Despite ongoing ethnic violence, the Democratic Republic of the Congo and surrounding areas are seeing increased tourism. Flydubai will launch a new route to the capital of the Democratic Republic of Congo from April. The airline is the first UAE carrier to operate to the destination and the route announcement comes amid a recent flare-up of ethnic violence which has forced thousands to flee to neighbouring Uganda in the last few days. Much of the eastern part of the country is off-limits according to western travel advisories, such as the UK’s Foreign and Commonwealth Office, though Kinshasa, on the far western edge of the country, is not included in this.
A $10 million investment will help Nzuri Copper with its Kalongwe copper-cobalt project. Nzuri Copper Ltd (ASX:NZC) has secured a cornerstone $10 million strategic investment by Huayou Cobalt through Huayou HK to advance its portfolio of copper-cobalt projects in the Democratic Republic of Congo (DRC). This would include expansion and optimisation studies on the company’s flagship Kalongwe copper-cobalt project. Huayou Cobalt has established copper and cobalt operations within the DRC and is listed on the Chinese stock exchange with a market capitalisation of circa US$8 billion. Investment encompasses placement and convertible loan The investment is at a price of $0.2507 per share, a discount to Nzuri’s closing price on
The cars of the future will depend increasingly upon supplies of an obscure metal from a country in the African tropics where there has never been a peaceful transition of power and child labor is still used in parts of the mining industry. Most major automakers are pledging to build millions of electric vehicles as the world’s governments crack down on climate-damaging emissions from traditional-fuel engines. As a result, demand is surging for lithium-ion batteries and the materials needed to make them — including cobalt, a relatively rare substance found mostly in the Democratic Republic of Congo. The country formerly known as Zaire — which hosted boxers Muhammad Ali and George Foreman for their
Feronia, an agribusiness company operating in the DRC, has entered into USD 17.5mn private placement agreement with Kuramo Capital Management and Mafuta Investment Holding. Funds will go towards expansion and working capital for its palm oil business. Kuramo is also granted the right to nominate up to three directors as part of the deal. Prior to the closure of the private placement, which is expected to be at the end of October, Kuramo has provided Feronia with an unsecured term loan facility of up to USD 4mn while the two parties work through the closing conditions of the private placement. At the core of Feronia’s portfolio is its palm oil
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