Lukonde: Major Africa mining companies willing to invest in the DRC

The Prime Minister of the Democratic Republic of Congo, Jean-Michel Sama Lukonde, recently made a significant announcement at the Mining Indaba regarding the country's commitment to attracting investments in the renewable energy sector. In an exclusive interview with CNBC Africa’s Fifi Peters, Prime Minister Lukonde emphasized the DRC's desire to position itself as a hub for battery manufacturing and other components for electric vehicles. He highlighted the importance of expanding the value chain within the country, stressing the need for more direct development of batteries and green energy technologies on African soil. In his address, Prime Minister Lukonde also touched upon the recent re-election of President Félicien Tsekedi and outlined the government's economic priorities. President Tsekedi's second term agenda includes a focus on economic growth, job creation, and community development. Lukonde underscored the crucial role of the mining sector in supporting the DRC's economy, particularly through resources like copper, cobalt, lithium, and zinc. He expressed the government's openness to welcoming investors in mining, industry, and energy, citing the country's vast potential in hydroelectric and solar energy. Key Theme: Renewable Energy Investment in the DRC Key Points: 1. Lukonde's Call for Value Chain Development: Prime Minister Lukonde stressed the importance of establishing a robust value chain in the DRC, urging investors to contribute to the local communities and prioritize education and digitalization initiatives. He emphasized the country's commitment to environmental responsibility and positioned the DRC as a 'solution country' for addressing climate challenges. 2. Potential of DRC's Mineral Reserves: Reports indicate that the DRC holds approximately $24 trillion in untapped copper, cobalt, diamond, and gold reserves. Lukonde highlighted existing collaborations with major mining companies like Glencore, Barrick, and Ivanhoe, while also inviting new investments in exploration activities to ensure sustainable resource utilization. 3. South-South Cooperation and Geopolitical Impact: Lukonde discussed the importance of South-South partnerships in driving economic growth, citing an agreement between DRC and Zambia for joint battery production. He emphasized the significance of leveraging the unique resources of African nations to strengthen regional trade and collaboration. In response to questions about global geopolitics, Lukonde expressed optimism about the investments flowing into Africa's mining sector despite shifting global relations. Quote: 'We all want to see production of electrical batteries on our soil. We have decided to put our energy together because we believe that cooperation and collaboration are key to advancing renewable energy initiatives in Africa.' In conclusion, Prime Minister Lukonde's remarks at the Mining Indaba signal the DRC's proactive stance towards attracting investments in renewable energy and promoting sustainable development in the mining sector. With a focus on value addition, environmental stewardship, and regional partnerships, the country aims to capitalize on its abundant mineral wealth to drive economic prosperity and foster innovation in the green energy space.