2024 Impact and Finance Report

In our commitment to stay transparent about our work in the DR Congo, we are proud to publish the 2024 Impact and Financial Report available here.

Starting with a foreword (below) from the Chair of the Steering Committee, Ines Kaempfer, and the Executive Director of the FCA, Agathe Bukasa, the annual report offers a transparent account of both progress and ongoing challenges, detailed through case studies of the work done in the past year by our local team, in close collaboration with our local and international partners.

Reflecting on 2024: FCA’s Official Impact and Finance Report

In a year characterised by progress, learnings, and adaptation for the Fair Cobalt Alliance (FCA), we are reminded of the paramount need for collaborative action to support the nearly 150,000 – 200,000 people directly reliant on artisanal and small-scale mining (ASM) in the DRC.

The sustained softening of the global cobalt market continues to influence the dynamics of ASM and the overall profitability of the trade. Despite these market pressures, cobalt remains a critical mineral for the energy transition. Demand—particularly for electric vehicle (EV) production—is projected to more than triple between 2020 and 2050, reaching 250 kilotonnes by 2050 (BloombergNEF, 2024). With the right support and investment, the artisanal cobalt sector has the potential to supply this growing demand and position the DRC as a key player in Africa’s emerging battery manufacturing landscape.

We are encouraged by the appointment of H.E. Mr. Kizito Pakomba Kapinga as Minister of Mines. His leadership brings renewed momentum for the reforms and investment needed for responsible ASM practices.

Creusers constructing a tarpaulin rain cover to secure tunnel entries from flooding. Between 150,000 and 250,000 people work in the DRC’s artisanal cobalt sector, contributing 5–6% of the country’s cobalt output. This is significant, as the DRC accounted for 73.9% of global cobalt production in 2024 (USGS)

A collaborative approach to transforming the artisanal mining communities

With the support of our members, implementing partners, and donors, we have seen a reduction in fatal and serious incidents at the mine site through improved occupational health and safety practices. We also celebrated the children who completed the Child Labour Remediation (CLR) programme and observed growing economic resilience in the mining communities — particularly among women — through the continued development of micro-enterprises supported by the savings and loan groups.

In 2024, we secured a €320K grant from the European Partnership for Responsible Minerals (EPRM) to scale and digitise the cobalt credit mechanism. This innovative financing tool enables downstream companies to invest in ASM site improvements, even where direct offtake or physical integration is not yet feasible.

We believe that building a responsible ASM sector that supports resilient communities is only possible through collective and targeted interventions. We were therefore delighted to welcome new members to our alliance —Northvolt, the Alliance for Responsible Mining (ARM), and Telf AG— who share this vision.

Looking ahead: scaling impact and strengthening market linkages

As we move into 2025, the macro-political and security landscape will continue to present challenges. The deepening security and humanitarian crisis in Eastern DRC continues to be of great concern. The Increased instability has endangered countless lives and threatens the livelihoods of many mining communities. We stand in solidarity with the people of the DRC and call for an immediate end to the conflict.

Despite challenging macro factors, FCA continues to prioritise scaling its interventions and strengthening market linkages for responsibly produced ASM materials. Our ongoing partnership with Entreprise Générale du Cobalt (EGC) — a subsidiary of the state mining company Gécamines— to develop a responsible and scalable model for the formalisation and professionalisation of ASM mining reflects our commitment to systemic change.

We extend our deepest gratitude to all stakeholders who remain committed to the mission of the FCA. With so much work still ahead, your support will be vital in addressing the numerous challenges we face in supporting the individuals, families, and communities that depend on artisanal and small-scale mining (ASM) in the DRC.

Download the Annual Report Here