Economy - Copperbelt Katanga Mining

Zambia’s Economy Surpasses Growth Forecasts Amid Strong Q4 Performance 1

Zambia’s economy outperformed expectations in 2023, exceeding growth forecasts from both the government and the International Monetary Fund (IMF), driven by a sharp rise in fourth-quarter output. According to preliminary data, the country’s gross domestic product (GDP) grew by 4% in 2023, down from 5.4% in 2022, acting Statistician-General Sheila Mudenda announced on Thursday. This figure far exceeded the IMF’s projection of 1.2% and the estimates of President Hakainde Hichilema’s administration, Bloomberg reported. The economy recorded an impressive 8.6% growth in the last quarter—the fastest pace in over a decade—bolstered… Read More Here

Mining in Zambia Economy

Bank of Zambia to Launch New Kwacha Banknotes on March 31

March 28, 2025March 28, 2025 Constance0 comment

The Bank of Zambia will introduce a new family of Kwacha banknotes on Monday, March 31, making them immediately legal tender while beginning the gradual phase-out of the existing designs. The new series includes the 500, 200, 50, 20, and 10 Kwacha notes, featuring: According to Kagolis Mwamulowe, Director of the National Heritage Conservation Commission, the new notes highlight Zambia’s unique natural heritage, including its diverse flora and fauna. Leonard Mwanza, CEO of the Bankers’ Association of Zambia, reassured the public that banks and ATMs are fully prepared for the… Read More Here

Mining in Zambia Economy

Zambia Records First Inflation Decline in Over a Year

March 27, 2025March 27, 2025 Constance0 comment

For the first time since July 2023, Zambia’s annual inflation rate has declined, offering some much-needed economic relief. Reports indicate that in March 2025, inflation dropped to 16.5%, down from 16.8% in February. The announcement was made by Acting Statistician-General Sheila Mudenda on Thursday in Lusaka. A key driver of the decline was a drop in food prices, particularly for essentials such as bread and cereal. This was largely due to increased rainfall following one of the worst droughts in nearly a century. Food price inflation fell to 18.9% in… Read More Here

Mining in Zambia Economy

Zambia Secures $120 Million from World Bank to Boost Digital Infrastructure and Innovation

March 26, 2025March 26, 2025 Constance0 comment

Zambia has secured $120 million in funding from the World Bank’s Digital Development Partnership to advance its Digital Public Infrastructure (DPI) agenda, Minister of Science and Technology Felix Mutati announced. Speaking at the Global Digital Summit in Washington, D.C., Mutati highlighted that the funds will support AI development, expand connectivity, and promote digital skills training. This financial support builds on Zambia’s Digital Zambia Acceleration Project (DZAP), which previously received $100 million from the World Bank to develop a strong digital ecosystem for public service delivery. Mutati emphasized the importance of… Read More Here

Mining in DRC Economy Tin

DRC’s Tin Exports Surge in 2024 Amid Growing Global Demand

March 26, 2025March 26, 2025 Constance0 comment

The mining sector in the Democratic Republic of Congo (DRC) saw significant revenue from tin exports in 2024. According to the Ministry of Mines’ annual report, the country exported 42,953 tonnes of tin, generating an estimated USD 512.9 million in revenue from international markets. As a major player in the global tin market, the DRC continues to assert its dominance, particularly in the electronics and metallurgical industries. Of the total exports, industrial production accounted for 27,100.10 tonnes, bringing in around USD 350.2 million. The Alphamin Bisie company leads the sector,… Read More Here

Diamond Economy Mining in DRC

DRC Diamond Exports Generate $89 Million in 2024 with Significant Growth in Volume

March 26, 2025March 26, 2025 Constance0 comment

Diamond exports from the Democratic Republic of Congo (DRC) generated $89 million in revenue in 2024, according to the latest statistics from the Ministry of Mines. The total exports amounted to 9,240,714.14 carats during the year. An analysis of the Ministry’s 2024 annual report reveals a growth of 11.26% in diamond exports compared to 2023, when exports totaled 8,305,796 carats. The report indicates that artisanal mining dominated diamond production in the DRC, with over 6,353,613.89 carats produced, yielding $56.2 million in revenue. Among the key artisanal diamond counters, MALABAR led… Read More Here

Gold Artisanal mining Economy Mining in DRC

DRC Gold Exports Reach $1.5 Billion in 2024 Despite Decline in Artisanal Mining

March 26, 2025March 26, 2025 Constance0 comment

The Democratic Republic of Congo (DRC) exported a total of 27.9 tonnes of gold in 2024, generating approximately $1.5 billion in revenue, according to the annual report from the Technical Unit for Coordination and Mining Planning of the Ministry of Mines. Kibali Gold was the leading contributor, accounting for more than 26 tonnes of gold worth over $1.3 billion. In contrast, MCCR exported only 102.92 kg, generating an estimated $7.6 million in revenue, while Kimia Mining exported 5.72 kg, yielding $496,589. Kibali Gold remains the dominant force in the DRC’s… Read More Here

Mining in DRC Battery Metals Cobalt Economy

DRC Extends Cobalt Export Ban to Boost Market Control and Local Processing

March 26, 2025March 26, 2025 Constance0 comment

President Félix-Antoine Tshisekedi has reaffirmed the Democratic Republic of Congo’s (DRC) commitment to maintaining the suspension of cobalt exports, as per the timetable set by the Strategic Mineral Substances Market Regulatory and Control Authority (ARECOMS) since February 22, 2025. The decision was confirmed during the 36th Council of Ministers meeting on March 21. “To safeguard the state’s strategic interests and enhance the sector’s economic attractiveness, the President has directed that the suspension of exports remain in place in accordance with ARECOMS’ decisions,” the government reported. Tshisekedi highlighted the suspension’s success,… Read More Here

Copper Cobalt Economy Mining in DRC

Congo’s Copper and Cobalt Export Suspension Impacts Prices

March 22, 2025March 22, 2025 Constance0 comment

The Central Bank of Congo (BCC) reported on March 19, 2025, a 3.3% decline in the price of copper per tonne compared to December 2024. This drop is attributed to concerns over the Congolese government’s suspension of copper exports to the global market. Since February 22, 2025, the price of copper has continued to decrease, by a 0.15% drop compared to the previous week. The BCC noted that copper prices have fallen by 11.97% since the end of December 2024 and have seen a staggering 60% decline over the past… Read More Here

Mining in DRC Copper Economy

DRC’s Copper Exports Hit Record 3.1 Million Tonnes in 2024

March 13, 2025March 18, 2025 Constance0 comment

For the first time in its mining history, the Democratic Republic of Congo (DRC) exported a record 3.1 million tonnes of copper in 2024, according to a March 6 report from the Congolese Ministry of Mines. This represents a 13% increase from 2023, driven by strong performances from the country’s largest copper mines. Key Contributors to Growth Copper exports from the DRC could grow further in 2025, supported by a 3.7% increase in global demand, as forecasted by Commodity Insights. Additionally, the CRU Group estimates that the DRC’s copper output… Read More Here