MINING (215)
Tenke Fungurume Mining's "TFM-1" copper cathode brand has been officially registered on the London Metal Exchange (LME), Chinese mining group CMOC said in a March 27, 2026 statement. The accreditation means TFM products "can directly participate in global spot and futures markets for non-ferrous metals" and meet "world-class" standards for quality and production management.
The LME is the world’s main pricing platform for industrial metals. Brand registration allows products to be traded under standardized contracts and access international trading and financing networks. CMOC said the recognition "will enhance the tradability, competitiveness and pricing power" of TFM products on the global market.
The accreditation strengthens CMOC’s integration into global supply chains while reinforcing its position in the Democratic Republic of Congo’s mining sector. Through its subsidiaries TFM and Kisanfu, the group exported 747,468 metric tons of copper in 2025, according to provisional mining statistics—accounting for 22% of the country’s total exports.
In October 2025, CMOC’s board approved a $1.08 billion expansion project at the Kisanfu mine. The program aims to increase annual output by around 100,000 metric tons of copper, with construction expected to take two years and commissioning targeted for late 2027. Once completed, the group is expected to account for more than 30% of national production.
Kinshasa’s demands
The project comes as Kinshasa steps up pressure on major mining groups. At a meeting held March 25, 2026, in Beijing, Mines Minister Louis Watum Kabamba said the sector’s development rests on "three non-negotiable priorities: increasing production, respecting environmental standards and ensuring tangible benefits for the population."
The ministry is requiring CMOC to comply strictly with environmental, social and governance (ESG) standards, with its TFM subsidiary already under regulatory review following pollution allegations. Authorities are also pushing for compliance with Congolese law, particularly on local participation in subsidiary capital, improved living conditions for local communities, support for energy infrastructure, and assistance to artisanal mining zones.
CMOC said LME registration also involves responsible supply chain requirements. The group added that TFM achieved full compliance with the Copper Mark standard in October 2025. That certification, which covers 32 ESG criteria, contributed to meeting the LME’s responsible sourcing audit requirements.
However, LME certification and Copper Mark compliance address only part of Kinshasa’s expectations and do not resolve all concerns surrounding the group’s operations in the DRC.
Pierre Mukoko & Ronsard Luabeya
The Democratic Republic of Congo is moving to tighten oversight of Chinese investment in its mining sector. On March 26, Congolese Mining Minister Louis Watum Kabamba and his Chinese counterpart, Guan Zhi'ou, signed a memorandum of understanding on cooperation in geology and mineral resources in Beijing.
Kinshasa described the agreement as a “structured framework for cooperation” based on ongoing consultation, adherence to Congolese law, investment protection and in-country processing of natural resources.
The move signals a policy shift. Long dominated by largely unconstrained Chinese investment, Congo’s mining sector is now moving toward tighter regulation. The aim is to capture greater domestic value and secure higher economic returns as global demand for critical minerals, including cobalt, copper and lithium, continues to rise.
Between 2000 and 2022, China committed $23.7 billion in loans and grants to the DRC, according to U.S.-based research center AidData, making it the second-largest African recipient of Chinese financing. Loans accounted for 98% of the total. AidData also notes that the DRC is China’s largest bilateral development partner on the continent, well ahead of most traditional donors.
ESG risks
Kinshasa, however, is no longer willing to engage without safeguards. The Sicomines project served as a turning point. The venture, involving Chinese firms including China Railway, Sinohydro and Zhejiang Huayou, was designed to finance infrastructure through mining revenues. A 2023 audit by the Inspectorate General of Finance found that only about one-third of the $4.5 billion allocated to infrastructure had been disbursed, prompting a renegotiation of the agreement originally signed in 2008.
That process led to a fifth amendment signed in March 2024 under President Félix Tshisekedi. The revised deal is expected to channel nearly $5.5 billion in additional infrastructure spending between 2024 and 2040, provided international copper prices remain above $8,000 per metric ton. Disbursements could rise further if prices reach $12,000 per ton. The amendment also provides for a technical and financial audit covering the contract’s implementation since inception, launched in early March 2026.
