Congo's president seeks additional green energy metal exploration

Tshisekedi stated that exploration for the two minerals will begin “in the coming days” in Congo’s southern, diamond-rich Kasai area.

According to President Felix Tshisekedi, the Democratic Republic of the Congo intends to position itself as a vital supply of metals in the green energy transition, which would include additional nickel and chrome discoveries.

Exploration for the two minerals will begin “in the next few days”  in Congo’s southern, diamond-rich Kasai area, according to the company. Tshisekedi spoke at the Investing in African Mining Indaba conference in Cape Town, South Africa, on Tuesday. In addition, the nation is seeking partners to engage in cobalt, tantalum, tin, and lithium processing.

The shift to clean-energy technologies is a big motivator for metals used in batteries, solar components, wind turbines, and electric vehicles. Meanwhile, mine output has been reduced, which has contributed to increasing commodity prices. Since the end of 2019, copper on the London Metal Exchange has increased by more than 40%, while nickel has increased by more than 90%.

According to the US Geological Survey, Congo produces more than two-thirds of the critical battery element cobalt and is tied with Peru as the world’s second-largest copper producer. Other minerals with substantial reserves include lithium, graphite, and manganese. However, just 19% of the nation – Africa’s second-largest by landmass — has been thoroughly explored, according to Tshisekedi.

‘Recent deposits’

“The goal is to discover new deposits that can be the subject of calls for bids, with a view to concluding mutually profitable public-private partnerships,” Tshisekedi said according to an emailed transcript of his remarks. The country’s recently created national geologic service will oversee the exploration, he said.

According to the president, he hopes to attract new investment by strengthening the regulatory environment and creating incentives such as a special economic zone surrounding lithium reserves in southern Congo.

“Financiers, mining operators, equipment manufacturers, subcontractors, recyclers — everyone can find a role,” he explained.

Despite its mineral wealth, Congo remains one of the world’s poorest countries, and miners would be required to guarantee Congolese people profit as well, he added. During exploration, he plans to obtain insurance from Congo-registered firms and negotiate development projects with local populations.