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DRC Ratifies Hydrocarbon Cooperation Agreement with Uganda 1 Mining in DRC Oil & Gas 

DRC Ratifies Hydrocarbon Cooperation Agreement with Uganda

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Following approval by both the National Assembly and Senate during the September session, Law No. 24/022 of December 30, 2024, authorizing the ratification of a cooperation agreement on the exploitation of hydrocarbons and joint deposits between Uganda and the Democratic Republic of Congo (DRC), has been promulgated by President Félix-Antoine Tshisekedi. The announcement was made on Tuesday, December 31, 2024, through a series of orders broadcast on national television (RTNC). This ratified agreement, signed in Kampala on June 23, 1990, and January 25, 2008, was presented by Minister of Hydrocarbons,… Read More Here
Copper Prices Remain Volatile, Straining DRC's Economy 2 Mining in DRC Copper Economy 

Copper Prices Remain Volatile, Straining DRC’s Economy

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Copper, the Democratic Republic of Congo’s (DRC) main export product, continues to experience significant price fluctuations on international markets. According to the latest data from the National Commission of Mercuriales at the Ministry of Foreign Trade, the price of copper dropped to 8,824 US dollars per ton during the week of December 30, 2024, to January 4, 2025, marking a decrease of 1.33% compared to the previous week. This ongoing volatility is causing concern for the Congolese economy, which relies heavily on copper exports for revenue. Experts warn that these… Read More Here
DRC Reports Decline in Child Labor in Cobalt Mines Amid Controversy 3 Mining in DRC Artisanal mining Cobalt 

DRC Reports Decline in Child Labor in Cobalt Mines Amid Controversy

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In its report published on December 31, 2024, the National Human Rights Commission of the Democratic Republic of Congo (CNDH) highlighted a decrease in the number of children working in cobalt mines in the Haut-Katanga and Lualaba provinces. However, the reported figures have sparked controversy. Prior to 2019, it was estimated that 360,000 children were working in these mines, according to organizations such as UNICEF. In contrast, the Congolese government reported a much lower figure of 14,850 child laborers. The CNDH, after consultation with Mines.cd, now estimates that the total… Read More Here
Tin Price in the DRC Sees Modest Increase Amid Sustained Demand 4 Mining in DRC News in Brief Tin 

Tin Price in the DRC Sees Modest Increase Amid Sustained Demand

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The price of tin, the Democratic Republic of Congo’s (DRC) main export mineral, has experienced a slight rise this week. According to the latest figures from the National Mercurial Commission of the Ministry of Foreign Trade, the price of tin reached $28,637.50 per ton for the week of January 6 to 11, 2025. This marks a modest increase of 0.13% compared to the previous week. While the rise is small, it reflects ongoing strong demand for this essential metal, widely used in industries such as electronics and metallurgy. Read More Here
China Strengthens Export Controls on Battery Technology to Safeguard Strategic Advantage 5 International Battery Metals 

China Strengthens Export Controls on Battery Technology to Safeguard Strategic Advantage

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China has announced plans to tighten export controls on critical battery technologies, a move aimed at securing its supply chain and bolstering its dominance in the global new energy sector. The proposal, unveiled by the Ministry of Commerce in a notice seeking public feedback, highlights restrictions on technologies related to lithium refining and battery chemical production. This development follows earlier export bans on key materials like gallium, germanium, antimony, and superhard materials, targeting the United States and other markets. According to state-run Xinhua News Agency, the restrictions are intended to… Read More Here
KoBold Metals Raises $537 Million to Accelerate AI-Driven Mineral Exploration 6 Exploration Copper Corporate News New Mining Projects 

KoBold Metals Raises $537 Million to Accelerate AI-Driven Mineral Exploration

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KoBold Metals, a Berkeley-based mining and artificial intelligence (AI) start-up backed by Bill Gates and Jeff Bezos, has raised $537 million in its latest funding round. This Series C round values the company at $2.96 billion and was co-led by existing investor T. Rowe Price and Durable Capital Partners. Other participants included Gates’ Breakthrough Energy Ventures, Andreessen Horowitz, and new backers like StepStone. With total funding of $1 billion to date, KoBold is positioning itself as a leading competitor in the critical minerals sector, challenging China’s dominance. The company specializes… Read More Here
DRC and EU Forge Strategic Partnership for Sustainable Mineral Value Chains 7 Mining in DRC Partnership 

DRC and EU Forge Strategic Partnership for Sustainable Mineral Value Chains

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The Democratic Republic of Congo (DRC) and the European Union (EU) have formalized a strategic partnership roadmap to enhance the value chains of critical and strategic minerals extracted in the DRC. This milestone agreement, signed on December 11, 2024, in Brussels, Belgium, by DRC Minister of Mines Kizito Pakabomba and EU representatives, seeks to transform Congolese mineral resources into global opportunities. The agreement is structured around five main pillars: “This partnership heralds a new era for the Congolese mining sector, positioning our country as a vital supplier of critical minerals… Read More Here
Accountability Demanded in Illegal Mineral Exploitation Scandal Involving Chinese Nationals in DRC 8 Mining in DRC 

Accountability Demanded in Illegal Mineral Exploitation Scandal Involving Chinese Nationals in DRC

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The coalition “Congo is Not for Sale” (CNPAV) has expressed deep dismay over the unresolved case of Chinese nationals involved in the illegal exploitation of minerals in the Democratic Republic of Congo (DRC). In a press release addressed, CNPAV criticized the lack of transparency surrounding the incident, particularly the exfiltration of these individuals, allegedly facilitated by state authorities. The coalition described the incident as an act of corruption that reflects poor governance and mismanagement of public affairs. It warned that such practices deprive the Congolese people of critical resources needed… Read More Here
Zambia Among Africa’s Top 10 Fastest-Growing Economies for 2025 9 Mining in Zambia Economy 

Zambia Among Africa’s Top 10 Fastest-Growing Economies for 2025

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Zambia has been ranked among the top 10 African countries expected to experience significant Gross Domestic Product (GDP) growth in 2025, according to the latest World Economic Outlook report by the International Monetary Fund (IMF). The IMF projects a 6.6% GDP growth for Zambia, placing it sixth on the continent. This growth is anticipated to stem from the easing of adverse weather effects and supply chain constraints. The Economics Association of Zambia (EAZ) has endorsed the IMF’s projection, describing it as realistic due to the government’s implementation of long-term economic… Read More Here
Barrick Continues to Unlock Value Embedded in Its Asset Base 10 International Corporate News Gold 

Barrick Continues to Unlock Value Embedded in Its Asset Base

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Barrick is projecting a 30% growth in the production of gold-equivalent ounces from its existing assets by the end of this decade while it continues to unlock the value embedded in its portfolio. Mark Bristow says while Barrick was alert to potentially value-accretive opportunities generated by the consolidation of the industry, it had the rare luxury of doing so from an asset base that would support organic growth well into the future. “Five years ago, we set out to build a sustainably profitable gold and copper business focused on world-class… Read More Here

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