The Democratic Republic of Congo (DRC), located in an area very rich in natural resources, is considered one of the poorest countries in the world. Thus, although the DRC has 70% of the world’s known cobalt reserves, the situation of this country is considered “geological ineptitude”, because it struggles to exploit its resources effectively. The mining sector is plagued by the activity of illegal miners, estimated at more than 200,000 across the country, who hijack and corrupt the market. However, international mining multinationals, such as the CMOC, bring their know-how and contribute to the economic development of the most remote regions, while offering miners decent working conditions in compliance with international standards.
Although the DRC holds incredible geological wealth, it remains one of the poorest countries in the world. Indeed, most of its economy is based on the extraction of rare metals such as cobalt, which can be risky due to the vagaries of the market. The suspension of the exploitation of the Mutanda mine by the Swiss giant Glencore in 2019 had a direct impact on the country’s GDP, which fell by 2%. Additionally, illegal mining poses another threat to the DRC’s economy. Artisanal miners who illegally extract cobalt from various mines in the country are diverting and corrupting the market, which hinders economic growth.
However, large mining multinationals such as CMOC provide a solution to this complex situation. Indeed, in addition to their unique know-how and skills in mining, they also offer miners a decent working environment, salaries, holidays and health and safety conditions that respect international standards. Thus, these companies make a significant contribution to the economic development of often isolated regions such as the DRC. To avoid any deterioration of the situation with the local populations, the multinationals have also set up liaison officers to better understand their expectations and respond to them effectively. With their locally recruited staff, these companies support projects to fight against communicable diseases, build clinics, maternities and schools, but also roads to facilitate the transport of agricultural and mining products.
In conclusion, the DRC is a country rich in natural resources, but it is vital that the exploitation of these resources is done in compliance with international rules and standards. Illegal mining is a scourge that damages the cobalt market and hinders the economic development of this country. This is why the presence of large international mining multinationals such as the CMOC is vital for the DRC, because they contribute to the economic growth and development of often remote regions, while offering miners decent working conditions with respect international standards