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RRR MUSONI JV, DRC [MINING DISTRICT]:
Some potential implications:
[1] Has the state miner, Gecamines gone over the RRR MUSONI CENTRAL JV to check as well , in light of Zijin's latest news out today re: "extreme radiation" from cobalt @Zijin, COMMUS, Musoni South? Why? RRR Musoni Central is ABOVE Zijin Commus.
[2] Has RRR's JV partner, VUP heard the latest news all over the place now about |Zijin, the immediate neighbour at Musoni, DRC Mining Distrist.? Has Gecamines CONTACTED VUP, RRR JV partner in the DRC?
[3] It will be shortly reported in the MINING WEEKLY etc as the mining world will want to know. SO, RRR --------WILL BE ON INTEREST, hence why Mining Weekly REPORTS ON RRR DRC but no on their other projects. SO, ALL EYES WILL BE ON DRC MUSONI MINING DISTRICT SINCE TWO MAJORS ARE EXPORTING -----------C O P P E R --------rising prices and going into or is in SUPPLY DEFICIT.
[4] How will it affect GLENCORE @KCC KAMOTO, DRC SUBSIDIARY WHO IN TOTAL WITH RRR'S CENTRAL MUSONI IS THE LARGEST PLAYER AND MINER IN MUSONI , barring Zijin.
[5] Given it is "Extreme Radiation" and Gecamine has STOPPED EXPORTS and DONE A RECALL, is it going to be CHECKS FROMN GLENCORE'S 3 BIG LICENCES AS WELL which includes RRR's JV Central Musoni?
[6] Will Gecamines CHECK GLENCORE'S EXPORT OF COPPER AS WELL since it is coming from the MUSONI 3 LICENCES DISTRICT?
[7] Will Gecamines FIND the same "extreme radiation" on RRR's JV CENTRAL MUSONI which on the 24.1.24 map has NO REPORTS of such radiation as at 24.1.24 but GLENCORE has at the NORTH OF MUSONI ie reports of contamination.
[8] IF RRR'S CENTRAL MUSONI JV HAS NO CONTAMINATION IE EXTREME RADIATION LIKE ZIJIN'S SOUTHERN COMMUS MUSONI [RRR's JV sits abutting Zijin and Glencore @Central Musoni], then WHAT ARE THE IMPLICATIONS.
[9] Is Glencore duty bound to now report in the next accounts and what treatment is going to be reported ie impairment or reserves for impairment. HOW DOES IT AFFECT GLENCORE'S COPPER EXPORTS FROM DRC of which some will be coming from the RRR JV MUSONI [CENTRAL PART].
[10]-----------------ALL EYES WILL BE ON MUSONI NOW GIVEN IT IS A BIG EXPORTER OF DRC COPPER @COPPER MINING DISTRICT.----------------RRR JV WILL BE NOW ON THE MAP AND HIGHLIGHTED LOL. Not something that others will like?
-----------WILL GECAMINES NOW FAST TRACK THE $10M DRAFT AWARD IE ASK JUDGE TO GIVE THE RULING NOW THAT THER EIS AGREEMENT ? DRC MINISTERS SHOULD NOW BE IN OFFICE AND DECISIONS CAN BE TAKEN.
--------------IT IS NOW GETTING STICKY GIVEN THE WIDE PUBLICITY BLOOMS HAS GIVEN 10 HRS AGO RE ZIJIN MUSONI.---------NOW WELCOMED PUBLICITY FOR THE 2 MAJORS. RRR MAY HAVE TO REPORT TO SHAREHOLDERS be it RNS@Reach or RNS given the pending litigation outcome. How will now affect the litigation with the PUBLICITY OF MUSONI ON THE WORLD MINING MAP for major copper exports etc.? Getting interesting. Mr Bell, Chairman of RRR, over to you.
ANYTHING THAT AFFECTS MINING INCOME HAS TO BE REPORT
--------------MUSONI , DRC is a MINING D I S T R I C T -----------
Glencore's Kamoto @KCC has 2 of their own licences at Musoni Complex.
Cobalt is derived from the COPPER mining per the info.
COPPER PRICES ARE RISING AND IN SUPPLY DEFICIT OR GOING INTO IT SHORTLY?
