Gold Ore Prices Show Increment in Early April 2024, Boosting DR Congo’s Economy
Gold ore prices saw a slight increase in the first week of April 2024, continuing a trend that had been progressing well for several weeks.
Data from the National Mercurial Commission of the Ministry of Foreign Trade of the Democratic Republic of Congo indicated that during the week of April 1 to 6, a gram of gold sold at 70.45 USD, compared to 69.91 USD the previous week, marking a 0.77% increase.
This upward trajectory in gold prices globally is expected to positively impact the economy of the Democratic Republic of Congo, positioning it among the leading gold producers.
Statistics from the Ministry of Mines revealed that the Democratic Republic of Congo achieved a record figure in gold exports in 2023.
The country exported a total of 34.5 tonnes of gold to various markets, generating revenues of approximately 1.5 billion US dollars, as per the annual report of the Technical Coordination and Mining Planning Unit of the Ministry of Mines.
Notably, Kibali Gold company led the exports, shipping over 29 tonnes of gold valued at 905.5 million US dollars. In contrast, MCCR company exported 15.83 kg, earning revenues of 847,103 US dollars.
Data also indicated that Kibali Gold company dominated Congolese gold exports from industrial exploitation in 2023, accounting for around 99.8% of the quantity exported, with only 0.1% attributed to MCCR.
Artisanal mining contributed significantly to gold exports as well, with exports of raw gold estimated at over five (5) tonnes, generating revenues of 306 million US dollars in 2023.
