The DR Congo government has released its draft Finance Act for 2025, proposing a budget increase of 21%, totaling 49,847 billion Congolese francs (over $18 billion). The mining sector is expected to play a vital role in this growth.
The DRC government expects a 5.7% economic growth in 2024, mainly driven by a 5.3% increase in the mining sector. This forecast comes from the draft Finance Law for 2025, which also outlines anticipated mining revenues for next year.
While specific factors supporting mining growth in 2025 have not been detailed, industrial mining production is likely to rise, particularly due to the expansion of Kamoa-Kakula, the country’s largest copper mine. Its annual production capacity has increased to 600,000 tonnes of concentrate from the 400,000 tonnes planned for this year.
Copper production is expected to keep rising, solidifying the DRC's position as the world's second-largest copper producer. After exporting 2.8 million tonnes in 2023, production is projected to grow by 4.5% in 2024. Additionally, zinc production will increase in 2025 with the Kipushi mine now fully operational, boasting an annual capacity of 278,000 tonnes of zinc concentrate.
The Kibali gold mine, Africa's largest, will continue to make a significant contribution to the DRC's economy, with an annual production capacity exceeding 700,000 ounces. Cobalt production is also expected to play a key role in the mining sector's growth. In 2023, the country exported over 150,000 tonnes of copper.
Also, the government has issued a mining permit for the Manono lithium deposit this year. This could attract new investments as production is set to begin.
The 2025 Finance Bill projects mining revenues at 14.82 trillion Congolese francs ($5 billion), up 41% from earlier estimates. This growth is largely due to customs and excise revenues, expected to rise by 107.7% after the removal of exemptions on certain mining product exports. Tax and non-tax revenues are expected to grow by 16.8% and 42.4%, respectively. The Congolese government expects the mining sector to contribute about 30% to public revenues, which are projected to reach 49.8 trillion Congolese francs ($16.9 billion) in 2025. Bankable, a Congolese media outlet, noted that since 2018 mining revenues in the DRC have been increasing due to a new mining code. According to the IMF, from 2018 to 2022, mining revenues averaged $5.5 billion per year compared to $4 billion annually from 2013 to 2017.
Emiliano Tossou
Telecel Ghana to boost network investment by 150% in 2026 Expansion targets capacity, reliabi...
Namibia and Russia agreed to expand cooperation across energy, mining, and agriculture. Both coun...
Togo parliament adopts WAEMU law against currency counterfeiting Bill defines offences including ...
Cameroon signs MoUs for $1.5 billion waste-to-energy projects Plans target waste treat...
Four years after Russia’s 2022 invasion of Ukraine, the fertilizer market is facing a new shock as m...
International tennis tournaments in Gaborone attracted over 7,000 visitors and supported more than 200 seasonal jobs Tourism accounts for about...
The European Investment Bank and Bank of Industry signed €135 million ($156.3 million) in loans targeting healthcare manufacturing and...
The World Bank allocates $75 million to fund the DR Congo’s second general population and housing census (RGPH2), part of a $100 million...
International Finance Corporation invests $45 million to power 2,235 telecom sites with solar energy across Ethiopia, Liberia, and Sierra...
Kumbi Saleh is regarded as one of the earliest major political and commercial capitals of West Africa. Located in present-day Mauritania, near the border...
Event highlights growing role of diaspora entrepreneurs across multiple sectors Networks support trade, investment and SME...