BLOOMS COVERED THE STORY BUT it is on subscription so I got it from the Rwanda news. From the reporting, sounds like it was derived from Blooms etc?
BIG IMPLICATIONS AND BIG MONEY INVOLVED NOW.
ZIJIN OWNS COMMUS, MUSONI, above is RRR CENTRAL MUSONI.
GLENCORE being a listed public co will have to comment on this latest news re: Zijin's COMMUS, Musoni.
GECAMINES, THE STATE MINE IS ALL OVER IT NOW AT COMMUS AND IT AFFECTS EXPORTS and recall etc per the article just out. DRC govt will know due to Gecamines is state owned.
So, what is Glencore going to say and what is RRR'S RESPONSE given LITIGATION OUTCOME IS NOW DUE of $10m and potential litigation to come? What does GECAMINES SAY?
---------------------Await Mr Bell, Chairman of RRR re: Musoni Central @DRC-----------
subject to litigation and outcome awaited for $10m. Also , comment by RRR on the Zijin COMMUS article which is from Blooms as well. So, far, that is ALL in the public domain. Sat, 20.4.24.
---------------GOT THE MAP OF DRC OF KCC [KAMOTO, GLENCORE & ZIJIN COMMUS-------------
ALSO, GOT THE CONTAMINATION MAP overlayed on the map above.
Link: https://news.mongabay.com/2024/03/global-cobalt-rush-drives-toxic-toll-near-drc-mines/ 27 Mar 2024.
---GLENCORE @KCC HAS 3 LICENCES:
ZIJINS COMMUS IS AT THE BOTTOM OF THE KCC licence ie Central.
KCC@GLENCORE 's top 2 licences have CONTAMINATION REPORTED [sign in red on map].
==========LOL, NOTHING ON RRR'S CENTRAL MUSONI===ABUTING 2 KCC LICENCES@ MUSONI.
So, that is FROM THE MAP dated 27.3.24 ==FOR THE AVOIDANCE OF DOUBT. GOING TO BE INTERESTING TO SEE WHAT GLEN SAYS. ? But nothing on the map re: CENTRAL MUSONI -see Proactive Investors 2019 JV article below.
Ref: "Red Rock Resources says cobalt/copper joint venture in the Democratic Republic of Congo now fully effective."-Proactive Investors, UK, 6 Mar 2019.
"Initial focus on the old MUSONI SUPERPIT. CENTRAL PART. GLENCORE 'S KOV MINE represents the WESTERN PART, abutting our Western boundary, and the same co's T17 MINE REPRESENTS the EASTERN PART, adjoining us to the East, is our immediate focus."
That is the RRR VUP JV in the DRC. So, awaiting news from RRR on the above. Interesting. Sat, 20 Apr 2024.
Title to search: " DRC'S COPPER MINE SHUTDOWN OVER EXCESSIVE RADIATION."- TAARIFA RWANDA, 11 hrs ago, Sat, 20.4.24
"Details also indicate that operations at Zijin's copper and cobalt mine have been suspended due to worries about excessive radiation in the COBALT."
"The La Compagnie Miniere de MUSONIE project , known as COMMUS in DRC has been shut down over grave concerns of extreme radiation a/c to sources familiar with the matter. Govt officials present at COMMUS overseeing the suspension of production and testing of cobalt shipments that were BLOCKED and RETURNED AFTER BEING EXPORTERED, PEOPLE SAID." "Zijin owns 72% of COMMUS and Gecamines controls the balance."
Thanks HO5. Thanks Helpful.
Zijin's copper and cobalt mine has SHUT down due to contamination from the cobalt ie too high radiation.
They have a French name for it but in English it is MUSONI.
But there are many parts to MUSONI as it is a complex and KAMATO owns part of Musoni. Kamoto mine is the local sub of the Big G. Bloom is via sub so I got the info from a Rwanda site. Ah so, IF, Kamoto's copper , cobalt mine is NOT affected , then good news for obvious reasons.
Do you mean the suspension of mining? They did the same thing about two years ago.
The news just came out 11 hrs ago.
Blooms also just covered it.
Helpful?