Breaking News
Fuel Prices Drop by 13% in DRC's West Zone as Govt Moves to Combat High Cost of Living 39 Mining in DRC Oil & Gas Petroleum 

Fuel Prices Drop by 13% in DRC’s West Zone as Govt Moves to Combat High Cost of Living

Constance
The price of fuel in the Democratic Republic of Congo’s (DRC) West zone has seen a significant reduction, with gasoline dropping from 3,340 to 2,990.49 Congolese francs per liter, a 13% decrease. Similarly, diesel prices have fallen from 3,435 to 2,979.73 Congolese francs per liter, also marking a 13% reduction. This price cut follows the orders signed on Wednesday, October 2, by Daniel Mukoko Samba, the Vice Prime Minister and Minister of the National Economy. According to a statement from the Ministry of National Economy, the government is closely monitoring… Read More Here
DRC Criticizes US Department of Labor for Including Congolese Cobalt on Forced Labor List 40 Mining in DRC Cobalt 

DRC Criticizes US Department of Labor for Including Congolese Cobalt on Forced Labor List

Constance
The Democratic Republic of Congo (DRC) has expressed strong disapproval of the United States Department of Labor’s decision to include Congolese cobalt in its 2024 list of goods produced by child or forced labor. On October 1, the DRC government issued a statement describing the decision as “unjustified,” arguing that it overlooks significant reforms in the regulation of both artisanal and industrial mining in the country. “The decision fails to acknowledge the substantial efforts and progress made in regulating artisanal and industrial mining. It undermines international systems designed to ensure… Read More Here
DRC and Angola Sign Key Agreement on Revenue Sharing for Block 14/23 Oil Exploitation 41 Mining in DRC Exploration Oil & Gas 

DRC and Angola Sign Key Agreement on Revenue Sharing for Block 14/23 Oil Exploitation

Constance
On Wednesday, October 2, 2024, in Luanda, Angola, the Democratic Republic of Congo (DRC) and Angola signed the Regulation of the Supervision Commission of the Common Account for the Zone of Common Interest (ZIC) and an Agreement on revenue sharing and tax compliance related to ZIC – Block 14/23. This signing took place during the Angola Oil & Gas (AOG) International Conference, in the presence of Angolan President João Lourenço. DRC’s Minister of Finance, Doudou Fwamba Likunde Li-Botayi, and his Angolan counterpart, Vera Esperança dos Santos Daves da Costa, formalized… Read More Here
DRC Commits to Reducing Child Labor in Artisanal Mines 42 Mining in DRC Artisanal mining 

DRC Commits to Reducing Child Labor in Artisanal Mines

Constance
DRC Minister of Mines, Kizito Pakabomba, reaffirmed the government’s commitment to reducing child labor in artisanal mines. Speaking during a press conference in Kinshasa, he highlighted collaborative efforts with international organizations and ministries such as the Interior and Defense to rescue children from dangerous mining environments and reintegrate them into age-appropriate activities. “The locations where these children work are well identified. We are working with ministerial commissions and international organizations to relocate them and remove them from the mines,” the minister stated. Pakabomba also addressed recent reports by UNICEF during… Read More Here
DRC Govt Proposes Certification System for Mining Reserves 43 Mining in DRC Governance 

DRC Govt Proposes Certification System for Mining Reserves

Constance
During the 17th Council of Ministers meeting on Friday, October 11, in Kinshasa, Congolese Minister of Mines Kizito Pakabomba presented an information note on the government’s need to establish mechanisms for certifying mining reserves. Pakabomba emphasized that internationally recognized best practices for certifying mineral reserves involve a set of standards and methodologies used to evaluate, document, and certify mineral resources. These practices are essential to ensuring transparency, accuracy, and credibility in the information regarding the country’s mining reserves. According to the Minister of Mines, several key steps are required to… Read More Here
DRC Govt Moves to Block Illicit Mineral Trade in Rebel-Held Rubaya 44 Mining in DRC 

DRC Govt Moves to Block Illicit Mineral Trade in Rebel-Held Rubaya

Constance
During a press café in Kinshasa, Congolese Minister of Mines, Kizito Pakabomba, reaffirmed the government’s commitment to halting the illegal commercialization of minerals from the Rubaya mining area in North Kivu’s Masisi territory. This strategic site fell under the control of the M23 insurgents and the Rwandan army in early May. Pakabomba emphasized that the government’s primary focus is combating the illicit trade of minerals, including coltan, a key component in the electronics industry, exploited by the rebels. “We have issued orders to ban all mining activities in the Rubaya… Read More Here
Congolese Minister of Mines Opposes New Financial Authority for Mining Sector 45 Mining in DRC News in Brief 

Congolese Minister of Mines Opposes New Financial Authority for Mining Sector

Constance
Kizito Pakabomba, the Congolese Minister of Mines, rejected the idea of creating a separate financial authority for the mining sector during a press café in Kinshasa, hosted by the mining registry. Pakabomba argued that establishing another agency would only add unnecessary bureaucracy, noting concerns from the International Monetary Fund (IMF) about the country’s budgetary inefficiencies. He highlighted that the mining sector already contributes nearly 50% to the national budget, emphasizing that the Ministry of Finance manages mining revenues effectively. The minister reaffirmed his commitment to working with the IMF to… Read More Here
ARSP Director General Settles 30% of Debt Arrears to Public Partners 46 Mining in DRC Governance 

ARSP Director General Settles 30% of Debt Arrears to Public Partners

Constance
Miguel Kashal, the Director General of the Regulatory Authority for Subcontracting in the Private Sector (ARSP), has made a significant payment of 30% toward clearing the debt arrears owed since 2020 to three key public entities: FOGEC, ANADEC, and APOCEM. This initiative demonstrates ARSP’s commitment to advancing the emergence of a true Congolese middle class, in alignment with the vision of President Félix Tshisekedi and in collaboration with the supervising ministry. The remaining debt, which predates Kashal’s appointment, is expected to be settled soon. Observers see this move as a… Read More Here
DRC Set to Gain 922.4 Billion CDF from Sino-Congolese Contract Renegotiation 47 Mining in DRC Economy 

DRC Set to Gain 922.4 Billion CDF from Sino-Congolese Contract Renegotiation

Constance
The Democratic Republic of Congo (DRC) is poised to receive a significant boost of 922.4 billion Congolese Francs (CDF) in October 2024 due to the renegotiation of the Sino-Congolese contract. This anticipated cash flow plan outlines a total of public resources amounting to 2,483.4 billion CDF, which includes exceptional revenues from the revised agreement. Congolese authorities aim for this amendment to rebalance benefits between the two parties involved. For October 2024, public expenditure is estimated at 3,071.8 billion CDF, highlighting the necessity for rigorous management of public finances. The DRC… Read More Here

You have successfully subscribed to the newsletter

There was an error while trying to send your request. Please try again.

Copperbelt Katanga Mining will use the information you provide on this form to be in touch with you and to provide updates and marketing.