Agreement between UAE and the Democratic Republic of Congo to develop $1.9 billion in mines

UAE signs $1.9 Billion agreement to develop mines in the Democratic Republic of the Congo.

The Congolese presidency announced on Monday that the United Arab Emirates has signed a $1.9 billion agreement with a government mining company in the Democratic Republic of the Congo to develop at least four mines in the troubled East African nation.

In a statement released on Monday evening, President Felix Tshisekedi's office stated that a UAE government delegation reached a partnership deal worth $1.9 billion with the Kivu and Maniema Mining Company (Sakima) in Kinshasa.

The agreement stipulates the establishment of "more than four industrial mines" in the Kivu and Maniema regions.

Earlier, the Democratic Republic of the Congo had signed a 25-year contract with the UAE company "Primera Group" to export some of the manually extracted minerals from South Kivu.

As per the terms of this contract, the Primera Group holds the largest share in two joint projects, Primera Gold for gold and Primera Metals for tin, tungsten, and tantalum.

Congo views this initiative as a means to combat mineral trafficking by armed groups and rebels, which is rampant in the eastern part of the country.

Kinshasa accuses Rwanda of supporting rebel movement "M23" and looting mineral wealth in the region, a claim denied by Kigali.

Primera Gold began its operations in South Kivu in January and, by May, managed to ship a ton of gold, according to the Congolese Ministry of Finance.

However, a report published by UN experts in June cast doubt on the legality of the artisanal gold mines supplying Primera Gold. The report suggested that the supply chain might be tainted with minerals sourced from sites controlled by armed groups.

 

 

 

 

 

 

 

 

 

AFP