Mining in DRC - Copperbelt Katanga Mining

President Félix-Antoine Tshisekedi of the Democratic Republic of Congo (DRC) addressed ambassadors accredited to the country on Saturday, January 18, 2025, highlighting government initiatives to improve the traceability of “strategic” minerals from the eastern region. In his speech, President Tshisekedi underscored the importance of transparency and certification mechanisms aimed at ensuring Congolese natural resources truly benefit the nation. “In 2024, we intensified efforts to strengthen the traceability of our minerals with the support of international partners. We have also initiated discussions on implementing transparency and certification mechanisms to ensure our… Read More Here

Mining in DRC Economy

IMF Approves $2.87 Billion Agreement with DRC for Economic Growth and Climate Resilience

January 19, 2025January 19, 2025 Constance0 comment

On January 15, 2025, the International Monetary Fund (IMF) Executive Board approved a new cooperation agreement with the Democratic Republic of Congo (DRC), encompassing two major programs worth $2.87 billion. The package includes a $1.77 billion Extended Credit Facility (ECF) and a $1.1 billion Climate Resilience Facility (CRF). Prime Minister Judith Suminwa Tuluka announced the agreement following an extraordinary Council of Ministers meeting chaired by President Félix-Antoine Tshisekedi. Minister of Communication and Media, Patrick Muyaya, confirmed that disbursements will occur in tranches, contingent on progress in implementing agreed economic reforms.… Read More Here

Mining in DRC Artisanal mining Cobalt Copper Lithium

South Kivu’s Mineral Wealth Lost to Illicit Mining, Earning Under $1 Million Annually

January 19, 2025January 19, 2025 Constance0 comment

South Kivu, a province rich in copper, cobalt, lithium, and other valuable minerals, generates less than $1 million annually due to widespread illicit mining activities. This stark contrast between the province’s mineral potential and its economic output was highlighted by Governor Jean-Jacques Purusi during a recent meeting with local stakeholders. Despite its mineral wealth, South Kivu remains one of the poorest regions in the Democratic Republic of Congo (DRC), a situation that Governor Purusi attributes to the illegal exploitation of its resources. “The mining sector does not even generate $1… Read More Here

Mining in DRC Economy

DRC’s Economy Thrived in 2024 Amid Challenges, Records 6% GDP Growth

January 19, 2025January 20, 2025 Constance0 comment

Despite persistent security challenges in the eastern regions, the Democratic Republic of Congo (DRC) achieved remarkable economic growth in 2024, with its real GDP growth rate estimated at 6.0%, according to the International Monetary Fund (IMF). This economic performance surpassed initial IMF projections of 4.7%, highlighting the country’s resilience in navigating economic and security challenges. Finance Minister Doudou Fwamba credited the growth to effective public financial management and the stabilization of the macroeconomic framework. “Prudent fiscal policies have laid the foundation for this exceptional growth,” he stated. The mining sector,… Read More Here

Mining in DRC Infrastructural Development Transport and Logistics

$700 Million Set for Phase One of Kinshasa-Brazzaville Bridge Project

January 19, 2025January 19, 2025 Constance0 comment

The total cost of the first phase of the Kinshasa-Brazzaville road-rail bridge construction project is estimated at $700 million. This figure was announced during a restitution meeting held on Wednesday, January 15, 2024, and chaired by Prime Minister Judith Suminwa. The meeting brought together delegations of experts from the Democratic Republic of Congo (DRC) and the Republic of Congo. DRC’s Minister of Infrastructure and Public Works, Alexis Gisaro, emphasized that this cost serves as a baseline, with the project expected to evolve over multiple phases. “Many other projects will be… Read More Here

Mining in DRC Mining in Zambia Transport and Logistics

Zambia and DRC to Clear 500 Trucks Daily to Ease Kasumbalesa Border Congestion

January 12, 2025January 20, 2025 Constance0 comment

Zambia and the Democratic Republic of Congo (DRC) have agreed to allow the clearance of at least 500 trucks per day to address the congestion at the Kasumbalesa border on the Copperbelt. This decision comes in response to the over 3,000 trucks marooned on the Zambian side of the border. Katanga Governor Jacques Katwe announced that another measure to alleviate the situation is extending the working hours for customs officers, from six hours to 20 hours, at the Kasumbalesa, Mokambo, and Sakanya border posts. Speaking at a meeting in Chililabombwe,… Read More Here

Mining in DRC

DRC’s Mineral Prices and Security Challenges Shape Economic Outlook for 2025

January 12, 2025January 12, 2025 Constance0 comment

In its economic outlook note for the first week of December 2025, released on January 9, the Central Bank of Congo (BCC) reported that as of December 30, 2024, the price of Brent crude oil stood at USD 74.15 per barrel, reflecting a slight increase of 0.57% from the previous week. The BCC attributed this rise to positive economic prospects for China, particularly after the country announced a recovery plan. However, on a yearly basis, the price of Brent crude has dropped by 4.78% compared to December 2023. Regarding copper,… Read More Here

Mining in DRC Oil & Gas Petroleum

Global Oil Price Hike Boosts DRC Revenue but Poses Local Economic Challenges

January 12, 2025January 12, 2025 Constance0 comment

The price of a barrel of oil, one of the Democratic Republic of Congo’s (DRC) key export products, rose by 1.00% on international markets, reaching $73.38 during the week of December 20–27, 2024, up from $72.65 the previous week, according to the Central Bank of Congo (BCC). This rebound follows a 1.53% decline the prior week and is attributed to China’s announcement of an expansionary fiscal policy aimed at revitalizing its economy. The price increase presents mixed outcomes for the DRC: Economists emphasize the need for balanced management of these… Read More Here

Mining in DRC Hydro power plant

Katende Hydropower Project Resumes Promising Economic Revival in Central DRC

January 12, 2025January 12, 2025 Constance0 comment

The long-awaited resumption of construction on the Katende hydroelectric power station in Kasaï Central has gained momentum with the delivery of over 120 tonnes of materials from Lubumbashi. This milestone signals a renewed commitment by the Congolese government to address the region’s energy deficit and stimulate economic growth. Funded directly by the public treasury to bypass bureaucratic delays, the Katende project reflects a strategic shift in approach. With 45% of construction already completed, the remaining work will be executed in three phases. The first phase is expected to deliver 16… Read More Here

Mining in DRC Governance

DRC Minister Receives Report Exposing South Kivu Mining Violations

January 12, 2025January 12, 2025 Constance0 comment

The Democratic Republic of Congo’s (DRC) Minister of Mines, Kizito Pakabomba, received a detailed report on January 8, 2025, from the Special Commission tasked with assessing the compliance of mining activities in South Kivu. After 15 days of rigorous investigations, the Commission reviewed operations of 18 out of 30 mining companies summoned by the Ministry of Mines. The report uncovered significant violations of the Mining Code and regulations, including: Minister Pakabomba commended the Commission for its thorough work and reaffirmed his ministry’s commitment to fostering sustainable and lawful mining practices.… Read More Here