DR Congo To Finalize Minerals Deal With Washington in June

The Democratic Republic of Congo (DRC) is preparing to finalize a minerals deal with the United States by the end of June. The initiative could combine a U.S.-backed peace agreement with Rwanda with expanded access for American companies to Congo's vast deposits of lithium, cobalt, and coltan—materials crucial to global technology and energy sectors.

According to the Financial Times (FT), two sources close to the negotiations indicated that an investment agreement and a peace framework could be achieved before the end of next month, although key obstacles remain unresolved.

DRC has long relied on Chinese investments and is turning to the West to develop its resource sector. Speaking for the FT, Congo's Mines Minister Kizito Pakabomba noted the government's desire to "diversify our partnerships," reducing dependency on Beijing. However, any deal will be closely tied to resolving the conflict in eastern Congo, where M23 rebels (allegedly supported by Rwanda) have seized key cities like Goma and Bukavu, after an escalation in January.

Kinshasa accuses Kigali of exploiting the unrest to smuggle millions of dollars' worth of minerals each month. Rwanda denies backing M23 but claims it is defending against hostile forces in the DRC. Talks have been complicated by Congo's insistence that no legitimized mineral trade involving Rwanda can occur until rebel fighters and Rwandan troops withdraw from occupied territory.

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The latest rumors have not clarified whether the deal will involve Erik Prince, the founder of Blackwater. Prince reportedly agreed with Congolese authorities before the January escalation to provide security and improve mineral tax collection. By April, sources suggested he could deploy contractors to safeguard revenue streams and reduce smuggling, particularly in copper-rich Katanga. Though his companies lack formal ties to the U.S. government, Prince's African connections make him a potentially influential player in any mineral governance framework.

Several companies stand to benefit from a U.S.-Congo partnership, but AI-powered startup KoBold Metals is especially well-positioned. Backed by investors like Bill Gates and Jeff Bezos, KoBold is preparing to invest billions in Congolese lithium deposits, viewing the region as a center in its mission to source critical minerals ethically.

KoBold's AI exploration tools can identify new reserves with greater accuracy and transparency. Thus, if diplomatic efforts succeed, the firm could create a flagship asset in one of the most resource-rich regions globally.

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Image: Shutterstock/Maksym Kapliuk