Last week at the China Mining Forum, François Balumuene, the Democratic Republic of Congo's (DRC) ambassador to China, invited investors to contribute to the local production and processing of resources, not just extraction.

"We have highlighted all our country's mining potential to encourage investors to come not just to extract, but above all to produce, transform, and go as far as possible toward the finished product. This message aims to raise awareness because we are no longer a simple mining community," Balumuene said, stressing the need to create more value for the Congolese people.

The diplomat’s words echo Julien Paluku’s, the Congolese Minister of Foreign Trade.  On October 17, speaking at the 10th Rebranding Africa Forum in Brussels, Belgium, Paluku referenced a 2021 BloombergNEF report showing that investing in processing minerals like cobalt and copper in the DRC is more cost-effective.

According to the report, "building a 10,000-ton cathode precursor plant in the DRC would require an investment of $39 million. This is three times less than the cost of a similar plant in the USA. The same plant in China and Poland would cost $112 million and $65 million, respectively."

The DRC is also looking to attract investors for lithium battery production. During a recent visit to Hungary, President Félix Tshisekedi was accompanied by the Managing Director of Congo Battery, highlighting the government's interest in this sector. Hungary, one of Europe’s largest battery producers, could help establish this industry in the DRC.

The recent declarations align with the government’s ambition to leverage the DRC’s position as a leading producer of strategic minerals essential for energy transition. Ultimately, the goal is to build a strong local industry that can compete with major processing countries like China.

In his recent speech, Balumuene clearly relayed this ambition of the DRC to process its mineral resources locally, to ensure that the Congolese people benefit directly.

Georges Auréole Bamba