MINING (200)
Anhui Foreign Economic Construction Ltd Congo Corp (SACIM) has completed its first public sale of 288,000 carats of industrial diamonds in Antwerp, Belgium, the Consulate General of the Democratic Republic of Congo in the city said.
The sale was held from Feb. 16 to Feb. 20, 2026, with technical support from Belgian firm Samir Gems, active in the diamond and jewelry trade, and the Antwerp World Diamond Centre (AWDC). A total of 67 international companies took part, with leading buyers from China, India, the United States and Italy.
The transaction marks the return of Congolese industrial diamonds to the Antwerp market after more than a decade, the Consulate said. However, the interruption did not affect all exports. Official statistics show Belgium among the importers of Congolese industrial diamonds in 2024 and 2025, with 3.96 million and 1.7 million carats respectively.
Following the sale, Sacim, Samir Gems and the AWDC agreed on an annual schedule of public sales and a framework for technical and institutional support aimed at strengthening the long-term presence of Congolese diamonds in Antwerp.
The sale comes eight months after the liberalization of diamond trading by Congolese producers. In June 2025, then-Minister of Mines Kizito Pakabomba repealed a 2022 decree that regulated mineral sales through the Center for Expertise, Evaluation and Certification of Precious and Semi-Precious Mineral Substances (CEEC). The framework limited producers to a restricted list of buyers, a system that could influence prices. As a major player in the sector, Sacim was among the companies most affected.
The terms of the Antwerp sale were not disclosed. Official 2025 mining statistics nonetheless show an improvement in Sacim’s average sales price. In 2024, when the sector’s average price stood at $9.63 per carat, Sacim recorded $11.38. In 2025, the company maintained an average price of $11 while the sector average fell to $7.4 per carat. Natural diamond prices have been declining for several years.
According to official data, exports by Sacim, jointly owned by China’s Anhui Foreign Economic Construction Corporation (AFECC) and the Congolese state, were halved, falling from 2,887,100.25 carats in 2024 to 1,151,865.58 carats in 2025. The company accounted for 13.5% of national output, producing just over 1.1 million carats.
Ronsard Luabeya
Tshopo province, in north-central Democratic Republic of Congo, has recorded its first official exports of artisanal gold, according to 2025 mining statistics released on Feb. 3.
The data, described as “provisional and partial,” show that Tshopo exported 125.26 kilograms of gold over five months. The figures may reflect the launch of DRC Gold Trading’s operations in the province. The state-owned company, which channels and exports Congolese artisanal gold, now lists Kisangani, the provincial capital, among its operational locations, though it has not disclosed when the branch opened.
Governor Paulin Lendongolia Lebabonga announced plans for the office as early as June 2025, saying it would help tighten oversight of gold trading, curb fraud and secure revenue for the province. Provincial authorities said transactions should go through licensed trading houses and be integrated into the formal banking system.
Mining Data
The move comes amid wider regulatory problems in the province’s mining sector. In January 2025, the provincial government suspended mining activities to compel companies to register with the authorities. Of 142 companies identified as operating in the province, the provincial mines minister said only one was compliant at the time, with the others accused of operating outside legal requirements.
Actualité.cd reported in February 2025 that civil society groups across several territories had flagged the presence of foreign nationals operating illegally and partnering with local cooperatives.
According to the Ministry of Mines, Tshopo has four active artisanal gold cooperatives, two of which are officially listed as “in production.” Despite being listed as active, the province had not appeared in national mining statistics before 2025.
Some buying houses reported monthly volumes of around 10 grams, figures considered too low to cover their operating costs. Provincial authorities suspect that part of the gold output is bypassing formal channels and being smuggled to Uganda, a country frequently cited as a transit hub in regional gold trafficking networks.
