https://www.engineeringnews.co.za

Congo looks to lure more investment to tap green metals deposits

8th October 2021

By: Bloomberg

  

Font size: - +

The Democratic Republic of Congo (DRC) is working on ways to entice more investment into its mines as the green revolution boosts demand for metals used in sectors like rechargeable batteries.

The world’s largest producer of cobalt and Africa’s top copper miner is looking to tap more of its deposits, develop downstream operations and formalize artisanal mines to eliminate abusive laboUr practices, Prime Minister Jean-Michel Sama Lukonde said Thursday during the Financial Times Mining Summit.

While some of the biggest miners are moving into or expanding in commodities tied to more environmentally friendly industries, risky jurisdictions can deter investment. The DRC’s new government plans to make infrastructure improvements and tax changes to lure more companies after years of war and corruption kept many Western investors out, while also ensuring that enough of the mineral windfall benefits the local population.

Still, the government is reviewing mining contracts to ensure they adhere to 2018 changes in the code, the prime minister said. Authorities are in talks with the Chinese owners of the Sicomines copper and cobalt joint venture over infrastructure spending “adjustments,” he said.
 

Edited by Bloomberg

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Rentech
Rentech

Rentech provides renewable energy products and services to the local and selected African markets. Supplying inverters, lithium and lead-acid...

VISIT SHOWROOM 
VEGA Controls SA (Pty) Ltd
VEGA Controls SA (Pty) Ltd

For over 60 years, VEGA has provided industry-leading products for the measurement of level, density, weight and pressure. As the inventor of the...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.051 0.937s - 140pq - 2rq
Subscribe Now