DRC: DRC's Mining Industry Hobbled by Poor Infrastructure, Tax Hike

Jun 17, 2018 | eNews Channel Africa
View Original

Feasting on a global demand for cobalt and copper, the mining industry in the Democratic Republic of Congo is flourishing - but two clouds are spoiling its sunlit future. First is the lack of power, which is holding back the development of the minerals processing sector and crimping the country's ability to reap higher profits from the boom. DR Congo is Africa's largest copper producer, and while it is the world's leading source of cobalt, miners can only export concentrate forms of cobalt at 60-70-percent of the market price because of the energy problem.