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DRC seeks “mordern investors” for its minerals

For illustration purposes: a methane gas detector displays a reading as a coal miner , operates a continuous miner machine in a coal mine roughly 40-inches-high in Welch, W.Va   -  
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David Goldman/AP

South Africa

The Democratic Republic of Congo is looking for modern investors in its mineral sector.

Addressing investors at the 30th edition of the Mining Indaba forum in South Africa, the Director General of the DRC's Regulatory Authority for Subcontracting in the Private Sector underscored his country's openness to all investors while emphasising the preference for partners who align with its vision of sustainable economic growth.

On Tuesday (Feb. 06) Miguel Kashal Katemb highlighted Canadian mining giant Ivanhoe Mines as an example of a “modern investor”.

He expressed confidence that with the right partners, there will be “cake for everyone” in the equitable distribution of the country’s mining riches.

This approach resonates with President Félix Tshisekedi‘s agenda to foster job creation and entrepreneurial opportunities.

The DRC's Regulatory Authority for Subcontracting in the Private Sector is a vital link between mining investors and local Congolese companies. It facilitates market access and resource utilisation while ensuring equitable participation in the mining value chain.

The DRC's mining sector has faced challenges related to corruption, illegal exploitation and alleged pillaging by foreign states and companies, unsafe artisanal mining practices and concerns over labour conditions among other issues.

The nation's untapped mineral wealth is valued at $24 trillion.

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