Economy - Copperbelt Katanga Mining

DRC Minister of Mines Drives Economic Diversification and Environmental Standards in Katanga 1

The Democratic Republic of Congo’s Minister of Mines, Kizito Pakabomba, is on a crucial mission to ensure that the mining sector plays a key role in the country’s economic diversification while adhering to environmental standards and benefiting local communities. This mission, which began on August 15, 2024, in Greater Katanga, reflects the government’s commitment to maximizing the impact of the mining industry on the national economy and improving the living conditions of the Congolese people. Accompanied by key officials including the Chairman of the Board of Directors of Gécamines, Mr.… Read More Here

Mining in DRC Copper Economy Mining in Zambia

Copper Prices Stabilize as DRC-Zambia Border Reopens After Brief Crisis

August 16, 2024August 16, 2024 Constance

Global copper prices have stabilized below the USD 9,000 per tonne mark following the resolution of a brief but intense border dispute between the Democratic Republic of Congo (DRC) and Zambia. Earlier concerns about a potential disruption to one of the world’s key copper export corridors had driven prices up for two days. However, after reaching around USD 8,900 per tonne on August 13, 2024, prices dipped slightly below USD 8,800 as tensions eased. The border crisis began when the DRC unilaterally banned the import of beer, soft drinks, and… Read More Here

International Copper Economy

Global Copper Demand to Surge by 75% by 2050

August 15, 2024August 15, 2024 Constance

Copper demand is projected to soar by 75%, reaching 56 million tonnes by 2050, according to a new report from data analytics firm Wood Mackenzie. This sharp increase will necessitate significant investment and strategic changes in the global supply chain, particularly as major economies seek to reduce reliance on China. Copper plays a critical role in electrification and decarbonization, making it indispensable for the global energy transition. However, China currently dominates the copper supply chain, including mining, downstream processing, and semi-manufacturing. As countries look to diversify supply chains away from… Read More Here

Mining in Zambia Economy

Zambia’s Finance Minister Urges Private Sector to Boost Growth and Productivity

August 11, 2024August 11, 2024 Constance

Zambia’s Finance and National Planning Minister, Dr. Situmbeko Musokotwane, has urged the private sector to maintain its growth momentum and enhance productivity across all sectors. In meetings with representatives from various commercial banks, Dr. Musokotwane expressed optimism that the country’s current challenges, including the energy deficit and food security issues worsened by drought, will significantly improve by next year. The Minister stressed the need for continued investment in the energy sector to support the government’s efforts to diversify energy sources. He emphasized the role of public-private partnerships (PPPs) in driving… Read More Here

Mining in Zambia Copper Economy

Proposed Mining Law Threatens Zambia’s Copper Production Goals

August 8, 2024August 8, 2024 Constance

Zambia’s proposed Minerals Regulation Law could deter investment and deliver a “fatal blow” to the country’s goal of increasing annual copper output to 3 million metric tons, according to two mining organizations. As Africa’s second-largest copper producer, Zambia is considering a Minerals Regulation Commission Bill that would allow the government to acquire a stake in exploration areas before granting licenses to investors for mineral exploration, including copper. The proposed legislation, which was reviewed by Reuters, seeks to empower the finance minister to maintain a shareholding in a mining license on… Read More Here

Mining in DRC Economy Gold Governance

Kizito Pakabomba Visits Kibali Gold Mine to Inaugurate New Projects

July 31, 2024July 31, 2024 Constance

The Minister of Mines, Kizito Pakabomba, was enthusiastically welcomed to Kibali Gold Mine, one of the largest gold mines in Africa. Located in the north-east of the Democratic Republic of Congo (DRC), about 220 kilometers from the town of Isiro, the visit marks a significant milestone for the region. The primary purpose of Minister Pakabomba’s visit was to inaugurate new projects funded by the allocation of 0.3% of the mine’s minimum turnover. This allocation underscores the mine’s commitment to reinvest in local infrastructure and community development. During the visit, Minister… Read More Here

Mining in DRC Coltan Economy

Experts Advocate for Local Processing of Kivu Coltan to Boost Economic Gains

July 30, 2024July 30, 2024 Constance

During the presentation of the project “Kivu Coltan: Physico-Chemical Processing Capacity and Application Studies” last weekend at the Higher Pedagogical Institute of Bukavu (ISP/BUKAVU) in South Kivu, Professor Fabrice Muvundja urged experts to advocate for local industrialization to enhance value-added exports. In his speech, Professor Muvundja highlighted the lack of scientific research on Kivu coltan, despite its significant contribution to the regional economy for nearly twenty-four years. “Kivu coltan has been a cornerstone of the regional economy since the 2000s. We have recognized its value for the national economy, yet… Read More Here

Mining in DRC Economy

DRC Minister of Mines and World Bank Discuss Strategic Cooperation

July 30, 2024July 30, 2024 Constance

The Minister of Mines, Kizito Pakabomba, met with the Director of Operations of the World Bank for the Democratic Republic of Congo (DRC) to discuss strategic cooperation aimed at strengthening the mining sector and diversifying the national economy. “I emphasized the crucial importance for DR Congo to diversify its partners to attract a variety of investors. This approach aims not only to create jobs but also to support sustainable development in our country,” wrote Pakabomba on his X account. The two officials also explored the reactivation of key projects such… Read More Here

Mining in Zambia Economy

World Bank to Approve Five-Year Partnership Framework with Zambia

July 26, 2024July 26, 2024 Constance

The World Bank is poised to approve a five-year New Partnership Framework with Zambia by September this year, which will run from 2025 to 2029. This strategic initiative aims to bolster human capital development and support the nation’s infrastructure advancements. World Bank Managing Director and Group Chief Administrative Officer, Wencai Zhang emphasised the significance of this partnership during a meeting with Zambia’s Infrastructure Development Minister, Charles Milupi. Zhang highlighted that the framework is designed to address critical areas essential for Zambia’s socio-economic growth. “The framework will play a pivotal role… Read More Here

Mining in Zambia Economy

Zambia Projects 6% Economic Growth for 2025

July 26, 2024July 26, 2024 Constance

During the Mid-year Budget and Economic Performance Review in Lusaka, Finance and National Planning Minister Situmbeko Musokotwane projected a minimum 6% growth for Zambia’s economy in 2024. He attributed this optimistic outlook to various government measures aimed at fostering economic stability. Musokotwane also highlighted a positive vision for 2025, expecting favourable rainfall to aid the recovery of the agriculture and energy sectors. Despite ongoing challenges such as price volatility and supply chain interruptions, the ministry is committed to improving enforcement measures to address weaknesses like tax compliance. Zambia Revenue Authority… Read More Here