The Democratic Republic of Congo\u2019s state mining company was one of the world\u2019s top copper miners. It is now on track to bounce back after war and other setbacks threatened to dissolve it altogether. At its peak in 1986, the company shipped 476,000 tonnes of copper. Currently, they plan to increase copper production to 100,000 tonnes this year up from 60,000 tonnes in 2013.<\/p>\n
Founded in 1906, this is one of Africa\u2019s oldest state owned miners. \u201cI have a sense that this company has a legacy and a historical context that the country has transformed into a source of pride. Along with employment and economic benefits, there is a real vested interest to ensure its viability,\u201d notes Attaty Kodjo, ATI\u2019s Underwriter responsible for the DR Congo market.<\/p>\n
Constrained by a lack of power supply, which currently stands at a 300MW deficit, the company is also hoping to raise $2.8 billion to fund a 500-megawatt coal-fired power plant, three processing units and social spending. Together with a new Chief Executive Officer at the helm, they are optimistic that results this year will show a marked improvement.<\/p>\n
ATI is supporting the company\u2019s comeback with cover against non-payment to a local bank on a $15 million loan facility. The loan is expected to shore up the company\u2019s working capital.<\/p>\n
DR Congo is Africa\u2019s leading copper producer and the world\u2019s sixth-largest producer. Mining is an integral part of the country\u2019s economic fabric contributing approximately 80 per cent of its annual export revenue and about 30 per cent of its gross domestic product.<\/p>\n
\u201cThe DRC is undergoing a revival. Much like the rest of Africa, investors are approaching the country with fresh eyes. Banks in particular are looking closely at the potential to support mining and infrastructure projects,\u201d commented Attaty Kodjo, ATI\u2019s Underwriter responsible for the DR Congo market.<\/p>\n
To date, ATI has supported $25 million worth of investments and $27 million in trade to the DRC.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Democratic Republic of Con […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[970],"tags":[],"class_list":["post-12382","post","type-post","status-publish","format-standard","hentry","category-970"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.atidi.africa\/ja\/wp-json\/wp\/v2\/posts\/12382","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.atidi.africa\/ja\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.atidi.africa\/ja\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.atidi.africa\/ja\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.atidi.africa\/ja\/wp-json\/wp\/v2\/comments?post=12382"}],"version-history":[{"count":0,"href":"https:\/\/www.atidi.africa\/ja\/wp-json\/wp\/v2\/posts\/12382\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.atidi.africa\/ja\/wp-json\/wp\/v2\/media?parent=12382"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.atidi.africa\/ja\/wp-json\/wp\/v2\/categories?post=12382"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.atidi.africa\/ja\/wp-json\/wp\/v2\/tags?post=12382"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}