Chinese firms now hold stakes in 54% of DR Congo’s critical mineral projects

Chinese companies now hold stakes in 49 critical mineral projects in DR Congo, representing 54 percent of the country’s total and strengthening Beijing’s influence over global copper and cobalt supplies.

Chinese companies hold minority or majority stakes in 49 of the Democratic Republic of Congo’s critical mining projects, or 54 percent, The Africa Report reports.

The findings come from an updated critical minerals database compiled by Africa Business+ with consulting firm EY. In 2023, Chinese companies took part in fewer than one-third of the projects.

The investors include privately owned and state-controlled Chinese firms.

The DRC is the world’s second-largest copper producer and a major source of cobalt, both used in electric vehicles, rechargeable batteries and renewable energy technologies. Tenke Fungurume is among its major operations.