During the last week of November 2024, several mining products exported from the Democratic Republic of Congo (DRC) saw their prices plummet on international markets.
Among them, gold recorded a notable decline of 2.72%, trading at USD 83.78 per gram, compared to USD 86.12 in the previous week.
This information was confirmed by the market price of the Ministry of Foreign Trade.
This downward trend also affects other precious metals like zinc, tin, copper and silver. They all experienced respective declines of 0.64%, 7.01%, 2.85% and 1.98% during the same period.
On the other hand, two other mining products, cobalt and tantalum, showed marginal increases. Cobalt is trading at $24,049 and tantalum at $226.80, representing increases of 0.05% and 0.35% respectively.
Fluctuations in commodity prices are often influenced by supply and demand dynamics in global markets. This situation has a direct impact on the Congolese economy which depends heavily on the export of these natural resources.
The recent decline in the prices of gold and other minerals is raising concerns among stakeholders in the Congolese mining sector.
Local producers are concerned about the profitability of their activities in the face of these variations.
Additionally, it is important to note that more than 80% of the gold mined in the DRC is sold at a lower price than the international market. This situation is particularly worrying for artisanal miners who struggle to obtain a fair price for their work.
Experts are calling for better transparency in mining transactions so that the DRC can take full advantage of its gold resources. Strict regulation could help reduce the price differences observed between different market players.
The Congolese Government is also encouraged to put in place measures to protect local producers and ensure that they benefit equitably from the country’s natural resources.
Mitterrand MASAMUNA
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