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Category: Mining in DRC

DRC Secures $324 Million Annually in Revised Chinese Mining Contract 1 Mining in DRC Economy 

DRC Secures $324 Million Annually in Revised Chinese Mining Contract

Constance
The Democratic Republic of Congo (DRC) is set to receive 957.2 billion Congolese Francs (CDF), equivalent to $324 million, in annual royalties under a revised contract with Chinese companies, effective in 2025. This amendment, signed in January 2024, seeks to enhance infrastructure investment in the country. Key Terms of the Agreement Funds from the agreement will primarily support the construction of roads and other essential infrastructure, a move aimed at opening up remote provinces and fostering regional connectivity. The revised contract was prompted by a study conducted by the General… Read More Here
DRC to Establish Independent Commission to Combat Fraud in Mining Sector 2 Mining in DRC 

DRC to Establish Independent Commission to Combat Fraud in Mining Sector

Constance
The Democratic Republic of Congo (DRC) is taking decisive steps to address escalating fraudulent practices within its mining sector. Following a ministerial meeting chaired by Deputy Prime Minister for the Interior, Shabani Lukoo, on Tuesday, January 7, 2025, the establishment of an independent commission to tackle these issues was announced, according to his communications unit. The new commission will focus on analyzing fraudulent practices and proposing solutions to effectively combat smuggling and fraud that undermine the national economy. This initiative seeks to enhance transparency and integrity in mining activities, ensuring… Read More Here
CMOC Group Achieves Record Cobalt Production with African Expansion 3 Mining in DRC Battery Metals Cobalt Corporate News 

CMOC Group Achieves Record Cobalt Production with African Expansion

Constance
China’s CMOC Group set a new benchmark in global cobalt production in 2024, thanks to a rapid increase in output from its African mining operations. The company announced it produced 114,165 tonnes of cobalt last year, nearly doubling the 55,526 tonnes achieved in 2023. This output far exceeded its 2024 guidance of 70,000 tonnes, solidifying CMOC’s status as the world’s leading cobalt supplier. In 2023, CMOC overtook Glencore as the largest global cobalt producer, driven by significant production gains from its Kisanfu mine in the Democratic Republic of Congo (DRC),… Read More Here
DRC Ratifies Hydrocarbon Cooperation Agreement with Uganda 4 Mining in DRC Oil & Gas 

DRC Ratifies Hydrocarbon Cooperation Agreement with Uganda

Constance
Following approval by both the National Assembly and Senate during the September session, Law No. 24/022 of December 30, 2024, authorizing the ratification of a cooperation agreement on the exploitation of hydrocarbons and joint deposits between Uganda and the Democratic Republic of Congo (DRC), has been promulgated by President Félix-Antoine Tshisekedi. The announcement was made on Tuesday, December 31, 2024, through a series of orders broadcast on national television (RTNC). This ratified agreement, signed in Kampala on June 23, 1990, and January 25, 2008, was presented by Minister of Hydrocarbons,… Read More Here
Copper Prices Remain Volatile, Straining DRC's Economy 5 Mining in DRC Copper Economy 

Copper Prices Remain Volatile, Straining DRC’s Economy

Constance
Copper, the Democratic Republic of Congo’s (DRC) main export product, continues to experience significant price fluctuations on international markets. According to the latest data from the National Commission of Mercuriales at the Ministry of Foreign Trade, the price of copper dropped to 8,824 US dollars per ton during the week of December 30, 2024, to January 4, 2025, marking a decrease of 1.33% compared to the previous week. This ongoing volatility is causing concern for the Congolese economy, which relies heavily on copper exports for revenue. Experts warn that these… Read More Here
DRC Reports Decline in Child Labor in Cobalt Mines Amid Controversy 6 Mining in DRC Artisanal mining Cobalt 

DRC Reports Decline in Child Labor in Cobalt Mines Amid Controversy

Constance
In its report published on December 31, 2024, the National Human Rights Commission of the Democratic Republic of Congo (CNDH) highlighted a decrease in the number of children working in cobalt mines in the Haut-Katanga and Lualaba provinces. However, the reported figures have sparked controversy. Prior to 2019, it was estimated that 360,000 children were working in these mines, according to organizations such as UNICEF. In contrast, the Congolese government reported a much lower figure of 14,850 child laborers. The CNDH, after consultation with Mines.cd, now estimates that the total… Read More Here
Tin Price in the DRC Sees Modest Increase Amid Sustained Demand 7 Mining in DRC News in Brief Tin 

Tin Price in the DRC Sees Modest Increase Amid Sustained Demand

Constance
The price of tin, the Democratic Republic of Congo’s (DRC) main export mineral, has experienced a slight rise this week. According to the latest figures from the National Mercurial Commission of the Ministry of Foreign Trade, the price of tin reached $28,637.50 per ton for the week of January 6 to 11, 2025. This marks a modest increase of 0.13% compared to the previous week. While the rise is small, it reflects ongoing strong demand for this essential metal, widely used in industries such as electronics and metallurgy. Read More Here
DRC and EU Forge Strategic Partnership for Sustainable Mineral Value Chains 8 Mining in DRC Partnership 

DRC and EU Forge Strategic Partnership for Sustainable Mineral Value Chains

Constance
The Democratic Republic of Congo (DRC) and the European Union (EU) have formalized a strategic partnership roadmap to enhance the value chains of critical and strategic minerals extracted in the DRC. This milestone agreement, signed on December 11, 2024, in Brussels, Belgium, by DRC Minister of Mines Kizito Pakabomba and EU representatives, seeks to transform Congolese mineral resources into global opportunities. The agreement is structured around five main pillars: “This partnership heralds a new era for the Congolese mining sector, positioning our country as a vital supplier of critical minerals… Read More Here
Accountability Demanded in Illegal Mineral Exploitation Scandal Involving Chinese Nationals in DRC 9 Mining in DRC 

Accountability Demanded in Illegal Mineral Exploitation Scandal Involving Chinese Nationals in DRC

Constance
The coalition “Congo is Not for Sale” (CNPAV) has expressed deep dismay over the unresolved case of Chinese nationals involved in the illegal exploitation of minerals in the Democratic Republic of Congo (DRC). In a press release addressed, CNPAV criticized the lack of transparency surrounding the incident, particularly the exfiltration of these individuals, allegedly facilitated by state authorities. The coalition described the incident as an act of corruption that reflects poor governance and mismanagement of public affairs. It warned that such practices deprive the Congolese people of critical resources needed… Read More Here
DRC Prime Minister Grants Moratorium on End-of-Year Audits for Businesses 10 Mining in DRC Economy Governance 

DRC Prime Minister Grants Moratorium on End-of-Year Audits for Businesses

Constance
Prime Minister Judith Suminwa has announced a nationwide moratorium on state services’ control missions targeting companies. The suspension, effective from December 16, 2024, to January 30, 2025, was granted in response to concerns raised by the Federation of Congolese Enterprises (FEC) over administrative burdens at the end of the fiscal year. “I have decided to grant a moratorium on all tax audits, non-tax revenue audits, and routine economic audits to allow economic operators to prepare their financial statements with peace of mind,” wrote the Prime Minister in a letter dated… Read More Here

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