$1.9 Billion Mining pact Ratified by the Democratic Republic of Congo and UAE for the Construction of Industrial Mines in South Kivu and Maniema

By Abdul Rahman Bangura-

Photo Credit: Twitter

NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone– Congolese President Felix Tshisekedi’s office noted on that an Emirati administration committee had approved an agreement worth $1.9 billion with Societe Aurifere du Kivu et du Maniema (Sakima) in the capital Kinshasa.

According to sources, this undertaking would see the “construction of more than 4 industrial mines” in the provinces of South Kivu and Maniema. Congolese parastatal Sakima has mining acquiescence’s comprising tin, tantalum, tungsten and gold in the volatile east of the nation. The announcement conveyed no other facts about the pact, involving the type of minerals that would be extracted.

The recent bargain succeeds after the DRC ratified a 25-year deal in December 2022 with UAE firm Primera Group over export rights for some artisanally mined ores. The contract awarded Primera Group a majority stake in two joint ventures, Primera Gold and Primera Metals. Primera Gold and Primera Metals obtained preferential export rates for artisanally mined gold, and artisanally mined coltan and tin, tantalum, and tungsten — the so-called 3T metals — respectively.

The DRC has lauded the enterprise as a way to curb mineral bootlegging and ensure a better livelihood for informal miners. Militias have beset Eastern DRC for decades, maintained in part through trading illegal minerals.

Primera Gold began operations in South Kivu through January, and by May had ferried one tonne of certified gold, according to the Congolese Finance Ministry.

For New Africa Business News (NABN) Abdul Rahman Bangura Reports,  Africa Correspondent