Primera Gold Renamed DRC Gold Trading as State Gains Full Ownership
The Congolese government has renamed Primera Gold DRC SA to DRC Gold Trading SA following its complete acquisition of the company. Initially established as a joint venture between the Democratic Republic of Congo (DRC) and the United Arab Emirates in December 2022, the company is now fully under Congolese control.
Revised statutes formalized the name change, with the shareholding structure now comprising 55% ownership by the state, 15% by Gécamines, and 30% by the Mining Fund for Future Generations (FOMIN).
During the 60th anniversary of Blessed Anuarite Nengapeta in Buta on December 1, 2024, President Félix Tshisekedi emphasized the importance of the company in curbing illegal gold trade.
He encouraged Congolese miners to sell their gold through DRC Gold Trading SA rather than relying on smuggling, which has historically benefited foreign nations at the expense of the DRC.
DRC Gold Trading SA aims to bring gold from artisanal and small-scale mining into the formal market. The company projects an average production of 150 tonnes of gold over five years, translating into a turnover exceeding $12 billion.
This initiative is expected to increase miners’ incomes, enhance state revenue, and ensure equitable distribution of wealth.
Community-Focused Projects
The company’s vision includes community-oriented projects, such as:
- Health Insurance Programs: Providing health coverage for miners and their dependents, starting with a pilot phase in South Kivu.
- Education Initiatives: Combating school dropouts through the “Zero Wooden Wall Schools” project in gold-mining areas.
Expanding Reach
DRC Gold Trading SA is actively establishing branches across key provinces. A branch opened in Kalemie, Tanganyika, on November 18, 2024, with others planned for Buta (Bas-Uélé), Kindu (Maniema), and Bunia (Ituri) by year-end.
The company’s strategic initiatives aim to strengthen the formal gold trade, ensuring sustainable development, transparency, and significant benefits for local communities.
