DRC Plans Centralised Mining Investment Agency Under US Minerals Deal
DRC Plans Centralised Agency to Streamline Major Mining Investments
The Democratic Republic of Congo is preparing to establish a centralised agency to streamline major mining investments as part of reforms linked to its minerals partnership with the United States, according to sources.
The proposed one-stop agency would centralise key processes including company registration, licensing, taxation and compliance, with the objective of reducing bureaucratic delays and making it easier for investors to operate in the country’s mining sector.
The agency would initially focus on major joint-venture projects worth more than US$1 billion and operating under special fiscal regimes.
The Chinese-controlled Sicomines copper and cobalt venture was cited as one example.
According to sources familiar with the reforms, the agency would be open to investors from China, the United States, Europe and other countries.
The initiative is therefore being presented as a way to streamline investment rather than restrict access to the DRC’s mining sector.
The reform is being led by the Finance and Economy ministries, although legislation establishing the agency still requires promulgation.
The agency is expected to become operational this year.
The move comes as the DRC seeks to attract greater investment into its critical minerals sector while diversifying its sources of capital and export markets.
The country is the world’s largest cobalt producer and a major global supplier of copper, placing it at the centre of growing international competition for critical mineral resources.
SOURCE.miningweekly.com
