mining deals

DRC: Tshisekedi wants to mend relationship with Chinese mining companies

By Eric Olander

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Posted on October 20, 2021 05:37

France Congo
DRC’s President Felix Tshisekedi delivers a speech at the Elysee Palace, in Paris, Tuesday, April 27, 2021. (AP Photo/Thibault Camus)

On Friday 15 October, DRC President Félix Tshisekedi hinted during a meeting of the Council of Ministers (the DRC’s cabinet) that he wants to bring an end to the ongoing dispute with Chinese mining companies over unfair contracts.

The President ordered a technical and financial audit of the Sicomines contract, in particular, and called for the “revision of certain mining clauses between the DRC and the Chinese business group.”

He made no mention of the other major mining contract involving China Molybdenum Co.’s ownership stake in the massive Tenke Fungurume copper and cobalt mine.

The audit of the Sicomines contract is consistent with his policy of restructuring the country’s major mining deals with foreign companies to make them more equitable. However, the directive he gave to Foreign Affairs Minister Christophe Lutundula could indicate that he’s ready to put an end to this process.

Lutundula will now work with his Chinese stakeholders to set up a “joint Sino-Congolese commission that will look at areas of common interest” with the desired objective that “the implementation of contracts be win-win.”


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