Mining in DRC - Copperbelt Katanga Mining

DRC Faces Budget Deficit of $164 Million Amid Rising Public Expenditures 1

The Democratic Republic of Congo (DRC) reported a budget deficit of approximately 575.9 billion Congolese Francs (CDF), equivalent to over $164 million, as of November 13, 2024, according to the Central Bank of Congo (BCC). Public revenues totaled 22,548.8 billion CDF for the year, while expenditures reached 23,124.7 billion CDF, highlighting a financial imbalance that raises concerns about the sustainability of public finances and the government’s capacity to fulfill its obligations. Economic analysts attribute this deficit to surging expenditures, particularly on civil servant salaries and exceptional outlays. A significant portion… Read More Here

Mining in DRC Governance

President Tshisekedi Opens 11th Governors’ Conference in Kalemie

November 30, 2024November 30, 2024 Constance0 comment

President Félix-Antoine Tshisekedi Tshilombo presided over the 11th Governors’ Conference on Wednesday, November 27, 2024, in Kalemie, Tanganyika Province. This annual event serves as a platform for dialogue between provincial governors and the national executive. Spanning three days, from November 27 to 29, the conference gathers governors elected during the December 2023 electoral process. They will engage with experts and senior officials with extensive experience at the national level to exchange knowledge and insights. This year’s discussions center on the Local Development Program of the 145 Territories (PDL 145-T) under… Read More Here

Mining in DRC Governance Infrastructural Development Transport and Logistics

DRC Plans Strategic Partnership with China to Advance Transport and Infrastructure Projects

November 30, 2024November 30, 2024 Constance0 comment

The Democratic Republic of Congo (DRC) is strengthening its collaboration with China to accelerate development in key sectors, including transport. Deputy Prime Minister and Minister of Transport, Communication Routes, and Disenclavement, Jean-Pierre Bemba Gombo, emphasized this partnership during a Council of Ministers meeting on November 22, 2024. Bemba presented an information note detailing efforts to prepare a comprehensive list of projects to be submitted to Chinese financial institutions as part of the Sino-Congolese cooperation framework. According to the minutes of the Council of Ministers, the finalized project lists were discussed… Read More Here

Mining in DRC Economy Gold

DRC Gold Sector Shines with Over 7 Tons Produced in Q1 2024

November 30, 2024November 30, 2024 Constance0 comment

In the first quarter of 2024, the Democratic Republic of Congo (DRC) achieved remarkable gold production, totaling 7,153.58 kilograms. This highlights the nation’s vast gold potential, despite ongoing challenges in the sector. Data from the Technical Cell for Coordination and Mining Planning reveals that industrial mining dominated production with 6,462.61 kilograms, led by Kibali Gold Company, which contributed 6,445.61 kilograms. The MCC Company added 17 kilograms to this total. Meanwhile, artisanal mining accounted for 690.97 kilograms, underscoring its significance in the local economy, where thousands of miners rely on gold… Read More Here

Mining in DRC Diamond Economy

DRC Diamond Exports Reach $18 Million in Q1 2024 Amid Production Decline

November 30, 2024November 30, 2024 Constance0 comment

In the first quarter of 2024, the Democratic Republic of Congo (DRC) achieved diamond exports worth nearly $18 million, driven by the export of 1,970,188 carats. Despite the notable revenue, the sector faces challenges, including declining production and fluctuating market conditions. The Technical Cell for Coordination and Mining Planning reported diamond production of 931,876.98 carats in the same period. The DRC’s diamond industry continues to grapple with production variability, a trend that has raised concerns among stakeholders. Breakdown of Production by Segment: All production was exported to key markets, including… Read More Here

Mining in DRC Economy

DRC’s Cassiterite Production Soars to 8,218 Tonnes in Q1 2024

November 30, 2024November 30, 2024 Constance0 comment

Cassiterite production in the Democratic Republic of Congo (DRC) surged to 8,218.54 tonnes in the first quarter of 2024, according to the Ministry of Mines’ Technical Unit for Coordination and Mining Planning. This substantial growth highlights cassiterite’s increasing role in the DRC’s economy. Industrial mining accounted for the majority of production, with Alphamin leading the sector by producing 5,488.86 tonnes. Sakima contributed 50 tonnes, reflecting a trend toward more organized and regulated mining practices. Artisanal mining also made a significant impact, producing 2,679.68 tonnes. Key artisanal production regions included Haut-Lomami,… Read More Here

Mining in DRC Events & Expos

Kizito Pakabomba Advocates DRC’s Participation in Mining Indaba and PDAC 2025 to Unlock its Potential

November 28, 2024November 28, 2024 Constance

Congolese Minister of Mines, Kizito Pakabomba Kapinga, has emphasized the importance of the Democratic Republic of Congo’s (DRC) participation in two key mining events in 2025: the Mining Indaba, from February 2 to 6 in Cape Town, South Africa, and the Prospectors and Developers Association of Canada (PDAC) forum, from March 2 to 5 in Toronto. Minister Pakabomba highlighted these forums as critical platforms for promoting long-term economic growth and sustainable development. He noted that such events provide opportunities to attract investments, form partnerships, and explore technological advancements in the… Read More Here

Mining in DRC Battery Metals Cobalt

Cobalt Demand Gives DRC Strategic Edge in Europe’s Green Energy Race

November 27, 2024November 27, 2024 Constance

The surging demand for materials critical to electromobility, particularly cobalt, has thrust the Democratic Republic of Congo (DRC) into the spotlight, offering it newfound leverage as Europe scrambles to secure resources for its energy transition goals. Marie-Pierre Vedrenne, a member of the European Parliament, emphasizes the need for a united EU approach to ensure a sustainable and ethical supply of raw materials. “The extraction processes must align with our vision of avoiding exploitation and eradicating child labor under horrendous conditions,” Vedrenne, from the pro-European Renew Europe group, told DW. Cobalt, a… Read More Here

Mining in Zambia Infrastructural Development Mining in DRC

Zambia and DRC Unite to Build Key Cross-Border Road Boosting Regional Trade

November 25, 2024November 25, 2024 Constance

Zambia and the Democratic Republic of Congo (DRC) have signed a landmark agreement to construct a 145-kilometer road linking Kolwezi in the DRC to Lumwana in Zambia, passing through the Kambimba-Sakabinda border posts. This ambitious project, formalized in Kolwezi, Lualaba Province, aims to enhance border infrastructure, streamline trade, and strengthen economic ties between the two nations. The agreement, signed by Zambia’s Minister of Infrastructure, Housing, and Urban Development, Charles Milupi, and DRC’s Minister of Infrastructure and Public Works, Alexis Muvunyi, includes the construction of a one-stop border post to facilitate… Read More Here

Gold Economy Mining in DRC News in Brief

Gold Price Drop Impacts DRC Mining Exports

November 24, 2024November 24, 2024 Constance

The price of gold, a key export for the Democratic Republic of Congo (DRC), has decreased by 2.93% on global markets. From November 18-23, 2024, the price per gram fell to USD 86.12, down from USD 88.72 the previous week, according to a press release from the Ministry of Foreign Trade. This decline is part of broader global fluctuations in raw material prices, particularly observed between November 11-16, 2024. Price volatility on international markets continues to challenge the DRC, where Read More Here