Congolese authorities say the memorandum aligns with the strategic direction set during high-level talks in 2023 between Presidents Tshisekedi and Xi Jinping. It was signed, however, after the DRC concluded a separate strategic partnership with the United States focused on critical minerals, the Sakania-Lobito corridor, formalizing the artisanal mining sector and expanding local processing capacity. China is no longer the DRC’s only strategic partner for its resources.
Shortcomings in the previous model have also driven the shift. AidData estimates that 36% of China’s infrastructure portfolio in the DRC carries significant exposure to environmental, social and governance risks. More notably, only 5.5% of Chinese-financed infrastructure projects in the country included strong contractual ESG safeguards between 2000 and 2022, well below global levels.
Pierre Mukoko & Ronsard Luabeya
The Congolese subsidiary of Australia’s AVZ Minerals has lost one of its exploration permits in Manono territory, Tanganyika province, according to a list of forfeiture decisions published on March 19, 2026 by the Mining Registry (CAMI).
The permit, PR 4029, is held by AVZ Minerals Congo SARLU and covers 79 mining blocks. It was forfeited due to non-payment of annual surface fees.
Under the current mining code, the holder of a forfeited permit has 30 days from notification to file an appeal. AVZ Minerals has not publicly commented on the forfeiture of PR 4029 or indicated whether it plans to appeal.
PR 4029 is part of the Manono Extension Project, which AVZ has been developing around the main Manono lithium deposit. The project includes two exploration permits, PR 4029 and PR 4030, covering a combined area of about 242.25 square kilometres.
According to AVZ, the permits were intended to identify potential extensions of the deposit, particularly toward the southwest and northeast, based on geological indicators suggesting mineralization may extend beyond the known main zone.
The forfeiture comes amid an ongoing dispute over the Manono project. The two extension permits partly surround the area covered by mining permit PE 15775, awarded to Manono Lithium SAS, a joint venture between China’s Zijin Mining and state-owned Cominière.
AVZ continues to challenge, in proceedings before the International Centre for Settlement of Investment Disputes (ICSID), the loss of its rights over former permit PR 13359, which was later converted into mining permit PE 15775.
Despite the dispute, development of the Manono project by Zijin and Cominière is continuing. The partners are targeting commissioning by end-June 2026, with construction of mining and processing infrastructure ongoing. Investment in this first phase is approaching $1 billion.
Timothée Manoke
Congolese authorities have declared a radiological emergency at the T17 waste rock zone in Kolwezi, Lualaba province, after radioactive materials were discovered at a site where artisanal miners were operating.
In a statement released on March 23, 2026, Higher Education and Scientific Research Minister Sombo Ayanne Safi Mukuna Marie-Thérèse, acting as the country’s nuclear regulator, warned of a major risk to public health, national security and the environment.
According to multiple media reports, the decision followed uncontrolled artisanal mining activities that exposed radioactive substances, potentially affecting nearby populations and ecosystems. Authorities said the measure aims to contain contamination, secure the site and protect exposed communities.
The government announced the deployment of specialized teams on site, along with experts tasked with assessing risk levels and implementing decontamination, protection and monitoring systems. It stressed the need for a rapid and coordinated response to prevent the situation from deteriorating.
Health risks well documented
Exposure to radioactive materials poses well-documented health risks. Ionizing radiation can penetrate biological tissues, damage DNA and lead to severe health effects, including cellular damage and long-term diseases. Exposure may occur through inhalation of contaminated particles, ingestion or prolonged contact—scenarios common in artisanal mining environments.
The emergency declaration aligns with international risk management standards, particularly those promoted by the International Atomic Energy Agency (IAEA), which emphasize preparedness, detection and rapid response to radiological incidents.
Authorities said they would mobilize the necessary resources, ensure transparency and coordinate response efforts. They also urged the public to strictly follow safety instructions, warning that even localized radioactive contamination can pose serious risks if left uncontrolled.
Boaz Kabeya
In addition to producing 500,000 metric tons per year of 99.7% pure copper anodes, Kamoa Copper’s smelter can generate 700,000 metric tons of sulfuric acid annually, a byproduct that is gaining value in the Congolese Copperbelt amid conflict in the Middle East.
