Why is DRC on the mining business map?
The Democratic Republic of the Congo is the second largest country in Africa; it is known to be the world's largest producer of cobalt, which is used in the production of batteries for cell phones and other consumer electronics.
Contribution facts of the extractive industry to the economy
Source: Figures are from the 2015 DRC EITI Report. Identified reserves were produced by the U.S. Geological Survey, Mineral Commodity Summaries, January 2018.
Contribution facts of the extractive industry to the economy
- 98 % to exports
- 18 % to GDP
- 18 % to government revenue
- 11% to employment
Source: Figures are from the 2015 DRC EITI Report. Identified reserves were produced by the U.S. Geological Survey, Mineral Commodity Summaries, January 2018.
Did you know?
Fact 1: The DRC is among the most resource-rich countries on the planet, with an abundance of gold, tantalum, tungsten, and tin – all minerals used in electronics such as cell phones and laptops.
Fact 2: Since January 2021, the country has exported an average per week, which varies between 22,000 and 34,000 tonnes for copper in cathode form, between 14,000 and 28,000 tonnes of copper in the form of concentrates and between 4,500 and 7,400 tonnes of cobalt in form of hydroxides.
Fact 3: The gradual resumption of mining activity in the DRC with the production launch from the Kamoa-Kakula mine should boost the economic growth to rebound to 4.5% in 2022.
Fact 4: DRC’s government launched reforms with the aim to strengthen governance in the management of natural resources and improving business climate.
Sources:
https://www.banquemondiale.org/fr/country/drc/overview
https://www.doingbusiness.org/en/reforms/overview/economy/congo-dem-rep
Central Intelligence Agency. "The World Factbook: Democratic Republic of the Congo." Central Intelligence Agency. Web Accessed July 14, 2014
Fact 2: Since January 2021, the country has exported an average per week, which varies between 22,000 and 34,000 tonnes for copper in cathode form, between 14,000 and 28,000 tonnes of copper in the form of concentrates and between 4,500 and 7,400 tonnes of cobalt in form of hydroxides.
Fact 3: The gradual resumption of mining activity in the DRC with the production launch from the Kamoa-Kakula mine should boost the economic growth to rebound to 4.5% in 2022.
Fact 4: DRC’s government launched reforms with the aim to strengthen governance in the management of natural resources and improving business climate.
- Registration of Property: The Democratic Republic of Congo made property registration easier by reducing the fees for securing property titles.
- Trading activities across Borders: DRC reduced the time needed to export and import by implementing the national trade single window system.
- Enforcing Contracts: The Democratic Republic of Congo adopted a law that regulates all aspects of mediation as an alternative dispute resolution mechanism to enforce contracts.
Sources:
https://www.banquemondiale.org/fr/country/drc/overview
https://www.doingbusiness.org/en/reforms/overview/economy/congo-dem-rep
Central Intelligence Agency. "The World Factbook: Democratic Republic of the Congo." Central Intelligence Agency. Web Accessed July 14, 2014