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
WHO eyes mass Ebola vaccines by mid-2015
Hundreds of thousands of Ebola vaccine doses could be rolled out to west Africa by the middle of 2015, the World Health Organization said Friday, after new cases of the virus were reported in New York and Mali....
KCCA demolishes structures in Wandegeya
Kampala Capital City Authority (KCCA) has demolished several illegal structures in Wandegeya in an operation which lasted for close to five hours....
Army chief urges youth on hard work
The Chief of Defence Forces, Gen. Katumba Wamala, has cautioned the youth against impatience urging them to devote their energies to productive activities. He said most youth spend time watching movies which have given them an illusion of a rather glamorous life...
Rakai launches campaign against teenage pregnancies
Rakai district has partnered with local charities to end child marriages. This follows reports of an increase in the rate of school dropout among girls.According to the Abubeker Lutaya, the Rakai district schools’ inspector, child marriages have contributed to girl child school dropout...
US Embassy empowers Kampala youth
Sports betting and gambling are fast becoming a serious challenge to youth employment in Kampala City since majority of losers in betting resort to crime including robbing and hitting people with iron bars....
‘Jamwa did not cause any financial loss to NSSF’
City lawyer Fred Mpanga has asked the Court of Appeal to acquit former NSSF managing director David Chandi Jamwa of abuse of office and causing financial loss....
Should diplomatic passports issued to ex-govt workers be with drawn?
Yes
No
Can't Say
follow us
subscribe to our news letter