Timothée Manoke
Two years after tensions that led to a settlement agreement with the Democratic Republic of Congo's private-sector subcontracting regulator, Kibali Gold Mine is once again under scrutiny. In a decision signed on Feb. 17, 2026, Director General Miguel Kashal of the Autorité de régulation de la sous-traitance dans le secteur privé (ARSP) ordered the cancellation of several subcontracting agreements between Kibali, the DRC's top gold producer, and three service providers: KMS SAU, Boart Longyear SAU and TAI Services SAS. Kibali operates the Kibali gold mine in Haut-Uélé province.
The ARSP contends that KMS SAU and Boart Longyear SAU are not majority Congolese-owned companies and therefore do not meet the eligibility requirements set out in Article 6 of the Feb. 8, 2017 subcontracting law. Little information is publicly available on KMS, but Boart Longyear is an Australian mining group specializing in exploration and production drilling, as well as geotechnical services and drilling equipment and technologies.
According to the regulator, Boart Longyear, which operates in Australia, Africa and the Americas, was granted a waiver in September 2024. However, the ARSP said the conditions attached to that waiver, notably those related to technology transfer, were not complied with.
The situation regarding TAI Services SAS is different. The ARSP argues that the contract for the purchasing center positioned the company as a "commercial intermediary" between Kibali and Congolese contractors, a situation that sparked tensions among local communities in Watsa territory, where the mine is located. The decision states that such an arrangement, including the collection of a percentage-based commission on contracts awarded to local subcontractors, "runs counter to local content requirements." The regulator added that the contractual relationship must be direct between the principal company and the eligible subcontractor.
Earlier dispute
The Feb. 17 decision follows an earlier episode in January 2024, when the ARSP threatened to shut the mine and announced legal proceedings against a subcontracting company, TCFF, which it accused of capturing the bulk of contracts and collecting commissions. A settlement agreement between the ARSP and Kibali was ultimately signed after those discussions.
At the time, the regulator said more than 390 contracts had been opened to eligible subcontractors and highlighted a restructuring of the contractual framework. Mine operator Barrick Mining said in a statement published on March 1, 2024, that it was working "with the ARSP on a series of local content initiatives." That collaboration did not result in full compliance with the law, as the latest decision indicates.
The violations cited in the latest ruling are nonetheless less serious than those raised in 2024. At that time, Kibali was accused of setting up a front company to carry out subcontracting work linked to its own production activities. "We conclude unequivocally that TCFF is none other than Kibali Gold in disguise," Kashal said then. The 2026 decision does not allege a systemic scheme to capture subcontracting contracts but instead cites a limited number of instances of non-compliance.
A strategic mine
The Feb. 17 decision is based on findings from an inspection mission conducted in November 2025. During that visit, Kibali Gold's director general committed to implementing the recommendations. "We have an inspection mission currently at Kibali (...). Where improvements are needed, we will work with the ARSP and the provincial authorities to address them, and where progress has already been made, we will look at how to build on it," Cyrille Mutombo said.
To prevent any abrupt disruption to operations, the ARSP has provided for a transition period to allow new tenders to be launched in compliance with the law.
As the only industrial enterprise in Haut-Uélé province, Kibali is a key driver of economic activity for both the province and the country. In July 2025, Barrick said in a press release that $3.1 billion had been paid to local contractors and partners since 2009. The group said it supports more than 700 Congolese companies and noted that Kibali's tenders are published jointly with the ARSP. Barrick had already stated in March 2024 that 95% of the mine's more than 6,500 employees were Congolese nationals.
Kibali is also a key earnings contributor for its shareholders: Barrick Mining holds 45%, AngloGold Ashanti 45% and state-owned Sokimo 10%. The mine posted revenue of $2.3 billion in 2025, up 40% from 2024. That growth lifted Kibali's contribution to Barrick's results by 67%, from $316 million in 2024 to $527 million in 2025, despite a 13% increase in costs.
