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Category: Mining in DRC

DRC Diamond Exports Continue Strong Performance in Early 2024 1 Diamond Economy Mining in DRC 

DRC Diamond Exports Continue Strong Performance in Early 2024

Constance
In the first quarter of 2024, the Democratic Republic of Congo (DRC) reported diamond exports totaling 1,970,188.55 carats, generating revenues of USD 17.96 million, according to the Technical Cell for Coordination and Mining Planning (CTCPM). This underscores the DRC’s sustained significance in the global diamond industry. The primary markets for Congolese diamonds remain Belgium and the United Arab Emirates, both of which play pivotal roles in the international diamond trade. Belgium, historically a key diamond trading hub, imported 890,005.74 carats, valued at USD 7.28 million. Of these exports, industrial diamonds… Read More Here
DRC and Burundi Strengthen Bilateral Cooperation for Economic Growth 2 Mining in DRC Economy Governance 

DRC and Burundi Strengthen Bilateral Cooperation for Economic Growth

Constance
President Félix-Antoine Tshisekedi of the Democratic Republic of Congo (DRC) met with his Burundian counterpart, Évariste Ndayishimiye, on Sunday, December 22, 2024, in Bujumbura for a friendship visit aimed at enhancing bilateral relations and regional stability, key to the economic development of both nations. This two-hour meeting marks a significant step in revitalizing the economic ties between the DRC and Burundi. The two leaders emphasized the importance of deepening trade and cross-border collaborations, particularly in infrastructure, energy, and natural resources. According to a source close to the Congolese presidency, “The… Read More Here
DRC Energy Consultations Set Goal to Achieve 62% Electricity Access by 2030 3 Mining in DRC Electricity Energy Events & Expos 

DRC Energy Consultations Set Goal to Achieve 62% Electricity Access by 2030

Constance
The “DRC Energy Compact” program, centered on the Democratic Republic of Congo’s (DRC) energy transition, concluded on Thursday, December 19, 2024, after two days of impactful discussions, innovative ideas, and strategic exchanges. Held under the patronage of President Félix-Antoine Tshisekedi, the event brought together experts, government officials, and institutional actors to address the challenges and opportunities in modernizing the DRC’s energy sector. Discussions focused on financing, international partnerships, and infrastructure development to expand access to sustainable energy across the nation. Supported by the World Bank and the African Development Bank… Read More Here
DRC President Promulgates $18 Billion Finance Law for 2025 4 Mining in DRC Economy Governance 

DRC President Promulgates $18 Billion Finance Law for 2025

Constance
On December 22, 2024, President Félix Tshisekedi of the Democratic Republic of Congo (DRC) officially promulgated the Finance Law for the 2025 fiscal year. The budget, unanimously adopted by both chambers of the Congolese Parliament, totals 51,553.54 billion Congolese francs (CDF), equivalent to approximately $18 billion at the budgetary exchange rate. The 2025 budget marks a 25.8% increase from the previous year, underscoring the government’s commitment to enhancing internal resource mobilization and optimizing financial authority performance. This significant growth reflects confidence in the national economy and bolsters the government’s credibility… Read More Here
Japan Commits $15 Million to Rehabilitate Maréchal Bridge in the DRC 5 Mining in DRC Infrastructural Development 

Japan Commits $15 Million to Rehabilitate Maréchal Bridge in the DRC

Constance
On December 23, 2024, the Japanese government announced a $15 million investment to rehabilitate the Maréchal Bridge in Matadi, located in Kongo Central province. The commitment was formalized by Japan’s Ambassador Extraordinary and Plenipotentiary to the Democratic Republic of Congo (DRC), Ogawa Hidetoshi, during a cooperation agreement signing ceremony in Kinshasa. Ambassador Ogawa emphasized that the rehabilitation of the bridge and its access roads will significantly enhance the living conditions of Kongo Central residents. The project will also improve the flow of transport on this strategic route, which is critical… Read More Here
Central Bank of Congo Reports Mixed Trends in Commodity Prices for December 2024 6 Mining in DRC Economy 

Central Bank of Congo Reports Mixed Trends in Commodity Prices for December 2024

Constance
The Central Bank of Congo (BCC), in its economic report for the second week of December 2024, highlighted varied price trends for major commodities as of December 12, 2024. Key Commodities Performance International food commodity prices generally showed a downward trend: The BCC report underscores the diverse performance of raw materials, with some commodities like gold and copper maintaining year-on-year growth, while others like cobalt and staple foods have seen declines. These trends reflect shifting global market dynamics and their impact on the DRC’s economy. Read More Here
Nioka Mining Site Freed from Illegal Occupation by Artisanal Miners 7 Artisanal mining Mining in DRC 

Nioka Mining Site Freed from Illegal Occupation by Artisanal Miners

Constance
After two weeks of illegal occupation, the Nioka mining site was finally liberated on Thursday, December 19, 2024, following the deployment of the Armed Forces of the Democratic Republic of Congo (FARDC). The operation’s success was confirmed by multiple media outlets in Lualaba. While police intervention led to violent clashes, sources report that the artisanal miners voluntarily vacated the site after demolishing the walls of the fence. The FARDC had been stationed in the area on orders from the provincial authorities to prevent further incursions, according to Maître Christian Kakele,… Read More Here
Seventeen Chinese Migrants Arrested for Illegal Mining in South Kivu 8 Mining in DRC 

Seventeen Chinese Migrants Arrested for Illegal Mining in South Kivu

Constance
Seventeen Chinese migrants, found staying illegally in South Kivu province, were presented to the press in Bukavu, the province’s capital, on Friday, December 20, 2024. Bernard Muhindo, the Provincial Minister of Finance, explained that the migrants were discovered working in the mines of Walungu territory, specifically at a gold mine in Karhembo. They lacked the required documentation and were working for a company without an operating permit, thus violating Congolese regulations. Muhindo criticized the fact that these migrants were benefiting from the profits of Congolese mines, while the local population… Read More Here
Gécamines Workers Strike Over Illegal Occupation of Djambelwa Copper Deposit 9 Mining in DRC Corporate News 

Gécamines Workers Strike Over Illegal Occupation of Djambelwa Copper Deposit

Constance
Gécamines agents in Likasi, Haut Katanga province, have been on strike for three days, protesting the illegal occupation of a copper deposit by a mining cooperative. Etienne Musinde, President of the union delegation, explained to the foreign press, “Given that most of our deposits have been leased, the Djambelwa deposit has become crucial for Gécamines. It must be used to restart production in Likasi. While exploration is underway at Djambelwa, a cooperative called ‘Salama’ has been forcibly installed, with military backing, halting all Gécamines activities at the site.” The workers… Read More Here
Gold Price Increase Supports DRC's Economic Growth Amid Global Uncertainty 10 Mining in DRC Economy Gold 

Gold Price Increase Supports DRC’s Economic Growth Amid Global Uncertainty

Constance
The price of gold, the Democratic Republic of Congo’s (DRC) leading export mineral, experienced a modest increase during the week of December 16 to 21, 2024. According to data from the National Commission of Mercuriales, part of the Ministry of Foreign Trade, the price of a gram of gold reached $86.05, reflecting a 0.66% increase compared to the previous week. This rise can be attributed to several factors, including increased demand for gold as a safe-haven asset amid global economic uncertainties. As a key source of revenue for the DRC,… Read More Here

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