Post #75

🇨🇩In the DRC China Buys Entire Companies Chinese miners already have within their grasp some 70% of the DRC's cobalt production. Today, the scarlet banner of the PRC is rising above the Congolese gold sector. 🌏China’s Chengtun Mining Group is set to buy Canadian Loncor Gold for about $261 million — handing its Adumbi project in northeastern DRC to the Chinese miner. If it closes, the deal plants a Chinese flag near the country’s only large-scale producer of today - Kibali, which accounts for some 90% of the gold production in the DRC and which is owned evenly by Barrick and AngloGold Ashanti. It is not normal that those with whom the country has signed exploitation contracts are getting richer while our people remain poor… said Congolese president Tshisekedi in 2021. 💵 While the DRC is trying to harness the China-dominated cobalt sector and bring to life the US-sponsored peace framework along with Trump's another mineral deal, Beijing has a strong argument in favour of China's preserving (and even expanding) presence in the DRC - its seemingly endless money and rediness to invest in risky assets. Devils Below