Africa Mining: Congo mining revenues jump 147% in first 9 months of 2018

Democratic Republic of Congo collected $1.21 billion in revenues from its mining sector over the first nine months of 2018, an increase of 147.4 percent over the same period last year, finance ministry data showed, quoted by Reuters news agency.

Revenues from the hydrocarbons sector rose 1.4 percent over that same period to $120.11 million, according to the data seen by Reuters on Wednesday.

The two sectors together account for roughly 95 percent of Congo’s export revenues. Congo is Africa’s leading copper producer and the world’s top miner of cobalt, which is prized for its use in electric batteries.

(Reporting By Giulia Paravicini; Editing by Aaron Ross and Toby Chopra)