DRC eyes US minerals deal by end of June, FT reports
Officials from the Democratic Republic of Congo (DRC) are optimistic they can reach a deal with Washington next month to secure US investment in critical minerals alongside support to end a Rwandan-backed rebellion in the country's east, the Financial Times reported on Sunday.
Congolese minerals such as tungsten, tantalum and tin, which Kinshasa has long accused neighbouring Rwanda of illegally exploiting, could be exported legitimately to Rwanda for processing under the terms of a peace deal being negotiated by the US, Reuters reported last week.
An investment deal with the US and separate peace deal with Rwanda were possible 'by the end of June', the newspaper said, citing two people close to the negotiations. But potential stumbling blocks remain substantial, the FT said.
DRC mines minister Kizito Pakabomba said an agreement with the US would help 'diversify our partnerships', reducing the country's dependence on China for the exploitation of its vast mineral riches, the FT reported.
Kinshasa views the plundering of its mineral wealth as a key driver of the conflict between its forces and Rwanda-backed M23 rebels in the eastern DRC that has intensified since January, accusing Kigali of smuggling tens of millions of dollars worth of minerals over the border each month to be sold from Rwanda.
Washington is pushing for a peace agreement between the two sides to be signed this summer, accompanied by minerals deals aimed at bringing billions of dollars of Western investment to the region, Massad Boulos, US President Donald Trump's senior adviser for Africa, said earlier this month.
Rwanda's defensive measures along the border, are necessary as long as threats and the cause of insecurity in the DRC persists, Yolande Makolo, a Rwandan government spokesperson said, according to the FT.
The US state department did not immediately respond to a Reuters request for comment.
Reuters
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Mail & Guardian
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Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad loading The Rwandan and DRC foreign ministers later met in Washington, US, in April where they signed an agreement pledging mutual respect for each other's sovereignty and a commitment to desist from availing military aid to non-state actors. 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The Herald
12 hours ago
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