ARSP and CMOC Forge Agreement to Boost Congolese Participation in Tenke Fungurume Mining Value Chain
The Congolese Regulatory Authority for Subcontracting in the Private Sector (ARSP) has announced a groundbreaking agreement with China’s CMOC Group, the majority shareholder of Tenke Fungurume Mining (TFM), to enhance Congolese involvement in the project’s value chain.
Under the agreement, CMOC, holding an 80% stake in TFM, commits to ensuring that subcontractors involved in the project are at least 51% Congolese-owned, as mandated by regulations.
In its facilitative role, ARSP is assisting CMOC by providing a curated list of recommended Congolese businesses, such as Elephant Trade, Panaco, GHS, and Bofa, focused on the mining sector and TFM.
This collaboration aims to foster connections between Congolese companies and international investors across various sectors, with the list continually updated to facilitate more partnerships.
The announcement follows constructive discussions between CMOC and ARSP director-general Miguel Kashal Katemb, who lauded the development as a step towards enhancing Congolese participation in the valuable TFM project.
The agreement signifies significant progress at TFM since the resumption of operations in 2023, with ARSP and CMOC committed to ensuring that the benefits from the mine’s copper and cobalt reserves contribute to the economic development of the region.
Aligned with President Félix Tshisekedi’s vision of generating 6.4 million new jobs in the DRC, this partnership between ARSP and CMOC is poised to create more economic opportunities and jobs for the Congolese people in the Lualaba region.
