DRC-China Forum: Minister of Mines Unveils Major Investment Opportunities in Congolese Mining
At the DRC-China Economic Forum held in Beijing from September 2 to 3, 2024, Democratic Republic of Congo’s Minister of Mines, Kizito Pakabomba, emphasized the significant potential and investment opportunities within the Congolese mining sector, urging Chinese investors to seize these prospects.
In his address on Tuesday, September 3, Minister Pakabomba outlined the various facilitation and support mechanisms that the DRC government has implemented to foster mutually beneficial partnerships.
Speaking to an audience of Chinese economic operators, he reiterated that mining is the primary driver of economic growth and development in the DRC, directly contributing to the welfare of its population.
To maintain an attractive and competitive sector, particularly for foreign investments from China, Pakabomba highlighted the importance of sustaining a favorable business environment.
During a focused panel discussion, the Minister encouraged Chinese investors to explore opportunities across various sectors, including digital technology, agriculture, sustainable infrastructure, energy, manufacturing, and the local processing of natural resources.
“The mineral resources of the DRC are largely underexploited or untapped. This situation has led the Government, through the Ministry of Mines, to adopt a development strategy based on three pillars: discovering new deposits, adding value to marketable mining products, and promoting investment in essential infrastructure,” stated Kizito Pakabomba.
He stressed that these strategies present promising prospects for investors, positioning the DRC as a prime destination for profitable and sustainable projects.
The Minister also introduced several strategic projects identified and budgeted by the Ministry, for which investment is actively sought, including:
-Establishing a steel production facility in the greater Eastern Province and Kasai.
-Developing phosphate resources in Kongo-Central.
-Installing a pyrometallurgical facility for the treatment of 3T minerals.
-Developing geothermal deposits.
-Exploiting common construction materials and industrial minerals.
-Setting up a plant to process impure cobalt hydroxide for producing energy storage precursors in lithium-ion batteries.
-Creating a plant for the production of electrolytic manganese dioxide for battery manufacturing.
-Exploiting nickel-chromium deposits at Nkonko and Lutshatsha in Kasaï-Central, with estimated resources of 800 million tonnes of nickel ore and 13 million tonnes of chrome ore.
Launched on Monday, September 2, 2024, by Vice Prime Minister Jean-Pierre Bemba, this inaugural DRC-China Economic Forum marks a pivotal moment in the bilateral relations between the two nations.
With over 300 Chinese and Congolese participants, the event underscores the DRC’s commitment to strengthening ties with China for sustainable and inclusive economic development.
The two-day forum aimed to mobilize, promote, and establish win-win partnerships, facilitate access to Chinese public financing, support joint venture initiatives, and provide a comprehensive overview of the DRC’s economic landscape.
