The mining industry in the Democratic Republic of the Congo continues to play a crucial role on the international scene, particularly with the recent increase in cobalt prices on world markets. Cobalt, the country’s major export commodity, recorded an increase of 0.17% in the week of October 14-19, 2024, reaching USD 23,945 per tonne. This increase, although modest, reflects the dynamics of the market and the growing importance of cobalt in the global economy.
In addition to cobalt, other mining products such as zinc, tin, silver and tantalum have also experienced price increases during the same period. These fluctuations often reflect changes in supply and demand on international markets, as well as the dynamics specific to each resource.
According to data from the United States Geological Survey, cobalt production in the DRC has increased significantly in recent years, from 104,000 tonnes in 2018 to 170,000 tonnes in 2023. This growth is largely due to the commissioning of new mining projects, such as the Kisanfu project, which has helped strengthen the DRC’s position as one of the world’s leading cobalt producers.
Key players in the Congolese mining industry include companies such as Glencore, CMOC, Eurasian Resources Group (ERG) and Générale des Carrières et des Mines (GECAMINES), which play a vital role in exploiting the country’s mineral resources. Their expertise and investments help boost the mining sector and promote the DRC’s economic development.
Beyond figures and statistics, it is essential to highlight the importance of promoting responsible and sustainable mining in the DRC. Cobalt, in particular, is a strategic resource used in many technological sectors, such as the electric battery industry. It is therefore crucial to ensure that its extraction does not compromise the environment or local communities, and to promote ethical mining practices that respect human rights.
In conclusion, the rise in the prices of cobalt and other minerals in the DRC highlights the importance of the mining industry for the country’s economy and for the global economy. It is essential to continue supporting the development of the Congolese mining sector while ensuring that its expansion is carried out in a responsible and sustainable manner, in the interest of all stakeholders.