Tag: Sicomines
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The DR Congo Government Now Has Sicomines in its Sights as the Investigation Into Chinese Mining Contracts Advances
The Congolese government started its review of Chinese mining contracts trying to land a big fish, by launching a commission to investigate China Molybdenum's massive Tenke Fungurume (TFM) cobalt and copper mine in southern Lualaba Province. Now, the government ...
Sino-Congolese Mining Venture Sicomines Launches Conveniently Timed Social Development Program
The Sino-Congolese mining company Sicomines held a signing ceremony on Saturday for one of its largest community development initiatives in the joint venture's 14-year history. The company will spend almost $12 million to upgrade the infrastructure and provide development assistance to local communities around its ...
Translation: A Storm is Approaching For Chinese Mining Companies in the DR Congo
The following is a translation of an article published on the Global Mining (世界矿业 )WeChat page on July 15, 2021. The purpose of translations like this is to provide English language readers with a more informed understanding of the civil society discourse about China-Africa relations that ...
NGO Report: DRC is the “Loser” in the Sicomines Mega-Mining Deal With China
The DR Congo will be saddled with debt and poor quality infrastructure as a result of the faulty 2008 deal between the state-run mining company Gecamines and a consortium of Chinese investors, according to a new report by the Kinshasa-based NGO African Resources Watch ...
Even If the DRC is Able To Re-Negotiate Its Mining Contracts With The Chinese and Others, It’s Still Not Going to Help Ordinary People, Says Expert
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 ...
IMF Missteps Over Huge China Deal in the DR Congo Proves Costly
In 2007 when China's Exim Bank unveiled a massive $6 billion mining deal in the Democratic Republic of the Congo, it completely rocked the normally-staid world of international development finance. The agreement, known as "The China Deal" or Sicomines, was among the first of ...
China's Massive Mining Deal in DR Congo is Back on Track
The controversial Sino-Congolese mining deal Sicomines has been revived thanks to new financing from China's Exim Bank. This is one of Beijing's biggest natural resources-for-infrastructure deals in Africa. If successful, the deal would net millions of tons in iron ore and cobalt for the ...
3Qi: China's Landmark Sicomines Deal in the DR Congo
The controversial 2007 Sicomines infrastructure-for-natural resources deal between China and the Democratic Republic of the Congo is a milestone in Sino-Africa ties as it's one of the largest agreements of its kind on record. Originally valued at 9 ...
Chinese Business Operations in the DR Congo
By any measure, the DRC is one of the most difficult places on earth to do business. Let’s put aside, for now, the problems associated with the war in the east as that’s not really the issue here. Instead, we’re going to focus on what it actually takes to ...