Mining

DRC: Mining will support GDP growth of 5.7% in 2025 (budget)

DRC: Mining will support GDP growth of 5.7% in 2025 (budget)
Friday, 11 October 2024 16:57

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

 

On the same topic
Key Highlights Niger’s government has seized full control of SOMAÏR, its only active uranium mine, stripping Orano of its 63.4% stake. Officials...
Key Highlights• Ivory Coast ends TSDAR, a petroleum tax introduced in 2018 to reduce SIR’s debt.• Government to redirect two-thirds of revenue to...
Key Highlights: • Sri Lankan textile group, Star Garments, inaugurates its first factory in Africa with an anticipated 4,520 jobs by 2030.•...
Key Highlights: Nigeria plans to establish a real-time tracking system for all exported crude oil consignments to curb the losses Nigerian authorities...
Most Read
01

• Maritime sector faces renewed risks amid military tensions in the Middle East• Blockade fears at S...

Israel-Iran conflict raises new threats for global shipping and oil trade
02

(AfDB)-Egypt's first integrated solar and battery storage plant will deliver dispatchable clean ener...

AfDB, EBRD and BII support pioneering solar and battery storage project in Egypt with $476 million loan
03

Lion Group to explore and exploit gold, copper, and manganese in Algeria Malaysian firm plans...

Algeria, Lion Group sign mining and metals investment deal
04

Ucamwal plans three new funds in Côte d’Ivoire, including Halal and women-focused options Two...

United Capital to launch Islamic and women-focused funds in Côte d’Ivoire
05

• FAO and WFP list Sudan, Nigeria, DR Congo, and others as hunger hotspots through Oct. 2025• Armed ...

UN sounds alarm on rising food insecurity in eight African countries
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

Benjamin FLAUX
bf@agenceecofin.com 
Téls: +41 22 301 96 11 
Mob: +41 78 699 13 72
Média kit : Download

EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.