Sulfuric acid is a key input in the leaching process used to extract copper from oxide ores. A significant share of Congolese output, estimated at 3.5 million metric tons in 2025, relies on such deposits, particularly in Lualaba and Haut-Katanga provinces. The availability of this input directly affects production volumes and operating costs.
So far, most of the sulfuric acid used in the region has been produced from imported sulfur. According to Robert Friedland, executive co-chairman of Ivanhoe Mines, which holds a 39.6% stake in Kamoa Copper, up to 80% of the sulfur imported into the Copperbelt passes through the Strait of Hormuz, a corridor now disrupted by the conflict in the Middle East.
“Over the past week, we have begun to observe an increase in the price of acid in the Congolese Copperbelt due to the lack of sulfur exported from the Middle East via the Strait of Hormuz. If supply remains constrained, prices should continue to rise,” Friedland said in a March 23 post on X.
This makes the Kamoa Copper smelter more important. Unlike most operators, the project processes sulfide ore, which does not require sulfuric acid. The refining process also produces it as a byproduct. This allows Kamoa to avoid the constraint and become a key supplier to the rest of the sector.
Additional revenue
According to Friedland, the smelter currently produces 1,600 metric tons per day of high-concentration sulfuric acid, sold for between $470 and $500 per metric ton to mining operations in the Congolese Copperbelt. He described the price as competitive, noting that even before the outbreak of the war in the Middle East, sulfur prices had risen sharply in recent months due to global supply constraints, reaching between $500 and $600 per metric ton in January depending on the region.
The situation is also boosting the project’s profitability. At current price levels, sulfuric acid sales could generate more than $300 million in annual revenue. This additional stream complements copper production, which is expected to reach between 370,000 and 420,000 metric tons in 2026. The smelter also allows Kamoa Copper to nearly halve its logistics costs by exporting copper anodes rather than concentrate, according to company executives.
By contrast, most other operators in the Copperbelt are directly affected by the shock due to their reliance on sulfuric acid. Higher input costs are weighing on margins and widening competitive gaps within the sector.
More broadly, this highlights a structural issue for the Democratic Republic of Congo: securing the industrial inputs needed to develop its mining resources. As the country strengthens its position as a major global producer of copper and cobalt, control over these inputs is becoming critical to its resilience.
Pierre Mukoko
China Minmetals Corporation (CMC), the indirect majority shareholder of MMG, is seeking to acquire new mining permits in the Democratic Republic of Congo (DRC) after a March 24, 2026 meeting in Beijing with Mines Minister Louis Watum Kabamba.
Discussions focused on expanding the group’s operations in the country, the ministry said. China Minmetals also expressed interest in technical collaboration with the National Geological Service to accelerate the identification of new deposits.
During the meeting, the minister outlined the DRC’s strategic priorities, emphasizing geological research, local processing of mineral resources, job creation, and greater Congolese participation in the mining value chain.
The ministry said the meeting supports a model based on productive investment, local value addition, and the sustainable development of the mining sector.
Kinsevere central to CMC’s operations
In the DRC, the group’s main asset is the Kinsevere mine, operated by MMG, located about 30 km north of Lubumbashi in Haut-Katanga. Historically focused on copper production, the site has been expanded to include copper sulfide and cobalt processing.
Approved in March 2022, the project aimed for total investment of $550 million to $600 million, with a target annual output of 80,000 tonnes of copper cathode and 4,000 to 6,000 tonnes of cobalt at full capacity. As part of the project, $300 million in financing was secured in December 2023 from Top Create Resources Limited, an entity linked to CMC.
After mechanical completion of the expansion in September 2024, MMG targeted production of 63,000 to 69,000 tonnes of copper cathode at Kinsevere in 2025. The target was not met. According to MMG, the mine produced 52,791 tonnes of copper in 2025, an 18% increase year-on-year. This increase reflects the gradual ramp-up of the expansion.
