Officials in the Democratic Republic of Congo (DRC) are hopeful of finalizing a minerals investment agreement with the United States by the end of June, according to the Financial Times.
The deal would secure U.S. investment in critical minerals like tungsten, tantalum, and tin, which Congo accuses neighboring Rwanda of exploiting illegally. Under the terms of a peace agreement being negotiated by the U.S., these minerals could be exported legitimately to Rwanda for processing, Reuters reported last week.
The Financial Times said an investment deal with the U.S. and a separate peace agreement with Rwanda could be reached by late June, citing two sources close to the talks. However, it warned that significant obstacles remain.
Congo’s Mines Minister Kizito Pakabomba told the FT that a U.S. deal would help “diversify our partnerships” and reduce Congo’s dependence on China for exploiting its vast mineral resources.
Kinshasa blames the looting of its mineral wealth for fueling the conflict with the M23 rebels in eastern Congo, whom it says are supported by Rwanda. Congo accuses Rwanda of smuggling minerals worth tens of millions of dollars monthly across the border.
Earlier this month, Massad Boulos, senior adviser to U.S. President Donald Trump, said Washington aims to secure a peace deal between the two countries this summer, alongside mineral agreements that could unlock billions in Western investment.
Meanwhile, Rwanda’s spokesperson Yolande Makolo said defensive measures along the border would remain as long as insecurity in the DRC continues.
The U.S. State Department did not immediately respond to a request for comment.