Pierre Mukoko & Timothée Manoke
Belgium, the Democratic Republic of Congo and U.S. company KoBold Metals are at odds over access to colonial-era geological records held at the Royal Museum for Central Africa (AfricaMuseum) in Tervuren. Belgian authorities are refusing to allow KoBold to digitize the archival collection under the terms agreed in Kinshasa, according to several Belgian media reports. The archives are considered strategically significant for mineral exploration.
A deal signed between the DRC and KoBold in Kinshasa on July 17, 2025, explicitly aims to provide free public access to historical geoscientific data via the National Geological Service of Congo (SGNC). The agreement also stipulated that KoBold would deploy a team to the DRC's geological archives held at the Royal Museum for Central Africa to begin digitizing documents before July 31, 2025.
Seven months later, that digitization has yet to begin. Belgian authorities have blocked KoBold's team from accessing the archives, arguing that federal public archives cannot be entrusted to a foreign private company that has no direct contractual relationship with the Belgian state. "We cannot delegate full responsibility for managing our archives to a private company," outside the Belgian and European legal framework, AfricaMuseum Director Bart Ouvry said.
Belgium has also pointed to an existing digitization program already underway, funded by the European Union. The project provides for gradual digitization of the archives over several years, with copies to be transferred in stages to Congolese authorities. Museum officials said the program would span four to five years, with completion expected around 2031. The data would then be made accessible under a framework agreed between the relevant institutions, including the SGNC.
Control of geological data
The Tervuren archives are described as a vast collection of maps, reports and technical surveys covering nearly 500 linear meters of documents. For KoBold, which specializes in artificial intelligence-assisted exploration, the historical data represents essential raw material for the "large-scale mineral exploration" program outlined in its agreement with the DRC. Rapid access to the historical records would reduce geological risk and help guide investment decisions.
The agreement ties this effort to a broader strategy of American exploration and investment in the DRC. It cites a desire to "attract more investment from the American private sector, particularly in the critical minerals sector," and refers to "secure supply chains to the United States" in the context of regional initiatives such as the Lobito Corridor. That approach was reinforced by a strategic partnership concluded between Kinshasa and Washington last December.
Belgium has officially cited the public status of the archives and the absence of a direct contractual framework with the Belgian state. By promoting the existing European program and declining to allow KoBold direct access, Belgium has effectively retained control over the pace and conditions under which data described as strategically significant is made available.
In a context of intensifying international competition over critical minerals, the dispute over the colonial archives goes beyond a straightforward administrative matter. It underscores a broader shift: control of geological data has become central to the power dynamics surrounding the DRC's critical resources.
Pierre Mukoko & Boaz Kabeya
Kamoa-Kakula copper mine in the Democratic Republic of Congo generated revenue of $3.28 billion in 2025, up 5% from $3.11 billion in 2024, according to figures published by operator Ivanhoe Mines on Feb. 18, 2026.
The revenue increase came despite lower production and sales following a seismic event in May 2025. Kamoa-Kakula sold 351,674 tonnes of copper in 2025, down 11.4% from 396,972 tonnes in 2024. Production declined by a similar percentage, falling to 388,841 tonnes from 437,061 tonnes.
Higher copper prices helped offset the decline. The average realized price rose to $4.40 per pound, or roughly $9,700 per tonne, in 2025, compared with $4.09 per pound the previous year, an increase of 7.6%.
On the operational side, Kamoa-Kakula reported EBITDA of $1.45 billion in 2025, representing a margin of 44%, down from $1.81 billion and a 58% margin in 2024.
Profit down
Rising costs weighed on profitability. The cost of sales increased to $2.82 per pound in 2025 from $1.71 per pound in 2024, equivalent to roughly $6,220 per tonne versus $3,770 per tonne. That increase of more than 65% squeezed margins by narrowing the spread between the selling price and production costs.
Net profit after tax fell 56.6% to $439.7 million from $776.9 million, even as the tax charge declined to $317.7 million in 2025 from $345.5 million in 2024.
