President Tshisekedi Defends DRC–KoBold Metals Mining Deal as “Win-Win” Partnership

DRC President Tshisekedi Clarifies KoBold Metals Agreement: A Transparent “Win-Win” Deal, Not Exploitation

The Congolese government and KoBold Metals signed an agreement in principle in July concerning mining operations in the Democratic Republic of Congo (DRC). Since then, the partnership has been the subject of widespread speculation, with false images and misleading claims circulating on social media.

On the sidelines of the 80th United Nations General Assembly in New York this Monday, President Félix Tshisekedi addressed the controversy directly. He stressed that the deal with KoBold is not predatory, but rather an example of balanced cooperation designed to benefit both parties.

“Don’t see this partnership as predatory; it’s not true. Of course, these partnerships aren’t always balanced, and that’s precisely what I stood up against. When I arrived, I found agreements where the DRC received only 20 or 30 percent, while investors took 70 to 80 percent.

I demanded that they be rebalanced. It’s not easy, because these are contracts that have already been signed, but we’re fighting this battle, contract by contract, signature by signature,” President Tshisekedi explained.

Mismanagement of Previous Mining Contracts

The Head of State pointed to longstanding mismanagement of earlier mining agreements, particularly during his predecessor’s tenure. He noted that while contracts often contained provisions requiring companies to allocate funds for community development, these obligations were frequently ignored or misappropriated.

“Unfortunately, compliance with these clauses has often failed. Responsibility lies at multiple levels of our administration, down to the local level, where some community leaders or territorial chiefs have diverted the funds intended for the people,” he said.
“This is not only a governance issue but also a matter for justice, investigations, and audits to ensure accountability.”

A New Standard for Partnerships

Looking ahead, President Tshisekedi emphasized that all future investment agreements will be built on mutual benefit and transparency. He stressed that both foreign investors and the Congolese people must see tangible value from mining deals.

He also dismissed claims that the United States, a key backer of KoBold Metals, is acting as an economic predator in the DRC. Instead, he assured that the agreement will be presented openly to both the Congolese Parliament and the U.S. Congress once finalized.

“This is a win-win partnership that will benefit both the Congolese people and the American people,” Tshisekedi concluded.