Mercuria and TechMet Explore Tantalum Mining Venture in DRC Amid US-Brokered Peace Talks
Mercuria, TechMet Weigh Tantalum Mining Partnership in Eastern Congo as US Seeks Peace and Strategic Minerals Access
Mercuria Energy Group Ltd. has held preliminary discussions with TechMet Ltd., a US-backed critical minerals investment company, over a potential partnership to develop one of the world’s richest tantalum deposits in the conflict-torn eastern Democratic Republic of Congo (DRC) — contingent on a US-brokered peace deal.
According to people familiar with the matter, the Geneva-based commodities trader and TechMet are considering a joint venture to modernize mining and processing operations near Rubaya, an area known for its high-grade coltan ore, which contains tantalum, a key material for electronics, aerospace, and defense industries.
The discussions come as Washington and Kinshasa move closer to a framework aimed at increasing American investment in Congo’s vast mineral wealth, including copper, cobalt, lithium, and tantalum.
The initiative is part of a broader US effort to diversify global supply chains and reduce reliance on China for critical raw materials.
Sources said the companies have engaged in early talks with the US government, though no official discussions with Congolese authorities have yet taken place. Congo’s government, however, is reportedly eager to attract US-aligned investors to promote peace and economic recovery in the region.
Any deal would hinge on the withdrawal of M23 rebels, who currently control mining operations around Rubaya. Both the United States and the United Nations have accused Rwanda of supporting the rebel group — allegations Kigali denies.
The state-owned mining company, Société Aurifère du Kivu et du Maniema SA (SAKIMA), holds the official exploration permit for the Rubaya deposit, but has been unable to access the site due to ongoing conflict. The firm recently won a court ruling in a dispute with a local company over ownership of the concession.
Neither Mercuria, TechMet, nor SAKIMA provided comments on the matter. The US State Department and Congo’s Ministry of Mines also declined to respond to requests for comment.
TechMet, based in Dublin, is backed by major shareholders including the US International Development Finance Corporation (DFC) and the Qatar Investment Authority.
The company has already invested in Trinity Metals Ltd., a tin, tungsten, and tantalum producer in neighboring Rwanda countries that together accounted for nearly 60% of global tantalum output in 2024, according to the US Geological Survey.
Mercuria, which holds a significant stake in TechMet, is expanding aggressively into metals trading, with a growing focus on copper operations in Congo and Zambia.
For years, coltan mining in eastern Congo has relied on artisanal miners, working in dangerous and informal conditions. Several attempts to industrialize production have been derailed by persistent insecurity and lack of infrastructure.
The Trump administration is currently mediating a peace agreement between Congo and Rwanda to end decades of violence in the border region. The proposed “industrialization of Rubaya” is a key component of that initiative, according to Massad Boulos, the US State Department’s senior adviser for Africa.
However, people familiar with the talks said peace and security must first be restored in the area before Mercuria or TechMet can move forward with any investment. Since April 2024, M23 rebels have occupied large swaths of eastern Congo, including Rubaya’s key mining sites.
Preliminary discussions between TechMet and the US government underscore both the potential and the challenges of developing Congo’s tantalum sector — a venture that could reshape regional mining dynamics, but only if stability and rule of law can be restored.
