Mining in DRC - Copperbelt Katanga Mining

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

November 30, 2024November 30, 2024 Constance

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 Constance

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

Mining in DRC Economy

U.S. Ambassador Highlights Challenges in DRC’s Business Climate at Kinshasa Workshop

November 24, 2024November 24, 2024 Constance

At a recent workshop in Kinshasa, U.S. Ambassador Lucy Tamlyn outlined the challenges facing the business climate in the Democratic Republic of Congo (DRC), stressing that some large international companies are reluctant to invest in the country due to concerns over its reputation. The event, which brought together government officials, private sector leaders, and civil society members, focused on creating a national action plan for the DRC. Ambassador Tamlyn highlighted the importance of the Human Rights and Security Volunteers initiative, established in 2000, which seeks to ensure that companies in… Read More Here

Mining in DRC Artisanal mining

Lualaba Governor Addresses Artisanal Mining in the Province

November 24, 2024November 24, 2024 Constance

Fifi Masuka, Governor of Lualaba province in the Democratic Republic of Congo (DRC), clarified the scale of artisanal mining operations in the region during a presentation of her first 100 days in office on Friday. She corrected the misconception that 5,000 artisanal miners were operating in the province, stating the actual number is closer to 450,000. “Sometimes, we manage them with patience and prayer,” Masuka remarked, acknowledging the potential dangers of large crowds of miners. “We’re fortunate they remain in the mines, where cooperatives organize them. However, the situation could… Read More Here

Mining in DRC Electricity

DRC Mining Sector Loses Billions Due to Energy Deficit

November 24, 2024November 24, 2024 Constance

Over the past five years, approximately $4 billion in potential revenue has bypassed the National Electricity Company (SNEL) due to the country’s chronic energy shortages. Fabrice Lusinde, the General Manager of SNEL, revealed this alarming figure during the Makutano Forum, shedding light on the significant energy deficit impacting the mining sector. According to Lusinde, mining companies currently purchase around $800 million worth of energy from SNEL annually. However, in addition to this, they import electricity worth $200 million from southern Africa and spend an additional $500 to $600 million on… Read More Here

Mining in DRC Economy

DRC Raises $65.57 Million in Treasury Bond Auction to Support National Projects

November 24, 2024November 24, 2024 Constance

The Government of the Democratic Republic of Congo (DRC) raised $65.57 million through a local Treasury Bond auction held on November 19, 2024, as announced by Minister of Finance, Doudou Fwamba. The auction, which attracted six bidders, including banks and credit companies, saw a coverage rate of 65.57%, falling short of the initial $100 million target. Despite not reaching the full target, the Minister emphasized that the funds raised are critical to supporting national projects and maintaining the country’s economic stability. The bonds issued carry an interest rate of 9%… Read More Here