Ronsard Luabeya
The Democratic Republic of Congo signed a geological data partnership agreement with the European Union on March 19 in Kinshasa. Congo's mines minister, Louis Watum, and the EU delegation's chargé d'affaires ad interim in the DRC, Fabrice Basile, signed the accord, under which the country will participate in PanAfGeo+ Invest, an EU-funded program aimed at strengthening geological services and subsurface data management across Africa.
In the DRC, the program will consolidate the national geoscientific database, preserve historical archives, carry out geological surveys across several provinces and conduct studies in selected artisanal mining areas. The objective is twofold: to improve knowledge of Congo's subsoil and to better guide investment decisions.
PanAfGeo+ Invest builds on the original PanAfGeo program, which ran from 2016 to 2024 and trained nearly 1,750 African geoscientists. Through the new program, the EU plans to invest 45 million euros across seven African countries between 2026 and 2029 to support technological capacity and geoscience development. The DRC will receive nearly 11 million euros, or roughly a quarter of the total funding.
BRGM's Coordinating Role
For the Bureau de recherches géologiques et minières (BRGM), which coordinates the program, the aim is to support projects aligned with European partners’ priorities. In that context, the EU announced on March 19 an additional 6 million euros to complete the digitization of geological archives held at the Royal Museum for Central Africa in Tervuren, Belgium. The digitization project, which began in 2023, is one of the reasons Brussels has cited for opposing a separate digitization contract the DRC awarded to American company KoBold Metals covering the same archives.
The fate of the KoBold Metals contract remains unclear. "The country’s subsoil is part of its national heritage. All partners who help us better understand this heritage are welcome. We will work with them," mines minister Watum said.
These developments expand the EU’s access to geological data in the DRC, which has become a strategic lever in the international competition for critical minerals. Earlier this year, Spanish company Xcalibur also secured a $298 million contract for airborne geophysical mapping and geological survey work across the DRC.
Boaz Kabeya
The Democratic Republic of Congo’s Ministry of Mines said on March 18, 2026, it had deployed a joint inspection mission to the Tenke Fungurume Mining (TFM) site, a subsidiary of China Molybdenum Company (CMOC), following allegations of air pollution affecting communities in Lualaba province.
The decision followed a report by the Environmental Investigation Agency (EIA) citing deteriorating air quality around the mine.
The ministry said the allegations are, at this stage, largely based on unverified claims that have not been confirmed through scientific and technical methods.
The mission will conduct in-depth technical assessments, including air quality monitoring, checks on industrial discharge compliance, and verification of adherence to environmental and social standards. A report is expected at the end of the investigation and could lead to administrative, environmental or judicial action.
The decision to deploy the mission was made during a consultation meeting with TFM executives on March 18. The company was also asked to provide evidence of compliance with its environmental obligations.
EIA report focuses on processing plant
The EIA report focuses primarily on TFM’s processing plant, known as 30K, where CMOC converts copper-cobalt ore into cobalt hydroxide.
The plant, the largest of its kind globally, was commissioned in 2023. Since then, the report says, elevated sulfur dioxide levels have been recorded in the area, along with a rise in respiratory illnesses.
The NGO said its findings are based on an analysis of more than 1,200 medical records, citing cases of coughs, bronchitis and pneumonia among nearby residents and some workers. TFM disputes the findings and rejects any link between its operations and the reported health problems.
The inspection comes as authorities step up environmental oversight in DR Congo’s mining sector. In January 2026, they required mining companies to provide proof that financial guarantees for site rehabilitation had been secured and to submit approved environmental plans.
CMOC is one of the leading mining operators in DR Congo. Through its subsidiaries TFM and Kisanfu, the group exported 747,468 metric tons of copper in 2025, according to provisional data, accounting for 22% of the country’s total exports.
The company is also a major cobalt producer. Before the 2025 embargo, it exported nearly 96,000 metric tons of cobalt, representing about 50% of national output.
Ronsard Luabeya
MCC Resources, a gold mining company operating in Ituri province in the Democratic Republic of Congo, has suspended operations at its Muchacha and Mavuvu sites in Mambasa territory following an armed attack on the night of March 11-12, 2026.
