National
DR Congo opens one of Africa's largest gold mines
Publish Date: May 03, 2014
DR Congo opens one of Africa's largest gold mines
  • mail
  • img
newvision

KIBALI - DR Congo, one of the world's biggest gold producers, on Friday formally opened one of the continent's largest gold mines in the far northeast of the country.

Production at the Kibali mine started in the third quarter of 2013 but Mining Minister Martin Kabwelulu on Friday attended an official ceremony in the Province-Orientale region.

Kibali Goldmines, which develops the mine, is a joint venture 45 percent owned by South African mining firm Randgold Resources, with another 45 percent stake held by South Africa's AngloGold Ashanti and 10 percent by the Congolese state.

The $2.5-billion project reportedly created 7,000 jobs, 80 percent of them held by Congolese.

Kibali Goldmines said the mine should have reserves until 2031, with 550,000 ounces (15.6 tonnes) of gold expected to be produced this year.

The mine is thought to have reserves of 11.6 million ounces (329 tonnes) of gold but could be higher.

DR Congo has massive resources of gold, copper and cobalt but also diamonds, iron, nickel, manganese, bauxite, uranium and cassiterite, the most important source of tin. However most of the country's people live in poverty.

Control over the mineral-rich areas is one of the factors in the conflicts that have raged in eastern DR Congo for decades.

AFP

The statements, comments, or opinions expressed through the use of New Vision Online are those of their respective authors, who are solely responsible for them, and do not necessarily represent the views held by the staff and management of New Vision Online.

New Vision Online reserves the right to moderate, publish or delete a post without warning or consultation with the author.Find out why we moderate comments. For any questions please contact digital@newvision.co.ug

  • mail
  • img
blog comments powered by Disqus
Also In This Section
Expert cautions NGOs against serving foreign interests
Environmental expert Dr. Aryamanya Mugisha, has cautioned non-governmental organizations against serving foreign interests....
Museveni commissions Kazo-Kamwenge road;  promises safe water
President Yoweri Museveni on Saturday commissioned the sh167b Kazo-Kamwenge road...
South Sudan ceasefire takes effect after 11th hour clashes
A ceasefire aimed at ending a brutal civil war in South Sudan came into effect Saturday evening hours after fresh clashes between government forces and rebels, which sparked concern for a hard-won peace deal....
Lesotho govt praises Uganda on decentralization
The Lesotho government has hailed Uganda government for decentralizing its systems of operation which have brought services closer to the people....
Police arrest woman over fraud at NSSF
By Charles Etukuri The National Social Security Fund (NSSF) has arrested a woman who attempted to claim fraudulently benefits for a person who was still alive....
Family storms police over spousal murder case
The family of a 22-year-old woman who was murdered early this year stormed Mukono police station on over delays in bringing the suspect to justice....
Do you support KCCA'S move to ban campaign posters from the city?
Yes
No
Can't Say
follow us
subscribe to our news letter