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DRC Receives Praise for Economic Progress at World Bank and IMF Spring Meetings 21 Mining in DRC Economy Events & Expos 

DRC Receives Praise for Economic Progress at World Bank and IMF Spring Meetings

Constance
During the 134th Council of Ministers, the Minister of Finance shared positive feedback from the recent Spring Meetings of the World Bank Group and the International Monetary Fund (IMF) held in Washington, United States. The Democratic Republic of Congo (DRC) was commended for its peaceful December 2023 elections and macroeconomic advancements. According to the minutes of the meeting, senior representatives from the Bretton Woods institutions praised the DRC for its peaceful elections and macroeconomic achievements, particularly robust economic growth and increased international reserves. However, the IMF highlighted the need for… Read More Here
Civil Society Urges Prime Minister to Prioritize Anti-Corruption Efforts in DRC 22 Mining in DRC Governance 

Civil Society Urges Prime Minister to Prioritize Anti-Corruption Efforts in DRC

Constance
In a press conference held on Friday, May 3, 2024, at Claver Hall in the Gombe commune, members of the civil society platform “Congo is not for sale” (CNPAV) urged Prime Minister Judith Suminwa to make the fight against corruption a top priority in the Democratic Republic of Congo. Jean-Claude Mputu, spokesperson for CNPAV, and Jimmy Kande, a member of the organization, highlighted the pervasive nature of corruption in the country’s political and institutional life. They called upon the future government and the judicial system to prioritize this fight, following… Read More Here
President Tshisekedi Addresses Congolese Community Concerns on Governance and Corruption 23 Mining in DRC Governance 

President Tshisekedi Addresses Congolese Community Concerns on Governance and Corruption

Constance
The issue of governance, corruption, and misuse of public funds in the Democratic Republic of Congo (DRC) extends beyond its borders, affecting Congolese communities abroad. In response to inquiries from the Congolese community in Belgium on May 3, 2024, President Félix Tshisekedi addressed measures implemented to tackle these challenges and foster development in the DRC. Acknowledging the longstanding nature of this issue, President Tshisekedi emphasized that his administration has prioritized addressing corruption. He highlighted efforts to track financial wrongdoings through the General Inspectorate of Finance (IGF), signaling a shift towards… Read More Here
DRC Enhances Geological Exploration Capabilities with Remote Sensing Training 24 Mining in DRC 

DRC Enhances Geological Exploration Capabilities with Remote Sensing Training

Constance
In Kinshasa, on May 2, 2024, the Secretary General of Mines, Jacques Ramazani Lutuba, inaugurated a training program in remote sensing applied to geological exploration for Ministry of Mines personnel. The initiative aims to equip Congolese experts with practical knowledge to conduct efficient and autonomous geological research missions using geophysical methods. Lutuba emphasized the importance of the training in enhancing the expertise of Ministry of Mines staff, urging participants to diligently follow both theoretical and practical lessons. The ultimate goal is to empower them with skills in remote sensing techniques… Read More Here
TFM Highlights Role in Driving DRC's Industrial Growth at KBM 2024 25 Mining in DRC Events & Expos 

TFM Highlights Role in Driving DRC’s Industrial Growth at KBM 2024

Constance
Tenke Fungurume Mining (TFM) played a significant role at the 2024 Katanga Business Meeting (KBM), themed “Investing in industrial centers for a new dynamic of growth in the DRC.” The event, held in Kolwezi from May 3 to 4, brought together various companies to discuss strategies for stimulating the Democratic Republic of Congo’s (DRC) economy. TFM actively participated in KBM 2024, with key experts contributing to panels focusing on diverse topics such as the emergence of a mining industrial cluster, professional training, job creation, and special economic zones. Hugo Sinza,… Read More Here
DRC: the price of copper exceeds the mark of 10,000 USD per tonne 26 Mining in DRC Copper Economy 

DRC: the price of copper exceeds the mark of 10,000 USD per tonne

Constance
The price of copper surged by 2.19% weekly, reaching USD 10,024.50 per tonne, marking its highest level in two years. Analysts at the Central Bank of Congo (BCC) attribute this increase to rising Chinese imports. Year-to-date, copper prices have risen by 17.51% compared to December 31, 2023, and over the past twelve months, they have increased by 16.70%. This uptrend presents an opportune moment for the Government of the Democratic Republic of Congo to capture more revenue from mining companies operating in the country, especially with the renegotiated Chinese contract… Read More Here
DRC Diamond Exports Experience Historic Decline Over a Decade 27 Mining in DRC Diamond Economy 

DRC Diamond Exports Experience Historic Decline Over a Decade

Constance
Over the span of a decade, from 2013 to 2023, the Democratic Republic of Congo (DRC) has witnessed a significant downturn in diamond exports, as revealed by statistical data from the Ministry of Mines via the technical cell for coordination and mining planning (CTCPM). In 2023, the DRC’s diamond production reached 8,305,796.60 carats, nearly half of the 2017 production peak of 17,924,982.26 carats, marking the lowest level recorded since 2019. Compared to 2022, diamond production in 2017 experienced a decline of over 28%. Over the past five years, it has… Read More Here
CAMI Advocates for Mining Sector Development at Katanga Business Meeting 28 Mining in DRC 

CAMI Advocates for Mining Sector Development at Katanga Business Meeting

Constance
The Mining Cadastre (CAMI) actively participated in the 5th edition of the Katanga Business Meeting (KBM) in Kolwezi, Lualaba province. Popol Mabolia Yenga, CAMI’s Director General, joined a high-level panel to discuss mining potential development. During the forum, CAMI presented solutions to enhance the mining sector in the DRC. Mabolia emphasized the importance of cleaning up the cadastral file to promote geological research and reclaim industrial sovereignty. “We came here to represent CAMI and discuss solutions to improve the mining sector amidst the global shift towards green economies,” said Mabolia.… Read More Here
DRC President Tshisekedi Seals IMF Agreement on Economic Program 29 Mining in DRC Governance 

DRC President Tshisekedi Seals IMF Agreement on Economic Program

Constance
President Félix Tshisekedi of the Democratic Republic of Congo (DRC) met with an International Monetary Fund (IMF) delegation led by Calixte Ahokpossi on Wednesday, May 8, at the African Union City. This meeting marked the closure of the sixth review of the DRC’s economic and financial program. Ahokpossi announced that the DRC authorities and the IMF team had reached a staff-level agreement for concluding the sixth review under the Extended Credit Facility (ECF) arrangement, pending validation by IMF management. He expressed satisfaction with the progress made by the government, indicating… Read More Here
ZESCO Imports Electricity Amid Drought-Induced Power Shortages 30 Mining in Zambia Electricity 

ZESCO Imports Electricity Amid Drought-Induced Power Shortages

Constance
ZESCO has announced the commencement of electricity imports to mitigate the impact of reduced capacity caused by an ongoing drought. The imported electricity will contribute 20% of the total power supply for a minimum of 12 months, according to a statement released by the power utility. Matongo Maumbi, ZESCO’s spokesperson, acknowledged potential challenges associated with the imported power. He stated that while efforts will be made to maintain existing load-shedding schedules, unforeseen disruptions may occur. However, ZESCO is committed to addressing any disruptions promptly to minimize inconvenience to customers. Maumbi… Read More Here

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