Cabinet minutes state that Congo has created a task force to deal with US minerals.
According to cabinet minutes seen by?Tuesday?, the Democratic Republic of Congo approved a task force to accelerate implementation of its strategic minerals partnership with United States. Kinshasa is seeking to attract more Western investments into its copper- and cobalt-sector.
The decision is the latest in Congo's efforts at diversifying funding sources outside of China and strengthening ties with Washington. Washington wants to challenge China's dominance over critical mineral supply chains.
Congo, which is the second largest copper exporter in the world, and the world's biggest cobalt producer, signed a partnership with the U.S. last December.
The deal has already?deliver a U.S. mining investment via Virtus Minerals, and expanded copper offtake agreements between state?miner Gecamines, and traders Mercuria & Glencore. This will boost Congolese sales to Western markets.
According to an official account of the meeting, the cabinet decision of September 11 establishes officially a "DRC/USA Task Force" in order to accelerate the execution of the partnership.
The statement stated that Economy Minister Daniel Mukoko Samba informed ministers that the body would assist in translating commitments made within the partnership into "concrete results" for Congolese people. The statement did not give any details about the composition of the task force or its priority projects.
An official from the government said that the task force had been due to start in February, but administrative obstacles delayed it.
The official, who spoke under condition of anonymity said that the partnership was still being implemented despite the delays.
Ministers also approved a record $24.8 billion budget, an increase of?12% over the?revised plan for this year. According to a statement, the government has set infrastructure, economic diversification, and security as its top priorities.
(source: Reuters)