ARSP, the Congolese regulatory authority for subcontracting, has forged a new collaboration with China’s CMOC Group, the majority shareholder of Tenke Fungurume Mining (TFM), the world’s second-largest cobalt mine. The agreement aims to boost Congolese involvement in the project’s value chain.
Under the agreement, CMOC commits to ensuring that subcontractors at TFM are at least 51% Congolese-owned, aligning with regulations set by ARSP.
To facilitate this, ARSP will provide a list of recommended Congolese businesses to integrate into the project’s operations.
Initial subcontractors listed for the mining sector and TFM include Elephant Trade, Panaco, GHS, and Bofa, with ongoing updates to foster more connections between Congolese companies and international investors across various sectors.
This collaboration follows discussions between CMOC and ARSP Director-General Miguel Kashal Katemb, who lauded the initiative as a positive step toward increasing economic opportunities and job creation in the Lualaba region.
By ensuring Congolese participation in TFM’s value chain, ARSP and CMOC aim to maximize the economic benefits of the mine’s copper and cobalt reserves for the region’s development, aligning with President Félix Tshisekedi’s goal of generating millions of new jobs in the DRC.