In a statement reported by local media, the company said it halted operations on March 12 until further notice after armed assailants breached the mine’s security perimeter. The attack led to looting and sabotage of the company’s facilities. MCC Resources said no casualties were reported at its sites, noting that it had evacuated personnel weeks before the incident as a precaution.
In a communiqué issued on March 15, 2026, the Congolese government strongly condemned the attack on the Muchacha mining sites. Authorities said the assault, attributed to the ADF and claimed by the Islamic State group, killed several people, sparked fires at the site and displaced civilian populations.
MCC Resources said it is closely monitoring the security situation before deciding whether to gradually resume operations. The company is among the gold miners operating in this part of Ituri. According to provisional 2025 mining statistics, it produced 168.47 kilograms of gold.
Muchacha, a key gold-producing area, has repeatedly faced incursions by armed groups. In August 2016, the locality was hit by an attack attributed to the Mai-Mai Simba that killed three people and led to several kidnappings. More recently, in January 2026, attacks attributed to the ADF in the Walese Vonkutu chieftaincy in Irumu territory killed at least 25 civilians, highlighting the persistent insecurity in the province.
Ronsard Luabeya
The Democratic Republic of Congo officially launched its first pilot gold refinery in Kalemie, in Tanganyika province, on March 11, 2026. The facility, called DRC Gold Refinery, was set up through a partnership between state-owned company DRC Gold Trading and Lunga Mining, which is active in gold exploration and development in Maniema and Tanganyika provinces, the Ministry of Mines said in a statement on March 11, citing records from the Mining Registry (CAMI).
The refinery has an estimated production capacity of between 500 and 600 kilograms of gold per month, according to the ministry. The facility is described as handling the full chain from gold purchasing to refining and ingot production. Mines Minister Louis Watum Kabamba also said the unit should enable the DRC to export refined gold at 99.9% purity. The figures were provided by the ministry in official communications on the project.
The initiative is part of DRC Gold Trading's strategy to formalize artisanal gold trading. Authorities say the objective is to reduce losses linked to fraud and smuggling while increasing the share of value captured locally. For 2026, DRC Gold Trading aims to export between 15 and 18 metric tons of artisanal gold, as the government seeks to increase foreign currency inflows and improve traceability of gold from artisanal mining operations.
The Kalemie launch is not the DRC's first attempt at gold refining. In July 2023, Congo Gold Raffinerie, based in Bukavu, had its license revoked by the Ministry of Mines before it began operations. The official decision cited failure to meet social obligations, particularly those related to corporate social responsibility requirements. At the time, Congo Gold Raffinerie said it had planned to refine around 100 kilograms of gold at its Bukavu plant.
Ronsard Luabeya
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(AML HOLDINGS LLC) - AML Holdings LLC announced the termination of the Memorandum of Understanding entered into with Kerith Resources SARL dated 28 June 2025 in relation to the proposed joint venture manganese mining initiative in Kongo Central province, DRC with Kerith Resources SARL with effect from 2nd February 2026.
AML Holdings LLC announced the termination of the Memorandum of Understanding entered into with Kerith Resources SARL dated 28 June 2025 in relation to the proposed joint venture manganese mining initiative in Kongo Central province, DRC with Kerith Resources SARL with effect from 2nd February 2026.
The decision follows extensive negotiations on the draft Shareholders’ Agreement and a thorough assessment of the project's legal and operational framework. Despite dedicated efforts since the conclusion of TICAD 9 to identify a legally robust pathway for licensing, and multiple engagements with Kerith Resources SARL, mutually acceptable terms could not be reached due to discrepancies in the approach to obtaining the mining permits and misalignments on shareholders’ rights and responsibilities.
AML Holdings LLC remains committed to responsible investment in the critical minerals sector if there are any potential opportunities and wishes Kerith Resources SARL success in its future endeavors.
Any other public announcements made in connection with AML's investment in the DRC may not be accurate or complete. The Company shall not be held responsible and expressly disclaims any liability for them.
The Democratic Republic of Congo (DRC) has entered a new phase in the management of its infrastructure-for-minerals cooperation program with a group of Chinese companies. The Regulatory Agency for the Monitoring and Coordination of Collaboration Agreements (APCSC) announced on March 5, 2026, the signing of contracts to launch a technical and financial audit of the program.
