerous awards, including the U.S. State Department Superior Honor Award and inclusion in the Who’s Who of American Women Bankers. This experience will help Auxico drive operational improvements in both North America and the DRC.

As a recognized expert in ESG and founder of Ethically Sustainable Growth (ESG+), Sanderson can bring her extensive knowledge of local community and government relations to improving operations and sustainability to Auxico as the rare earth industry continues to navigate the complex and changing environmental requirements.

These new leadership positions could have a positive impact on how Auxico manages its extensive operations throughout the world. Kozak and Sanderson bring the extensive operational expertise and rare earth knowledge to Auxico that is needed to capitalize on their assets.




Maritz Smith on Alphamin Resources’ extraordinary low-cost high-grade producing tin mines

In a recent InvestorIntel interview, Byron King spoke with Maritz Smith, CEO of Alphamin Resources Corp. (TSXV: AFM) about achieving record fourth quarter EBITDA and production, and about how Alphamin is positioned to become one of the world’s largest low-cost tin producers.

In this InvestorIntel interview, which may also be viewed on YouTube (click here to subscribe to the InvestorIntel Channel), Maritz Smith said that tin is a strategic metal “without which technology cannot exist” and went on to highlight the supply constraints in the tin market because of decades of underinvestment in exploration and development of new tin mines. “Alphamin’s mine is the first major tin mine that has been developed in the last 40 years,” he added. As a producer of 4% of the world’s mined tin, Maritz provided an update on Alphamin’s maiden mineral resource estimate and positive PEA for their Mpama South Mine.

To watch the full interview, click here.

About Alphamin Resources Corp.

Alphamin Resources is a low-cost tin concentrate producer from its high-grade deposit at Mpama North. This is on its mining license, and it has an additional five exploration licenses covering a total of 1,270km2 in the North Kivu Province of the Democratic Republic of Congo (DRC). Alphamin is headquartered in Mauritius and listed both on the Toronto Stock Exchange (TSXV: AFM) and on the Johannesburg Stock Exchange AltX (JSE AltX: APH). At a tin grade of roughly 4.5%, Mpama North is the world’s highest-grade producing tin resource – about four times higher than most other operating tin mines in the world. The Mpama North mine is in production. It has an output of ~10 000 tonnes of contained tin per annum, amounting to ~3% of the world’s mined tin supply. Alphamin is aiming to increase annual tin output and life of mine through incremental production from Mpama South and by adding more mines in close proximity to the current producer from within its licensed footprint. The management team has successfully developed and brought the Bisie tin mine into production and is focused on taking the business to the next level as they pursue their objective of realizing the full value potential of this extraordinary tin complex.

To learn more about Alphamin Resources Corp., click here

Disclaimer: Alphamin Resources Corp. is an advertorial member of InvestorIntel Corp.

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