DRC’s Mining Sector Generates $4.36 Billion in 2024
The mining sector of the Democratic Republic of Congo (DRC) generated $4.36 billion in 2024, accounting for approximately 41.3% of the country’s total revenue, estimated at over $10.62 billion.
This was reported by the financial rating agency Standard & Poor’s (S&P) in a recent post on its X (formerly Twitter) account.
According to S&P, this performance resulted from multiple sources of revenue, including income tax on expatriates’ salaries, exceptional taxes on foreign workers’ compensation, permits for exploration or exploitation, and mining royalties.
The latest report from the DRC Ministry of Mines indicates that the country had a remarkable performance in 2024, exporting 3 million tons of copper, reinforcing its position as the world’s second-largest producer of the metal, behind Chile.
Additionally, gold exports generated approximately $1.5 billion in 2024, with a total production of 27.9 tons. During the same period, tin ore exports amounted to $512.9 million, with 42 tons shipped abroad.
The DRC ranks as the leading African country in mining export expenditures for 2024. According to S&P, the country attracted more investors and captured increased foreign direct investment.
S&P attributes this performance to the leadership of Minister Kizito Pakabomba Kapinga, stating, “The mining sector has never been as attractive as under the leadership of Kizito Pakabomba Kapinga.”
The agency also highlighted the country’s improved credibility under the management of this former Total executive. Furthermore, S&P commended President Félix Tshisekedi’s administration for ensuring governance that aligns with international standards, noting it contrasts sharply with the instability and opacity that characterized the sector between 1996 and 2018.
