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NEW AGREEMENT TERMS: Kamerhe Announces New Agreed Terms Between DR Congo And China In Sicomine Deal

Democratic Republic of Congo Deputy Prime Minister Vital Kamerhe has announced a new agreement has been struck between government and its Chinese partner over their joint partnership at Sicomines.

Kamerhe told Reuters in an interview in New York that under the new deal the DRC and China will equal stake 50% each of Sicomine following President Fèlix Tshisekedi’s visit to the Asian giant nation last July.

Previously, the DR Congo had been entitled to just 20% stake that had been agreed in the 2008 infrastructure-for-minerals deal with China.

“With Sicomines, another Chinese company, it is 50% for China and 50% for Congo. Before Tshisekedi, it was only 20% for Congo,” Kamerhe said, revealing for the first time the details of the agreement.

Before the talks in July, Congo had hoped to obtain a stake of up to 60% in Sicomines for its state-owned mining firm Gecamines.

Kamerhe also revealed that the DRC and China had also reached resolution in their dispute over the Tenke Fungurume Mining.

The DR Congo is the world’s largest producer of battery material cobalt, and a major copper producer.

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