DRC Targets ‘Modern Investors’ to Bolster Mining Sector
The Democratic Republic of Congo (DRC) is seeking ‘modern investors’ to tap into the country’s mining sector, which boasts over $460 trillion worth of untapped mineral deposits.
Miguel Kashal Katemb, Director General of the DRC’s Regulatory Authority for Subcontracting in the Private Sector (ARSP), said the country wants to collaborate with responsible investors, particularly those focused on equity funds and exchange-traded funds, to drive infrastructure development within the mining sector.
“We have many big investors in the DRC already, but we need modern investors. We are looking for investors who can help to build a new world for the Congolese people, where the social and economic benefits of investments are shared widely,” stated Katemb.
The announcement follows Canadian mining company, Ivanhoe Mines, investing in the DRC’s Kamoa-Kakula Copper and Kipushi Zinc projects, and a commitment by Chinese firms Sinohydro and China Railway to channel $7 billion into infrastructure projects within the country.
