A man watches a conveyor belt loaded with chunks of Raw cobalt after a first transformation at a plant in Lubumbashi. SAMIR TOUNSI / AFP
A leading Congolese mining expert wants to dispel the notion that President Félix Tshisekedi’s efforts to renegotiate foreign mining contracts is going to benefit ordinary people. “It is, of course, a first step,” acknowledged Jean Pierre Okenda, a well-known expert in DRC mining issues and head of the extractive resources department at the Brussels-based NGO Resource Matters in an interview with the French newspaper Le Monde, “but those contracts generate money for state companies and don’t contribute directly to the national budget.”
The problem dates back to the early 2000s when the state-run mining company Gécamines was on the verge of bankruptcy and signed a number of joint venture deals, including a massive one with a consortium of Chinese firms. “[These deals] are totally unbalanced in the sharing of mining revenues. This partnership led to a huge loss of $2 billion for DRC,” said Albert Yuma, chair of the board of Gécamines.
Lead the Conversation on China
Subscribe Today to Get Full Access to The China-Global South Project
Monthly
$19.00 / monthly
Cancel Anytime - Renews Monthly
Save 17%
Best Value
Yearly
$228.00
$199.00 / yearly
Renews Yearly
Check Out Everything You'll Get With Your Subscription
The China-Global South Daily Brief delivered to your inbox at 6AM Washington time
Full access to exclusive news and analysis from editors based in the Global South
Students and teachers with a valid .edu email address are eligible for a 50% discount off monthly or yearly subscriptions. Email us to receive a discount code.
Who exactly is controlling the Democratic Republic of Congo’s Tenke Fungurume Mine (TFM), one of the largest copper and cobalt mines in the world, remains a mystery. Officially, the Chinese mining giant ...
There’s new evidence that the once combative relationship between DR Congo President Félix Tshisekedi and the large Chinese cobalt mining companies that operate in his country is getting back on track. On Sunday,
The China-Global South Project is passionately independent, non-partisan and does not advocate for any country, company or culture.
News
A carefully curated selection of the day’s most important China-Global South stories. Updated 24 hours a day by human editors. No bots, no algorithms.
Analysis
Diverse, often unconventional insights from scholars, analysts, journalists and a variety of stakeholders in the China-Global South discourse.
Networking
A unique professional network of China-Africa scholars, analysts, journalists and other practioners from around the world.
We use cookies on our website to remember your login status and manage your subscription access. By clicking “Accept”, you consent to the use of ALL the cookies.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
Cookie
Duration
Description
cookielawinfo-checbox-analytics
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checbox-functional
11 months
The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checbox-others
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-necessary
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-performance
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy
11 months
The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.