Belgium is willing to deepen its engagement in the Democratic Republic of Congo’s mineral sector.
- Belgium aims to deepen engagement in the Democratic Republic of Congo’s mineral sector.
- DRC is rich in minerals such as copper, cobalt, lithium, and uranium.
- Kinshasa seeks to bring in new investors, including discussions with the U.S. and Saudi Arabia.
This development was revealed by Belgium’s foreign minister during a visit to the resource-rich Central African country, which is looking to broaden its pool of investment partners.
DRC is one of the richest mineral-producing countries in Africa, with copper being one of its main exports. It also boasts significant reserves of cobalt, lithium, uranium, and other critical minerals.
However, ongoing instability has long deterred the foreign investment required to fully unlock the country’s vast mining potential.
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Congo seeks to diversify partnerships
Kinshasa is actively seeking to bring new investors into its mining sector, with discussions already underway with Washington following a proposal by a Congolese senator for a minerals-for-security arrangement with the U.S. government, according to Reuters.
In January, Congo also sought investment from Saudi Arabia to help diversify its mining industry and reduce reliance on Chinese firms, according to senior government official Marcellin Paluku.
Chinese companies, many of which are state-backed, have become the largest investors in the Democratic Republic of Congo in recent years, significantly increasing investments and production of copper and cobalt.
Belgium now wants a larger share of the market. Foreign Affairs Minister Maxime Prevot said Belgian companies have the technical expertise needed to expand their role in Congo’s mineral sector.
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Despite China’s dominant position in the sector, Belgian companies have long played a role in the mining, processing, and trading of Congolese cobalt, copper, and diamonds.
Belgium-based materials technology giant Umicore, for example, signed an agreement last year with Congo’s state miner Gecamines to export germanium concentrates to Europe.
Foreign Minister Maxime Prevot emphasized that Belgium’s engagement with the DRC is built on mutual benefit, contrasting it with the more transactional approaches taken by some other international partners.
“We see the motivations of other global actors, which can at times be more transactional,” Prevot said.
