DRC Reveals $70 Million Plan to Revitalize MIBA and Increase Diamond Production
Last Friday in Kinshasa, Kizito Pakabomba, the National Minister of Mines, presented a $70 million plan to relaunch the Bakwanga Mining Company (MIBA) during the tenth Council of Ministers.
The plan, which focuses on five key areas—certification of mining reserves, concession security, production-related investments, personnel costs, and monitoring-evaluation—aims to increase MIBA’s production capacity from 2026.
The company, based in the Kasai region, is targeting an annual output of 2,438,484 carats, valued at $58.95 million in revenue from diamond extraction and marketing.
To support this ambitious goal, the National Minister of Mines recommended five urgent measures, including state financial intervention through a contribution from the majority shareholder and restructuring MIBA SA’s debts with the collaboration of the Ministry of Finance and the Ministry of Portfolio.
Reviving MIBA’s operations could significantly boost the regional economy in the Democratic Republic of Congo (DRC), providing employment for thousands of Congolese citizens.
