Mining in DRC - Copperbelt Katanga Mining

Political Authorities Accused of Coercive Mining Contracts in Lualaba and Haut-Katanga 1

The Platform of Organizations for the Promotion and Defense of Economic, Social, and Cultural Rights in the Democratic Republic of Congo (DESC/DRC) has released a revealing investigation titled “Implementation of Transparency in the Management of Extractive Industries in a Politicized Sector.” The report highlights how influential political figures in the DRC exploit state mining assets, particularly through contracts awarded by Gécamines under questionable circumstances. Key Findings: The report also scrutinizes the Entreprise Générale de Cobalt (EGC), a subsidiary of Gécamines established in November 2019 to oversee the ethical purchase and… Read More Here

DRC Seeks Mining Partners to Diversify Away from Chinese Dominance

January 19, 2025January 19, 2025 Constance

The Democratic Republic of Congo (DRC), the world’s top cobalt producer and a key source of copper and other critical minerals, is actively seeking new mining investors to diversify its partnerships and reduce heavy reliance on Chinese companies. This includes pursuing investments from Saudi Arabia, the European Union, and India, according to Marcellin Paluku, Deputy Cabinet Director in the Ministry of Mines. Chinese companies, many of them state-backed, have emerged as the largest investors in the DRC in recent years, significantly expanding their footprint in the country’s mining sector. CMOC… Read More Here

Mining in DRC Governance

President Tshisekedi Pushes for Mineral Traceability to Curb Armed Group Funding in the DRC

January 19, 2025January 19, 2025 Constance

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 Constance

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 Constance

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 Constance

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 Constance

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 Constance

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 Constance

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 Constance

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