The audit will examine the implementation of the project from its launch in April 2008 to the signing of its most recent amendment in March 2024. The Chinese consortium involved includes China Railway, Sinohydro and Zhejiang Huayou.
To implement the project, the parties created the Sino-Congolese Mines joint venture, known as Sicomines (SCM). The Chinese consortium holds a 68% stake, while the state-owned mining company Gécamines owns 32%. Sicomines is responsible for developing and mining copper and cobalt at the PE 9681 and PE 9682 permits in Mutshatsha, in Lualaba province, to finance infrastructure projects. Authorities also plan to certify the mineral resources associated with these permits.
The technical and financial audit has been awarded to the ATF-PCSC/Mayer Brown consortium, while SRK Consulting will carry out the certification mission. Little information is available about ATF-PCSC. Mayer Brown is an international law firm advising on infrastructure projects, particularly in the energy and natural resources sectors. SRK Consulting describes itself as an independent international consultancy specializing in mining, geology, water and environmental services.
According to the APCSC, the audit will examine how mobilized resources were used, assess the implementation of contractual commitments, and determine whether the project has been carried out in accordance with the cooperation agreement and its amendments. The review will cover several areas, including mining, finance, technical and infrastructure components, legal and contractual issues, as well as environmental and sustainability aspects. The agency said the findings should provide a detailed assessment of the project's implementation and offer recommendations to improve governance and performance.
$1.5 billion for infrastructure
The Sino-Congolese program has faced criticism on several fronts since its launch in 2008, including concerns over the transparency of loans, mining and infrastructure investments, and the revenues generated by Sicomines. Critics have also pointed to the absence of competitive bidding and the risk of inflated construction costs. The March 2024 amendment provided for a technical and financial audit to clarify these issues.
The amendment states that, at the time it was signed, $1.5 billion had already been borrowed for infrastructure, including principal and interest. This figure includes $300 million that had previously remained undisbursed before being made available after the amendment, as well as “all costs or expenses accepted by the parties.” According to a progress report presented in September 2025 by the Congolese Agency for Great Works (ACGT), only $1.277 billion is actually expected to be allocated to infrastructure projects.
However, the amount and purpose of other costs or expenses remain unclear. In a report published in January 2026, the U.S. research center AidData revealed that Sicomines granted loans totaling $82 million to Gécamines, though the interest rates were not specified. The cost of debt contracted from Eximbank China is known to fluctuate, as the interest rate is indexed to international market rates plus 1%. The debt is to be repaid over 25 years, including a 10-year grace period.
Information on completed infrastructure projects and their costs remains limited. In its July 2024 report, the International Monetary Fund (IMF) said that only $888 million in infrastructure loans had been disbursed by 2022, but data on project execution were scarce. IMF staff said they did not know how projects were selected or whether their implementation aligned with initial cost projections.
$9 billion in debt
While the agreement originally planned for a $3.2 billion loan to finance mining investments, AidData reports that Sicomines contracted $7.61 billion in debt between 2008 and 2020 to develop the mine. The first Eximbank China loan, granted in 2008 for $2.13 billion, carries a fixed interest rate of 6.1%, a 25-year maturity and a six-year grace period. The second loan, granted in 2013 for $2.61 billion, has a floating interest rate indexed to international market rates plus 3%, with a 25-year maturity and a 10-year grace period.
The first shareholder loan from the Chinese consortium in 2008 amounted to $1.07 billion and is interest-free. The second, valued at $1.77 billion, carries a floating interest rate indexed to international market rates plus 2.7%.
Over the period covered by the audit, the Sicomines joint venture reportedly contracted nearly $9 billion in total debt to finance infrastructure and develop its copper-cobalt mine. Under the cooperation agreement signed between the DRC and the Chinese companies, mining revenues must first be used to repay these loans, with the remaining funds then distributed as dividends.
