During the next five years, the DRC will go head to head with Peru as the fastest-growing mining market in the world.
Estimates by BMI Research, a unit of Fitch Group, suggest the Central African country will likely benefit from low labour costs, high ore grades and vast untapped resources, which will result in an average mining industry value growth rate of 9% between 2017 and 2021.
This will attract foreign investment in some of its largest gold and copper deposits, particularly from China, according to a Mining Review Africa report.
In addition, the DRC is holder of 50% of the world’s cobalt reserves (primarily used in rechargeable batteries), which will also benefit the industry. BMI projects a solid growth future in global battery demand, forecasting the DRC’s cobalt production to increase from 70 000 tons in 2017 to 82 000 tons in 2021.
