Mining sector promotion in the Democratic Republic of the Congo and Anadarko’s final investment decision in Mozambique are actions from June 17 that may emerge to become significant factors impacting geomarket developments in Africa.
Democratic Republic of the Congo: The DRC Mining Week conference will open in Lubumbashi on June 19.
Significance: The several day mining conference in the country’s mining capital is a notable event bringing together government policymakers and officials and representatives from national and international mining companies active in the Congo. While all stakeholders would agree in wanting to promote greater output from mining in the Congo, reaching consensus on how to achieve greater output will likely emerge from the conference unresolved. Guidance on the country’s mining sector policy regime will retain an outlook of continuity, given the reappointment of Albert Yuma as head of the state-owned Gecamines mining company, and little to no debate within the Tshisekedi administration to amend the government’s Mining Code that was revised in early 2018 by the government of then-President Joseph Kabila.
Mozambique: Anadarko is shortly to formally announce its final investment decision for its liquified natural gas project in Mozambique.
Significance: Anadarko is to make a formal announcement on June 18 in the Mozambique capital Maputo to launch its $25 billion, almost thirteen million tonne per year liquified natural gas project. The final investment decision follows the successful acquisition of sufficient sales and purchase agreements to account for the product’s full output, successful due diligence research, and the approval by the Mozambique government of the funding structure for the Anadarko facility to be located on the Afungi peninsula of Palma district in the country’s Cabo Delgado province. The Anadarko-led project, which could result in first gas produced in 2023 and commercial levels of output achieved in 2024, will help lift economic growth levels to greater than 10%.