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Category: Mining in DRC

DRC Solidifies Position as Leading Global Producer of Cobalt and Copper from 2018 to 2022 1 Copper Cobalt Mining in DRC 

DRC Solidifies Position as Leading Global Producer of Cobalt and Copper from 2018 to 2022

Constance
Between 2018 and 2022, the Democratic Republic of Congo (DRC) solidified its status as the world’s largest producer of cobalt and the second-largest producer of copper. According to the International Monetary Fund (IMF), the DRC generated an average of $5.5 billion annually in mining revenues during this period, a notable increase from $4 billion between 2013 and 2017. This surge in revenue is further supported by analyses from various media outlets, including Bankable, a subsidiary of the Ecofin Agency, highlighting the DRC’s strategic significance in supplying critical raw materials. As… Read More Here
DRC Authorities Close Kanshi Commune's Artisanal Diamond Mine to Protect Resident Safety 2 Diamond Artisanal mining Mining in DRC 

DRC Authorities Close Kanshi Commune’s Artisanal Diamond Mine to Protect Resident Safety

Constance
The artisanal and clandestine diamond mine in the Kanshi commune of Eastern Kasai was officially closed on Monday, October 21, 2024, to safeguard the lives of local residents, as stated in a report from the Council of Ministers. “The governor announced the permanent closure of the artisanal diamond mine in Kanshi and the establishment of enhanced surveillance measures to prevent further tragedies,” the report noted. This decision follows a series of fatalities linked to clandestine diamond mining activities, primarily conducted by young residents, which have resulted in significant loss of… Read More Here
Sodimico SA Conducts Inventory of Mining Sites in Kasumbalesa 3 Mining in DRC 

Sodimico SA Conducts Inventory of Mining Sites in Kasumbalesa

Constance
On Friday, October 17, 2024, the Congolese Industrial and Mining Development Company (Sodimico SA) initiated an inventory of mining sites in Kasumbalesa, located in the Haut-Katanga province. Gilbert Tutu Tedeza, the Chairman of the Board of Directors of Sodimico, stated, “We are on a mission to assess the situation in Kasumbalesa, where we will visit various mining sites,” following a meeting with the President of the Provincial Assembly, Michel Kabwe. During this visit, the Sodimico Board of Directors seized the opportunity to seek the support of the deliberative body to… Read More Here
Africa Finance Corporation Advances Zambia-Lobito Rail Project with Concession Agreements 4 Mining in Zambia Angola Mining in DRC Transport and Logistics 

Africa Finance Corporation Advances Zambia-Lobito Rail Project with Concession Agreements

Constance
The Africa Finance Corporation (AFC) has significantly advanced the Zambia Lobito Rail project by entering into concession agreements with the governments of Angola and Zambia. This ceremonial signing took place on the sidelines of the 79th session of the United Nations General Assembly (UNGA 79) with the participation of U.S. Secretary of State Antony J. Blinken and the Biden Administration’s G-7 Partnership for Global Infrastructure and Investment (PGI). The agreements empower the AFC to take the lead in funding, constructing, owning, and operating this vital infrastructure project aimed at enhancing… Read More Here
Falling Cobalt Prices Force DRC Artisanal Miners to Shift to Less Profitable Copper 5 Mining in DRC Cobalt Copper 

Falling Cobalt Prices Force DRC Artisanal Miners to Shift to Less Profitable Copper

Constance
Cobalt prices have plummeted over the last three years, dropping by two-thirds—a severe blow for the Democratic Republic of Congo (DRC), the world’s leading cobalt producer with the largest global reserves. This price slump has forced many artisanal miners to abandon cobalt mining, with some turning to copper despite its limited profitability. In Kolwezi’s Kamilombe artisanal mine, under a corrugated shed, 39-year-old miner Guelord Kongolo prepares raw cobalt for sale. “The activity here has slowed down; it’s not like it used to be,” says Kongolo, who supports four children. Faced… Read More Here
Soleos Energy and Melci to Build 200 MW Solar Power Project in DRC’s Haut-Katanga 6 Mining in DRC Energy 

