Category: Mining in DRC

Congolese Franc Strengthens: Tshisekedi Urges Government to Reflect Gains in Household Prices Following his recommendation at the 63rd Council of Ministers meeting to establish a monitoring mechanism for the Congolese franc’s appreciation, President Félix Tshisekedi chaired an economic situation meeting on Wednesday evening, October 22, at the African Union City. The session brought together the Prime Minister, the Deputy Prime Ministers in charge of Budget and National Economy, the Minister of Finance, and several other senior government officials. President Tshisekedi emphasized the importance of consolidating citizens’ confidence in the national… Read More Here

CNPAV Reveals $1.36 Billion Loss in DRC’s Mutanda Mining Assets

DRC Loses Over $1.3 Billion in Mutanda Mining Deals, CNPAV Calls for Transparency Based on official data and independent financial analyses, the coalition “Congo is Not for Sale” (CNPAV) revealed on Friday that the Democratic Republic of Congo (DRC) has lost substantial resources due to undervaluation and the opaque sale of Gécamines’ assets in the Mutanda Mining (MUMI) project. In its report titled “Cobalt at a Discounted Price, Corruption at Full Price,” presented during a conference at Sylikin Village in Kinshasa, CNPAV documented the losses and irregularities in detail: “In… Read More Here

Washington Agreement Between DRC and Rwanda Formalizes Mineral Exploitation, Says Oakland Institute

Washington Agreement 2025: How the DRC-Rwanda Deal Fuels U.S.-Backed Mineral Exploitation A recent report from The Oakland Institute criticizes the Washington Agreement, signed on June 27, 2025, between the Democratic Republic of Congo (DRC) and Rwanda, calling it a formalization of the ongoing illicit exploitation of the DRC’s mineral wealth by American companies via Rwanda. The U.S. and the Historical Exploitation of Congo’s Minerals The report highlights the long-standing strategic importance of Congolese resources to the United States. It notes that “the bombs dropped on Hiroshima and Nagasaki were made… Read More Here

Mining in DRC Battery Metals Cobalt

DRC’s Cobalt Export Delays Continue Despite New Quota System

Cobalt Exports from DRC Still on Hold as New Quota System Faces Delays, Disrupting Global EV Supply Chains Cobalt producers in the Democratic Republic of Congo (DRC) are still waiting for government approval to resume exports, despite the introduction of a new quota system on October 16. Industry sources confirmed that the long-anticipated system—designed to restart shipments after a seven-month suspension—has yet to be fully implemented, prolonging uncertainty in global supply chains. Background: Seven-Month Export Freeze Disrupted Global Markets The DRC, which supplies over 70% of the world’s cobalt, imposed… Read More Here

Oakland Institute Warns DRC Against Potential Pitfalls of U.S. Mining Agreements

DRC’s New Deals with American Mining Firms Could Mirror Chinese “Minerals-for-Infrastructure” Failures, Oakland Institute Warns The Oakland Institute, a think tank advocating for fair debate on social, economic, and environmental issues, has issued a report cautioning about the long-term impacts of agreements between the Democratic Republic of Congo (DRC) and American companies. The warning follows the so-called Washington Agreement, signed on June 27, 2025, between the DRC and Rwanda, which serves as a backdrop for new U.S. investments in Congolese mining. The report compares these agreements to past arrangements between… Read More Here

Mining in DRC Corporate News Mergers & Acquisitions

Chengtun Mining Acquires Loncor Gold for C$261M, Secures Strategic Adumbi Gold Deposit in DRC

Chengtun Mining Expands into Gold with Acquisition of Loncor Gold and Adumbi Deposit Chengtun Mining, a Chinese mining group, has agreed to acquire Canadian gold exploration company Loncor Gold in an all-cash deal valued at C$261 million (approximately $186 million), gaining control of the Adumbi gold deposit in the Democratic Republic of Congo (DRC). The definitive arrangement agreement, announced on October 14, 2025, sets the purchase price at C$1.38 per Loncor share, representing a 33% premium over Loncor’s 30-day volume-weighted average price and a 16% premium to its TSX closing… Read More Here

Mining in DRC Corporate News Mining Personality

Olivier Binyingo Reaffirms KAMOA Copper’s Commitment to Economic Growth and Sustainable Development

Olivier Binyingo Showcases Kamoa Copper’s Role as a Catalyst for Sustainable Growth in the DRC Olivier Binyingo, Chairman of the Board of Directors of KAMOA Copper SA and Vice President of Ivanhoe Mines for the DRC and Strategic Projects, underscored the company’s strategic vision and its major contribution to the development of the Democratic Republic of Congo’s (DRC) mining industry. Speaking at a recent event, Binyingo described Kamoa-Kakula as a long-term mining venture, representing over USD 6 billion in investment over the past six years — a financial commitment that… Read More Here

Mining in DRC Economy

DRC Finance Minister Doudou Fwamba Strengthens IMF Partnership to Sustain Economic Reforms and Fiscal Stability

Doudou Fwamba and IMF Deputy Chief Kenji Okamura Discuss DRC’s Fiscal Discipline and Economic Resilience On the sidelines of the 2025 Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group, Democratic Republic of Congo (DRC) Finance Minister Doudou Fwamba Likunde Li-Botayi held a high-level meeting with IMF Deputy Managing Director Kenji Okamura. The discussions were also attended by the Deputy Minister of the Budget and the Governor of the Central Bank of Congo. At the heart of the exchange were the DRC’s macroeconomic performance, fiscal discipline,… Read More Here

DRC Mines Minister Showcases DRC’s Mining Ambitions at U.S.-DRC Economic Forum in Washington