Economy - Copperbelt Katanga Mining

Zambia Advances Mining Reforms to Boost Copper Production to 3 Million Metric Tonnes by 2031 1

Zambia is advancing two mining reform bills aimed at transforming its mining sector and quadrupling copper production from the current 800,000 metric tonnes to 3 million metric tonnes annually by 2031. The Mining Regulations Commission Bill and the Geological and Minerals Development Bill will replace the Mines and Minerals Development Act of 2015, pending parliamentary approval and presidential assent following a multi-stakeholder consultation process. Chaanza Chifwepa, Principal Exploration Geologist at the Ministry of Mines and Minerals Development, explained during The Mining Show in Dubai that the reforms are designed to… Read More Here

Mining in Zambia Economy

Zambia’s Economy to Grow Over 6% in 2025 with Key Investments and Social Support

November 30, 2024November 30, 2024 Constance0 comment

Zambia’s economy is projected to grow by over 6% in 2025, according to Finance and National Planning Minister Situmbeko Musokotwane, who remains optimistic about maintaining this growth unless the country faces another drought. However, Minister Musokotwane noted that Zambia’s 2024 economic growth forecast has been downgraded to 1.1% due to the adverse effects of the drought, which significantly impacted agricultural production. The drought also negatively affected electricity generation, leading to setbacks in manufacturing and other sectors. Dr. Musokotwane made these remarks today in Lusaka at the 2025 Post-Budget and Economic… Read More Here

Mining in Zambia Economy Transport and Logistics

Zambia Advances SME Growth with Lobito Corridor Trade Facilitation Project

November 30, 2024November 30, 2024 Constance0 comment

Zambia has taken a major step toward supporting Small and Medium Enterprises (SMEs) by signing a Memorandum of Understanding (MOU) for the Lobito Corridor Trade Facilitation Project. This initiative, backed by the African Development Bank (AfDB), involves collaboration between Zambia’s Ministry of Commerce, Trade, and Industry and the Ministry of Small and Medium Enterprise Development. The project seeks to strengthen trade among the Lobito Corridor states—Zambia, Angola, and the Democratic Republic of Congo (DRC). The MOU was signed during a ceremony in Lusaka attended by senior government officials, directors, and… Read More Here

Mining in DRC Copper Economy

Copper Prices to Fall 2.85% in November 2024, Impacts DRC Economy

November 30, 2024November 30, 2024 Constance0 comment

Copper, a key mineral for the Democratic Republic of Congo’s (DRC) economy, is expected to experience a notable price decline on international markets. Between November 25 and 30, 2024, copper is forecast to trade at USD 8,924.05 per ton, marking a 2.85% decrease from the previous period when it was priced at USD 9,186.25. This drop is part of a broader trend in which several other metals, including zinc, tin, gold, and silver, have also seen price reductions. Zinc is now trading at USD 29,490.05, down 0.64%, while gold has… Read More Here

Mining in DRC Coltan Economy

DRC’s Coltan Exports Generate $6.7 Million Amid Challenges in the First Quarter of 2024

November 30, 2024November 30, 2024 Constance0 comment

The Democratic Republic of Congo (DRC) maintained its pivotal role in the global coltan market during the first quarter of 2024, exporting 265.90 tons of coltan valued at $6.7 million, according to official data. Artisanal mining dominated production, accounting for 242.30 tons during this period. This form of mining, prevalent in North and South Kivu provinces, often takes place under precarious conditions with minimal regulation. Coltan, a critical mineral for the electronics industry, is essential for manufacturing components like capacitors. The rising global demand, driven by advancements in digital technologies,… Read More Here

Mining in DRC Economy

DRC Faces Budget Deficit of $164 Million Amid Rising Public Expenditures

November 30, 2024November 30, 2024 Constance0 comment

The Democratic Republic of Congo (DRC) reported a budget deficit of approximately 575.9 billion Congolese Francs (CDF), equivalent to over $164 million, as of November 13, 2024, according to the Central Bank of Congo (BCC). Public revenues totaled 22,548.8 billion CDF for the year, while expenditures reached 23,124.7 billion CDF, highlighting a financial imbalance that raises concerns about the sustainability of public finances and the government’s capacity to fulfill its obligations. Economic analysts attribute this deficit to surging expenditures, particularly on civil servant salaries and exceptional outlays. A significant portion… Read More Here

Mining in DRC Economy Gold

DRC Gold Sector Shines with Over 7 Tons Produced in Q1 2024

November 30, 2024November 30, 2024 Constance0 comment

In the first quarter of 2024, the Democratic Republic of Congo (DRC) achieved remarkable gold production, totaling 7,153.58 kilograms. This highlights the nation’s vast gold potential, despite ongoing challenges in the sector. Data from the Technical Cell for Coordination and Mining Planning reveals that industrial mining dominated production with 6,462.61 kilograms, led by Kibali Gold Company, which contributed 6,445.61 kilograms. The MCC Company added 17 kilograms to this total. Meanwhile, artisanal mining accounted for 690.97 kilograms, underscoring its significance in the local economy, where thousands of miners rely on gold… Read More Here

Mining in DRC Diamond Economy

DRC Diamond Exports Reach $18 Million in Q1 2024 Amid Production Decline

November 30, 2024November 30, 2024 Constance0 comment

In the first quarter of 2024, the Democratic Republic of Congo (DRC) achieved diamond exports worth nearly $18 million, driven by the export of 1,970,188 carats. Despite the notable revenue, the sector faces challenges, including declining production and fluctuating market conditions. The Technical Cell for Coordination and Mining Planning reported diamond production of 931,876.98 carats in the same period. The DRC’s diamond industry continues to grapple with production variability, a trend that has raised concerns among stakeholders. Breakdown of Production by Segment: All production was exported to key markets, including… Read More Here

Mining in DRC Economy

DRC’s Cassiterite Production Soars to 8,218 Tonnes in Q1 2024

November 30, 2024November 30, 2024 Constance0 comment

Cassiterite production in the Democratic Republic of Congo (DRC) surged to 8,218.54 tonnes in the first quarter of 2024, according to the Ministry of Mines’ Technical Unit for Coordination and Mining Planning. This substantial growth highlights cassiterite’s increasing role in the DRC’s economy. Industrial mining accounted for the majority of production, with Alphamin leading the sector by producing 5,488.86 tonnes. Sakima contributed 50 tonnes, reflecting a trend toward more organized and regulated mining practices. Artisanal mining also made a significant impact, producing 2,679.68 tonnes. Key artisanal production regions included Haut-Lomami,… Read More Here

Gold Economy Mining in DRC News in Brief

Gold Price Drop Impacts DRC Mining Exports

November 24, 2024November 24, 2024 Constance

The price of gold, a key export for the Democratic Republic of Congo (DRC), has decreased by 2.93% on global markets. From November 18-23, 2024, the price per gram fell to USD 86.12, down from USD 88.72 the previous week, according to a press release from the Ministry of Foreign Trade. This decline is part of broader global fluctuations in raw material prices, particularly observed between November 11-16, 2024. Price volatility on international markets continues to challenge the DRC, where Read More Here