For 2026, Kamoa-Kakula has set production guidance of up to 420,000 tonnes, unchanged from 2025. Ivanhoe expects sales to rise by around 30,000 tonnes as the mine draws down unsold inventory. Revenue could increase further, with the company anticipating “copper prices close to record levels.”
Ivanhoe Mines and its Chinese partner Zijin Mining each hold a 39.6% stake in Kamoa-Kakula, while the Congolese state owns 20% and Crystal River holds 0.8% through the Kamoa Copper joint venture.
Pierre Mukoko
Gécamines and Glencore have concluded two agreements within days of each other, significantly expanding the state-owned company's ability to sell copper and cobalt independently.
Both agreements concern Kamoto Copper Company (KCC), a mine 70% owned by the Anglo-Swiss commodities group and 30% by Gécamines.
The first agreement was signed on the sidelines of Mining Indaba, held Feb. 9-12 in Cape Town, and grants Gécamines the right to market its share of KCC's production in proportion to its stake. The second deal, announced Feb. 18, aims to increase output and extend the mine's operating life.
According to Glencore, the second agreement is expected to be finalized in the coming months after lease contracts are registered with the national mining cadastre. It will grant KCC access to additional land. That access is needed to “fully unlock KCC's potential by improving the efficiency of the mine, processing facilities and other key infrastructure,” said Mark Davis, Glencore's chief operating officer for Copper Africa.
The additional land should help KCC reach a long-term copper production target of around 300,000 tonnes per year, up from less than 200,000 tonnes currently, and extend the mine's life into the mid-2040s, Davis said. That trajectory would provide Gécamines with about 90,000 tonnes of copper per year, along with significant cobalt volumes.
Glencore said it is prioritizing copper production as it already has sufficient volumes to meet its 2026 and 2027 export quotas. The company does not expect that position to last beyond two years. “For 2028 and beyond, we assume similar price and payment levels to those of the fourth quarter of 2025, as well as the ability to market substantially all of our cobalt production,” the company said in its 2025 resources and reserves report. At KCC, cobalt output typically exceeds 30,000 tonnes per year and is expected to rise as the mine ramps up.
The two agreements deepen Gécamines’s push into mineral trading, a segment where it had until recently maintained only a limited presence. Prior to the Glencore deals, the state company concluded other agreements this year granting it the right to market its share of output from several mines, including Tenke Fungurume Mining (TFM), which is 80% controlled by China’s CMOC and 20% owned by Gécamines. TFM produces more than 400,000 tonnes of copper and around 25,000 tonnes of cobalt annually.
Gécamines is also in advanced talks with Ivanhoe Mines over a deal that would allow it to market up to 50% of output from the Kipushi zinc mine, despite holding only a 38% stake, compared with 62% for the Canadian company. Production at Kipushi is expected to reach between 240,000 and 290,000 tonnes of zinc concentrate in 2026, strengthening its position in the global market.
Pierre Mukoko
A Congolese human rights organization has detailed the sanctions imposed on Chinese company Congo Dongfang Mining (CDM) over a pollution incident that affected Lubumbashi, capital of Haut-Katanga province, on Nov. 4, 2025. The Institut de recherche en droits humains (IRDH) disclosed the penalties in a press release dated Feb. 16, 2026, citing a letter from the mines minister dated Jan. 17, 2026.
According to the civil society group, CDM was fined $6.63 million and ordered to pay $6 million in collective compensation. The IRDH described the fine as low but acknowledged that it is consistent with the statutory penalty scale for the violations identified. The Institute said the collective compensation was “grossly inadequate given the scale of the damage.”
On Nov. 4, 2025, large volumes of water from CDM’s retention basin spilled into several areas around its facilities, including the Moïse market, which supplies much of northern Lubumbashi. A document published by the IRDH in January estimated that about 2.5 million cubic meters of acid leachate were released into the environment. Analyses cited in the same document found heavy metal concentrations exceeding international standards by several thousand times, with immediate impacts on local communities. The document recorded “504 documented health cases (skin, digestive and respiratory conditions), 258 damaged agricultural fields, 42 contaminated wells and 29 livestock losses.”
