The Democratic Republic of Congo (DRC), rich in natural resources, is ready to exploit a new sector to increase its public revenue: gold ore. According to projections from the National Price Market Commission of the Ministry of Foreign Trade, the price of gold is expected to experience a significant increase on international markets this week.
Indeed, a gram of gold should trade at 62.19 USD, an increase of almost 0.88 USD compared to the previous week. This upward trend is encouraging for the DRC which is seeking to diversify its sources of income, in addition to copper and cobalt.
The DRC recently entered into a joint venture with the United Arab Emirates, which resulted in the export of more than three tonnes of raw artisanal gold in July 2023. These exports generated approximately $1.2 million in income for the Congolese state at the end of August.
Experts believe that the DRC has enormous potential in the gold sector. If all the necessary conditions are met, particularly in terms of transport and security for artisanal miners located in the most remote regions of the country, the DRC could export more than 60 tonnes of gold per year.
In addition to gold, other mining products exported by the DRC are also experiencing an upward trend on international markets. Copper is expected to trade at USD 8,377.70 per tonne, cobalt at USD 32,733.00 per tonne, zinc at USD 2,391.50 per tonne and tin at USD 25,582.00 per tonne.
This price increase is an opportunity for the DRC to take advantage of its natural resources and stimulate its economy. However, it is crucial that the country puts in place appropriate policies and measures to ensure responsible and sustainable exploitation of its mineral resources, while ensuring that local communities benefit equitably.
Mining can be an important source of economic growth for the DRC, but it is essential to ensure that this is done with respect for the environment and human rights. The DRC has a unique opportunity to transform its mineral wealth into sustainable development for the benefit of all its citizens.