You are here

Written by 

Central Bank of Congo Reports Mixed Trends in Commodity Prices for December 2024 1 Mining in DRC Economy 

Central Bank of Congo Reports Mixed Trends in Commodity Prices for December 2024

Constance0 comment
The Central Bank of Congo (BCC), in its economic report for the second week of December 2024, highlighted varied price trends for major commodities as of December 12, 2024. Key Commodities Performance International food commodity prices generally showed a downward trend: The BCC report underscores the diverse performance of raw materials, with some commodities like gold and copper maintaining year-on-year growth, while others like cobalt and staple foods have seen declines. These trends reflect shifting global market dynamics and their impact on the DRC’s economy. Read More Here
Vedanta to exclude base metals business from sweeping demerger 2 International Corporate News News in Brief 

Vedanta to exclude base metals business from sweeping demerger

Constance0 comment
Indian miner Vedanta will not carve out a separate listed unit for its base metals business, it said last week, after discussing the matter with its stakeholders and lenders. Vedanta, led by billionaire Anil Agarwal, had last year launched a sweeping overhaul to carve itself up into six separate businesses, in a move aimed at shoring up the group’s financial performance. The company will consider the base metals business demerger at a later stage, it said in an exchange filing, adding that the share entitlement ratio for the demerger of… Read More Here
Nioka Mining Site Freed from Illegal Occupation by Artisanal Miners 3 Artisanal mining Mining in DRC 

Nioka Mining Site Freed from Illegal Occupation by Artisanal Miners

Constance0 comment
After two weeks of illegal occupation, the Nioka mining site was finally liberated on Thursday, December 19, 2024, following the deployment of the Armed Forces of the Democratic Republic of Congo (FARDC). The operation’s success was confirmed by multiple media outlets in Lualaba. While police intervention led to violent clashes, sources report that the artisanal miners voluntarily vacated the site after demolishing the walls of the fence. The FARDC had been stationed in the area on orders from the provincial authorities to prevent further incursions, according to Maître Christian Kakele,… Read More Here
Seventeen Chinese Migrants Arrested for Illegal Mining in South Kivu 4 Mining in DRC 

Seventeen Chinese Migrants Arrested for Illegal Mining in South Kivu

Constance0 comment
Seventeen Chinese migrants, found staying illegally in South Kivu province, were presented to the press in Bukavu, the province’s capital, on Friday, December 20, 2024. Bernard Muhindo, the Provincial Minister of Finance, explained that the migrants were discovered working in the mines of Walungu territory, specifically at a gold mine in Karhembo. They lacked the required documentation and were working for a company without an operating permit, thus violating Congolese regulations. Muhindo criticized the fact that these migrants were benefiting from the profits of Congolese mines, while the local population… Read More Here
Gécamines Workers Strike Over Illegal Occupation of Djambelwa Copper Deposit 5 Mining in DRC Corporate News 

Gécamines Workers Strike Over Illegal Occupation of Djambelwa Copper Deposit

Constance0 comment
Gécamines agents in Likasi, Haut Katanga province, have been on strike for three days, protesting the illegal occupation of a copper deposit by a mining cooperative. Etienne Musinde, President of the union delegation, explained to the foreign press, “Given that most of our deposits have been leased, the Djambelwa deposit has become crucial for Gécamines. It must be used to restart production in Likasi. While exploration is underway at Djambelwa, a cooperative called ‘Salama’ has been forcibly installed, with military backing, halting all Gécamines activities at the site.” The workers… Read More Here
Gold Price Increase Supports DRC's Economic Growth Amid Global Uncertainty 6 Mining in DRC Economy Gold 

Gold Price Increase Supports DRC’s Economic Growth Amid Global Uncertainty

Constance0 comment
The price of gold, the Democratic Republic of Congo’s (DRC) leading export mineral, experienced a modest increase during the week of December 16 to 21, 2024. According to data from the National Commission of Mercuriales, part of the Ministry of Foreign Trade, the price of a gram of gold reached $86.05, reflecting a 0.66% increase compared to the previous week. This rise can be attributed to several factors, including increased demand for gold as a safe-haven asset amid global economic uncertainties. As a key source of revenue for the DRC,… Read More Here
Surge in Tin Prices Boosts DRC's Export Economy 7 Mining in DRC Economy Tin 

Surge in Tin Prices Boosts DRC’s Export Economy

Constance0 comment
The Democratic Republic of Congo (DRC) has recently witnessed a significant rise in tin prices, a vital mineral for its export economy. According to the National Commission of Mercuriales, part of the Ministry of Foreign Trade, the price of tin reached $28,998 per ton between December 16 and 21, 2024, reflecting a 3.28% increase from the previous week’s price of $28,078. This upward trend in international markets could bring positive effects on the income of Congolese exporters and the overall national economy. The rise in tin prices comes amid growing… Read More Here
Tshisekedi Urges Faster Progress on Key Infrastructure Projects with Chinese Enterprises Group 8 Mining in DRC Infrastructural Development 

Tshisekedi Urges Faster Progress on Key Infrastructure Projects with Chinese Enterprises Group

Constance0 comment
On Friday, December 20, in Kinshasa, President Félix Tshisekedi held a working session with the Chinese Enterprises Group (GEC) to evaluate the progress of road construction projects under the Minerals for Infrastructure Program. The President urged his partners to accelerate the work. Freddy Shembo, Director General of the Agency for the Steering, Coordination, and Monitoring of Collaboration Conventions, briefed the press on the session’s outcome. He noted that the meeting focused on identifying necessary adjustments to expedite ongoing projects and implement effective mechanisms. “These projects are crucial for the Head… Read More Here
Glencore in Talks to Sell Philippine Copper Smelting Unit Amid Historic Low Processing Fees 9 International Corporate News 

Glencore in Talks to Sell Philippine Copper Smelting Unit Amid Historic Low Processing Fees

Constance0 comment
Glencore Plc is in discussions to sell its copper business in the Philippines, the Philippine Associated Smelting and Refining Corp. (Pasar), as the global smelting industry faces record-low processing fees. According to sources familiar with the matter, who requested anonymity due to the private nature of the talks, Glencore is negotiating with at least one domestic buyer. However, the outcome of these discussions remains uncertain. Pasar has been a key asset for Glencore due to its strategic location, serving as an important outlet for copper concentrates from Australian and Indonesian… Read More Here
Copper Stockpile at Panama’s Closed Cobre Mine Deemed Safe for Now 10 International Copper 

Copper Stockpile at Panama’s Closed Cobre Mine Deemed Safe for Now

Constance0 comment
Over 100,000 metric tons of copper concentrate remain stored at First Quantum Minerals’ Cobre Panama mine, which has been closed since November following a Panamanian Supreme Court ruling that invalidated the company’s contract. Panamanian President Jose Raul Mulino assured on Thursday that the stockpile currently poses no environmental risk. Cobre Panama, a major global source of copper, was shut down after environmental protests led to the court’s decision. Since then, global commodity markets have closely monitored Panama’s stance on the fate of the 130,000 tons of copper concentrate left behind.… Read More Here

You have successfully subscribed to the newsletter

There was an error while trying to send your request. Please try again.

Copperbelt Katanga Mining will use the information you provide on this form to be in touch with you and to provide updates and marketing.