The Sicomines mine began production in 2015 and reached full capacity in 2024, exporting 246,000 tonnes of copper. However, AidData reports defaults on loans used to develop the mine, although it did not provide a comprehensive assessment. Regarding the debt allocated to infrastructure, which must be repaid first, the research center said Sicomines had repaid $441.1 million by the end of 2020. As of December 31, 2021, the remaining balance on that loan stood at $658.78 million.
The audit results are expected to clarify the project's actual debt level and the share of revenues already used for repayment. These elements directly affect key provisions of the 2024 amendment, including the distribution of Sicomines’ capital and the payment of royalties and dividends. The amendment stipulates that the shareholding structure will remain unchanged and that royalties paid to Gécamines will be capped at 1.2% of turnover until all loans linked to the cooperation project, including principal and interest, are fully repaid.
The amendment also makes any new decisions regarding the project’s development conditional on the results of the technical and financial audit, the full certification of mineral resources, and the approval of an updated feasibility study.
Pierre Mukoko & Boaz Kabeya
The industrial transformation of the Rubaya coltan mine in Masisi territory, North Kivu, would require an investment of between $50 million and $150 million. Reuters reported that this estimate appears in an initial list of 25 assets offered to American investors as part of a strategic critical minerals partnership signed between the Democratic Republic of Congo (DRC) and the United States on Dec. 4.
The document says the investments would accelerate commercial-scale production. A rapid return on investment is expected due to strong global demand for tantalum, a strategic metal extracted from coltan.
Congolese authorities say the Rubaya mine is of particular interest to Washington, reflecting U.S. efforts to secure Western supply chains for critical materials used in electronics, energy and defense industries. The site is widely described as one of the world’s most important coltan deposits.
It accounts for roughly 15% of global coltan production, with tantalum grades ranging between 20% and 40%.
Under the agreement between Kinshasa and Washington, American companies have a right of first offer on the selected assets. Even before the agreement was signed, Western groups had already expressed interest in the site.
Bloomberg reported that Swiss trader Mercuria Energy Group and investment firm TechMet are considering plans to develop and modernize the tantalum deposit near Rubaya. TechMet is backed by the U.S. International Development Finance Corporation (DFC).
The Financial Times has also reported interest from Texan businessman Gentry Beach through his company America First Global. Beach is described as being close to Donald Trump.
Zone under occupation
Despite its strategic importance, mining at the site remains largely artisanal and informal. These conditions frequently lead to deadly accidents.
In a statement published on March 4, 2026, the Congolese Ministry of Mines reported that a landslide occurred on March 3 at the Rubaya mining sites following heavy rains. Authorities said the provisional death toll exceeded 200 people, including around 70 children. Many injured were evacuated to health facilities in Goma.
Similar casualty figures had already been reported after landslides at the mine in late January.
In this context, industrializing the site is seen as a way to improve safety and reduce human risks by gradually replacing artisanal mining with more regulated operations. However, the project depends on improvements in the security situation.
Since April 2024, the Rubaya area has been under the control of the AFC/M23 rebel movement, which is supported by Rwanda. United Nations experts say some minerals extracted in the region are smuggled into Rwanda. The armed group reportedly earns around $800,000 per month by taxing mining activities.
“The development of sites located in occupied zones depends on the withdrawal of Rwandan troops, as provided for in the DRC-Rwanda peace agreement concluded in June 2025,” Daniel Mukoko Samba told Jeune Afrique in February.
Mukoko Samba is the Congolese vice-prime minister in charge of the economy and a signatory to the strategic agreement with the United States.
Aware of the situation, Washington has increased pressure on Kigali. The U.S. Treasury announced a new series of sanctions on March 2, 2026 targeting the Rwanda Defence Force (RDF) and four senior military officials.
In 2025, the United States had already sanctioned the armed group PARECO-FF, the Cooperative of Mining Artisans of Congo (CDMC), and the Chinese companies East Rise Corporation and Star Dragon Corporation for alleged involvement in the illegal trade of minerals from the Rubaya sites.
Dispute over the permit
“We are not the perpetrators, but the primary victims,” the CDMC said in response. The company also accused certain Congolese officials of leading a coordinated effort to undermine its ownership of the Rubaya mining permit with support from opaque diplomatic and financial channels.
