News (898)
The Democratic Republic of Congo is considering changes to domestic fuel prices as the war in the Middle East continues to disrupt global oil markets.
The move follows a meeting on Thursday, April 2, between Prime Minister Judith Suminwa Tuluka, Minister of State for Hydrocarbons Acacia Bandubola and National Economy Minister Daniel Mukoko Samba.
After the meeting, Mukoko Samba said the government was closely monitoring fuel supply conditions amid severe global disruption.
“We must take all necessary steps to ensure continued access to the petroleum products we need and maintain supply,” he said. “That may require adjusting fuel prices to align with global trends.”
He added that the government also aims to preserve domestic market stability. “Across the region, fuel prices are rising,” he said.
The statement comes as authorities try to balance supply security with protecting consumers. As early as March, the prime minister ordered temporary measures to cushion the impact of external shocks.
These include cuts to certain taxes, the suspension of some border levies and steps to ensure steady imports. The aim is to limit the impact of rising global prices at the pump while maintaining fuel deliveries to the domestic market.
Mining firms already paying market rates
Some adjustments have already been implemented. On March 17, 2026, the Fuel Price Monitoring Committee approved a new pricing structure in the southern zone for mining companies and their subcontractors, which do not benefit from subsidies.
In that zone, diesel prices rose from $1.70 to $2.43 per litre, an increase of nearly 43%, while gasoline prices increased from $1.60 to $2.08, up 30%.
These operators now buy fuel at market rates, as international benchmarks have surged. Brent crude has hovered around $100 per barrel since the start of the year, compared with $60 to $70 before the conflict.
Across the region, several countries are facing similar pressures. In Zambia, authorities declared a fuel supply emergency and temporarily suspended some import taxes on petroleum products to limit price increases.
In Kenya, another key supply route for eastern DRC, officials have reported low fuel stocks. Nairobi is considering using its stabilization fund to absorb expected price increases, though any intervention is likely to be temporary.
In South Africa, rising global prices and higher transport costs are also adding pressure to the fuel market, reflecting broader regional volatility.
Against this backdrop, Kinshasa appears to be taking a cautious approach to price adjustments to avoid supply disruptions without triggering a sharp shock to the domestic market.
For now, the government has not announced an immediate, across-the-board increase in pump prices. But the signal is clear: if international tensions persist, fuel price increases in the DRC are increasingly likely.
Timothée Manoke
The Democratic Republic of Congo exported more than 28.2 metric tons of gold in 2025, little changed from 27.93 tons in 2024, according to data from the Cellule technique de coordination et de planification minière (CTCPM).
Flat export volumes contrasted with a sharp rise in revenue. The value of gold exports reached $2.84 billion in 2025, up from $1.53 billion in 2024, an increase of about 85.6%, driven by higher international gold prices.
The average annual gold price rose 44% to $110,280 per kilogram in 2025, according to the World Gold Council, which cited strong demand and a geopolitical and financial environment supportive of the metal.
Artisanal gold exports rose to 2,834.72 kilograms in 2025 from 1,755.82 kilograms in 2024, an increase of around 61.4%. This came despite the fall of Bukavu to M23 rebels, previously the country’s main artisanal gold export hub.
To compensate, the state-owned gold marketing company set up offices across the country in 2025, helping sustain export flows.
The Kibali Gold Mine, operated by Barrick Mining, also reflects the effect of higher prices. The industrial mine generated an estimated $2.3 billion in revenue in 2025, up 40% year on year, even as production fell 2% to about 673,000 ounces, below its annual target of at least 688,000 ounces.
Barrick attributed the shortfall to lower ore grades and reduced output from its richest underground zones. A fatal incident in the fourth quarter also led to a temporary suspension of some operations, weighing on year-end output.
There is a discrepancy of more than four metric tons between two sets of figures. The CTCPM reported Kibali’s 2025 output at more than 25 metric tons, while Barrick reported 673,333 ounces, or about 21 metric tons.
The CTCPM has acknowledged limits in its data collection. Its figures are based on company declarations and administrative reconciliations, while Barrick’s data are reported under international financial reporting standards, which may partly explain the gap.
Timothée Manoke
The Democratic Republic of Congo is targeting foreign exchange reserves equivalent to at least three months of import cover by 2027 under its program with the International Monetary Fund. A memorandum by the authorities, included in a report published in January 2026, says reaching this goal requires accumulating about $1.5 billion per year.
