Economy - Copperbelt Katanga Mining

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

March 26, 2025March 26, 2025 Constance

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 Constance

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 Constance

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

Cobalt Economy Mining in DRC

Lualaba Civil Society Backs DRC’s Temporary Cobalt Export Ban to Stabilize Market

March 6, 2025March 6, 2025 Constance

Amid a sharp decline in cobalt prices, civil society organizations in Lualaba, in collaboration with the CASMIA-G ASBL platform, have assessed the government’s recent decision to temporarily suspend cobalt exports. This measure, enacted by the Regulatory and Control Authority for Strategic Mineral Substances Markets (ARECOMS), aims to curb oversupply and stabilize the market. Cobalt, classified as a strategic mineral under Article 7 bis of the Mining Code, is crucial to the Congolese economy. The majority of production comes from Lualaba and Haut-Katanga, sourced from both industrial mines and artisanal cooperatives.… Read More Here

Mining in DRC Cobalt Economy

Cobalt Prices Surge Following DRC’s Export Suspension

March 5, 2025March 5, 2025 Constance

On February 28, 2025, the price of cobalt oxide on the Shanghai Metals Exchange rose to €16,640 per tonne (excluding tax), marking a 1.46% increase over the past five days. This trend was also observed on the London Metal Exchange, where April 2026 cobalt oxide contracts jumped 5%, trading at $22,246.19 per tonne, up from the previous price of $21,153. This price increase follows the Democratic Republic of Congo’s (DRC) announcement on February 22 that it would suspend cobalt exports for four months, a move aimed at addressing the global… Read More Here

Mining in DRC Economy Governance

DRC Anti-Corruption Network Proposes Reductions in Govt Spending

February 28, 2025February 28, 2025 Constance

The Pan-African Anti-Corruption Network (Unis), a member of the Congo is not for Sale (CNPV) organization, has released a report proposing measures to reduce the cost of governmental institutions in the Democratic Republic of Congo (DRC). The report, published on Monday, February 24, focuses on cutting unnecessary expenses, particularly those associated with political institutions. Unis recommends the abolition of the Senate, a parliamentary institution comprising 109 senators, the honorary president, and staff, which incurs significant costs to the Congolese state despite its limited and often redundant role in the legislative… Read More Here

Mining in DRC Economy Governance

DRC Prime Minister Seeks WTO Support for Economic Transformation

February 28, 2025February 28, 2025 Constance

Prime Minister Judith Suminwa Tuluka is actively engaging in diplomatic efforts in Geneva, Switzerland, as part of her push to address the crisis in eastern DRC and advocate for stronger sanctions against Rwanda for ongoing atrocities. On the sidelines of the 58th session of the UN Human Rights Council, Prime Minister Suminwa met with World Trade Organization (WTO) Director-General Ngozi Okonjo-Iweala to discuss strategies for transforming the Congolese economy and accelerating the country’s development agenda. “The DRC is at a turning point for its development,” Suminwa stated. “We need greater… Read More Here

Mining in DRC Cobalt Economy

Congo’s Cobalt Export Ban Boosts Chinese Stocks Amid Supply Concerns

February 26, 2025February 26, 2025 Constance

Cobalt stocks surged in China on Tuesday following an unexpected export ban in the Democratic Republic of Congo (DRC), improving the short-term outlook for the key material used in alloys and batteries. Shares of Nanjing Hanrui Cobalt Co. soared by as much as 17% in Shenzhen, while Zhejiang Huayou Cobalt Co. gained 7.8%. In contrast, CMOC Group Ltd., which has been expanding operations at its two massive mines in the DRC, slipped 2% in Hong Kong. The DRC, the world’s leading cobalt producer, announced a four-month suspension of cobalt exports… Read More Here

Mining in DRC Cobalt Economy

DRC Suspends Cobalt Exports for Four Months to Stabilize Market

February 26, 2025February 26, 2025 Constance

The Democratic Republic of Congo (DRC) has announced a four-month suspension of cobalt exports to address an oversupply that has driven down global prices. The measure, which took effect on February 22, aims to align exports with global demand and stabilize the market. As the world’s leading cobalt producer, supplying about 75% of global output, the DRC has seen production surge in recent years, particularly due to increased output from major mining operations. However, this rapid growth has led to an imbalance between supply and demand, causing cobalt prices to… Read More Here

Mining in DRC Economy

DRC Finance Minister Discusses Economic Stability with IMF Managing Director

February 23, 2025February 23, 2025 Constance

On February 19, 2025, DRC Finance Minister Doudou Fwamba Likunde Li-Botayi met with IMF Managing Director Kristalina Georgieva to discuss the implementation of the Extended Credit Facility (ECF) and Resilience and Sustainability Facility (RSF) programs. This meeting, held amid rising tensions in the country’s east, underscores the close link between economic progress and national stability. Minister Li-Botayi acknowledged the ongoing security and humanitarian challenges in the East but reiterated the Congolese Government’s commitment to structural reforms. These reforms focus on strengthening fiscal discipline and enhancing transparency in public finances, which… Read More Here