DR Congo: copper production drops 14% in the first quarter of 2016
According to the figures published by the Central Bank on Tuesday, the DRC produced a total 466,250 tonnes of copper in the first quarter of 2016, down 14%.

The drop in production comes as several of the country's copper mines put their processing operations on stand-by due to the fall in global copper prices.

This is very bad news for the country's economy. Approximately 95% of export revenue relies on the extraction industry. In June, the government cut back its budget by 22% due to reduced revenue from primary resources. To make matters worse, cobalt production, in which the country is the world leader, also dropped 13% for a total 35,267 tonnes over the quarter. The DRC is Africa's largest copper producer. In 2015, total production of the red metal fell from 1.03 million tonnes the previous year to 990,000 tonnes.

Source: Monusco


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