Watum, a seasoned executive, is appointed mines minister by Congo in a reshuffle
The Democratic Republic of Congo announced Friday that it has reshuffled its cabinet and hired former mining executive Louis Watum Kabamba as minister of mines, ahead of important decisions on cobalt exports and possible international investments.
The administration of U.S. President Donald Trump expects that Kinshasa’s participation in peace negotiations in Washington and Doha will attract Western investment into its huge reserves of vital minerals including as copper, tin, cobalt, lithium, and others.
The negotiations seek to put an end to the conflict with M23 rebels, who are backed by Rwanda and have killed thousands of people this year while displacing hundreds of thousands more.
Watum, who replaced Kizito Pakabomba, was appointed at the same time that Congo, the world’s largest source of cobalt, was scheduled to review a ban on exports of the metal that went into force in February and was extended in June.
The government is considering extending the ban or imposing a quota system to control exports of the vital battery metal while promoting industrialization and refining in the country.
Before becoming minister of mines, Watum served as minister of industry and small and medium-sized business development.
Randgold’s (RNGJ.J), well-known for his leadership at Ivanhoe Mines (IVN.TO), opens a new tab. Zack Hartwanger, head of commercial for Africa at Open Mineral, a Swiss commodity trader, stated that Watum is anticipated to advocate for investor-friendly reforms while calling for greater local benefits for the Kibali project, Kamoa Copper SA, and Congo’s Chamber of Mines.
“Watum has a pro-mining and business mindset. His strategy is probably going to put business and investment ahead of politics, particularly when it comes to cobalt,” Hartwanger stated.
“He’s expected to support the proposed quota system, with allocations favoring larger producers who offer greater employment potential and social interventions, while ensuring smaller operators retain access to export markets.”
A comment from Watum was not immediately available on Friday.
Adolph Muzito served as the budget minister and Floribert Anzuluni as regional integration, two opposition leaders, were also appointed to the new cabinet. In addition to Prime Minister Judith Suminwa, the interior, defense, and foreign ministers remained unaltered.
