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DRC President Promulgates $18 Billion Finance Law for 2025 1 Mining in DRC Economy Governance 

DRC President Promulgates $18 Billion Finance Law for 2025

Constance
On December 22, 2024, President Félix Tshisekedi of the Democratic Republic of Congo (DRC) officially promulgated the Finance Law for the 2025 fiscal year. The budget, unanimously adopted by both chambers of the Congolese Parliament, totals 51,553.54 billion Congolese francs (CDF), equivalent to approximately $18 billion at the budgetary exchange rate. The 2025 budget marks a 25.8% increase from the previous year, underscoring the government’s commitment to enhancing internal resource mobilization and optimizing financial authority performance. This significant growth reflects confidence in the national economy and bolsters the government’s credibility… Read More Here
Japan Commits $15 Million to Rehabilitate Maréchal Bridge in the DRC 2 Mining in DRC Infrastructural Development 

Japan Commits $15 Million to Rehabilitate Maréchal Bridge in the DRC

Constance
On December 23, 2024, the Japanese government announced a $15 million investment to rehabilitate the Maréchal Bridge in Matadi, located in Kongo Central province. The commitment was formalized by Japan’s Ambassador Extraordinary and Plenipotentiary to the Democratic Republic of Congo (DRC), Ogawa Hidetoshi, during a cooperation agreement signing ceremony in Kinshasa. Ambassador Ogawa emphasized that the rehabilitation of the bridge and its access roads will significantly enhance the living conditions of Kongo Central residents. The project will also improve the flow of transport on this strategic route, which is critical… Read More Here
Temporary Suspension of Mining Operations at Kagem Due to Damaged Emerald Market 3 Mining in Zambia Emeralds 

Temporary Suspension of Mining Operations at Kagem Due to Damaged Emerald Market

Constance
Kagem Mining Limited (“Kagem”) announces the temporary suspension of mining operations at Kagem. This decision is a direct consequence of disturbed emerald market dynamics arising from an oversupply of Zambian emeralds at discounted prices during the second half of 2024, compounded by conflicting emerald auction dates between the key Zambian emerald producers and giving rise to a destabilised Zambian emerald market outlook for at least the first half of 2025. These market dynamics are evidenced by the disappointing auction results from Kagem’s last commercial and higher-quality auctions held in September… Read More Here
Central Bank of Congo Reports Mixed Trends in Commodity Prices for December 2024 4 Mining in DRC Economy 

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

Constance
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 5 International Corporate News News in Brief 

Vedanta to exclude base metals business from sweeping demerger

Constance
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 6 Artisanal mining Mining in DRC 

Nioka Mining Site Freed from Illegal Occupation by Artisanal Miners

Constance
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 7 Mining in DRC 

Seventeen Chinese Migrants Arrested for Illegal Mining in South Kivu

Constance
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 8 Mining in DRC Corporate News 

Gécamines Workers Strike Over Illegal Occupation of Djambelwa Copper Deposit

Constance
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 9 Mining in DRC Economy Gold 

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

Constance
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 10 Mining in DRC Economy Tin 

Surge in Tin Prices Boosts DRC’s Export Economy

Constance
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

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