The Democratic Republic of Congo has officially appointed former mining executive Louis Watum Kabamba as its new mines minister ahead of key decisions on investments and cobalt exports.
The government is currently engaged in crucial peace talks in Washington and Doha that could potentially bring an influx of Western investment into its mineral reserves.
These diplomatic talks, backed by the U.S. administration, aim to end the deadly fighting with Rwanda-backed M23 rebels that has displaced hundreds of thousands of people. The appointment of the new minister also coincides with a planned governmental review of the ban on cobalt exports that was recently extended in June.
The government is currently weighing whether to prolong the ban or implement a quota system to regulate exports while supporting domestic refining and industrialization. A commodity trader said Watum is known for his leadership and is expected to champion investor-friendly reforms while demanding deeper local benefits from the industry.
This expert suggests Watum’s approach will likely prioritize trade and commercial investments over political considerations, especially concerning the critical cobalt trade. He is also expected to support a proposed quota system, with allocations favoring larger producers who offer greater employment and social interventions.
The new cabinet appointments also included two opposition politicians: Floribert Anzuluni as regional integration and Adolph Muzito as budget minister. Prime Minister Judith Suminwa and the ministers of foreign affairs, defence, and interior were all left unchanged in their current positions.