The Congolese president’s visit to China was widely publicized and raised high expectations for the renegotiation of the allegedly unbalanced “deal of the century” concluded in 2007 between the DRC and China. However, the results of the visit lacked precision on this major issue which concerns most of the mining activities in the DRC.
The mining contract signed in 2007 gave birth to Sicomines, a company 68% owned by Chinese partners to supply copper and cobalt in exchange for the construction of infrastructure in Congo (roads, hospitals, railways …). However, Beijing has collected more than 11 billion dollars thanks to the minerals extracted from Congolese soil, while of the 3 billion dollars of infrastructure that China was to build, only 822 million dollars have been disbursed. The DRC had expressed before the visit of Félix Tshisekedi, to wish to reverse the percentage of the shares held by the Congolese State in Sicomines via its company Gécamines.
The Congolese president’s trip has strengthened diplomatic and economic relations between the two countries. Several memoranda were signed without specifying a renegotiation of this mining contract deemed unfavorable to the Congolese party. However, the Congolese delegation remains optimistic of reaching an agreement by the end of 2023.
The DRC remains China’s largest trading partner with its $21.7 billion in imports and exports combined. For the DRC, this renegotiation is important because it will contribute to the economic diversification and industrialization of the country. But faced with Chinese economic power, Kinshasa must walk on eggshells