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Category: Economy

DRC's Business Climate Showing Signs of Positive Growth 1 Mining in DRC Economy 

DRC’s Business Climate Showing Signs of Positive Growth

Constance
The Head of State, Félix Tshisekedi, chaired, this Tuesday, June 6 at the City of the African Union, the ceremony to present the results of the first survey of the National Business Climate Barometer (BNCA).  This report shows that the business climate in the DRC is improving. At this stage, the BNCA gives him a satisfaction score of 37%. This survey, which took place from January 24 to March 27, 2023, covered 403 companies in 13 sectors of the national economy. The Head of State hailed the quality of the work carried… Read More Here
Nicolas Kazadi: DRC's New Partnership with China to Revise Mining Agreements 2 Mining in DRC Economy 

Nicolas Kazadi: DRC’s New Partnership with China to Revise Mining Agreements

Constance
For the Congolese Head of State, Félix Tshisekedi, his state visit carried out at the invitation of his counterpart, the President of the People’s Republic of China Xi Jinping in Beijing, capital of China from May 24 to 29, 2023, was an opportunity to review the state of the historical relations and friendship which have bound the two States for 51 years and to promote their transformation towards a partnership of strategic and global cooperation by agreeing together, with a view to effective materialization, the revitalization of the China-Democratic Republic… Read More Here
Exploring the DRC's Mining Potential 3 Mining in DRC Economy 

Exploring the DRC’s Mining Potential

Constance
With an estimated US$24 trillion in untapped deposits of cobalt, diamonds, gold, copper, and other minerals, the Democratic Republic of Congo (DRC) emerges as a key investment destination, attracting a multitude of companies operating across the country. As the world’s largest producer of copper, the DRC possesses some of the richest copper belts globally. It also takes the crown as the biggest producer of cobalt and the second-largest producer of diamonds. Additionally, the country boasts abundant reserves of gold, zinc, tin, and potash. Mining in the DRC encompasses both large… Read More Here
US Govt Commits to Assisting Zambia's Copper Production for Economic Growth 4 Economy Copper Mining in Zambia 

US Govt Commits to Assisting Zambia’s Copper Production for Economic Growth

Constance
The United States government has reaffirmed its commitment to supporting Zambia in its pursuit of expanding copper production to reach an annual target of 3 million tonnes. Helaina Matza, the US Deputy Special Presidential Coordinator for Global Infrastructure and Energy, emphasized the need for intensified exploration efforts to achieve this ambitious goal during her recent visit to the country. Matza expressed the importance of exploring additional power connections and conducting further exploration activities to bolster Zambia’s copper production capacity. She acknowledged the promising signs observed during her visit to the… Read More Here
Zambia's Ambition to Triple Copper Production remains Uncertain 5 Copper Economy Mining in Zambia 

Zambia’s Ambition to Triple Copper Production remains Uncertain

Constance
Zambia, known for its copper reserves, has set an ambitious target to increase copper production from its current level of 830,000 metric tons to 3,000,000 metric tons within the next decade. However, achieving this target remains uncertain due to the lack of stringent measures being taken to reach it. The Association of Zambian Mineral Exploration Companies (AZMEC) acknowledges that the 3 million metric ton production target is achievable by 2031. However, the association is not aware of any exploration projects currently at an advanced stage that could contribute to production… Read More Here
Zambia's Refined Copper Exports Experience Decrease in April 2023 6 Mining in Zambia Copper Economy 

Zambia’s Refined Copper Exports Experience Decrease in April 2023

Constance
The export earnings from refined copper in Zambia witnessed a significant decline in April 2023, with a 10 percent decrease from K11.0 billion in March 2023 to K9.9 billion. This decline reflects the challenges faced in the mining sector, impacting copper production and subsequent revenue generation. According to official statistics, the volume of copper exports during April 2023 also experienced a decline of 7.6 percent, reaching 57.6 thousand metric tons (MT), down from 62.3 thousand MT recorded in March 2023. Furthermore, when comparing the export volumes of refined copper between… Read More Here
Zinc is trading at USD 2,614.45 per tonne this week in DRC 7 Mining in DRC Economy Zinc 

Zinc is trading at USD 2,614.45 per tonne this week in DRC

Constance
Of all the mining products exported from the Democratic Republic of Congo (DRC), only zinc is expected to experience a slight price increase this week on world markets. According to forecasts from the National Mercurial Commission of the Ministry of Foreign Trade, which covers the period from May 29 to June 3, 2023, zinc is expected to trade at 2,614.45 USD per ton this week against 2,520.30 USD per tonne last week, representing a slight price increase of around 94.15 USD. The same document from the Ministry of Foreign Trade… Read More Here
Ghana's Collateralized Loans from China Jeopardize Energy Sales and Mineral Resource Earnings 8 International Economy 

Ghana’s Collateralized Loans from China Jeopardize Energy Sales and Mineral Resource Earnings

Constance
The International Monetary Fund (IMF) has provided information regarding how Ghana’s four collateralized loans from China have put the government at risk of losing future energy sales as well as a portion of the earnings from its mineral resources. Since the year 2000, Ghana has relied on Chinese loans as a consistent source of finance for large-scale projects. Accra has accumulated close to $5 billion from at least 41 Chinese loans over the course of two decades. With a current external debt portfolio surpassing $30 billion, Ghana is presently debt-trapped… Read More Here
Bank of Zambia Increases Monetary Policy Rate Amid Inflationary Pressure 9 Economy Mining in Zambia 

Bank of Zambia Increases Monetary Policy Rate Amid Inflationary Pressure

Constance
The Bank of Zambia (BOZ) has decided to raise the Monetary Policy Rate (MPR) by 0.25% (25 basis points) from 9.25 percent to 9.50 percent. This move aims to address the persistently high inflation and maintain macroeconomic stability in the country. During the Monetary Policy Committee Announcement, Bank of Zambia Governor Dr. Denny Kalyalya explained that the decision to increase the MPR was driven by the projection that inflation would continue to exceed the target range of 6-8 percent in the foreseeable future. While inflation marginally declined in Q1 2023,… Read More Here
Presidents Xi Jinping and Félix Tshisekedi sign 4 MoUs during China state visit 10 Mining in DRC Economy 

Presidents Xi Jinping and Félix Tshisekedi sign 4 MoUs during China state visit

Constance
The President of the Democratic Republic of Congo, Félix-Antoine Tshisekedi, was welcomed with all the honors, this Friday, May 27, 2023, on the esplanade of the Great Palace of the People of Beijing by his host, President Xi Jinping of the Republic popular in China. National anthems, 21 cannon shots, fanfare, military parade and children’s greetings, everything was put in place to make this sumptuous welcome worthy of the exceptional quality of bilateral relations between Congo and China. The two Presidents had profound words to describe the state of good… Read More Here

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