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Category: Economy

Vedanta Seeks $1 Billion to Boost Copper Output at Zambia’s KCM 1 Mining in Zambia Copper Corporate News Economy 

Vedanta Seeks $1 Billion to Boost Copper Output at Zambia’s KCM

Constance
Vedanta Resources Ltd.’s Zambian copper mining unit has appointed Rand Merchant Bank (RMB) to help raise up to $1 billion in debt financing to support the expansion of its operations at Konkola Copper Mines (KCM). The move comes ten months after Vedanta — owned by Indian billionaire Anil Agarwal — regained control of an 80% stake in KCM following a lengthy dispute with the Zambian government. As part of the settlement, Vedanta committed to invest $1 billion in revitalizing the mining complex. Since then, the company has injected $330 million,… Read More Here
Nigeria Bets on Steel to Diversify Economy and Slash $4B in Annual Imports 2 Gold Economy International 

Nigeria Bets on Steel to Diversify Economy and Slash $4B in Annual Imports

Constance
Nigeria is intensifying efforts to revive its long-stagnant steel industry as part of a broader strategy to diversify its oil-dependent economy. At the core of this push are plans to overcome decades of operational and financial setbacks, accelerate industrialization, and achieve self-sufficiency in steel production. On April 14, 2025, Nigerian firm Chart & Capstone Integrate Ltd signed a memorandum of understanding (MoU) with China’s Sinomach-HE to construct a $2.5 billion steel plant in Kogi State. This marks one of the largest initiatives yet in Nigeria’s ongoing campaign to reduce its… Read More Here
Zambia's Copper Sector Gains Momentum with 30% Output Increase in Q1 2025 3 Copper Economy Mining in Zambia 

Zambia’s Copper Sector Gains Momentum with 30% Output Increase in Q1 2025

Constance
Zambia’s copper production surged by approximately 30% in the first quarter of 2025, reaching around 224,000 metric tonnes compared to 173,000 metric tonnes during the same period in 2024, according to Mines Minister Paul Kabuswe. In a statement issued on Wednesday, Kabuswe attributed the increase to improved production at two major operations—Konkola Copper Mines (KCM) and Mopani Copper Mines—both of which have seen renewed investment and operational recovery. This follows Zambia’s announcement earlier in January that total copper output for 2024 rose by 12%, hitting roughly 820,670 metric tonnes, up… Read More Here
Tin Prices Recover as Commodities Show Mixed Trends in DRC’s Mining Sector 4 Mining in DRC Economy Tin 

Tin Prices Recover as Commodities Show Mixed Trends in DRC’s Mining Sector

Constance
Tin prices are showing a positive recovery this week, following a period of decline since March. As of the week from April 28 to May 3, 2025, tin is trading at USD 31,216 per tonne, up from USD 30,891 the previous week, marking a notable uptick in the market. During the week of April 21-26, 2025, tin had been trading at USD 30,891 per tonne, down from USD 35,142 the week prior (April 14-19). This decline of 5% was largely attributed to the temporary closure of Alphamin, a U.S.-based company… Read More Here
Zimbabwe Resumes Gold Coin Sales to Support Currency Stability 5 International Economy 

Zimbabwe Resumes Gold Coin Sales to Support Currency Stability

Constance
Zimbabwe’s central bank has resumed the issuance of gold coins, a move it had suspended 10 months ago. The decision aims to bolster the bullion reserves backing the local currency, the ZiG, which has been under pressure due to policy missteps, according to Imara Asset Management, the country’s oldest independent brokerage. The 22-carat gold coins, whose issuance was halted in July, are once again available through the country’s banks. The timing aligns with heightened market demand for gold, noted Persistence Gwanyanya, a member of the central bank’s monetary policy committee.… Read More Here
DRC's Mining Sector Generates $4.36 Billion in 2024 6 Mining in DRC Economy 

DRC’s Mining Sector Generates $4.36 Billion in 2024

Constance
The mining sector of the Democratic Republic of Congo (DRC) generated $4.36 billion in 2024, accounting for approximately 41.3% of the country’s total revenue, estimated at over $10.62 billion. This was reported by the financial rating agency Standard & Poor’s (S&P) in a recent post on its X (formerly Twitter) account. According to S&P, this performance resulted from multiple sources of revenue, including income tax on expatriates’ salaries, exceptional taxes on foreign workers’ compensation, permits for exploration or exploitation, and mining royalties. The latest report from the DRC Ministry of… Read More Here
Kenya and China Strengthen Partnership with 20 New Trade Agreements 7 International Economy Partnership 

Kenya and China Strengthen Partnership with 20 New Trade Agreements

Constance
Kenya and China have made significant strides in their longstanding partnership by signing 20 new trade agreements and cooperation deals aimed at advancing development across key sectors of Kenya’s economy. The agreements were finalized at the Great Hall of the People in Beijing during a high-level meeting between President William Samoei Ruto of Kenya and President Xi Jinping of China. President Ruto described the Kenya-China partnership as strong, people-centered, and results-oriented. “Our Chinese partners have committed substantial investments in Kenya’s roads, schools, hospitals, agriculture, energy, ICT, and more. These projects… Read More Here
IMF Warns DRC’s Investment Growth May Fall Short Without Structural Reforms 8 Mining in DRC Economy 

IMF Warns DRC’s Investment Growth May Fall Short Without Structural Reforms

Constance
The International Monetary Fund (IMF), in its latest report released during the IMF and World Bank Spring Meetings, projects that investment in the Democratic Republic of Congo (DRC) will peak at 16.5% of GDP by 2029. The forecast anticipates a gradual rise in investment levels between 2025 (14.9%) and 2029. However, a slight decline to 16.2% projected for 2030 signals a potential slowdown or lack of continuity in major projects. Despite the upward trend, the DRC’s investment rate remains below the benchmarks seen in fast-growing emerging economies. Experts note that… Read More Here
IMF Cuts Growth Outlook for Emerging Markets Amid Global Trade Pressures 9 International Economy 

IMF Cuts Growth Outlook for Emerging Markets Amid Global Trade Pressures

Constance
The International Monetary Fund (IMF) has downgraded its growth forecasts for emerging and developing economies, projecting expansion of 3.7% in 2025 and 3.9% in 2026, according to the latest World Economic Outlook (WEO) released during the IMF and World Bank Spring Meetings. The revised forecast reflects a 0.2 percentage point drop from the January 2025 estimates, largely attributed to the impact of restrictive trade measures, particularly in China, which has been significantly affected. Growth expectations for advanced economies have also been lowered, but the most notable adjustments concern inflation. Global… Read More Here
U.S. Reaffirms Support for Lobito Corridor to Boost DRC and Regional Economies 10 Mining in DRC Angola Economy Mining in Zambia Transport and Logistics 

U.S. Reaffirms Support for Lobito Corridor to Boost DRC and Regional Economies

Constance
On April 17, 2025, U.S. Senior Advisor Massad Boulos announced that Washington would continue supporting the Lobito Corridor, a major rail and road project connecting the Democratic Republic of Congo’s (DRC) mineral-rich regions to Angola’s Atlantic port. The statement followed his visit to the DRC, Rwanda, Uganda, and Kenya. “We fully support the Lobito Corridor, a huge project vital not only for the economies of Congo, Zambia, and Angola but for the entire region,” Boulos said during a press briefing. He noted that the U.S. Development Finance Corporation is a… Read More Here

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