Congo officials cancel copper mining deal with China: US contributes to reduction of Chinese influence in African country

In July 2024, the Congolese mining company Chemaf Resources agreed to sell its assets to a Chinese subsidiary of the state defense company Norinco, the main weapons supplier to the Chinese army.

Norinco already owns two copper and cobalt mines in southeastern Congo. The assets that Norinco hoped to acquire from Chemaf included two operating mines, Mutoshi and Etoile, as well as mining licenses. Cobalt and copper are essential for military equipment, as they are used in ammunition, electrical wiring, and fighter jets.

Chemaf Resources had been looking for a buyer for several months after the fall in cobalt prices, which led to the company’s inability to complete its key projects. The company’s total debt amounted to $690 million in September 2023.