A loan and investment accord signed by China with the Democratic Republic of Congo will provide US$9bn for the African country's mining sector and infrastructure, the Congolese government has announced.
A third of the loan will go towards improving the mines to a point where they can produce, while US$6bn will be put aside for infrastructure, Planning Minister Olivier Kamitatu told Reuters.
In return, China's Sinohydro Corp and China Railway Engineering Corp have received a 68 percent stake in a joint venture with Congolese state copper miner Gecamines, with rights to two large copper and cobalt concessions.
By staff writer
