Congo changes Gecamines leadership during discussions on minerals with the US
The president of the Democratic Republic of Congo has announced the replacement of the board chair and chief executive of state miner Gecamines, according to the government on Monday. This significant change occurs as negotiations with Washington regarding a minerals deal begin to take form.
According to an official statement read on state TV, Deogratias Ngele Masudi, a senior state official, will assume the role of the new chair, while Baraka Kabemba will be appointed as the chief executive.
Guy Robert Lukama, the former chair of Gecamines, has been appointed as the CEO of the Kilo-Moto Gold Mining Company, assuming leadership of one of Congo’s oldest state-run gold producers, according to the statement. There has been no announcement regarding a new appointment for former CEO Placide Nkala Basadilua.
The connection between the reshuffle and the talks remains uncertain, as Congo seeks to persuade the United States to facilitate increased Western investments in its extensive minerals sector, in accordance with their minerals cooperation agreement linked to security assurances.
We couldn’t reach Masudi and Kabemba for comment at this time.
Congo submits asset list to Washington
Reuters previously reported that Kinshasa had provided a shortlist of assets—including manganese, copper-cobalt, gold, lithium, and hydrocarbon projects—for U.S. investors to evaluate, representing the most definitive move in the partnership.
The list features assets from Chemaf, a Dubai-based miner and financially troubled copper-cobalt producer, which U.S.-backed Virtus Minerals has consented to purchase for approximately $30 million, along with its significant debt obligations.
Gecamines holds the lease for Chemaf’s mines, and any attempt to gain control of the company must receive its approval first.
Masudi, a former justice minister, has previously held the position of director general at Gecamines, the entity that possesses the majority of Congo’s mineral licenses and leases them to investors.
