The Democratic Republic of Congo (DRC) is working to finalize a significant minerals deal with the United States by the end of June. Top Congress officials have expressed optimism about the agreement, according to a Financial Times report.
The deal aims to boost U.S. investment in the DRC’s critical minerals sector and garner American support in tackling a Rwandan-backed billionaire in eastern Congo.
Furthermore, the agreement could pave the way for a peace deal with Rwanda, potentially legitimizing the export of Congolese minerals such as tin, tantalum, and tungsten to Rwanda for processing. These critical minerals have long been a source of conflict, with Kinshasa accusing Rwanda of illegal exploitation.
DRC has vast reserves of natural resources, including cobalt, lithium, and coltan. It holds approximately 70% and 60% of the world’s cobalt and lithium reserves, positioning the country as a key area of international attention.
Congo’s Mines Minister, Kizito Pakabomba, emphasized that a deal with the United States would help diversify their partnership and reduce the country’s heavy reliance on China for its vast mineral wealth. China has a significant presence in the DRC’s mineral sector. For instance, Chinese state-owned firms hold 80% of the country’s cobalt output.
The development is seen as part of the U.S. latest effort to reassert itself in Congo’s mining industry and bolster critical mineral supply chain chains, which are vital for modern technologies and renewable energy. While there is strong optimism for these deals to be finalized by the end of June, reports also indicate potential obstacles and substantial challenges in the negotiations.
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