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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