The mining company Alphamin announced today that its board of directors has made the difficult decision to temporarily cease mining operations at the Company’s Bisie tin mine in Walikale District, North Kivu Province of east-central Democratic Republic of the Congo (DRC) because of the advance of the M23.
This decision was made after insurgent militant groups have recently advanced westward in the direction of the mine’s location in the DRC occupying the towns of Nyabiondo on 9 March 2025, the capital of the Osso-Banyungu sector located ~110km northwest of Goma followed by Kashebere a further 13 km west of Nyabiondo on 12 March 2025.
“The safety of the Company’s employees and contractors remains its top priority and cannot be assured at the present time. All operational mining personnel are being evacuated from the mine site with only essential personnel to remain for the care, maintenance and security of the property”, says Alphamin in a statement.
The Company is encouraged by the recent announcement that direct peace talks on the conflict are scheduled to be held in Angola on March 18, 2025. The Company will closely monitor events as they progress with a view to moving personnel back to the mine site and resuming operations when it believes it can safely do so. The Company will provide further updates when appropriate.
The Company, majority owned by United States of America (US) entities, has appointed a US firm to lobby for US diplomatic intervention regarding these security threats. This matter is progressing.
The Company announced on January 17, 2025 that its financial results for the year ended December 31, 2024 would be released on or about March 14, 2025.
The Company is evaluating the impact of the temporary cessation of mining operations on these financial disclosures and will not be in a position to release these results on the timing previously planned but currently does not anticipate that these filings will be materially delayed. (End)