Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Democratic Republic of Congo’s state miner Gecamines said on Monday it will ship for the first time germanium concentrates to Europe from its Big Hill tailings dump.
The concentrates, made in a new plant in the mining hub of Lubumbashi, will be shipped to Umicore in Belgium for further processing and use in high-tech applications, Gecamines said in a statement.
“This inaugural shipment of germanium confirms our ambition, nurtured over several years, to make Congo a global hub for strategic metals,” Gecamines chairman Robert Lukama said in the statement.
Umicore signed a deal with Gecamines for the concentrates in May, helping the new plant, which processes waste material from the tailings site, to ramp up output.
The agreement also helps Umicore diversify its sources of supply for germanium, a rare mineral used in chipmaking, infrared technology, fibre optic cables and solar cells.
(By Felix Njini)
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