Wedoany.com Report on Mar 10th, The Democratic Republic of Congo's state-owned gold trading company, DRC Gold Trading, plans to increase the amount of artisanal gold it sells from the artisanal mining sector to 15 metric tons by 2026, with the central bank potentially being a key buyer.
Congo, the world's largest supplier of battery metals with vast untapped gold reserves, established DRC Gold Trading in December 2022 as a joint venture with the United Arab Emirates. Over the past three years, the company has purchased only 10 tons of gold for trading.
The government took full ownership of the company in 2024, aiming to channel artisanal gold into formal export routes, reflecting cleanup efforts seen across Africa. DRC Gold Trading signed an agreement with the Congolese central bank in February 2024, granting it priority access to all collected gold for building national reserves.
Central banks globally are increasingly stockpiling gold bars to hedge against uncertainty. DRC Gold Trading CEO Joseph Kazibaziba told Reuters: "The price for selling gold to the central bank will follow international benchmarks and national regulations, while the delivery volume will depend on the central bank's requirements under the February agreement." He stated that over 45 foreign buyers have requested gold supplies from DRC Gold Trading, but domestic reserve accumulation remains a priority.
Kazibaziba noted that the company purchased only about 25 kilograms of artisanal gold annually for trading before 2023 and is now expanding its operations to eight provinces to meet surging demand. "The delivery volume will depend on [the central bank's] demand," he said. "We are doing everything possible to ensure full compliance with our obligations." The central bank has not yet commented on its gold reserve targets.
Surging gold bar prices have fueled a boom in informal gold mining across Africa, with weak regulation leading to significant output being smuggled rather than entering official markets. DRC Gold Trading aims to increase domestic reserves of artisanal gold through formalized channels to support Congo's economic development and stability.
