The DRC’s Sengamines seems to be operating again, but it is not without its challenges. Sources report that the country’s state-owned Societe Congolaise d’Investissement Minier (SCIM) has begun exploiting the huge primary diamond mine at Tshibwe, whose estimated reserves of 45 million carats were inherited from Sengamines’ former concessions.
A packet of 10,000 carats was auctioned off in late April which reports that the revenue from that sale and other similar operations will be used to pay back wages of workers from Sengamines since, as new owners, SCIM agreed to bear the cost and supply the company with everyday inputs and equipment.
"SCIM hopes to be shortly turning out 50,000 carats per month both from the primary mine and from tailings. But given the mine’s total dependency on electricity generated by thermal energy, the sales price for its diamonds has got to be higher than USD 35/carat if SCIM is to make money," Africa Mining Intelligence writes.
SCIM’s shareholders consist of the DRC government (80 percent), Fonds de Promotion des Investissements (10 percent) and Insitut National de Securite Sociale (10 percent).
INTERNATIONAL EVENT IN THE DRC
Meet the CEO of SCIM, Professor Hubert Kazadi in October in Kinshasa, along with other key contacts of the DRC’s mining elite, namely, the Minister of Mines, Martin Kabwelulu Labilo; Director of the Mining Cadastre, Jean-Felix Mupande; MD of Sokimo, Willy Bafoa; MD of the Centre of Evaluation, Expertise and Certification (CEEC), Alexis Mikandji – and many more – at the annual Infrastructure Partnerships for African Development (iPAD) DRC conference and exhibition.
iPAD DRC is the premier international mining and energy investment event for the DRC and enables direct engagement between government, investors, financiers and operators. It’s the leading marketplace for mining professionals looking either to strengthen existing business ties or to source opportunities for partnership and investment. Taking place from 3-4 October 2011 at the Grand Hotel in Kinshasa, iPAD DRC is a must attend event on the African mining calendar.
iPAD DRC in Kinshasa focuses on the investment climate of the DRC and how this impacts the mining sector, as well as how the global commodity markets affect the DRC economy. Focus is given to macroeconomic issues, transparency and governance with a strong emphasis on issues directly affecting the business of mining: legislation and regulation, the mining code, taxation, infrastructure.
The copper and cobalt hub of the DRC, Katanga province, is given exposure when on the 6-7 October 2011, iPAD presents the Katanga Mining Briefing at the Grand Karavia Hotel in Lubumbashi. This forum is specifically for those based in this province engaging with the large operators and exploration companies.
Visit www.drc.ipad-africa.com to book your place today in Kinshasa and Lubumbashi!