After copper and cobalt, the Democratic Republic of Congo plans to further exploit gold ore to increase the country’s public revenue. According to projections from the National Price Market Commission, the price of gold is expected to experience a significant increase in international markets this week.
A gram of gold is expected to trade at USD 62.19 this week, compared to USD 61.31 in the previous week. This increase of 0.88 USD per gram demonstrates the growing potential of this mineral.
In July 2023, the DRC has already exported more than three tonnes of raw gold from artisanal mining, thanks to a joint venture concluded with the United Arab Emirates. This generated revenues of $1.2 million for Congolese state services at the end of August of the same year.
Experts estimate that the DRC has the capacity to export more than 60 tonnes of gold per year if conditions are met, in particular by guaranteeing transport and security for artisanal miners in the most remote regions of the country.
The general trend in mining products exported by the DRC appears to be on the rise, according to the National Mercurial Commission. The copper price is expected to reach USD 8,377.70 per tonne this week, up from the previous week. Likewise, cobalt, considered a mineral for the energy transition, should see its price increase. Zinc and tin are also expected to see a slight increase.
This increase in mineral prices is good news for the Congolese economy, which depends heavily on mining. However, it is essential to put in place measures to ensure responsible and sustainable exploitation of these resources in order to avoid the environmental and human rights issues often linked to this activity.
In conclusion, the exploitation of gold ore represents considerable potential for the Democratic Republic of Congo to increase its public revenue. However, it is important to ensure that this exploitation is done in a responsible and sustainable manner, in order to benefit both the country’s economy and the preservation of the environment and human rights.