The price of copper, one of the main mining products exported from the Democratic Republic of Congo (DRC), experienced a significant increase of 4.3% in mid-July 2023 on international markets. This increase is explained by an acceleration in demand, particularly in China and India for gold.
According to the Central Bank of Congo (BCC), a ton of copper traded at USD 8,629.5 during the period analyzed. This increase reflects a strong demand for copper, which is considered one of the minerals of the energy transition.
Moreover, the price of an ounce of gold also increased by 2%, reaching 1,957.0 USD. India and China are the main drivers of this growing demand, confirming their key role in the global metals market.
As for cobalt, another important mineral for the DRC, its price remained stable compared to the previous week, at USD 28,830.0 per ton. Cobalt is also an essential element in the energy transition, used in the manufacture of rechargeable batteries used in electric cars and electronic devices.
This rise in copper and gold prices is good news for the Congolese economy, which is heavily dependent on the export of these minerals. This should also encourage investment in the mining sector and contribute to the economic growth of the country.
It is important to point out that the DRC has significant reserves of copper, gold and cobalt, which gives it a competitive advantage in the world market. However, it is also crucial to put in place policies for the responsible management of these resources in order to ensure sustainable and equitable exploitation.
In conclusion, the rise in copper and gold prices on international markets is excellent news for the Congolese economy. This increase in demand, particularly in China and India, strengthens the position of the DRC as the main exporter of these minerals and opens up new prospects for economic growth. It is essential to put in place responsible management practices to guarantee the sustainable and equitable exploitation of these precious resources