DRC: MIBA signs memorandum of understanding with Russian firm Alrosa for diamond exploration and production

The Bakwanga Mining Company (MIBA) signs a memorandum of understanding with Russian diamond giant Alrosa with the aim of increasing commercial, technological, scientific and technical cooperation between the two parties.

Concretely, the agreement will allow Alrosa in particular to participate in the exploration and production of diamonds in the DRC, in compliance with responsible sourcing standards in this area. This cooperation could result in the formation of a joint venture between the two companies and an investment by Alrosa in the Central African country, a prospect which is already delighting the authorities.

“The strategic partnership between Alrosa and MIBA will create significant value for the Congolese mining industry, its economy and its people. This partnership will also strengthen relations between Russia and the DRC and pave the way for further cooperation between the two countries, ”commented businessman Kacy Grine, adviser to the Congolese government on this issue.

While this agreement promotes the development of the diamond mining industry in the DRC by, for example, making Alrosa’s human and technical resources available to MIBA, it above all allows the Russian giant to potentially gain interests in the deposits of the 4th producer. global.

Kasai-Oriental has diamonds in quantity. Countless mines, and how many unexploited deposits.

Two large companies exploit precious stones there. La Minière de Bakwanga (MIBA) [one of the country’s main mining companies, of which the Congolese state is the majority shareholder] and the Sino-Congolese company Sacim. If the first is bankrupt, the second is at its peak. Sacim had sold, in mid-February 2020, in Antwerp, Belgium, a new batch of diamonds at 7.8 million dollars [7.2 million euros]. This record sale is the second in a few months: in November 2019, 350,000 carats had been traded for 5.92 million dollars [5.48 million euros]. However, all of this does not benefit Mbujimayi.