DRC Faces $164 Million Budget Deficit Amid Rising Public Expenditures The Democratic Republic of Congo (DRC) is grappling with a budget deficit of approximately 575.9 billion Congolese Francs (CDF), equivalent to over $164 million, as of November 13, 2024, according to the Central Bank of Congo (BCC). This financial shortfallContinue Reading
Mimosa Resources and Mkushi Traditional Leaders Inspired by FQM’s Sustainable Mining Practices Mimosa Resources, in collaboration with the traditional leadership of Chief Chitina’s chiefdom in Mkushi, has commended First Quantum Minerals’ (FQM) commitment to sustainable mining practices following an eye-opening tour of the Kansanshi Mine in Solwezi, North-Western Province. TheContinue Reading
Miners Safely Rescued Following Zambia’s Nationwide Power Outage Miners trapped underground at two copper mines in Zambia were successfully rescued after a nationwide power outage disrupted operations, the Ministry of Energy reported on Monday. The blackout, which occurred on Sunday, was caused by a “power system disturbance,” according to stateContinue Reading
Successful Delivery of Cold Box Unit to Kansanshi Mine in Solwezi The Cold Box Unit has been successfully delivered to Kansanshi Mine in Solwezi, marking the completion of a challenging logistical operation that began on October 29, 2024, at the Katima Mulilo Border in Zambia’s Western Province. The journey spannedContinue Reading
Zambia and DRC Sign Milestone Agreement to Boost Trade and Infrastructure Zambia and the Democratic Republic of Congo (DRC) have sealed an agreement to construct a 145-kilometer road linking Kolwezi in the DRC to Lumwana in Zambia, through the Kambimba-Sakabinda border. This transformative project, finalized in Kolwezi, Lualaba Province, aimsContinue Reading
The Government of the Democratic Republic of Congo (DRC) raised $65.57 million through a local Treasury Bond auction held on November 19, 2024, as announced by Minister of Finance, Doudou Fwamba. The auction, which attracted six bidders, including banks and credit companies, saw a coverage rate of 65.57%, falling shortContinue Reading
Barrick Gold: Strengthening Growth with Strategic Investments and Tier-One Assets Barrick Gold Corporation (NYSE: GOLD) (TSX: ABX) continues to solidify its position as an industry leader through its Tier One-focused asset portfolio and value-driven strategy. By fostering productive partnerships with host countries and investing in sustainable growth, the company isContinue Reading
Addressing Zambia’s Energy Crisis: Powering Growth with Reliable Solutions Zambia’s ongoing energy crisis poses a major challenge to its economy, disrupting productivity in key sectors such as manufacturing, mining, agriculture, and commercial enterprises. Frequent power outages threaten operations, reduce output, and hinder economic progress. Recognizing the need for dependable powerContinue Reading
Congolese Gold Prices Rise Slightly Amid Global Market Sensitivities During the week of November 11 to 16, 2024, the price of gold in the Democratic Republic of Congo (DRC) experienced a modest increase of 0.07%, climbing to $88.72 per gram from $88.66 the previous week, according to a report byContinue Reading
Carter Center Report Exposes Weak Social Commitments by DRC Mining Companies A November 2024 report by the Carter Center, White Paper on the Specifications of Mining Companies in the DRC, has unveiled major deficiencies in the social and sustainable development commitments of mining companies operating in the Democratic Republic ofContinue Reading
