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Details of the $2 Billion Deal Signed Between DR Congo and UAE

The Democratic Republic of the Congo (DRC) and the United Arab Emirates (UAE) have agreed to exploit the 3Ts minerals (tantalum or coltan, tungsten, and tin) in the Kivu area of the country.

The president of Congo, Félix Tshisekedi, attended Monday’s signing ceremony between Primera Mining, an Emirati business providing nearly $2 billion to the project, and state-owned enterprise Société aurifère du Kivu et du Maniema (Sakima SA).

Sheilk Shakhboot Nahyan Al Nahyan, the UAE’s Minister of State for Foreign Affairs, led a team to the Congo that the Congolese president had already received. The cooperation, through Primera Gold, expands on current UAE mineral development initiatives in the province of South Kivu.

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The president of the Democratic Republic of the Congo expressed confidence that this new coalition will herald the start of a new era for the people of the country, particularly those in the east who rely on natural resources.

“For me, the love of the country and the Congolese people comes first. Any project that comes along to transform the Congo will be welcome,” said Tshisekedi.

Tshisekedi claims he intends to promote commercial opportunities in the Kivu region as a replacement for the armed groups’ operations that have rendered North Kivu and Ituri provinces unstable for the past 30 years.

In addition, the International Monetary Fund’s executive board granted $43 million in economic aid for the Democratic Republic of the Congo on Wednesday.

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The IMF stated that the money will assist Congo’s political authorities in implementing “their development policies, maintain macroeconomic stability and strengthen economic recovery amid high food inflation, lower oil prices and tightening financial conditions.”

Written by PH

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