The Democratic Republic of Congo and Rwanda on Dec. 4 signed a US-brokered peace deal in Washington, reiterating commitments to develop the critical mineral mining sector and promote US investment opportunities in the mineral-rich eastern region.
The Washington Accords for Peace and Prosperity aim to resolve conflicts in the region and promote economic cooperation between the two African countries. The accords reaffirm a peace agreement the two countries reached in June.
The US also signed several bilateral frameworks with the two countries that provide priority access to critical minerals. The agreements have the potential to unlock billions in critical mineral investments and provide the US with access to copper, cobalt and lithium deposits used for battery and technology supply chains. Congo supplies 71.4% of the world's cobalt and has become a major supplier of copper, according to S&P Global Market Intelligence data.
"The United States is also signing our own bilateral agreements with the Congo and Rwanda that will unlock new opportunities for the United States to access critical minerals and provide economic benefits for everybody, and we'll be involved with sending some of our biggest and greatest companies over to the two countries," US President Donald Trump said during the Dec. 4 signing ceremony.
Congo earlier this year proposed granting the US access to critical minerals in exchange for a security pact to target Rwandan-backed rebel group M23, which took control of mineral supply chains in the eastern part of the country. The US signed a memorandum of understanding with the country on an expanded security partnership as part of the accords agreements.
Despite the peace deal signing, fighting between Rwanda and Congo has continued almost unabated, according to news reports.
As part of the deal, Congo and Rwanda also signed a Regional Economic Integration Framework that includes investment opportunities in the mining, energy, infrastructure and industrial development sectors. The framework agreement also includes commitments to formalize artisanal and small-scale mining and opportunities for private sector investments.
US gets priority for Congo mineral investments
The US signed three bilateral agreements with the two African countries, including a US-Rwanda framework for economic prosperity and a strategic partnership agreement between the US and Congo.
The partnership between the US and Congo instructs the country to designate a list of critical mineral and gold assets, as well as exploration areas, as part of a strategic asset reserve. The agreement promotes investments by the US in new exploration programs and greenfield projects.
As part of the agreement, Congo will grant US interests a right of first offer for any reserve-related projects. The country will also explore the idea of a strategic mineral reserve to ensure the supply of critical minerals, such as cobalt, for the US.
In Rwanda, a separate bilateral framework "provides a platform for the United States and Rwanda to engage on mining and mineral processing, energy, and broader trade and investment promotion, outside the scope of the [Regional Economic Integration Framework]," Olivier Nduhungireh, Rwanda's Minister of Foreign Affairs and International Cooperation, said in a social media post.
Following the economic agreements with Rwanda and Congo, the United States and European Commission on Dec. 4 released a declaration of intent to restore the Lobito Corridor and initiate investments in the Great Lakes Region of Africa.
The Lobito Corridor links Congo to the Atlantic Ocean port of Lobito in Angola, providing a two-way trade route between Central Africa, the US and Europe.
Both countries will work on the infrastructure project with private sector leaders and African partners to rehabilitate and modernize the corridor, the statement said.
