OnJune 16^th, 2018, the opening ceremony of the Congo (Kinshasa)Chinese Mining Enterprises Association (USMCC) was grandly held in the GrandLawn of KARAVIA Hotel in Lubumbashi, Haut-Katanga Province, which opened a newchapter in united cooperation of Chinese mining enterprises in Congo. Over 100people including Wang Tongqing, China’s ambassador to Congo (Kinshasa), Bender,the governor of Haut-Katanga Province, Muyejie, the governor of Lualaba Province, and theleadership of the member companies of USMCC attended the ceremony. As afounding member, Congo (Kinshasa) Shituru Mining Corporation (SMCO) of PengxinMining, was successfully elected as the director unit of the association.

Chinese mining enterprises in Congo have madesignificant contributions to the socio-economic development and marketprosperity of Congo (Kinshasa) over the years of their hard work. Theestablishment of the association has found a real “home” and “organization” forall Chinese mining enterprises in Congo. After the establishment of theassociation, it will not only give full play to the function as a bridge of thetwo governments in communicating with Chinese mining enterprises, but alsofacilitate the exchange, cooperation and resources sharing among Chinese miningenterprises. In recent years, Chinese enterprises have invested heavily inKatanga and have acquired most of the mining rights in Katanga as some westernmining enterprises withdrew form the area successively. The establishment ofthe association represents the inevitable demand of the rapid development ofChinese mining enterprises. 

Construction Site of SMCO Cobalt Project

Shituru Mining Corporation (SMCO) has become akey member of the Chinese mining enterprises in Katanga after 10 years of hardwork since Pengxin Mining’ investment in the development of mining industry inCongo (Kinshasa) in 2008. Since its construction in 2012, the annual output ofcathode copper has remained stable at about 30,000 tons, and its products areknown as “the best quality cathode copper in Africa”. In September 2017, thegroundbreaking ceremony of the SMCO cobalt project and the commencementceremony of cobalt ore trading center were held grandly, which blew the horn ofbuilding a nonferrous metal industrial chain of Pengxin Mining. The firstcobalt production line is expected to be completed in the fourth quarter ofthis year to provide crude cobalt hydroxide products which are in short supplyin the market. At the meantime, with the aim to ensure the sustainabledevelopment of SMCO in Congo (Kinshasa), SMCO has signed a 25-year leasedevelopment agreement with Congo (Kinshasa) Gecamines on PE1078 copper-cobaltmine, and also signed a comprehensive underwriting agreement with Congo(Kinshasa) VICENT Mining in the first half of this year, so as to provide strategicresource reserve for the long-term development of SMCO. At the opening ceremonyof the association, representative of Congo (Kinshasa) government expressedtheir gratitude to numerous well-known Chinese mining enterprises includingSMCO for their contributions to the economic development of Congo (Kinshasa)over the years.

He Yin, General Manager of SMCO (the second from left), and YuShenghan, Executive Vice President (the first from left) attended the openingceremony of the association.