The World Bank said in a March 2026 report that reserves rose from $6.2 billion at end-2024 to $7.9 billion at end-2025, equivalent to just over 2.5 months of import cover. The IMF said reserves “continued to increase [...] but remain below the recommended adequacy level.”
This trend reflects a broader improvement in the country’s external position. The IMF said higher copper export volumes and favourable prices helped improve the current account in 2025, despite a temporary suspension of cobalt exports. The current account deficit narrowed to around 3.6% of GDP in 2025, from 4.2% in 2024.
The IMF expects this trend to continue. Reserves are forecast to reach about 12.8 weeks of import cover in 2026 and nearly 13 weeks in 2027, bringing them closer to the three-month threshold.
Middle East war
The outlook remains dependent on global conditions. The IMF warned that it is still exposed to commodity price volatility and external shocks. In an analysis published in March 2026, the Fund said tensions in the Middle East are starting to affect global markets, particularly through “rising energy prices and transportation costs.”
Since the start of the year, gas prices have nearly doubled to around $60, while Brent crude has traded at about $100 per barrel, compared with an average of $60 to $70 before the conflict.
These developments could weigh on net fuel-importing countries. For DR Congo, this is a significant vulnerability. The country relies entirely on imports for petroleum products. A sustained rise in oil prices could increase the import bill and slow reserve accumulation by offsetting gains from the improved current account.
Beyond their accounting role, foreign exchange reserves play a central role in DR Congo: they finance imports, help absorb external shocks and support the stability of the Congolese franc in an economy heavily dependent on mining exports.
Pierre Mukoko & Boaz Kabeya
The Democratic Republic of Congo, Tanzania and Burundi are advancing a proposed electrified standard-gauge railway linking Uvinza, Musongati, Gitega, Bujumbura, Uvira and Kindu.
On March 31, 2026, the three countries’ transport ministers met in Kinshasa to review progress on feasibility work for the corridor, which spans more than 800 km, according to the Congolese Ministry of Transport. The meeting was chaired by Deputy Prime Minister and Transport Minister Jean-Pierre Bemba.
The project is being developed under the Central Corridor framework by the Central Corridor Transit Transport Facilitation Agency (CCTTFA), which has coordinated studies and the institutional framework of the regional rail corridor for several years. In March 2023, the agency announced the signing of a feasibility study and preliminary design contract for the Gitega-Bujumbura-Uvira-Kindu segment, awarded to a consortium of CPCS and Zutari on behalf of Burundi and the DRC.
The corridor is expected to reduce transport costs, facilitate the movement of people and goods, and better integrate landlocked countries in the Great Lakes region with the port of Dar es Salaam. It is also seen as supporting the energy transition, as electrified rail produces fewer greenhouse gas emissions than road transport.
Technical progress on the Burundi-DRC segment
On the Burundi-DRC segment, technical studies reached a milestone in November 2025 in Kindu, where six reports were presented to the steering committee. The documents covered traffic demand, railway operations, signalling, telecommunications and energy systems. The studies also defined a preliminary alignment for the Congolese section, running from Nyamoma through Sange, Luberizi, Nyangezi, Walungu, Mwenga, Kamituga, Kalole and Pangi before reaching Kindu. Extensions toward Uvira, Bukavu and Shabunda are also under consideration.
The final cost of the Congolese and Burundian segments has yet to be determined and will depend on ongoing studies. The Uvinza-Musongati section, on the Tanzanian and Burundian side, is further advanced, with several sources estimating costs at around $2.15 billion and pointing to expected support from the African Development Bank. Estimates nonetheless vary on key technical parameters, including the exact length of the segment and the construction timeline.
The project is progressing in phases. The Tanzania-Burundi segment is further advanced, while the Burundi-DRC section remains at the feasibility stage. The Kinshasa meeting reaffirmed the three countries’ commitment to move the project forward, which they see as a key regional connectivity project.
Ronsard Luabeya
Telecom tower operator Helios Towers on Tuesday announced a $100 million expansion program to extend its network coverage in the Democratic Republic of Congo (DRC), aiming to improve access to telecommunications services, particularly in underserved areas.
The National Investment Promotion Agency (ANAPI) is backing the program under an agreement signed with Helios Towers DRC. The agency said it supports investment through an integrated framework covering all stages of a project, from design to implementation.
According to ANAPI, the expansion will span 23 provinces, including Kinshasa, Haut-Katanga, Kongo Central, Maniema, Ituri, Kasai Central, Kasai Oriental, Nord-Kivu, Sud-Kivu, Lualaba, Tanganyika, Equateur, Haut-Uele and Kasai.
