Economy - Copperbelt Katanga Mining

The African Union to Establish Its Own Credit Rating Agency by 2024 1

The African Union aspires to create its own financial rating agency with the ultimate objective of responding to the major concerns of African countries after several sometimes arbitrary evaluations of the three international financial rating agencies, in this case: Moody’s, Fitch and S&P Global Ratings. The announcement was made on Tuesday September 12, 2023 by the main expert on financial rating agencies at the African Union, Misheck Mutize, quoted by the Reuters agency. “The agency, which will develop its own risk assessment of loans to African countries, will be based… Read More Here

International Economy

Botswana Aims to Expand and Diversify Its Mining Economy

September 6, 2023September 6, 2023 Constance

Botswana is looking to diversify its commodity portfolio, President Mokgweetsi Masisi said in Perth on Wednesday. Speaking on the first day of the Paydirt Africa Downunder conference, Masisi said that in order to diversify the country’s mineral portfolio, the government has embarked on a number of projects to identify the potential for mineral resources and to digitise and make geoscience information readily available to private investors in an effort to encourage prospecting. The Botswana Geoscience Institute (BGI) has been tasked with an aggressive systematic exploration programme to raise the current programme of prospectivity… Read More Here

Mining in DRC Artisanal mining Economy Gold

Nicolas Kazadi: DRC’s Artisanal Gold Export Tax Cut to 0.5% “Necessary”

August 30, 2023August 30, 2023 Constance

Since the close of 2022, the Democratic Republic of Congo (DRC) has witnessed a decrease in the tax rate for the export of artisanal gold, dropping from 1.5% to 0.5%. According to the arguments put forward by the Congolese Minister of Finance, Nicolas Kazadi, during the press briefing on Monday August 28, 2023, this measure was necessary in the context of non-competitive or even confiscatory taxation. “At the end of 2021, during the preparation of the 2022 budget, the Government of the Republic had taken the initiative to request that… Read More Here

Mining in DRC Economy Gold

DRC Finance Minister Nicolas Kazadi Refutes Deputy Alfred Maicha’s Allegations on Primera RDC

August 30, 2023August 30, 2023 Constance

The Minister of Finance of the Democratic Republic of Congo (DRC), Nicolas Kazadi, rejected outright the allegations of the national deputy Alfred Maicha on the Primera RDC file. Facing media professionals during the briefing organized on Monday August 28, 2023, Minister Kazadi explained that the creation of the Primera RDC joint venture is part of the high-level strategy for a dual objective: both to recover economic sovereignty , but also to fight against the mining fraud which fuels the armed conflicts in the East of the country. While refuting the… Read More Here

Mining in DRC Economy Governance

DRC President satisfied with Government’s efforts to support local entrepreneurship

August 30, 2023August 30, 2023 Constance

There are more and more public establishments dedicated to supporting entrepreneurship, particularly national micro-entrepreneurs in the Democratic Republic of Congo (DRC). The President of the Republic, Félix Tshisekedi, expressed his satisfaction with the efforts undertakenby the Government in the operationalization of public establishments dedicated to supporting local entrepreneurship, in particular national micro-entrepreneurs. During the meeting of the Council of Ministers held on Friday August 25, 2023, President Félix Tshisekedi indicated that the establishment of these structures dedicated to the promotion of entrepreneurship is in line with his desire to contribute… Read More Here

Copper Economy Mining in DRC

Copper to Trade Slightly Up at US8,269.60/Tonne This Week in DRC

August 30, 2023August 30, 2023 Constance

After several weeks of scarcity, the price of copper should register a slight increase during the period from August 28 to September 2, 2023. According to projections by the National Mercurial Commission of the Ministry of Foreign Trade, a ton of copper should sell this week at 8,269.60 USD against 8,232.45 USD a week earlier, a positive price difference. around $37.15. On Friday August 25, 2023, for the first time since the beginning of the current month, copper recorded a better trend in the market, driven by hopes of a… Read More Here

Mining in DRC Cobalt Copper Economy Tin

Tin Prices to Hit USD 25,430.00 per Tonne in DRC This Week

August 30, 2023August 30, 2023 Constance

The general trend of mining products exported from the Democratic Republic of Congo (DRC) is downward during the period from August 28 to September 2, 2023 on international markets. According to experts from the National Mercurial Commission of the Ministry of Foreign Trade, only copper and silver should experience a slight price increase respectively to 8,269.60 USD against 8,232.45 USD per tonne a week earlier, i.e. a positive price difference of around 37.15 USD for copper and 0.75 USD against 0.74 USD per gram for silver ore. In addition, tin… Read More Here

International Economy

Xi Jinping’s visit to South Africa builds new consensus on South-South cooperation

August 30, 2023August 30, 2023 Constance

Chinese President Xi Jinping’s trip to South Africa has strengthened the traditional friendship between China and Africa. At the same time, it has built a new consensus on South-South cooperation and added positive energy to peace and development. At least that’s what Wang Yi, member of the Political Bureau of the Communist Party of China Central Committee and Minister of Foreign Affairs, said on Friday, August 25, 2023 on the sidelines of the 15th BRICS Summit. Taking advantage of this visit, he co-chaired with his South African counterpart Cyril Ramaphosa… Read More Here

Mining in DRC Battery Metals Cobalt Economy

Félix Tshisekedi Encourages better marketing of Cobalt ore

August 30, 2023August 30, 2023 Constance

Designated a crucial mineral propelling the shift toward sustainable energy, cobalt is witnessing a surge in demand across global industrial sectors. Despite this escalating demand, the Democratic Republic of Congo (DRC), responsible for producing 70% of the world’s cobalt, reaps a meager share of revenue from its raw cobalt exports. In the recent weekly assembly of the Council of Ministers convened on Friday, August 25, 2023, President Félix Tshisekedi of the Republic emphasized the urgency of introducing comprehensive measures to meticulously regulate cobalt marketing and amplify the income generated through… Read More Here

Economy International

China to Collaborate with African States for Enhanced Development Strategies

August 27, 2023August 27, 2023 Constance

China is ready to support Africa in strengthening the articulation of their development strategies. Within the framework of the Belt and Road Initiative and the Forum on China-Africa Cooperation (FOCAC) and in synergy with the AU Agenda 2063, China will strengthen dialogue and communication with the Africa at different levels and will support African integration institutions like the AfCFTA Secretariat, the Pan-African Payment and Settlement System and the African Broadcasting Union in establishing cooperation mechanisms with China. These are the assurances given by Chinese President Xi Jiping in his speech… Read More Here