loader image

Current news DRC : Call for investment in the mining sector

Home > Blog > Mining > Current news DRC : Call for investment in the mining sector

Current news DRC : Call for investment in the mining sector

The Democratic Republic of Congo (DRC) calls upon investors to tap into its mineral resources, valued at 24 trillion USD. According to authorities, exploiting these mineral riches will yield substantial returns for investors and contribute to the socio-economic progress of the Congolese population.

Mining-Centric development plan

The DRC is embarking on an ambitious initiative to harness its untapped mineral resources, estimated at 24 trillion USD. The country seeks « modern investors » to drive its mining-centered development plan forward to achieve this goal.

At the helm of this initiative is Mr. Miguel Kashal Katemb, Director General of the Authority for Regulation of Subcontracting in the Private Sector (ARSP). During the 30th annual Mining Indaba in Cape Town, South Africa, Mr. Katemb conveyed the aspirations of the Congolese nation.

In his address to an audience of investors, Mr. Katemb announced the DRC’s openness to all investors while emphasizing a preference for partners who share the country’s vision for sustainable economic growth.

He outlined a vision wherein investments in the DRC offer significant returns for investors and contribute to the socio-economic progress of the Congolese population. The ARSP plays a crucial link between mining investors and local Congolese businesses, facilitating market access and resource utilization while ensuring fair participation in the mining value chain.

Promoting Job creation and Entrepreneurship through investments

This strategic approach aligns with President Félix Antoine Tshisekedi’s agenda to foster job creation and entrepreneurial opportunities. Recent regulatory reforms introduced by the DRC stipulate that 51 % of secondary activities, such as subcontractors, within the mining industry must be owned by Congolese entities.

This decision aims to better distribute the benefits derived from the country’s abundant mineral resources, ensuring that the wealth generated by mining activities benefits all segments of society.

During the Mining Indaba forum, Mr. Katemb reiterated the DRC’s commitment to finding investors capable of contributing to a prosperous future for the Congolese people. He emphasized the importance of partnering with entities committed to ethical business practices and sustainable development, aligning with shared prosperity.

Canadian mining giant Ivanhoe Mines highlighted as an example

By showcasing the Canadian mining giant Ivanhoe Mines as a model modern investor, Mr. Katemb illustrates the type of collaboration the DRC seeks to encourage. He believes that with the right partners, there will be « enough cake for everyone » in the equitable distribution of the country’s mineral wealth.

The DRC’s efforts to attract modern investors are supported by a strategic vision emphasizing inclusive growth and responsible resource exploitation. By engaging in mutually beneficial partnerships, the nation aims to unlock its mineral wealth’s full potential while safeguarding its citizens’ interests.

Investors seeking opportunities in the DRC’s mining sector are drawn not only by the prospect of substantial returns but also by the opportunity to serve as catalysts for positive change.

DRC’s quest to attract investors

With the support of visionary partners, the DRC is committed to paving the way for sustainable development that will have a lasting impact on its economy and society. As global demand for minerals rises, the DRC positions itself as a key player on the international mining stage.

By capitalizing on its vast resources and fostering collaborative partnerships, the nation aspires to create a prosperous future that will benefit both present and future generations. The DRC’s quest to attract modern investors represents a pivotal moment in its journey toward realizing its mining potential.

The country is on the verge of realizing its vision of shared prosperity and sustainable development through strategic alliances and forward-thinking policies.

Mineral wealth of the DRC

The DRC boasts an abundance of precious resources that have the potential to shape not only its destiny but also that of the global economy. From dense forests in its interior to vast savannas in its border regions, the geological landscape of the DRC is rich in a variety of minerals coveted by industries worldwide.

Cobalt is at the core of these mineral riches, a crucial element in producing lithium-ion batteries essential for electric vehicles and renewable energy storage.

With approximately 60 % of the world’s cobalt reserves, the DRC holds a strategic position in the transition to a greener and more sustainable future. However, despite its crucial importance, the cobalt industry in the DRC faces challenges related to artisanal mining practices and concerns about working conditions, prompting calls for greater accountability and sustainability.

Exploiting copper potential in the DRC

In addition to cobalt, the DRC positions itself as one of the world’s leading copper producers. The Katanga region, in particular, is renowned for its vast copper deposits, attracting multinational mining companies eager to capitalize on this valuable resource.

Copper, used in various sectors such as construction, electronics, and telecommunications, forms the cornerstone of the DRC’s economy, fueling industrial growth and export revenues.

Furthermore, the DRC holds significant tantalum, tin, tungsten, and gold reserves. Diamonds are also crucial in the country’s mining portfolio, with some of the largest reserves globally.

However, the DRC’s diamond industry faces significant challenges, such as smuggling, illegal mining, and financing of armed groups, underscoring the urgent need for transparency and regulation.

Colonial exploitation and decades of conflict

Despite its considerable mineral wealth, the DRC needs help to fully exploit the economic potential of its resources due to various factors, including political instability, corruption, inadequate infrastructure, and regulatory uncertainty.

Moreover, the legacy of colonial exploitation and decades of conflict have left deep scars in the country’s mining sector, hindering efforts to promote sustainable development and equitable wealth distribution.

The government has undertaken reforms to improve governance, enhance transparency, and attract responsible investments in the mining sector.

National agency for investment promotion

Through the National Agency for Investment Promotion (ANAPI), the DRC aims to attract investors to mining operations and exploit the country’s vast arable land, approximately 80 million hectares spread across all provinces, for agricultural investments.

Under the leadership of Director General Anthony Kamole, ANAPI is working to improve the business environment by advocating for and providing advice to the government.

The agency offers various services to investors, facilitating their establishment in the country and ensuring their competitiveness. Additionally, according to the Investment Code, ANAPI grants customs and tax facilitations to investors whose projects are eligible for these benefits.

Share this article
Share this Article:
Join our newsletter

Join the latest releases and tips, interesting articles, and exclusive interviews in your inbox every week.