The Democratic Republic of Congo and the United States held the first steering committee meeting of their Strategic Partnership on February 4, focused on investment and critical minerals, with U.S. companies set to receive “preferential access” to selected Congolese mining assets.
The inaugural session marked the start of the implementation of the agreement signed in December 2023, according to a joint statement issued by the U.S. State Department and reviewed by Mining and Business.
Kinshasa has designated an initial list of assets classified as a “Strategic Asset Reserve” (SAR). American companies “will benefit from preferential access to these assets,” the statement said, with the aim of “creating the conditions necessary for substantial investment in the DRC’s critical minerals sector.”
The two sides also discussed Congolese “Designated Strategic Projects” and reaffirmed that “peace and security are fundamental” to the partnership’s objectives, referencing ongoing efforts to “advance stability in eastern DRC.”
The committee reviewed progress on the “Sakania-Lobito Corridor,” an infrastructure project intended to open up the region and facilitate exports.
“The development of this strategic partnership cannot be dissociated from the consolidation of peace, security, the preservation of territorial integrity and stability in the DRC, which constitute its foundation,” the statement said.
Call for Private Sector Engagement
Both governments invited eligible private-sector companies to express interest in accessing the SAR list and exploring investment opportunities.
“We recognize the essential role of the private sector in advancing economic progress and invite private-sector entities that meet the eligibility criteria set out in the Strategic Partnership Agreement to contact either government to obtain the SAR asset list, express their interest in being designated as an eligible strategic project and explore investment opportunities,” the State Department statement added.
According to initial information, Virtus Minerals has secured a first major foothold through an agreement to acquire Chemaf’s assets.
The steering committee will meet regularly to “monitor progress and identify new areas of collaboration,” the statement concluded.
M&B
