Located in central Africa, the Democratic Republic of Congo or Congo Kinshasa is considered to be the world’s wealthiest country regarding its natural resources. In fact, its unexploited deposits of minerals are estimated to be approximately worth 24 trillion United States Dollars (USD). Despite all this vast potential, the DRC unfortunately still remains a poor nation. What a paradox. Here are the biggest natural resources in the Democratic Republic of Congo that everyone needs to know.
1. Diamonds in Congo
No doubt that Congo has massive natural wealth including vast deposits of diamonds. And up to date, most of Congo diamonds are mined by the informal sector and sometimes manually by individuals. It is quite a very tough process but very lucrative. Only a few mining companies including African Metals Corp, ARC Minerals Ltd, and others are active in the sector. The Democratic Republic of Congo is the 3rd largest producer of diamond in the world just behind Russia and Botswana. But in Africa, the Congo DRC holds the major diamond production.
One of the biggest natural resources in Congo DRC is Gold. In fact, according to CBS News, the gold business has been tremendously fueling the conflict in the DRC, up to date. Also, a major part of the gold in Congo is extracted manually by artisanal miners every year. They use their hands and other tools to operate. Recently. the Congolese government has partnered with the largest mining firm in the world, Barrick gold corporation. The main objective is to develop the gold mining industry in Congo.
3. Coltan Congo
Employed in electric cars and renewable energy technology, the coltan is another amazing mineral resource that you can find in DRC. Once treated and refined, the coltan turns to a heat resistant component that can hold a high electric charge. Due to its great importance in recent years, the Coltan has been officially classified as a strategic mineral for the Democratic Republic of Congo. It is a black metal employed to manufacture tantalum capacitors. This capacitor is a key component for cell phones, laptops, automobiles, photography cameras, and many other electronics. According to CongoWeek.org the DRC Congo holds 80 percent of the world’s coltan.
4. Cobalt: One of the Biggest Mineral Resources In Congo DRC
Recent statistics have shown that DRC is the largest producer of Cobalt in the world. In fact, the country had more than half of global production in the last years, according to Natural Resources Canada. Very useful in today’s digital world, like the coltan in Congo, the cobalt is also a strategic mineral. According to Forbes, the cobalt mining in Congo is mainly done by poor workers, especially children. Due to its global position, the Congo cobalt is among the biggest natural resources in the DRC Congo.
5. Copper Mine In Congo DRC
The mining of Copper is another major industry in Congo. For years the Congo DRC has been the top largest copper producer on the African continent along with Zambia. The DRC Congo possesses substantial reserves of copper. According to Investing News, the DRC is among the top 10 copper producers in the world. Their statistics have also shown that copper production in Congo reached 1,2 million MT as of 2018.
To conclude, the mining sector of the Democratic Republic of Congo has immense potential which is still not exploited fully. Additionally, minerals such as Diamonds, Gold, Coltan, Cobalt and Copper are so important nowadays. Therefore, any investors, businessmen, large organizations in search of a good return on investment should really consider this country. The untapped business opportunities in the Congo mining sector are considerable.
Written by AFRIKTA Team