Congolese mining registries indicate that the state-owned company Société Aurifère du Kivu et du Maniema (SAKIMA) holds the permit covering the Rubaya area. However, these rights are contested by the CDMC.
The company argues that the concession belongs to its subsidiary Congo Fair Mining (CFM), a joint venture formed with SAKIMA in which the state firm holds a 30% stake.
This claim is supported by rulings issued on April 30 and September 4, 2025 by the Council of State, the country’s highest administrative court.
The joint venture creating CFM was signed in 2020 between SAKIMA and the CDMC. It provided for the transfer of the Rubaya exploitation permit from the public enterprise to CFM. The transfer agreement was reportedly signed on March 11, 2021, leading to the registration of the permit transfer in the Mining Registry on May 20, 2022.
Mining Minister Louis Watum Kabamba told Bloomberg in October 2025 that he planned to bring the parties together to discuss the dispute. It remains unclear whether the meeting has taken place.
However, Kinshasa has already included the Rubaya coltan deposit among the strategic mining assets offered to American investors. The government now faces two key challenges: securing the site and resolving legal disputes to enable industrial development.
Pierre Mukoko & Timothée Manoke
Prime Minister Judith Suminwa Tuluka received officials from the Congolese Battery Council (CCB) and the International Trade Centre (ITC) on Feb. 24, 2026. The meeting focused on a strategic partnership to develop local value chains for battery minerals, according to an official statement issued afterward.
The initiative seeks technical support from the ITC and access to its international network to advance local processing by identifying public-private partnerships and target markets. Officials describe the project as cross-cutting, mobilizing the energy, mining, industry, infrastructure and trade sectors.
Against that backdrop, Kinshasa is seeking to narrow the gap between its mineral resources and end markets. The involvement of the ITC, a U.N. agency specializing in trade support and the integration of developing countries into global value chains, suggests an approach focused on market access, standards and international partnerships, at a time when the battery strategy has yet to translate into finalized industrial investments.
Interministerial Coordination Challenges
In March 2025, then-Industry and SME Development Minister Louis Watum Kabamba launched construction at the Musompo Special Economic Zone (SEZ) in Lualaba province. The zone is intended to host activities ranging from precursor materials to battery production, with a possible extension into assembly. It covers more than 900 hectares. Construction costs are estimated at over $200 million, and roughly $2 billion in private investment has been targeted, with projections of 25,000 direct jobs and 60,000 indirect jobs.
Progress has been slow. In November 2025, at the Makutano forum, the chief executive of Arise IIP, a developer involved in several SEZs in the Democratic Republic of Congo including Musompo, expressed concern about a slowdown in the project. “The project seems to have slowed following the minister’s departure from the Industry Ministry in August,” said Romain Deniel.
Deniel noted that establishing a special economic zone “requires the involvement of four, five, sometimes six ministries” and therefore demands “significant coordination.” He added that beyond the administrative framework, the battery value chain is a “very strategic” segment that also requires the buy-in of existing operators, given the project’s potential to affect the structure of the value chain.
The ITC Lever
Taken together, these developments highlight a central issue: local processing depends not only on political will or technical studies, but on the state’s ability to sustain stable interministerial coordination across mining, energy, industry, finance and infrastructure, while navigating a mining sector already structured around export chains and dominant players. The trade-offs extend beyond tax incentives to energy and infrastructure access, local content requirements, supply conditions and the role of incumbent operators in the future industrial model.
In that context, the announced cooperation with the ITC represents a complementary lever. While industrial projects are still building momentum, Kinshasa is seeking to secure another critical link, namely market access and partnerships. The ITC could help clarify export channels, standards and traceability requirements, identify industrial or financial partners, and structure value chains aligned with international market expectations. The challenge for the DRC is to prevent the battery strategy from remaining limited to industrial zone announcements and to translate it into concrete commercial and industrial projects.
One major question remains unanswered: the operational substance of the partnership. The official statement refers to technical support and access to the ITC’s international network, but provides no timeline, deliverables, volumes or target industrial segments, whether refining, precursors, components or assembly.
Pierre Mukoko & Boaz Kabeya