More Than $100 Million Demanded
The total amount sought by affected communities stands at $106.84 million, according to the IRDH. Of that sum, $100 million is claimed over exposure to endocrine disruptors, which have irreversible effects on the hormonal system and may pose serious risks across generations.
“This fund is intended to finance a medical reference center specializing in the diagnosis, treatment and long-term monitoring of mining-related illnesses. The center will also include research and epidemiological surveillance functions,” the IRDH said.
Following the incident, the mines minister suspended CDM’s operations at its Lubumbashi site for an initial period of three months. In a statement published Feb. 13, 2026, the Ministry of Mines said the resumption of activities at the CDM/Joli-Site facility is conditional on several measures, including the effective fulfillment of social obligations toward neighboring communities and the strengthening of monitoring, prevention and early-warning systems to prevent a recurrence.
The IRDH nonetheless said CDM does not appear to be fully meeting its compensation obligations. According to the Institute, the company has limited itself to donations or projects already included in its operating agreement, without clearly separating those contractual commitments from compensation measures linked to the environmental incident.
Timothée Manoke
The $50 million promised by President Félix Tshisekedi in December 2024 to relaunch Société Minière de Bakwanga (MIBA) is available. André Kabanda, the company’s director general, said on Feb. 14, 2026, that disbursement is now contingent on shareholders finalizing discussions on the company’s recapitalization.
MIBA is owned 80% by the Congolese state and 20% by ASA Resource. To maintain that ownership structure following the $50 million injection, the private partner would need to contribute $12.5 million in line with its stake. Ongoing talks are focused on agreeing those terms, among other issues.
A general shareholders’ meeting was held several weeks ago and is expected to be followed by a board meeting this week, Kabanda said. The state’s contribution has already been approved, he added.
A $70 Million Baseline Recovery Plan
The funds are intended to finance a $70 million baseline recovery plan approved by the Council of Ministers in August 2025. The plan targets production of nearly 2.5 million carats in 2026. It is structured around five priorities: certification of mineral reserves, securing title to mining concessions, productive investments, management of personnel costs, and the establishment of a monitoring and evaluation framework.
The recovery plan is based on a broader blueprint developed by the Steering Committee for the Reform of State Portfolio Companies, Copirep, valued at more than $400 million.
On April 8, 2025, MIBA’s director general presented four South African companies, Bond Equipment, Mining Services, Athur Mining and Consulmet, which he said had expressed interest in helping restart operations. The companies were expected to submit bids to supply modern equipment following site visits to MIBA’s infrastructure and mining areas. No update on the process has been provided since then.
Ronsard Luabeya
The 64 artisanal mining zones announced in November 2025 by Mines Minister Louis Watum Kabamba in response to a tragedy at the Kalando site in Lualaba province are not yet operational. Although the identification process has begun, implementation is expected to be phased in over time.
The Mining Cadastre, which manages the country’s mining titles, said it has started identifying the zones in coordination with the National Geological Service of Congo (SGNC). Its director general, Popol Mabolia, said about ten zones have been identified in an initial phase. These still need to be developed before being allocated to cooperatives and artisanal miners.
“It’s a process that is underway, and we will get there. But we cannot have 64 zones ready overnight,” Mabolia told reporters at the Mining Indaba conference, which ended on Feb. 12, 2026, in Cape Town. “We have already identified those that can be fast-tracked, so miners can be redirected from one site to another.”
Until the zones become operational, the shortage of designated areas continues to fuel tensions in mining regions. Several industrial concessions remain vulnerable to incursions by artisanal miners, even as the ministry’s reform aims to ease pressure on industrial sites and channel diggers toward legally regulated areas.
Some companies are moving ahead with their own formalization efforts. Eurasian Resources Group (ERG) has signed a memorandum of understanding with the General Cobalt Enterprise (EGC) to organize artisanal mining in Lualaba. According to the Federation of Congolese Enterprises, ERG has recorded nearly $3 billion in losses due to disruptions at its sites.
