Advertisement
UK markets closed
  • FTSE 100

    7,952.62
    +20.64 (+0.26%)
     
  • FTSE 250

    19,884.73
    +74.07 (+0.37%)
     
  • AIM

    743.26
    +1.15 (+0.15%)
     
  • GBP/EUR

    1.1708
    +0.0014 (+0.12%)
     
  • GBP/USD

    1.2623
    +0.0001 (+0.01%)
     
  • Bitcoin GBP

    55,203.28
    -796.67 (-1.42%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • S&P 500

    5,254.35
    +5.86 (+0.11%)
     
  • DOW

    39,807.37
    +47.29 (+0.12%)
     
  • CRUDE OIL

    83.11
    -0.06 (-0.07%)
     
  • GOLD FUTURES

    2,254.80
    +16.40 (+0.73%)
     
  • NIKKEI 225

    40,369.44
    +201.37 (+0.50%)
     
  • HANG SENG

    16,541.42
    +148.58 (+0.91%)
     
  • DAX

    18,492.49
    +15.40 (+0.08%)
     
  • CAC 40

    8,205.81
    +1.00 (+0.01%)
     

DR Congo gold output to rise to up to 18 tonnes - mines minister

(Adds details, chamber of mines figures)

KINSHASA, Oct 22 (Reuters) - Democratic Republic of Congo's gold output is set to jump to up to 18 tonnes this year, more than four times last year's production, the country's mines minister Martin Kabwelulu said on Wednesday.

Congo's economy has long been crippled by mismanagement, corruption and two decades of armed conflict in the country's eastern borderlands. But investors are now rushing to cash in on largely undeveloped mineral reserves.

The spike in output is largely due to the opening of new mines, including Randgold Resources and AngloGold Ashanti's Kibali mine in the country's northeast.

ADVERTISEMENT

"This production was more or less 100 kilos in 2007 and passed to 4 tonnes last year, and this year we hope it will reach 16 to 18 tonnes," he told a mining conference in the capital Kinshasa.

Congo's Chamber of Mines at the same conference projected gold output this year at 16.658 tonnes, up from 6.149 in 2013.

(Reporting by Aaron Ross; Writing by Joe Bavier, editing by David Evans)