The Democratic Republic of Congo has taken another step in its plan to modernize its diamond sector. The Mining Fund for Future Generations (Fomin) and Swiss company Adex Platform AG have signed a framework agreement to establish Adex RDC SA, a joint venture that will oversee the local processing and marketing of diamonds and colored gemstones.

The agreement was signed several weeks after the government approved the project. During its 91st regular meeting, the Council of Ministers approved the framework agreement presented by Mines Minister Louis Watum Kabamba, authorizing Fomin to enter into the partnership with Adex Platform AG.

Joint Venture to Support Local Value Addition

Under the terms of the agreement, Adex RDC SA will be owned equally by Fomin and Adex Platform AG. The joint venture will be responsible for establishing a world-class diamond cutting facility, a digital platform for direct sales to international markets, and mechanisms for technology transfer and capacity building.

The agreement marks “a new chapter in the responsible trade of diamonds and colored gemstones” in the Democratic Republic of Congo, the mines minister said. According to Louis Watum Kabamba, the goal is to make Congolese diamonds a symbol of transparency, industrial modernization and value creation, rather than of smuggling and lost economic value.

Through the partnership, the government aims to strengthen transparency across the sector, promote local processing, increase earnings across the value chain, and reposition the Democratic Republic of Congo in the international diamond and colored gemstone market. The signing advances the implementation of a project that had already secured approval from the Council of Ministers.

Boaz Kabeya