The Democratic Republic of Congo (DRC) is looking to attract “modern investors” to develop its $24 trillion of untapped mineral deposits in partnership with Congolese companies, the leader of its private sector regulatory body told the mining industry at the 30th annual Mining Indaba in Cape Town, South Africa.
Mr Miguel Kashal Katemb, Director General of the Regulatory Authority for Subcontracting in the Private Sector (ARSP), told a packed auditorium that the “DRC is open to all investors” but is looking to partner with “modern investors” who can support the country’s economic development. With a responsible approach, Mr Miguel Katemb assured the mining industry that future investment in the DRC can be a “win-win” for both investors and the Congolese people.
ARSP connects mining investors with Congolese partners who provide market access and resources in exchange for ensuring Congolese participation in the mining value chain, supporting freshly re-elected President Félix Antoine Tshisekedi’s pledge to deliver more jobs and promote entrepreneurship. In regulation introduced recently, 51% of secondary activities, or sub-contracts, in the mining industry must be held by Congolese companies – an effort to ensure the benefits of the country’s vast mineral wealth is shared by everyone.
In his speech at the Mining Indaba, Mr Miguel Katemb said:
“We have many big investors in the DRC already, but we need modern investors. We are looking for investors who can help to build a new world for the Congolese people, where the social and economic benefits of investments are shared widely.”
Citing Canadian mining giant Ivanhoe Mines as a prime example of a “modern investor” that the DRC is looking to partner with, Mr Miguel Katemb was clear that there would be “cake for everyone” in the future development of the country’s vast mining resources.