Improving coverage and service adoption
The move comes as authorities seek to expand network coverage and boost telecom service adoption as part of their digital transformation agenda. In 2024, 2G, 3G and 4G networks covered 75%, 55% and 45% of the population respectively, according to the International Telecommunication Union (ITU). Mobile penetration stood at 44.3%, compared with 19.7% for internet use.
The company did not disclose detailed figures for the investment. Helios Towers operates by building, acquiring and managing shared telecom towers that host multiple operators. It provides passive infrastructure and energy services, including site acquisition, construction, maintenance, security and power management.
“Our infrastructure-sharing model helps MNOs expand and densify networks more quickly and at lower cost, while reducing emissions - accelerating digital inclusion for millions of people,” the company says on its website.
Expanding network coverage can drive adoption by improving both access and service quality. Extending infrastructure into rural and underserved areas enables first-time access to voice and internet services, while densifying networks in existing areas reduces congestion and improves reliability.
A model at the core of public strategy
The model is also supported by Congolese authorities and sits at the centre of the Universal Service Development Fund’s (FDSU) 2026-2035 strategy. Known as “TowerCo Lead,” the approach promotes tower companies that finance and deploy passive infrastructure — including towers, energy and backhaul — on an open-access basis. Mobile operators then install active equipment to deliver services. The goal is to connect nearly 68 million people, mainly in rural areas.
Authorities favour this approach for its economic efficiency, given the scale of the digital divide. According to the GSMA, the DRC has one of the world’s largest coverage gaps: 46% of the population lacks mobile broadband access, while 25% have no mobile coverage at all, including 2G.
The GSMA notes that expanding into so-called “white zones” requires sharply higher investment. Increasing coverage from 75% to 80% of the population requires about 150 new sites. Reaching 95% would require nearly 5,700 sites, while moving from 98% to 99% would need more than 2,000 additional sites. This makes extending coverage to remote areas particularly costly due to low population density.
Ivanhoe Mines has cut production forecasts again for the Kamoa-Kakula copper complex in southern Democratic Republic of Congo, citing updated results from an independent study.
The company said on March 31, 2026, it now expects output of 290,000 to 330,000 tonnes of copper in 2026, down from a previous target of 380,000 to 420,000 tonnes.
For 2027, forecasts have been lowered to 380,000 to 420,000 tonnes from 500,000 to 540,000 tonnes. The 500,000-tonne annual threshold, initially targeted for 2027, has been pushed back to 2028.
The revision follows a downgrade announced after a seismic event in May 2025. In its full-year results published on Feb. 18, 2026, Ivanhoe had maintained guidance of 380,000 to 420,000 tonnes for 2026 and 500,000 to 540,000 tonnes for 2027, while noting a new mine life plan would incorporate technical parameters adopted since the seismic event and the subsequent recovery plan.
The company attributed the latest cut to a more cautious operating approach. A March 31 report said new mining layouts at Kamoa and Kakula require a longer period of preparatory work to support a more sustainable extraction rate. Development over the next two years will focus primarily on Kakula before new extraction zones are brought online.
Ivanhoe also said underground development has fallen short of expectations due to unfavorable geotechnical and hydrological conditions, prompting the company to cut development targets by about 15%.
“Although conservative base-case assumptions are impacting production levels in 2026 and 2027, we are positioning Kamoa-Kakula to achieve new records from 2028 onwards,” said Marna Cloete, Ivanhoe Mines’ president and chief executive officer.
Higher Costs Expected
The revised outlook also affects cost projections. In February, Ivanhoe forecast direct cash costs of about $4,850 to $5,510 per tonne in 2026 and $4,190 to $5,070 per tonne in 2027. It now expects costs of about $5,730 to $6,610 per tonne in 2026, easing to $4,630 to $5,510 per tonne in 2027. The long-term target is set at about $4,410 per tonne from 2028.
In the near term, lower volumes and higher costs could weigh on revenue. In 2025, Kamoa-Kakula generated $3.28 billion in revenue and $1.45 billion in EBITDA, with a 44% margin, despite production disruptions since May. The site sold 351,674 tonnes of copper at an average price of about $9,700 per tonne.
Direct cash costs rose to about $4,760 per tonne from about $3,640 per tonne in 2024. Ivanhoe attributed the increase to the processing of lower-grade surface stockpiles, lower-quality ore and higher logistics costs per pound transported.
