DRC Minister of Mines Reports on Framework Agreement Negotiation with Africa Diamonds Exchange
During the Council of Ministers on Friday, July 19, Minister of Mines Kizito Kapinga Mulume provided an update on the negotiation of the Framework Collaboration Agreement between the Mining Fund for Future Generations (FOMIN) and the Africa Diamonds Exchange (ADEX), a Swiss-incorporated company.
A delegation from the Ministry of Mines, including representatives from FOMIN, CEEC, and CTCPM, visited Zurich from May 26 to June 2, 2024.
They reached an agreement on establishing ADEX RDC SA, a new collaboration framework between FOMIN and ADEX to negotiate the Framework Collaboration Agreement in the mining sector.
Minister Kapinga detailed the negotiation process, emphasizing fair distribution of margins and responsibilities. The Swiss party will provide advanced technology, training, major customers, and access to the international electronic platform.
The Congolese side will supply diamonds and colored stones, with support from the CEEC, infrastructure, financing, and working capital.
Kapinga highlighted that the agreement ensures substantial income for operators in the diamond sector, particularly mining cooperatives and traders, compared to the current system.
The agreement promotes local processing, job creation, fair trade considerations, and the establishment of a DRC brand through jewelry manufacturing.
The Minister of Mines sought the Government’s approval, as required by Article 7, Paragraph 2 of the Decree on FOMIN’s statutes, organization, and operation, before signing the Framework Agreement.
