A historic mining agreement was signed between the Democratic Republic of the Congo (DRC) and the United Arab Emirates (UAE) to exploit 3Ts minerals (tantalum or coltan, tungsten, and tin) in the Kivu region.
UAE’s Primera Mining pledges a generous investment of nearly $2 billion to kickstart the project, with the signing ceremony witnessed by DRC President Félix Tshisekedi.
President Tshisekedi expresses hope that the alliance will lead to economic transformation, offering an alternative to armed groups’ activities in the volatile North Kivu and Ituri provinces.
A mining agreement between the Democratic Republic of the Congo (DRC) and the United Arab Emirates (UAE) would see the exploitation of the 3Ts minerals (tantalum or coltan, tungsten, and tin) in the Kivu region of the nation.
Monday’s signing ceremony between Primera Mining, an Emirati corporation donating almost $2 billion to the project, and state-owned enterprise Société aurifère du Kivu et du Maniema (Sakima SA), was observed by the president of Congo, Félix Tshisekedi.
The United Arab Emirates’ Minister of State for Foreign Affairs, Sheilk Shakhboot Nahyan Al Nahyan, headed a team to the Congo that the Congolese president had already received. Through Primera Gold, the alliance expands on current UAE mineral exploration efforts in the province of South Kivu.
The president of the Democratic Republic of the Congo expressed the hope that this new alliance would mark the beginning of a transition for the nation’s people, particularly for those in the east who need to profit from their area’s natural resources.
“For me, the love of the country and the Congolese people comes first. Any project that comes along to transform the Congo will be welcome,” said Tshisekedi.
Tshisekedi claims he wants to expand commercial prospects in the Kivu area as a substitute for the armed groups’ operations that have made North Kivu and Ituri provinces insecure for the past 30 years.
Additionally, on Wednesday, the executive board of the International Monetary Fund authorized $43 million in economic assistance for the Democratic Republic of the Congo.
The IMF stated that the money will assist Congo’s political authorities in implementing “their development policies, maintain macroeconomic stability and strengthen economic recovery amid high food inflation, lower oil prices and tightening financial conditions.”
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