Washington steps up mining and energy investment in DR Congo
By the AFREEQUE newsroom, based on Capital FM
The United States and DR Congo are strengthening cooperation to increase US investment in strategic minerals, hydropower and transport infrastructure. The second meeting of the steering committee reviewed DFC projects and the Lobito Corridor, according to the US State Department.
The United States and the Democratic Republic of Congo (DRC) have identified new opportunities for US investment in critical minerals, hydropower and transport infrastructure. The two governments held the second meeting of their joint steering committee for the strategic partnership in Paris on Friday 6 November, according to a joint statement issued by the US State Department.
The US International Development Finance Corporation (DFC) presented a growing portfolio of investment projects in the DRC. The two delegations also noted growing interest from US companies in the Strategic Asset Reserve (SAR), a Congolese mechanism intended to mobilise investment around the country's strategic resources.
The discussions focused on US participation in the processing and export of critical minerals. The delegations also discussed the Lobito Corridor, a regional transport infrastructure linking mining areas in Central Africa to international markets. They welcomed the signing of a concession agreement for the corridor. The Grand Inga hydropower project, aimed at increasing electricity production in the DRC, was also among the issues examined.
The two governments also discussed the implementation of Congolese legislation establishing tax and customs rules for projects carried out under the strategic partnership. They committed to coordinating its implementation. The joint statement also stresses job creation, vocational training and the development of Congolese and US businesses so that local populations benefit from the investments.
The meeting follows discussions held in Paris on 6 November on investment projects between the DRC and the United States. It also extends talks on local processing of critical minerals, announced on the same day.
