DRC’s President to renegotiate exploitative mining contracts with Chinese and other companies

President of the Democratic Republic of Congo, Felix Tshisekedi has said that he will renegotiate all exploitative mining contracts signed between previous administrations and foreign investors especially, Chinese companies which is causing financial loss to the state. 

According to the President, with these unfavorable agreements, foreign investors have “stolen so much” from the country and “are getting richer and richer” at the expense of the good people of Congo who “continue to languish in misery”.

The president made this disclosure after paying a visit to Katanga which is known as the country’s resource rich region. “It is not normal that those with whom the country has signed exploitation contracts get rich while our people remain poor,” he said.

He added further that, “I’ve really had enough!…I’m very harsh on these investors who come to enrich themselves alone. They come with empty pockets and leave as billionaires.” 

President Tshisekedi also acknowledged the fact that, some of the country’s authorities must equally be blamed for the parasitic agreements the country signed with these foreign companies and investors who are milking the nation dry. 
“It is also our fault. Some of our compatriots had badly negotiated the mining contracts. Worse, the little that goes to the state, they put in their own pockets,” the President said, whilst promising that, he will make “the great Katanga, the whole Congo (…) the world capital of strategic minerals.”

The Democratic Republic of Congo (DRC) is rich in cobalt, copper, uranium among others. Currently, the country has been rated the fourth highest copper producer ahead of the United States of America. This wealth of resources drew the attention of these foreign companies. Out of the forty mining companies currently operating in Katanga, about thirty belong to the chinese.

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