The delay has implications for the global copper market. Kamoa-Kakula had been expected to be one of the main drivers of growth in global supply, with output of more than half a million tonnes previously expected as early as 2027. The delay to 2028 postpones the arrival of significant volumes of high-grade copper on a market already under pressure from electrification and the energy transition.
Ivanhoe highlighted several mitigating factors. The Kamoa-Kakula smelter, commissioned at the end of 2025, is now producing copper anodes at 99.7% purity. The company said the ramp-up of the facility should halve logistics costs, as shipments shift from concentrate grading 35% to 45% to near-pure anodes.
Sulfuric acid sales, a byproduct of the refinery, provide an additional buffer, with the average realized price exceeding $450 per tonne since start-up. The Kamoa-Kakula complex is owned 39.6% by Ivanhoe Mines, 39.6% by Zijin Mining, 20% by the Congolese state and 0.8% by Crystal River, within the Kamoa Copper joint venture.
Pierre Mukoko
Kamoto Copper Company (KCC), a subsidiary of Glencore, is facing a radiological emergency at its T17 tailings site in Kolwezi, in Lualaba province. The alert was triggered by the discovery of radioactive materials in an area affected by artisanal mining.
The issue was discussed at the Council of Ministers on March 27, 2026. In its communiqué, the government cited an urgent health alert linked to risks of irradiation and radioactive contamination at KCC’s Kolwezi site.
President Félix Tshisekedi stressed the need for a swift, coordinated response to the potential consequences, including risks to workers and nearby residents from radiation exposure, as well as contamination of soil, waterways and the food chain, and local socioeconomic disruption. He asked Prime Minister Judith Suminwa to urgently establish an ad hoc commission to oversee the response and support the necessary health, environmental, technical and scientific measures.
The alert comes as Glencore announced in February 2026 that it had finalized an agreement with Gécamines on land access for KCC. The company said the deal aims to expand certain storage capacities, improve resource recovery within existing permits, including in the KOV and T17 areas, and support a long-term copper production target of around 300,000 tonnes per year. It added that the agreement could extend the mine’s operational life into the mid-2040s.
KCC operates a major copper and cobalt complex in Kolwezi, comprising the KOV and Mashamba East open-pit mines, the KTO underground mine, the Kamoto concentrator and the Luilu refinery. However, the term T17 is used inconsistently in company materials, referring both to an area within the mining portfolio and to a distinct site linked to the complex’s operations.
Boaz Kabeya
SMICO Microfinance is accelerating its expansion into insurance as security conditions worsen in eastern Democratic Republic of Congo and banking operations remain shut in several rebel-held areas.
After launching its bancassurance activities in July 2025, the institution introduced a new range of products in March 2026, including auto insurance (SMICO Auto), travel insurance (SMICO Safari), business multi-risk coverage with fire protection, and health insurance. These add to its existing life insurance offering.
“More than a product launch, this marks a strategic shift in the Congolese financial sector,” SMICO said. “As risks linked to business activity and travel increase, insurance solutions have become essential.”
The move comes as SMICO’s financial performance has deteriorated amid the conflict in eastern DRC. At end-June 2025, the institution reported a loss of 1.29 billion Congolese francs. Net financial income fell 57% to 12.47 billion francs, while its 30-day portfolio at risk rose to 13.65%.
Operations have been disrupted by the conflict. Two major branches have been closed since AFC/M23 rebels seized Goma and Bukavu, while the Uvira branch is only partially operational. The downturn also reflects tighter financial conditions, as the central bank has kept banks closed in affected areas and blocked franc transfers to occupied zones, limiting access to liquidity.
In response, SMICO is seeking to diversify its sources of growth beyond lending. It formalized a bancassurance partnership with Rawsur Assurance in July 2025, with approval from the central bank (BCC) and insurance regulator ARCA. The agreement initially covered life, auto, residential fire and travel insurance. The institution now plans to integrate risk management more fully into its services, with products aimed at protecting clients’ business activities, travel and investments.
Rising Interest in Bancassurance
SMICO’s move into insurance builds on earlier initiatives. In 2021, it partnered with Rawsur Life to offer two life insurance products, Protection Crédit and Kimia Famille et Individuelle, designed to protect borrowers against death or disability. The objective was to reduce loan defaults linked to such events while providing basic protection for families.
