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Category: Economy

economic operators Mining in DRC Covid-19 Economy 

Albert Yuma submits the problems faced by economic operators to Félix Tshisekedi | DRC

arnbethnic
The Head of State, Félix Tshisekedi, exchanged, on Thursday, August 6 at the City of the African Union, with a delegation from the Federation of Enterprises of Congo (FEC) led by its president, Albert Yuma Mulimbi.  According to the president of the FEC, his delegation had an “important and long” meeting with the Head of State on the relations between the Congolese employers and the Congolese state represented by the President of the Democratic Republic of Congo. He said, “The meeting aimed at seeing how best to improve private and… Read More Here
Cobalt Cobalt Economy Mining in DRC 

DRC Cobalt Production at 38,816 tonnes by the end of June 2020

arnbethnic
The mining industry in the Democratic Republic of the Congo overall produced 38,816 tonnes of cobalt in the first six months of 2020, according to data from the Central Bank of Congo.  This production volume achieved in 2020 is up, despite the covid-19 health crisis, compared to the same period in 2019 when mining companies produced 36,772 tonnes of cobalt. Recall that in 2019, the Democratic Republic had produced over the entire year 77,964 tonnes of cobalt. Read More Here
VAT Economy Mining in DRC Mining tax Taxes 

DRC Government Suspends VAT Exemption on Imports of Mining Companies

arnbethnic
  The Deputy Prime Minister in charge of the Budget, Baudoin Mayo Mambeke, on the decision by the government made at the 41st meeting of the Council of Ministers, has ordered “the suspension of the exemption from VAT on the imports of mining companies” within the framework measures to increase government revenue. In a correspondence dated July 31, 2020 and addressed to his colleague from Finance ministry, the Minister of the Budget wrote: “The Council of Ministers has decided, during its 41st meeting and within the framework of the mobilization of… Read More Here
Tshisekedi Mining in DRC Economy 

Félix Tshisekedi asks the government to renegotiate the return of the DRC to AGOA

arnbethnic
The President of the Republic, Felix Tshisekedi, asked, during the 42nd meeting of the Council of Ministers held on Friday July 31 by video conference, the government to prepare a “detailed report” to be sent to the United States of America for the return of the Democratic Republic of the Congo to AGOA, the acronym for African Growth and Opportunity Act or Law on Growth and Opportunities in Africa.   For the Head of State, “the DRC has taken measures which constitute positive responses to the requests of the United States and… Read More Here
S&P Global rates DR Congo at CCC+, lowers outlook to stable 1 Mining in DRC Economy 

S&P Global rates DR Congo at CCC+, lowers outlook to stable

arnbethnic
S&P Global Ratings held Democratic Republic of Congo’s long-term foreign-currency debt rating at CCC+ and lowered its outlook to stable from positive amid the fallout from the coronavirus pandemic. Emergency foreign assistance should help balance out the worst effects of the virus on Congo’s economy, which could rebound if copper and cobalt demand and production increase as expected, the ratings agency said on its website. The planned opening of Ivanhoe Mines’ Kamoa-Kakula copper project next year should buoy Congo’s economy. “DRC’s economic environment has significantly deteriorated, due largely to Covid-19,… Read More Here
Copper Covid-19 Covid-19 Economy Mining in DRC 

Mining production unaffected by the COVID-19, reassures the Minister of Mines | DRC

arnbethnic
During the economic meeting held on Tuesday July 28, 2020, the Prime Minister, Sylvestre Ilunga Ilunkamba, the Minister of Mines, Willy Kitobo, revealed that “mining production has not been affected by the COVID-19 pandemic “. Moreover, the prices of metals are doing well on the international market. “In the mining sector, the responsible Minister reassured the members of the Economic Conjuncture Committee that mining production was not affected by the COVID-19 pandemic, and metal prices are doing well on the international market . The Ilunkamba Government congratulates and encourages mining… Read More Here
chamber of mines Economy Mining in Zambia 

Chamber of Mines paves the way for a post-COVID economic recovery in new report | Zambia

arnbethnic
How will Zambia’s already weakened economy survive the mounting fiscal pressures of COVID-19? The Zambia Chamber of Mines’ brand new report, The Road to Recovery: A policy brief for a post-COVID Zambian economy, offers a narrow pathway to redemption which, if carefully followed, will set Zambia on the road to economic recovery and — crucially — on a growth footing for the future. Download your free copy of this eye-opening report here. (2MB low resolution download.) Read More Here
gécamines Copper Economy Mining Companies Mining in DRC 

GÉCAMINES equipped with new governance tools, says Portfolio Minister | DRC

arnbethnic
After participating on the Board of Directors in Lubumbashi, the capital of Nagorno-Katanga province, focused on assessing the state of play of THE GSAS, currently endowed with the new leadershop, the Portfolio Minister Clement Kuete Nymi welcomes the dynamism of the central government for equipping The General of Quarries and Mines with new governance tools, before expressing optimism about the recovery of this company , the most important in maximizing revenue. The Minister of The Portfolio has expressed optimism about the recovery of GECAMINES, indicating that by taking stock of… Read More Here
Mining Companies in DRC Mining in DRC Economy Mining Companies 

Miners who do not repatriate 60% of export earnings in the DRC government’s crosshairs

arnbethnic
  An ongoing hunt will be organized for mining companies that do not repatriate 60% of their export revenues to the DRC. The challenge is to supply the foreign exchange market in dollar and mitigate the volatility of the Congolese franc following the effects of the covid-19. The Council of Ministers has already instructed the Central Bank of Congo (BCC) to identify mining companies that do not repatriate export revenues to the tune of 60% as required by the Mining Code. “We are witnessing a significant decline in the supply… Read More Here
EITI DRC AFrewatch Mining in DRC Economy Mining tax 

ASADHO calls on DRC govt to carry out the necessary staffing for implementation of EITI activities

arnbethnic
The African Association for the Defence of Human Rights, ASADHO in its acronym, called on the DRC government to “finance the implementation of the EITI-DRC” to demonstrate its commitment to transparency and the fight against corruption in the mining and oil sectors.  “As of 18 July 2020, the President of the Republic, Mr Félix TSHISEKEDI, had appointed Mr Jean Jacques KAYEMBE as the National Coordinator of the Technical Secretariat of the EITI-DRC (…) If the President of the Republic has acquired his duty to appoint the National Coordinator, the Government… Read More Here

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