The price of an ounce of gold fell by 2.14% weekly to settle at USD 2,620.06, according to an economic situation note published on December 20 by the Central Bank of Congo (BCC). However, compared to the end of December 2023, the price of gold increased by 26.55%, reflecting the continued valuation of this precious metal on the international market.
In the first quarter of 2024, the DRC recorded a total gold production of 6,462.61 kilograms, according to data from the Ministry of Mines. Industrial production dominated with 6,445.61 kilograms, accounting for 99.74 percent of the total. Kibali Gold, a major player in the sector, provided most of this production, while the MCCR company contributed marginally with 17 kilograms.
Over the same period, total gold exports reached 6,780.75 kilograms, generating revenue of USD 324,046,974. These exports are distributed between industrial production, which exported 6,190.08 kilograms for a value of 286,073,312 USD, and artisanal production, with 590.67 kilograms for 37,973,662 USD.
Despite its significant gold resources, the DRC remains faced with structural challenges. The sector is undermined by fraudulent practices, smuggling and the control of certain mining sites by armed groups. According to a report published in August 2022 by the Coalition of civil society organizations of Haut-Uélé and Ituri for the governance of natural resources, more than 75% of mining sites in the province of Ituri are under the control of armed groups. The latter exploit gold, depriving the state of millions of dollars in revenue.
