The Democratic Republic of the Congo is looking to conclude a mineral agreement with the United States by the end of June.

 

rare minerals

The Democratic Republic of the Congo is looking to conclude a mineral agreement with the United States by the end of June.

The Financial Times reported on Sunday that officials from the Democratic Republic of Congo are optimistic about reaching an agreement with Washington next month to secure US investments in vital minerals, along with support for ending the Rwandan-backed rebellion in the east of the country.

The newspaper, citing two people close to the negotiations, said that an investment deal with the United States and a separate peace agreement with Rwanda are possible "by the end of June," but potential obstacles remain.

The Democratic Republic of Congo, which boasts vast reserves of cobalt, lithium, and uranium, among other minerals, is embroiled in a conflict against the Rwandan-backed M23 rebels, who this year seized control of large swathes of the east of the country.

Washington and Kyiv signed an agreement to exploit minerals, oil, and gas in Ukraine. The US administration says it aims to compensate for the "significant financial and material assistance" it has provided to Ukraine to defend its territory since the start of the Russian invasion in February 2022.

Last March, President Felix Tshisekedi of the Democratic Republic of the Congo said his country was ready to enter into a partnership with the United States under a minerals-for-security agreement.

In an interview with Fox News, Tshisekedi explained that this partnership would allow Congo to extract and process its vital minerals for American companies, while contributing to strengthening the country's defense and security capabilities.