[INTRODUCTION]
In the economic landscape of the Democratic Republic of Congo (DRC), the export of raw gold from artisanal mining is experiencing remarkable growth thanks to the joint venture between the Congolese State and the United Arab Emirates, which has given birth at Primera Gold. With unprecedented export figures, the DRC seems to be reviving its gold potential and opening up new prospects for its economic development.
[THE SUCCESS OF PRIMERA GOLD]
Since the signing of the agreement in December 2022, Primera Gold DRC SA, the company created as part of the joint venture, has experienced real growth in the export of artisanal gold. In September 2023, exports reached a record volume of 475,348 kg. A performance which far exceeds the figures of previous years and demonstrates real potential in the Congolese gold sector.
[GROWTH AND POTENTIAL]
The meteoric rise in artisanal gold exports confirms the economic potential of the DRC in this area. While 2021 and 2022 saw modest exports, with only 57 kg of artisanal gold exported in total, Primera Gold is now demonstrating much higher potential. Those responsible for the joint venture even estimate that by eliminating fraud, it would be possible to export between 1,500 and 3,000 kg of gold per month, only from the province of South Kivu.
[PRIMERA GOLD’S OBJECTIVES]
Despite these promising results, Primera Gold DRC SA is aiming for even more ambitious objectives. The company plans to achieve a monthly export of one tonne of gold in the first year, 1.5 to 2 tonnes in the second year, and 2.5 to 3 tonnes in the third year. These figures demonstrate the company’s desire to capture around 36 tonnes of artisanal gold per year, which would constitute a significant step forward for the Congolese economy.
[THE BENEFITS FOR THE DRC]
The joint venture between the DRC and the United Arab Emirates offers numerous benefits for the country. In addition to stimulating exports and tax, parafiscal and customs revenues, it also contributes to the DRC’s economic development plan. The Democratic Republic of Congo holds 45% of the share capital of Primera Gold, which ensures direct participation of the Congolese state in this strategic company.
[CONCLUSION]
With Primera Gold and the spectacular growth in the export of artisanal gold, the Democratic Republic of Congo is opening up new economic prospects. This success demonstrates the country’s gold potential and its ability to position itself on the international scene. Thanks to this joint venture, the DRC can hope to benefit from significant economic benefits and support its development in the long term.