DRC Shared Prosperity - President yesterday23 Nov 2024 07:50
If you search the net, the DRC President has had a busy few days, diary full, no doubt why Bell has returned to the U.K. to attend to other business.
Interesting that he re-opened this major mine yesterday:
"The reopening of the Kipushi mine represents not only a milestone for sustainable resource development but also a promise of economic empowerment for our local communities. Today, we are breathing a new life into one of the world's richest deposits, together proving that responsible mining can drive shared prosperity.”
https://m.miningweekly.com/article/tshisekedi-officially-reopens-ivanhoes-kipushi-mine-2024-11-21
If you listened to some of those video blogs whilst Bell was in Kinshasa in between presidential meetings, he was talking about a large licence currently being discussed, ready to go from day one etc Another mine, this time copper/cobalt soon to re-open? RRR involved? Very possibly imo. Plus other licences opportunities he also mentioned. He highlighted the same shared prosperity point (mentioned yesterday), but this time by exchanging royalty payments for social housing infrastructure. It demonstrates Bell is in tune with the future vision that President Félix Tshisekedi is now seeking to instil in his new presidential term.
As Bell pointed out (and obvious to see) trust is a massive factor doing mining (or any) business in the DRC and takes time to build a working business relationship. Bell gives the impression from those interviews that their relationship is on a good standing and improving all the time.
So, hopefully RRR will secure something more than company making in their current discussions with the President Office. As Bell has said on both recent trips to Kinshasa, it is not necessarily a place you would choose to visit but the reward could be very worth it.
Forgot the DRC arbitration, of course, no where near the size of the prize above but hopefully this will be sorted very soon. Bell sounded upbeat in his X post yesterday. Plus POW seem happy to extend the timing.
Hopefully something to discuss soon.
Good luck all holders.