DRC Govt Gains 100% Control of Primera Gold DRC SA
The Congolese government has regained full ownership of Primera Gold DRC SA, acquiring all shares held by its former Emirati partner, Primera Group Limited.
This strategic move aims to position the Democratic Republic of Congo (DRC) as the leading exporter of gold from artisanal and small-scale mining, ensuring greater benefits for local communities impacted by mining activities.
The transition also involved a redistribution of shares within the company, now renamed DRC Gold Trading SA. The Congolese state holds a 55% majority stake, while Gécamines and the Mining Fund for Future Generations (FOMIN) acquired 15% and 30%, respectively.
The official signing ceremony, presided over by the Minister of Portfolio, Jean Lucien Bussa Tongba, took place on November 13, 2024.
President Félix Antoine Tshisekedi Tshilombo emphasized the importance of this initiative during his visit to Buta, Bas-Uélé Province, urging citizens to avoid smuggling routes and support the newly established company. “This is our company. Bring your gold here to build the nation and create jobs for Congolese people,” he stated.
DRC Gold Trading SA has outlined several key strategies to realize its vision of eradicating mining fraud and fostering equitable wealth distribution:
- Channelling Gold into Official Circuits:
By formalizing artisanal and small-scale gold mining, the company aims to handle an average of 150 tonnes of gold over five years, generating over $12 billion in revenue. - Supporting Local Communities:
Integrative projects include health insurance for artisanal miners and universal healthcare coverage for their dependents. The pilot phase begins in South Kivu, with plans to expand nationwide. - Education Development:
The company plans to combat school dropouts through its “Zero Wooden Wall Schools” initiative, focusing on mining regions. - Branch Expansion:
New branches are opening in provinces like Tanganyika, Bas-Uélé, Maniema, and Ituri to streamline gold collection and operations.
The expected outcome is to centralize artisanal gold production, creating transparent and credible supply chains while influencing gold prices.
This effort aims to curtail resource plundering, ensure equitable wealth redistribution, and boost the nation’s economic growth.
The government and security forces are committed to supporting this initiative, which marks a significant step in defending the nation’s mineral wealth and ensuring its benefits reach the Congolese people.