Soleos Energy and Melci to Build 200 MW Solar Power Project in DRC’s Haut-Katanga

Constance
Soleos Energy, an Indian renewable energy developer, is partnering with Melci, a Democratic Republic of Congo (DRC) electrical engineering company, to build a 200 MW solar photovoltaic (PV) power plant in the Haut-Katanga province. The $200 million project, located in the village of Fipango in Kipushi territory, aims to support the DRC’s renewable energy goals by providing clean electricity to over one million residents while contributing to economic growth and reducing carbon emissions. The solar power plant is projected to generate approximately 350 million kilowatt-hours of electricity annually, cutting CO2… Read More Here
Fuel Prices Drop by 13% in DRC's West Zone as Govt Moves to Combat High Cost of Living 7 Mining in DRC Oil & Gas Petroleum 

Fuel Prices Drop by 13% in DRC’s West Zone as Govt Moves to Combat High Cost of Living

Constance
The price of fuel in the Democratic Republic of Congo’s (DRC) West zone has seen a significant reduction, with gasoline dropping from 3,340 to 2,990.49 Congolese francs per liter, a 13% decrease. Similarly, diesel prices have fallen from 3,435 to 2,979.73 Congolese francs per liter, also marking a 13% reduction. This price cut follows the orders signed on Wednesday, October 2, by Daniel Mukoko Samba, the Vice Prime Minister and Minister of the National Economy. According to a statement from the Ministry of National Economy, the government is closely monitoring… Read More Here
DRC Criticizes US Department of Labor for Including Congolese Cobalt on Forced Labor List 8 Mining in DRC Cobalt 

DRC Criticizes US Department of Labor for Including Congolese Cobalt on Forced Labor List

Constance
The Democratic Republic of Congo (DRC) has expressed strong disapproval of the United States Department of Labor’s decision to include Congolese cobalt in its 2024 list of goods produced by child or forced labor. On October 1, the DRC government issued a statement describing the decision as “unjustified,” arguing that it overlooks significant reforms in the regulation of both artisanal and industrial mining in the country. “The decision fails to acknowledge the substantial efforts and progress made in regulating artisanal and industrial mining. It undermines international systems designed to ensure… Read More Here
DRC and Angola Sign Key Agreement on Revenue Sharing for Block 14/23 Oil Exploitation 9 Mining in DRC Exploration Oil & Gas 

DRC and Angola Sign Key Agreement on Revenue Sharing for Block 14/23 Oil Exploitation

Constance
On Wednesday, October 2, 2024, in Luanda, Angola, the Democratic Republic of Congo (DRC) and Angola signed the Regulation of the Supervision Commission of the Common Account for the Zone of Common Interest (ZIC) and an Agreement on revenue sharing and tax compliance related to ZIC – Block 14/23. This signing took place during the Angola Oil & Gas (AOG) International Conference, in the presence of Angolan President João Lourenço. DRC’s Minister of Finance, Doudou Fwamba Likunde Li-Botayi, and his Angolan counterpart, Vera Esperança dos Santos Daves da Costa, formalized… Read More Here
DRC Commits to Reducing Child Labor in Artisanal Mines 10 Mining in DRC Artisanal mining 

DRC Commits to Reducing Child Labor in Artisanal Mines

Constance
DRC Minister of Mines, Kizito Pakabomba, reaffirmed the government’s commitment to reducing child labor in artisanal mines. Speaking during a press conference in Kinshasa, he highlighted collaborative efforts with international organizations and ministries such as the Interior and Defense to rescue children from dangerous mining environments and reintegrate them into age-appropriate activities. “The locations where these children work are well identified. We are working with ministerial commissions and international organizations to relocate them and remove them from the mines,” the minister stated. Pakabomba also addressed recent reports by UNICEF during… Read More Here

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