Republic of Congo : Mining Sector Review
The Republic of Congo covers an area of 342,000 square kilometers (km), of which forests occupy three-fifths, the rest being dominated by savannah. Oil has long been the principal resource of Congo. Since the first exploitations were launched in 19...
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| Language: | English en_US |
| Published: |
Washington, DC
2013
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| Online Access: | http://documents.worldbank.org/curated/en/2012/10/17393756/republic-congo-mining-sector-review http://hdl.handle.net/10986/13243 |
| Summary: | The Republic of Congo covers an area of
342,000 square kilometers (km), of which forests occupy
three-fifths, the rest being dominated by savannah. Oil has
long been the principal resource of Congo. Since the first
exploitations were launched in 1970, the oil sector has
become the dominant economic activity and major source of
income for the state. The growth rate in real terms was 8.8
percent in 2010, with gross domestic product (GDP) per
capita reaching $4532. In 2010, GDP nearly reached two digit
growths, driven up by a significant increase of oil
production, by reinforcement of non-oil activities, in
particular forest industry, construction and
telecommunications. The Government made development of the
mining sector a priority to diversify the economy. The
present review of the mining sector, led by World Bank in
partnership with the Ministry of Geology and Mining, aims to
update and understand further these characterizations, to
document the prospects and challenges of mining development
and to prioritize actions that optimize the sector's
contribution to economic diversification and sustainable
development. This review of mining sector helped to
characterize the issues of governance in following four
areas: (1) promotion of geological heritage and mineral
resources; (2) facilitating entry into production; (3)
continuous improvement of the political, institutional,
legal and regulatory framework; and (4) optimization of the
sector's contribution to diversification. After this
study, an action plan to improve the mining sector can be outlined. |
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