The International Monetary Fund (IMF) forecasts a significant increase in wealth creation in the Democratic Republic of Congo (DRC) by 2029, projecting it to reach 372,325.2 billion Congolese Francs (CDF). These projections are detailed in the IMF’s latest report, “Economic Outlook for Sub-Saharan Africa, October 2024.” The IMF has revisedContinue Reading
China State Construction Engineering, a state-owned enterprise, has committed to supporting the Kinshasa city expansion project. This pledge was made during a meeting between Governor Daniel Bumba and a company delegation on Tuesday, October 22, 2024, at the Hilton Hotel. The urbanization initiative aims to ease congestion in the CongoleseContinue Reading
The presence and movement of foreign individuals in mining areas were key topics during the eighteenth meeting of the Council of Ministers on Friday, October 18, 2024. In his address, President Félix-Antoine Tshisekedi expressed concerns about illegal foreign operations in the country’s mining regions. He emphasized that while the miningContinue Reading
The Zambian Government, through the Ministry of Mines and Minerals Development, along with the Zambia Chamber of Mines, has expressed its support for the Geological and Minerals Development Bill 2024. This announcement follows a high-level stakeholder engagement meeting held last week. The event, organized under the Public Private Dialogue ForumContinue Reading
The Energy Regulation Board (ERB) has confirmed that Zambia currently has ample petroleum reserves to address recent fuel shortages seen in certain regions of the country. The ERB identified logistical challenges in cross-border fuel transport as the main cause of these localized shortages. To alleviate the issue, the ERB hasContinue Reading
The Democratic Republic of Congo (DRC) is actively seeking new investors to diversify its mining sector, currently dominated by China, according to Mines Minister Kizito Pakabomba. The DRC, home to world-class deposits of key metals like copper and cobalt, is looking to attract a wider range of investors by streamliningContinue Reading
The government plans to transfer more than 40 of its reserved permits to a state-owned enterprise. Zambia is poised to significantly increase its copper production, with ambitions to more than quadruple output by the early 2030s, according to Bloomberg News. This ambitious plan requires substantial investment from companies to transitionContinue Reading
The Democratic Republic of Congo’s (DRC) state-owned mining company has submitted a bid to acquire Chemaf Resources’ local unit, after previously signaling opposition to a planned sale of the copper and cobalt miner to a Chinese investor. Chemaf, backed by Trafigura Group, spent nine months searching for a buyer beforeContinue Reading
Copper prices are expected to average around US$10,265 per tonne in the final quarter of 2024, according to estimates from Fastmarkets. Analysts at Reuters note that a positive economic outlook in both the United States and China will likely contribute to upward pressure on copper prices. Goldman Sachs has alsoContinue Reading
An investigation by La Guardia Magazine highlights the severe health consequences of intensive cobalt mining in Kolwezi, DRC, particularly on women’s reproductive health. From 2018 to 2023, cobalt production surged by 63%, increasing from 104,000 tons to 170,000 tons due to rising global demand for this essential mineral for energyContinue Reading
