The Democratic Republic of Congo ordered Sinohydro Corp. and China Railway Construction Corp.’s local mining venture to stop exporting unprocessed copper and cobalt and refine all its metals within the country.
Sicomines must ship “only high-value products” as the government looks to “ensure the prompt repayment” of the country’s continuing $6 billion minerals-for-infrastructure deal with China, Mines Minister Martin Kabwelulu said Oct. 2 in response to questions sent by text message. Sicomines’ profit is paying off the loans China provides to Congo, which will be reimbursed quicker if the mine exports higher value, refined metals.
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