South Africa recorded a strong trade surplus of R17.6 billion ($956.9 million) in July 2024, as exports climbed to R175.0 billion ($9.52 billion) against imports of R157.4 billion ($8.56 billion), according to data release from the South African Revenue Service (SARS).

Former South African President Jacob Zuma appeared in the High Court last week for a pre-trial hearing in his nearly two-decade-long fraud and corruption case linked to the controversial Arms Deal.

South Africa Sees 163 Days of Uninterrupted Power Supply, Saving R12 Billion in Diesel Costs

Naspers and Prosus Lead JSE Decline Amid Global Tech Slowdowns

Kamoa-Kakula Reaches Record Production

Kibali: A Gold Mine in Full Expansion Transforms the DRC

Barrick Gold Corporation's Kibali mine in the Democratic Republic of the Congo is expanding its operations, maintaining an annual production of 750,000 ounces of gold for potentially up to 15 years. The mine is noted for its automation and commitment to renewable energy, with plans to increase its renewable energy mix to 85% by adding solar and battery storage. The mine has significantly impacted local economic and social development, with the population growing from 30,000 to over 500,000. Barrick has invested in community development and local partnerships, contributing $2.7 billion to local contractors and suppliers since 2010. The company is also involved in biodiversity efforts, reintroducing white rhinos to Garamba National Park, and revitalizing the coffee industry in Haut-Uélé. Barrick's future plans include further gold and copper exploration in the DRC, contingent on continued government partnership.

SENIOR BUSINESS JOURNALIST

Perspectives de Tuma Waku: Le potentiel minier inexploré

The Democratic Republic of the Congo (DRC) holds vast untapped mineral reserves, presenting significant opportunities for investors, according to mining expert Simons Tuma Waku. Speaking at the Mining Indaba 2024, Waku emphasized the importance of exploration and modernizing production facilities to meet growing mineral demand. He highlighted the substantial investments by Chinese companies under the Sicomines contract, urging the DRC government to ensure transparent and effective management of these funds to benefit the country's socio-economic development. The DRC, a leading global producer of cobalt and a major player in copper and gold, is positioned as a key player in the global mining industry.

Inter Oriental Builders (IOB SARL): A Pillar of the Congolese Mining Industry

Inter Oriental Builders (IOB SARL), under the leadership of Feni Matsando, has emerged as a key player in the Democratic Republic of the Congo's mining industry. Initially focused on civil engineering, the company has expanded into mining, offering a diverse range of services. At the Mining Indaba 2024, Matsando highlighted the company's achievements and future growth, supported by major contracts with Kamoa. IOB SARL is committed to local subcontracting and economic development, with significant support from Kibali Gold Mines. The company's participation in the conference marks a new era of collaboration and innovation in the African mining sector.

Susa Maleba of SRK Consulting International proposes innovative solutions for artisanal mining in the DRC

Susa Maleba of SRK Consulting International proposes innovative strategies to transform artisanal mining in the Democratic Republic of the Congo (DRC) into a more sustainable and beneficial industry. His approach includes creating semi-industrial entities to support artisanal miners and integrating Environmental, Social, and Governance (ESG) principles. Maleba highlights the economic and social benefits of these strategies, supported by recent legislative measures aimed at promoting local businesses. His vision aims to ensure fair compensation, responsible resource exploitation, and improved living conditions for local communities.