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Congo Warns US: Minerals Deal Needs Projects or New Partners
11 Feb
Summary
- DRC will seek new partners if U.S. minerals cooperation yields no projects.
- The country signed a framework agreement with the U.S. in December.
- Congo's mining minister stated that nothing has been sold to America yet.
The Democratic Republic of Congo (DRC) is prepared to seek alternative partners if its current minerals cooperation framework with the United States fails to materialize into tangible projects. Mines Minister Louis Watum Kabamba indicated on the sidelines of the Indaba mining conference that the agreement is a preliminary framework for discussing mutual interests.
Kabamba stressed that the DRC has not yet sold any of its vast mineral resources to the U.S. and will not do so without significant benefit. The central African nation, which possesses substantial reserves of cobalt, copper, and lithium, signed an initial agreement with the U.S. in December to develop critical mineral supply chains.
The DRC's minister also noted that less than 10% of the country's mineral wealth is currently exploited. Major mining companies, including Western and Chinese firms, operate in the DRC. The country intends to prioritize its own development, focusing on feeding its population and investing in its youth, rather than becoming entangled in geopolitical rivalries.
