DR Congo adopts new mining ownership rules as US‑backed miner Chemaf cuts debt

Mining companies operating in the Democratic Republic of Congo have reached a consensus on a framework that sets out Congolese ownership and participation requirements across the sector. The agreement aims to give local businesses a larger role in mining services, engineering, logistics and related industries, reduce regulatory uncertainty and retain more economic value from the country’s cobalt and copper production.

In a parallel development, Chemaf, a copper miner owned by US and Indian investors, signed settlement deals with creditors that will write off up to $475 million of its $804 million debt, leaving about $330 million outstanding. The restructuring is intended to clear a major obstacle to restarting the mine, with the company seeking up to $260 million in new financing to recommence operations, expected as early as January. The White House has highlighted Chemaf as a flagship US investment aimed at lessening China’s influence over critical mineral supply chains.