The institution has also reshaped its geographic presence. It expanded its agent network in North Kivu to Beni and Butembo, where several public institutions relocated after the fall of Goma, allowing it to stay close to its client base as economic activity shifts.
Other financial groups are also targeting the insurance sector. The Rawji Group, which owns Rawbank and Rawsur, already illustrates increasing integration between banking and insurance. Equity Group, through Equity BCDC, has also signaled interest in the Congolese insurance market, which it views as one of the most promising in sub-Saharan Africa.
According to ARCA, the market grew from $66.75 million in 2018 to $352.15 million in 2024, a 428% increase since liberalization. The regulator is targeting a market exceeding $1 billion in the medium term. In this context, bancassurance is emerging as both a diversification tool for financial institutions and a way to manage rising risks in an increasingly uncertain economic and security environment.
Timothée Manoke
DRC plans to rehabilitate the port of Bandundu-ville, a strategic facility operated by state transport company Onatra, as part of efforts to revive river transport and boost trade across the Greater Bandundu region.
The Transport Ministry said preparatory studies are planned ahead of the project, which is seen as key to developing river transport, supporting the regional economy and improving trade flows.
On March 28, 2026, President Félix Tshisekedi visited the port to assess its condition, the ministry said. A March 27 cabinet statement described the facility as a strategic asset that remains underutilized.
The statement added that the port has six silos and serves Kwilu and neighboring provinces, but is operating well below capacity due to deteriorating quays, a lack of modern cargo-handling equipment and limited investment.
Transport Minister and Deputy Prime Minister Jean-Pierre Bemba said the government plans to rehabilitate the port’s infrastructure and modernize its equipment to turn it into a hub for river transport and domestic trade.
Ronsard Luabeya
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
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Les Lignes maritimes congolaises (LMC) has allocated $21.5 million to acquire a vessel under its 2026 procurement plan, according to a document reviewed by Bankable. The contract will be put out to international competitive tender.
The plan also includes the purchase of 400 forty-foot containers for $3.342 million and 600 twenty-foot containers for $1.8 million, both through international tender.
Tender notices for all three lots were initially scheduled for February 2026. So far, Bankable has not identified any publication of those notices.
These acquisitions follow a series of announcements made in 2025 by the state-owned shipping company. In May, board chairman Lambert Mende Omalanga said LMC was in the process of procuring two vessels as part of its 2023-2027 recovery plan.
The plan aims to raise the company’s market share from 0.3% in 2021 to 2% by 2027, which would increase cargo volumes from 45,000 tonnes to 395,195 tonnes. It also calls for the acquisition of five ships to rebuild transport capacity under the national flag.
Separately, public statements have referred to a partnership with Dutch shipbuilder Damen Group. In May 2025, after a working session with a company delegation, Mende said a first vessel acquired through leasing was expected in 2025, followed by a second new ship in 2026. No further updates have been provided since.
Based on the procurement plan, the vessel is the largest single item scheduled for 2026, ahead of the container purchases. The document underscores that fleet renewal remains central to the company’s turnaround strategy.
Timothée Manoke
Construction has begun on a drinking water supply network in Djugu territory, in the Democratic Republic of Congo’s Ituri province, following the delivery of materials, Agence congolaise de presse (ACP) reported.
The project aims to supply drinking water to communities in Lonyo, in Djugu territory, as well as outlying neighborhoods of Bunia. Project coordinator Innocent Ngandru said the materials received, including pipes, valves and fittings, were purchased in Uganda through an external partnership, allowing the project to move from planning to construction.
The project uses a gravity-fed system, drawing on water sources at higher elevations to channel water to distribution areas without pumps. Ngandru said the technical choice should help reduce operating costs and improve access to water for low-income populations. The first phase will draw water from the Tsada spring, while an extension using the UDHA spring is planned.
According to Ngandru, the first phase is designed to deliver a flow rate of five liters per second, with the goal of serving about 17,000 people in the Jili and Mandro areas of Djugu. A future extension could raise capacity to 20 liters per second and reach up to seven outlying neighborhoods of Bunia, pending funding.
This construction phase follows preparatory work already carried out at the Tsada spring site. In October 2025, ACP reported that an initial water output of five liters per second had been achieved there, along with the installation of a collection chamber, a retaining wall and a protective zone around the spring. Those developments confirmed the site’s water supply potential.
Ngandru also raised concerns about insecurity in parts of Ituri. He noted that water infrastructure had already been destroyed in areas affected by violence, a situation he said could further erode donor confidence.
Boaz Kabeya
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