DRC to unwind Chinese mining deals?
There are reports that the DRC government wants to rework the deal it signed with China in 2008 that allowed Chinese companies access to copper and cobalt projects in exchange for infrastructure investment. China has reportedly spent only US$900m on infrastructure so far, materially short of what was required in the agreement, but operations including the Sicomines Cu/Co JV have provided a lot of metal. Under the deal China was supposed to invest US$3.2bn in mining and US$3bn in infrastructure, but that hasn’t happened. This flare up in the DCR/China relationship comes as DRC and China are embroiled in another...