African Mining February 2022 | Page 31

IN THE STOPE • an organisation which covers the entire austral region of Africa including the DRC . These are the South African Code for the Reporting of Exploration Results , Mineral Resources and Mineral Reserves ( SAMREC ), and the South African Code for the Reporting of Mineral Asset Valuation ( SAMVAL ).

“ A reporting code guides companies in meeting standardised data collection procedures , as well as in processing and publishing results from that data ,” he said . “ This is important when it comes to auditing , and to proving that data is verified – especially for funding of mining projects .”

Foundation for DRC mining It is for this reason that the question of standards , compliance and data veracity are directly linked to the future of mining in the DRC . He noted that financing is a serious challenge to mineral development in the DRC , as there are few internal funding sources and no local stock exchange . Capital must therefore be raised outside the country , and it is often the risk-tolerant junior mining companies that have embarked on exploration programmes . “ Ideally , the country would develop an inventory of unexplored mineral resources , requiring government to initiate vast prospecting campaigns ,” he said . “ The resulting data could then be made available to mining companies wishing to undertake exploitation works .”

Whichever route is taken , the key consideration remains the trust of investors in the veracity of the information which is published on exploration and mining results . He noted that the past two decades have been characterised by the privatisation of mines by the Congolese government – and , with privatisation , codification has been increasingly required by investors who needed to finance their projects .

Codes to tap potential “ With most investors being from foreign countries , they have relied on consultants to sign off on exploration data in terms of the geocodes relevant to the country on whose stock exchange they were listed ,” said Sambwa .

Today , legislation in the DRC requires that more professional services are conducted by companies owned locally . This also highlights the need for local geological professionals to be aligning their work to the relevant geocode . While state-owned mining companies like Gécamines had their own internal policies regarding geological assessment , international investors usually require alignment with a code recognised by the Committee for Mineral Reserves International Reporting Standards ( CRIRSCO ).

“ The DRC is well-known for its minerals , with world-class deposits not just in copper and cobalt but in tin , tantalum and lithium in the east , gold in the north-east , and diamonds in the central zone ,” he said . “ This wide range of targets still hold great potential for large and small mining companies , as long as there is confidence at the exploration stage .”

Looking ahead In his role as chairman of SRK Consulting Congo , Sambwa looks forward to extending the company ’ s involvement in the DRC ’ s mineral development . While it has traditionally served the major mining players , he said SRK is reaching out to smaller operations too . It is also working with state-owned mining companies to review results for optimal transparency .

“ While mining has been SRK ’ s focus in many countries , our multidisciplinary teams of engineers and scientists have for many years delivered services in fields such as water management , environment , social and governance ( ESG ), infrastructure and energy ,” he said . “ We will continue to diversify our service offerings in the DRC – to help build an inclusive and sustainable economy .” He also highlighted the importance of building local expertise and capacity , with an office already employing over a dozen Congolese professionals and administrators . •

It is for this reason that the question of standards , compliance and data veracity are directly linked to the future of mining in the DRC .