Ronsard Luabeya
Power requirements for Asia Minerals Limited’s manganese project in Luozi, Kongo Central province, are projected to exceed 300 megawatts (MW), company officials said on November 26 at the Makutano Forum.
Fely Samuna, managing director of Kerith Resources, the Congolese partner of the Japanese multinational, said the total demand would comprise around 120 MW for mining operations and nearly 200 MW for in-country processing, in line with the government’s push to boost value addition and local employment.
Demand is not expected before just over three years. “Exploration will take three years, and mine development will start after that,” Samuna said, asking whether the country would be able to meet the project’s power needs.
Aimé Molendo Sakombi, Minister of Hydraulic Resources and Electricity, said the project area includes hydroelectric sites capable of supplying the operations, notably the Mpioka site on the Inkisi River. Jean-Pierre Mukadi Kalombo, coordinator of the Energy Ministry’s Project Coordination and Management Unit, said Mpioka has an estimated capacity of about 6,000 MW.
He said the site could help supply Kinshasa, including as the city expands, as well as meet rising demand from the mining sector. Feasibility studies are scheduled to begin next year to provide the government with the technical data required for the next phase of the project.
Samuna also questioned the competitiveness of electricity tariffs in the Democratic Republic of Congo. He noted that the group’s Malaysian smelter, Pertama Ferroalloys, commissioned in 2016, operates under a power purchase agreement at roughly $0.04 per kilowatt-hour. He asked whether lower tariffs could be offered in the DRC to ensure the competitiveness of local operations and encourage on-site processing.
Bob Mabiala Mvumbi, managing director of the Agency for the Development and Promotion of the Grand Inga Project (ADPI), said discussions on a future PPA were possible. “You will set a price and we will discuss it,” he said, adding that ADPI is working to secure firm demand for Inga 3, whose installed capacity is projected at between 3,000 MW and 11,000 MW.
However, the economics remain challenging. The National Electricity Company (SNEL) says the average tariff of $0.17 per kilowatt-hour is below cost and is seeking an increase. By comparison, mini-grid operators charge between $0.25 and $0.70 per kilowatt-hour.
Timothée Manoke
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The Manono lithium project will require nearly $1 billion in investment, according to Alpha Monga Mwidia, chief executive of state-owned Congolaise d'exploitation minière (Cominière), in a Reuters interview at the Mining Indaba conference in Cape Town, South Africa, which concluded on February 12, 2026.
Cominière partnered with Chinese group Zijin Mining to form the Manono Lithium joint venture, which is developing the northeastern section of the Manono lithium deposit in Tanganyika province, southeastern Democratic Republic of Congo. The project holds an estimated 6.47 million tonnes of lithium carbonate equivalent, with an average grade of 1.5% lithium oxide, making it one of the world's largest lithium deposits.
Zijin Mining is financing the entire investment, according to Alpha Monga Mwidia. However, updated figures show the Chinese group now holds 54.9% of the project, down from its initial 61% stake. The reasons for this ownership change remain unexplained.
Production timeline revised
While the investment breakdown has not been disclosed, Zijin describes the project as encompassing mine construction, a concentration unit, a conversion plant with calcination kiln, and logistics facilities. The operation is designed to extract and process 5 million tonnes of ore annually and convert 500,000 tonnes of spodumene concentrate into 95,170 tonnes of crude lithium sulfate per year.
"The mining, processing and conversion projects, as well as the logistics facilities and river diversion works are progressing on schedule, with commissioning planned for June 30, 2026," Zijin stated, noting that the accommodation camp and Phase I solar plant are already operational. This represents a three-month delay from the company's early 2025 projection of first-quarter production, though no explanation was provided.
The Mpiana-Mwanga hydroelectric plant rehabilitation was completed in 2024 by Katamba Mining (70% owned by Zijin and 30% by Cominière), boosting capacity to 40 MW. A planned expansion will add another 108 MW.
