DRC’s Mining Projects Get $1.5B Boost from Japan
The Japanese government has outlined plans to extend substantial financial assistance totaling $1.5 billion to the Democratic Republic of Congo (DRC), aimed at facilitating an accurate assessment of its underground resources through the exploration of diverse deposits.
This significant development was unveiled on August 10, 2023, during a productive dialogue involving Godard Motema, the Vice-Minister of Mines for the DRC, who stood in for the Minister of Mines, and Nishimura Yasutoshi, the Japanese Minister of Economy, Trade and Industry.
Lauding the harmonious diplomatic ties shared between these two nations, Nishimura Yasutoshi, the Japanese Minister, announced the unwavering commitment of his government to bolster the DRC’s mining sector initiatives.
In line with this vision, Nishimura Yasutoshi disclosed Japan’s readiness to back the DRC’s efforts, offering substantial financial support.
Expressing the Japanese government’s affirmative stance towards fostering closer engagement between Japanese enterprises and the Congo, Nishimura Yasutoshi conveyed that an allocation of $1.5 billion had already been earmarked for this purpose.
The formalization of the renewal of the second protocol, which had lapsed on March 31, 2023, took shape through a ceremonial signing event.
This event symbolized the new collaborative venture between Japan and the DRC, focused on synergistic efforts in the realm of satellite image analysis. The signing ceremony unfolded in the distinguished blue room of the governmental edifice.
It is pertinent to recall that the Ministry of Mines of the DRC and the Japan Oil, Gas and Metals National Corporation (JOGMEC) initially established a Memorandum of Understanding on December 16, 2012.
This significant understanding was subsequently renewed on May 2, 2018. Notably, this Memorandum of Understanding has now been further extended for a duration of five years, effectively spanning until March 2023.
