The US is in discussions to make investments in the mineral-rich Democratic Republic of Congo (DRC), with a focus on fostering peace in the conflict-ridden eastern regions, reported Reuters.
This move comes as the US seeks to establish critical minerals partnerships following a Congolese senator’s proposal for a minerals-for-security deal.
The DRC, home to substantial deposits of cobalt, lithium and uranium, is currently embroiled in a conflict with M23 rebels backed by Rwanda, who have captured large areas of territory this year.
The US, having recently announced a 10% baseline tariff on all imports, is now looking to explore new avenues of cooperation with the DRC.
US senior adviser Massad Boulos, after meeting with Congo President Felix Tshisekedi in Kinshasa, said: “You have heard about a minerals agreement. We have reviewed the Congo’s proposal, and… the president and I have agreed on a path forward for its development.”
However, the specifics of any potential agreement remain undisclosed.
China currently dominates the Congolese minerals market, which is vital for the production of mobile phones and electric vehicles.
The US aims to introduce a transparent and economically stimulating approach to its operations in the DRC.
Joseph Bangakya, a Congolese MP and head of the Congo-US friendship group, told Reuters that lawmakers are drafting a bill to improve the Central African nation’s business environment. “It is essential for our country to achieve a trade agreement with the United States,” Bangakya said.
Bangakya added: “We want a lasting peace that affirms the territorial integrity and sovereignty of the DRC.
“There can be no economic prosperity without security.”
The DRC has substantial untapped gold, cobalt and high-grade copper reserves. It was the world’s largest cobalt miner in 2022 with a production of 130,000 tonnes, or nearly 68% of the world’s cobalt.
