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DRC Urged to Shift Focus from Mining to Agriculture for Inclusive Growth 1 Mining in DRC Economy 

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

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
DRC Central Bank Imposes Hefty Fines to Enforce Export Revenue Repatriation 2 Mining in DRC Economy 

DRC Central Bank Imposes Hefty Fines to Enforce Export Revenue Repatriation

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
Brazil Central Bank Doubts BRICS Will Dethrone the US Dollar Within a Decade 3 Economy International 

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

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
Zambia Urged to Align Key Sectors with Mining Ambitions for Sustainable Growth 4 Mining in Zambia Copper Economy 

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

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
Mining Sector Recovery Boosts Kwacha and Investor Confidence in Zambia 5 Mining in Zambia Copper Economy 

Mining Sector Recovery Boosts Kwacha and Investor Confidence in Zambia

Constance
The Advocates for National Development and Democracy (ANDD) say Zambia’s ongoing mining sector reforms are beginning to positively impact the economy, citing the recent appreciation of the Kwacha against the US dollar. ANDD Executive Director Samuel Banda attributed the currency’s recent rise to around 26.7 Kwacha per dollar in part to increased copper production. He praised recent progress in the mining industry, particularly the developments at Konkola Copper Mines (KCM), and commended Vedanta Resources for its commitment to clearing KCM’s legacy debts and outstanding payments to suppliers. Vedanta has confirmed… Read More Here
DRC and Ethiopia Sign Landmark Bilateral Agreement to Boost Mining and Economic Cooperation 6 Mining in DRC Economy 

DRC and Ethiopia Sign Landmark Bilateral Agreement to Boost Mining and Economic Cooperation

Constance
In a significant diplomatic breakthrough, the Democratic Republic of Congo (DRC) and Ethiopia signed a landmark bilateral agreement on May 6, 2025, in Addis Ababa. This is the first such agreement in over 25 years between the two nations and marks a new chapter in their political and economic partnership. The agreement was signed by DRC State Minister of Foreign Affairs Thérèse Kayikwamba Wagner and her Ethiopian counterpart, Gedion Timothewos Hessebon. The deal focuses on strengthening cooperation in key sectors, including mining, economic development, and cultural exchange. Central to the… Read More Here
Zambian Parliamentary Committee Tours FQM Mines to Assess Economic Impact 7 Mining in Zambia Copper Corporate social responsibility Economy 

Zambian Parliamentary Committee Tours FQM Mines to Assess Economic Impact

Constance
The Parliamentary Committee on National Economy, Trade and Labour Matters has conducted a high-level tour of First Quantum Minerals’ operations at Kansanshi Mining PLC and FQM Trident in Zambia’s North-Western Province. The visit is part of the committee’s oversight role to assess major investments and understand key drivers of the national economy. Led by Honourable Sibeso Sefulo, Member of Parliament for Mwandi Constituency, the delegation visited the mining sites to gain first-hand insight into their operations, scale of investment, and contribution to Zambia’s socio-economic development. The committee was welcomed by… Read More Here
Vedanta Seeks $1 Billion to Boost Copper Output at Zambia’s KCM 8 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 9 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 10 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

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