DRC President Reshuffles Gecamines Leadership Amid US Minerals Talks
DR Congo Replaces Gecamines Chair and CEO as US Minerals Deal Negotiations Advance
The President of the Democratic Republic of Congo has replaced the board chair and chief executive of state mining company Gecamines, marking a significant leadership shake-up as negotiations with Washington over a minerals partnership gather momentum.
According to an official statement broadcast on state television, Deogratias Ngele Masudi, a senior government official and former justice minister, has been appointed chair of Gecamines. Baraka Kabemba has been named the company’s new chief executive officer.
Former chair Guy Robert Lukama has been appointed CEO of the Kilo-Moto Gold Mining Company, one of Congo’s oldest state-run gold producers. No replacement has yet been announced for former Gecamines CEO Placide Nkala Basadilua.
It remains unclear whether the leadership changes are directly linked to ongoing discussions between Kinshasa and the United States.
The Congolese government is seeking to attract increased Western investment into its vast mineral sector under a proposed minerals cooperation agreement tied to security guarantees.
Masudi and Kabemba were not immediately available for comment.
Congo Submits Asset List to Washington
Reuters previously reported that Kinshasa submitted a shortlist of strategic assets to US officials, including manganese, copper-cobalt, gold, lithium and hydrocarbon projects.
The move represents the most concrete step to date in advancing the bilateral minerals partnership.
The asset list also includes holdings linked to Dubai-based miner Chemaf, a financially distressed copper-cobalt producer that US-backed Virtus Minerals has agreed to acquire for approximately $30 million, while assuming substantial debt obligations.
Gecamines holds the mining leases for Chemaf’s operations, meaning any acquisition or change of control cannot proceed without its approval.
Masudi previously served as director general of Gecamines, the state miner that controls a significant portion of the Democratic Republic of Congo’s mineral licences and leases them to international investors.
