The government of the Democratic Republic of the Congo has approved the establishment of the “Congo-US Special Task Force” to accelerate the implementation of the strategic mineral cooperation agreement with the United States. The Congo (Kinshasa) hopes to attract more Western capital investment in the local copper and cobalt industries.
According to a report by Reuters on September 15, the decision was made during a cabinet meeting on September 11. Minister of Economy Daniel Mukoko Samba stated that the task force will translate the cooperation commitments reached by both parties into “concrete economic and security outcomes.”
The Congo is the world’s largest producer of cobalt and the second largest exporter of copper globally. The country has long been heavily reliant on Chinese investment and market in the mining sector. Therefore, in recent years, it has actively sought Western capital to diversify the financing and export channels of the mining industry.
In December last year, the Congo and the United States signed a strategic mineral cooperation agreement. Since then, US-supported mining investments have entered the Congo. The state-owned mining company of the Congo, Gecamines, has also expanded its copper ore sales arrangements with Western traders such as Mercuria and Glencore.
Government officials of the Congo stated that the task force was originally scheduled to start operating in February of this year but was delayed due to administrative procedures. However, the cooperation between the two parties has not been interrupted.