Fatshimetrie, June 25, 2024 – During the week of June 24 to June 29, 2024, the price of a ton of tin, a major export product of the Democratic Republic of Congo, recorded a significant increase on international markets. According to data provided by the National Commission of Mercuriales of the Ministry of Foreign Trade, the price of tin rose to US$32,188.75, an increase of 1.42% compared to the previous week when it stood at US$31,732.63.
In addition to tin, other commercial mining products also saw their prices change on international markets during the same period. Gold and tantalum both recorded a price increase. Gold is trading at US$75.09 per gram, up 0.07% from the previous week, while tantalum is trading at US$230 per kilogram, showing an increase of 0.70%.
On the other hand, copper, cobalt and zinc have seen a drop in price. Copper is quoted at US$9,587.10, cobalt at US$26,566.00 and zinc at US$2,768.90, registering decreases of -1.62%, -0.18% and -0.57% in tonnes respectively.
Among the mining commodities, only silver remained stable, remaining at US$0.96 on international markets.
Tantalum, also known as coltan, is a valuable resource distributed across several countries, including Australia, Brazil, China, Canada and several African countries, mainly the Democratic Republic of Congo (DRC) which holds between 70 and 80% of global production. In 2022, the DRC recorded a tantalum production of 1,802 tonnes worth US$79,152,135, marking an increase of 23.20% in quantity but a decrease of 39.74% in value compared to the previous year.
Coltan, made up of tantalum and niobium, is strategic for modern technologies. In Central Africa, the DRC mainly mines coltan in the provinces of South Kivu, North Kivu, Maniema and Tanganyika.
In conclusion, the evolution of mining product prices on international markets reflects fluctuations in the global market and the importance of natural resources such as tin, gold, tantalum and other metals in the global economy.
The Democratic Republic of Congo plays a leading role in tantalum production, confirming its position as a major player on the global mining scene.