Export logistics
Lithium sulfate will be transported along the 440-kilometer Manono-Kalemie road to the industrial port of Kalemie, then shipped via Kigoma to Dar es Salaam, Tanzania.
Road construction began in October 2024 under a public-private partnership with Chinese company Phaepon Construction and is scheduled for completion in five years. The first phase will create a passable dirt road before paving begins.
This phase "is almost complete and we hope to have lithium production by June 2026," Tanganyika Governor Christian Kitungwa Muteba said in a promotional video for Expobeton's 11th edition, a trade fair focused on urban development and special economic zones, scheduled for May 27-30, 2026, in Kalemie.
Market headwinds
The Kalemie industrial port is also under construction through a partnership with Jintai Mining PTE Ltd and Tembo Majengo Company SARL, with the first phase (requiring an estimated $70 million) expected to be operational by late 2026.
Given its investment, Zijin will market all production and share revenues proportionally with its stake in the joint venture after deducting production costs, according to the Cominière chief executive.
The project appears undeterred by the oversupplied global lithium market, driven largely by Chinese production, which has depressed prices significantly. Spodumene prices have plummeted more than 80% from their 2022 peak, dropping from over $80,000 per tonne to around $10,000 in 2025.
Pierre Mukoko
DRC Gold Trading S.A., a state-owned company specializing in the purchase, trading and export of artisanal gold, announced on Feb. 10, 2026 that it has opened a branch in Lubumbashi, marking its entry into Haut-Katanga province.
The move aims to bring artisanal gold production from the province into official channels. A few days after opening the Lubumbashi office, the company collected and exported its first batch of more than 20 kilograms of artisanal gold from Haut-Katanga through formal traceability procedures. At the 2025 average gold price, the shipment is worth more than $2 million.
Haut-Katanga, long dominated by copper and cobalt production, has also seen artisanal gold mining activity in the town of Kilolo, in Kipushi territory. However, this output has not been reflected in official export statistics, with most production reportedly leaving the country through illicit channels.
A 2024 United Nations report described artisanal gold mining in the area as extensive, pointing to significant production circulating outside formal supply chains. The opening of a purchasing office is intended to integrate this output into a regulated traceability and export framework.
In the same statement, DRC Gold Trading said it had also opened a second purchasing office in Haut-Uele province, in the mining town of Durba, after initially establishing operations there in 2025. During the first half of 2025, the company exported 12,511 kilograms of gold from that branch.
The Durba office has strong supply potential. According to a Dec. 8, 2025 report by the International Peace Information Service (IPIS), researchers identified nearly 5,500 artisanal miners operating across 18 gold sites around Durba.
The expansion into Haut-Katanga and Haut-Uele forms part of the company’s plan to operate ten sites nationwide, targeting annual volumes of 15 to 18 tonnes of artisanal gold and more than $2.6 billion in export revenue. Two additional branches are planned for 2026 in Kinshasa and Mbuji-Mayi.
According to the World Gold Council, the average annual gold price rose 44% to $110,280 per kilogram in 2025, driven by strong demand and a geopolitical and financial environment supportive of the precious metal. The upward trend is expected to continue in 2026. Gold traded above $160,000 per kilogram in January, while Deutsche Bank, UBS and JP Morgan project prices could exceed $190,000 per kilogram by year-end.
Timothée Manoke
Eurasian Resources Group (ERG) has signed a memorandum of understanding with the state-owned cobalt company Entreprise générale du cobalt (EGC) to formalise and better manage artisanal mining in Lualaba province, where its concessions have repeatedly been entered by informal miners.
The agreement was signed on February 10, 2026, on the sidelines of the Mining Indaba, a major African industry event held in Cape Town. Mines Minister Louis Watum Kabamba presided over the ceremony.
