DRC President Seeks New Ventures for Green Energy Metals Exploration
President Felix Tshisekedi aims to establish the Democratic Republic of Congo as a crucial provider of metals for the transition to green energy. This objective requires fresh exploration for nickel and chrome.
President Felix Tshisekedi announced at the Investing in African Mining Indaba conference in Cape Town, South Africa, yesterday 7th February, that exploration for nickel and chrome in the diamond-rich Kasai region of southern Congo will commence in the near future. The country is currently seeking investment partners for the processing of cobalt, tantalum, tin, and lithium.
The shift towards clean energy technologies is a major boost for metals used in batteries, solar panels, wind turbines, and electric vehicles. With limited mine output, prices for these commodities have risen.
Copper on the London Metal Exchange has increased over 40% since the end of 2019, and nickel has skyrocketed by over 90%.
Congo is the world’s second-largest copper producer, tied with Peru, and the primary source of more than two-thirds of the critical battery mineral cobalt, according to the US Geological Survey.
The country also holds substantial reserves of other minerals, including lithium, graphite, and manganese. However, only 19% of Congo, which is Africa’s second-largest country by landmass, has undergone proper exploration, said Tshisekedi.
According to an emailed transcript of his remarks, President Tshisekedi stated that the aim is to locate new deposits through calls for bids, with the goal of establishing mutually beneficial public-private partnerships. The newly established national geologic service will oversee the exploration process.
The president intends to attract new investment by enhancing the regulatory environment and introducing incentives, such as a special economic zone centered around lithium deposits in southeastern Congo.
He said that financiers, mining operators, equipment manufacturers, subcontractors, and recyclers will all have a role to play in the process.
Despite its abundant minerals, Congo remains one of the world’s poorest countries, and the president emphasized that miners must ensure that the Congolese people also benefit. This will include purchasing insurance from companies registered in Congo and engaging in development projects with local communities during exploration.
