Congo, China deepen mining ties as US pushes rival minerals pact
Democratic Republic of Congo's President Felix Tshisekedi and Chinese President Xi Jinping attend a welcoming ceremony at the Great Hall of the People in Beijing, China May 26, 2023. PHOTO | REUTERS
Kinshasa. The Democratic Republic of Congo and China have signed an agreement to deepen cooperation in the mining sector, the Congolese government said, as global powers compete for influence in the strategically important minerals-rich nation.
The Democratic Republic of Congo is the world’s leading producer of cobalt and holds vast reserves of copper, lithium, coltan and other battery metals.
Chinese companies, including leading cobalt miner CMOC, as well as Zijin and Huayou, already dominate the sector, while Beijing remains Kinshasa’s largest bilateral creditor.
However, the United States and other countries seeking supplies of minerals critical for electric vehicle manufacturing and the energy transition are also courting the country.
Congo’s exports to China are set to benefit from duty-free access starting May 1 under an initiative covering 53 African countries.
According to a government statement published late Thursday, the new agreement provides for cooperation in geological data sharing, investment protection and the promotion of local processing of raw materials.
It also establishes a monitoring mechanism to ensure projects comply with Congolese law and are implemented in a stable and transparent investment environment.
A flagship iron ore project in northeastern Congo, known as MIFOR, will receive priority support from China.
Analysts say the move may draw attention from Washington. The Trump administration signed a strategic partnership with Congo in December to boost Western investment and reduce China’s dominance in critical minerals.
Despite this, the Congolese government appears to be balancing its partnerships as global competition for resources intensifies.