The deal launches a pilot project aimed at structuring artisanal mining within a defined framework. It provides for the creation of a regulated artisanal mining zone on an ERG concession, measures to improve safety and working conditions, and the introduction of traceability systems aligned with OECD due diligence standards. The initiative also seeks to ease tensions between industrial operators and artisanal miners, safeguard the rights and investments of both parties, and bring artisanal mining into a recognised legal framework benefiting local communities.
ERG said the initiative is not intended to feed its industrial output and that none of its production will come from artisanal sources. Instead, the company presented the move as support for formalisation efforts amid mounting pressure from informal mining on its concessions.
The agreement comes as industry players have warned about the scale of incursions onto mining sites. According to the Federation of Businesses of the Congo(FEC), such intrusions have caused losses estimated at nearly $3 billion for ERG. Since 2024, site invasions have been reported on concessions operated by several of the group’s subsidiaries, including Congolaise des mines et de développement (COMIDE) and Boss Mining. In a 2025 statement, Boss Mining said more than 200 trucks were entering its sites daily, carrying copper and cobalt shipments valued at around $1.8 million.
The Ministry of Mines described the agreement as a joint effort to balance the economic, social and environmental challenges facing the Congolese mining sector.
Under pressure from growing artisanal activity within industrial concessions, the mines minister announced in November 2025 the designation of 64 artisanal mining zones (ZEA). He said the decrees establishing the zones had been signed and that implementation would proceed in coordination with EGC. Since then, however, little detail has been provided on progress.
Ronsard Luabeya
The Butembo copper project, located in the insecure eastern Democratic Republic of Congo, has been acquired by African Discovery Group (AFDG). The U.S.-traded company said it signed a definitive share purchase agreement with Grabin Mining SAS, which holds the permit covering the project.
AFDG said the deal was structured as a reverse takeover, a mechanism that allows a listed company to bring an unlisted asset onto the market, typically by issuing shares to the asset’s owners. The company said shares were issued to the permit holders and that the mining interest is now owned by the U.S.-domiciled entity.
In effect, the Butembo project now sits within the structure of the U.S.-listed issuer, with the former asset holders becoming shareholders. The transaction remains subject to regulatory approval, including in the DRC.
A company listed on a lightly regulated market
AFDG trades on the U.S. OTC market, a less regulated segment than major exchanges such as the NYSE or Nasdaq. Public filings show the company has shifted strategy in the past before pivoting toward metals.
The group also announced a name change and now operates as Copper Intelligence. It describes itself as the first independent DRC-focused company listed in the United States and positions itself as a vehicle dedicated to acquiring and exploring copper assets in the country.
The new management team is led by Andrew Groves, presented as the founder of several African mining companies, including Camec, African Platinum and Central African Gold, all reportedly sold. The team also includes Aldo Cesano, who cites 40 years of experience in mining and logistics development in the DRC, Zimbabwe and southern Africa.
An asset described as prospective
Copper Intelligence describes Butembo as a near-surface exploration target with a low strip ratio. The project lies about 50 kilometers from the Ugandan border, near the Kilembe mine, which has verified reserves of around 4 million tonnes. The company highlights high-grade samples of up to 18% copper and says it has access to rail infrastructure.
However, there is no evidence of a mineral resource estimate compliant with international reporting standards, nor of a declared mineral reserve. The statement does not outline a detailed technical program, such as drilling plans, timelines or budget, required to assess the project at an industrial scale.
Bringing Butembo under a U.S.-listed structure could improve visibility and potentially ease access to funding for exploration. It also increases exposure to reporting requirements and investor scrutiny, even if OTC standards are lighter than those of major exchanges.
“We are delighted to hold this status as a dedicated US company operating in Africa, aggregating assets in the DRC's highest grade copper deposits in the world,” Copper Intelligence President Andrew Groves said.
The key challenge will now be technical: converting a prospective asset into a defined and financeable project supported by independent data capable of underpinning an economic assessment.
Pierre Mukoko & Ronsard Luabeya