China may sign minerals deal with Congo this week
Congo
Felix Tshisekedi, President of the mineral-rich Democratic Republic of Congo, is expected to meet Chinese President Xi Jinping to review and sign key deals. Tshisekedi will visit China from May 24 to 29.
The meeting will pave the way for the two countries to formally overhaul and seal a $6 billion infrastructure-for-minerals deal with Chinese investors. The visit was announced by the Chinese foreign ministry on Monday.
Reuters quoted Congo government spokesman Patrick Muyaya who said that Congo President's visit will strengthen cooperation between the countries.
"We want to build new relations with China, on sound foundations," Muyaya said.
Tshisekedi directed his government on May 19 to go ahead with talks on the deal with the Chinese side. This was after the government and other stakeholders "consolidated their position," according to a government statement.
He informed Cabinet members that a task force looking at the deal had submitted its conclusions, enabling discussions with Chinese partners to commence in the coming days.
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Rebalancing the deal
Congo is trying to 'rebalance' the USD 6 billion infrastructure-for-minerals deal. It was signed by a previous administration. Congo now says that the terms of the deal were unfavourable.
The government said its Chinese counterparts have not met their end of the bargain which provided for infrastructure investments in exchange for copper and cobalt.
Congo is the world's largest producer of battery material cobalt.
During the Congo president's China visit, the two presidents will hold talks after signing the co-operation document, said the Chinese foreign ministry.
"The Democratic Republic of Congo is an important country in Africa, and the friendship between China and the Democratic Republic of Congo has a long history," Chinese foreign ministry spokesperson Mao Ning said at a regular press briefing.
"Both sides have always supported each other on issues related to each other's core interests and major concerns. In recent years, political mutual trust between China and the Democratic Republic of Congo has been continuously deepening, and practical cooperation has yielded fruitful results," Mao added.
(With inputs from agencies)
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