Economy - Copperbelt Katanga Mining

AFC Secures $320 Million Deal with Italy to Boost Angola’s Lobito Corridor

June 10, 2025June 10, 2025 Constance

Africa Finance Corporation (AFC), a Lagos-based continental financier, will soon sign a $320 million financing agreement with Italy, part of which will support the development of a new transport corridor linking critical mineral fields in central Africa to Angola’s Lobito port, according to AFC CEO Samaila Zubairu. AFC, owned by African central banks and development lenders, is the financing partner for the U.S.-backed Lobito Corridor project. The corridor aims to connect the Atlantic port of Lobito in Angola with mineral-rich regions in Zambia and the Democratic Republic of the Congo,… Read More Here

Mining in Zambia Copper Corporate News Economy

FQM Injects $2.6 Billion into Zambia’s Economy in 2024

June 8, 2025June 8, 2025 Constance

First Quantum Minerals (FQM) contributed over $2.6 billion to Zambia’s economy in 2024 through its operations at the Trident and Kansanshi mines in North-Western Province, according to the company’s latest Global Tax Transparency and Economic Contributions Report. The report reveals that FQM paid $650 million in taxes, spent $1.75 billion on local procurement, disbursed $236 million in wages to local employees, and invested $13 million in community development initiatives. In terms of output, the two mines produced 402,000 tonnes of copper and 19,000 tonnes of nickel last year. FQM continues… Read More Here

Mining in Zambia Copper Economy

Zambia’s Refined Copper Exports Rise 17.6% in Q1 as Output Expansion Accelerates

June 8, 2025June 8, 2025 Constance

Zambia’s refined copper exports reached 283,500 tonnes in the first quarter of 2025, marking a 17.6% increase compared to 241,000 tonnes during the same period last year, according to newly released data. The positive trend is reflected in monthly growth figures, with exports rising from 71,200 tonnes in March 2025 to 72,300 tonnes in April—an increase of 1.6%. This steady growth supports the Zambian government’s ambitious target of producing 3 million tonnes of copper annually by 2031. The objective is part of a broader strategy to maximize the economic benefits… Read More Here

Mining in Zambia Economy

Govt and Zambia Chamber of Mines Reach Agreement on Local Content Regulations

June 7, 2025June 7, 2025 Constance

The Ministry of Mines and Minerals Development and the Zambia Chamber of Mines have reached an important agreement on the draft Statutory Instrument (SI) concerning Local Content in the mining sector. The two parties have agreed that the draft SI will now move to the next stage of development, following a series of amendments discussed and accepted during a meeting held in Lusaka earlier today. In a joint statement signed by Zambia Chamber of Mines President Anthony Malenga and Ministry of Mines Permanent Secretary Hapenga Kabeta, both sides expressed satisfaction… Read More Here

Mining in DRC Economy

DRC to Audit State Interests in Mining Sector Amid Transparency Concerns

June 3, 2025June 3, 2025 Constance

In response to mounting pressure on public finances, the government of the Democratic Republic of Congo (DRC) is set to audit the state’s shareholdings in mining companies. During the Council of Ministers meeting held on May 30, 2025, President Félix Tshisekedi called for the swift establishment of an ad hoc commission to undertake this task, according to the official report from the session. The commission, to be coordinated by the Ministries of Finance, Mines, and State Portfolio, will be responsible for conducting a comprehensive audit of mining assets under state… Read More Here

Mining in DRC Economy Infrastructural Development

DRC United States Mining Deal to Finance 58 Billion USD Infrastructure Plan

May 31, 2025May 31, 2025 Constance

The Democratic Republic of Congo (DRC) has unveiled a $58 billion master plan aimed at rebuilding and modernizing its critical infrastructure, as part of a broader $500 billion mega-partnership announced with the United States. The plan was presented on Tuesday, May 27, 2025, by Minister of Foreign Trade Julien Paluku during a high-level discussion on national investment priorities. “I am proposing a structured master plan worth $58 billion, focusing on priority projects such as national, provincial, and agricultural roads,” said Paluku. The Minister emphasized that targeted investments in key sectors… Read More Here

Mining in DRC Economy

DRC Urged to Shift Focus from Mining to Agriculture for Inclusive Growth

May 31, 2025May 31, 2025 Constance

KINSHASA – During a special briefing held on Tuesday, May 27, 2025, in Kinshasa, the Democratic Republic of Congo’s Minister of Foreign Trade, Julien Paluku Kahongya, called for a strategic shift from the mining sector to agriculture, arguing that mining has failed to translate into improved household incomes. Paluku emphasized that despite the country’s vast mineral exports, particularly cobalt and copper, the economic benefits have not reached ordinary citizens. “For some time now, our foreign trade has been underperforming. We realize that the DRC has not truly benefited from the… Read More Here

Mining in DRC Economy

DRC Central Bank Imposes Hefty Fines to Enforce Export Revenue Repatriation

May 25, 2025May 25, 2025 Constance

The Central Bank of Congo (BCC) has significantly tightened its regulations on mining and oil companies, dramatically increasing fines for non-compliance with foreign exchange rules. According to a memo from AKILI Consulting—which advises major operators like Kamoa Copper and Kibali Gold—penalties for failing to declare foreign bank account details have surged over 1,000%, jumping from CDF 5,000,000 to CDF 58,680,000 (about $1,786 to $20,957). In addition to these hikes, the BCC has introduced stricter sanctions. A false declaration of accounts now carries a fine of CDF 234,720,000, while transfers made… Read More Here

Economy International

Brazil Central Bank Doubts BRICS Will Dethrone the US Dollar Within a Decade

May 25, 2025May 25, 2025 Constance

Brazil’s central bank has cast doubt on the likelihood of BRICS nations displacing the U.S. dollar as the dominant global currency within the next decade. Nilton David, Director of Monetary Policy at Brazil’s Central Bank, stated during a recent webcast that, despite the growing economic strength of the BRICS bloc, there is no realistic scenario in which the group could build financial systems or markets large enough to challenge the global dominance of the dollar. “There is not a meaningful stock of BRICS-denominated assets that could offset the dollar at… Read More Here

Mining in Zambia Copper Economy

Zambia Urged to Align Key Sectors with Mining Ambitions for Sustainable Growth

May 20, 2025May 20, 2025 Constance

Zambia’s push to ramp up copper production must be matched by coordinated policy efforts across other critical sectors if the country is to achieve its broader economic development goals, says economic analyst Kelvin Chisanga. While mining remains the backbone of Zambia’s economy, Mr. Chisanga warned that national progress cannot rely on mining alone. He stressed the need to strategically align sectors such as health, tourism, manufacturing, agriculture, transport, and logistics to support and sustain projected mining gains. “Mining output targets demand similar policy interests, efforts, and patterns across other sectors.… Read More Here