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Democratic Republic of Congo Seeks Investors in Untapped Mineral Deposits

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Democratic Republic Of Congo Seeks Investors In Untapped Mineral Deposits

The Democratic Republic of the Congo (DRC) is actively seeking investors to collaborate with its private sector, specifically in the untapped mineral deposits, estimated to be worth R460 trillion. Miguel Kashal Katemb, the Director-General of the Regulatory Authority for Subcontracting in the Private Sector (ARSP) in the DRC, made this proposal at the Mining Indaba event held in Cape Town on Tuesday.

Katemb emphasized the need for ‘modern investors,’ who focus on equity funds and exchange-traded funds (ETFs). He stated that while the DRC already has significant investments, they require modern investors who can aid in building a better future for the Congolese people, with investments that bring wide-ranging social and economic benefits.

Among the notable investors mentioned, Canadian mining firm Ivanhoe Mines was highlighted as an example of a ‘modern investor.’ Ivanhoe Mines is currently involved in the development of new mines at the Kamoa-Kakula copper discoveries and the revival of the Kipushi zinc-copper-germanium-silver mine in the DRC.

During the Mining Indaba, Ivanhoe Mines founders Robert Friedland and Marna Cloete announced plans to utilize the corridor to the Angolan port of Lobito for their exports, enhancing trade connections.

Infrastructure remains a key challenge for the DRC, which is actively seeking solutions. President Felix Tshisekedi recently announced negotiations with a consortium of Chinese investors to address this issue. In a new deal, R133 billion ($7 billion) received by the treasury will be allocated to infrastructure projects. The original deal with the Chinese investors had a commitment to building R56 billion worth of infrastructure across the country.

The DRC’s search for investors aims to accelerate the development of its untapped mineral wealth, with a focus on sharing the benefits widely. It presents an opportunity for international investors to collaborate with the country’s private sector.

The News24 Africa Desk, supported by the Hanns Seidel Foundation, is actively involved in bringing these stories to light. It’s important to note that the opinions and statements expressed in the articles produced by the Africa Desk do not necessarily reflect the views of the Hanns Seidel Foundation.

Rachel Adams

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