THE Democratic Republic of Congo’s state-owned gold trading company is targeting sales of 15 tons this year from the country’s artisanal mining sector, with the central bank identified as a potential major buyer, said Reuters on Monday.DRC Gold Trading was established in December 2022 as a joint venture with the United Arab Emirates before the government assumed full ownership in 2024, seeking to channel informally mined gold into official export channels — part of a broader formalisation drive seen across the continent, said Reuters.In its first three years of operation, the company purchased just 10 tons of gold for trading, having handled barely 25 kilograms annually before 2023, the newswire added.Under an agreement signed with Congo’s central bank in February, DRC Gold Trading was granted priority access to all gold it collects for use in building national reserves.CEO Joseph Kazibaziba said pricing would follow international benchmarks and national regulations, with delivery volumes determined by the central bank’s requirements.More than 45 foreign buyers have requested supply from the company, though domestic reserve accumulation takes precedence, Kazibaziba said. The company is expanding operations across eight provinces to meet rising demand.Congo is the world’s leading supplier of battery metals and holds substantial untapped gold reserves. Central banks globally have been increasing bullion holdings as a hedge against economic uncertainty.Surging gold prices have fuelled a boom in artisanal mining across Africa, where limited regulatory oversight means much of the output is smuggled rather than entering formal markets. The central bank has not disclosed its reserve accumulation targets.The post Congo gold trader targets new artisanal haul appeared first on Miningmx.
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