Anvil rises on new mining contracts in DRC

摘要

The biggest copper producer in the Democratic Republic of the Congo (DRC) has finalized mining contract renegotiations for two of its three mining operations. After more than a year of discussions, Anvil Mining (AVM-T, AVMNF-O) is in possession of an amended lease agreement for its Kinsevere mine and has been assured that the mining convention for its Dikulushi mine will remain unchanged. Anvil owns 95 percent of the Kinsevere copper mine, which is situated 30 km north of Lubumbashi in Katanga province. A local, privately owned Congolese company called Mining Co. Katanga owns the other 5 percent. The joint-venture partners now have a lease agreement with Gecamines, the state-owned mining company of the DRC, to mine and process ore from Kinsevere until 2024, followed by an automatic 15-year extension.