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Building on success in the Democratic Republic of Congo

Congo

Tapping Congo Potential

The Democratic Republic of Congo (DRC) is making a solid recovery from the impacts of civil war. In an era of improving business confidence, Government and private industry are unlocking the potential of one of the most important copper provinces in the world.

The Congo, formerly a Belgian colony became an independent republic in 1960. The Congo was renamed Zaire in 1971 by the then President Mobutu but became the Democratic Republic of Congo under the presidency of Laurent Kabila in 1997.

A massive influx of refugees from the 1994 internal conflicts in Burundi and Rwanda contributed to an outbreak of civil war in the Congo in 1998.

When Laurent Kabila was killed in 2001, he was succeeded by his son Joseph, who moved to establish a Government of national unity preparing for an election before June 30, 2006. A program of reconciliation and recovery has laid the foundations for a steady improvement in the country’s fortunes.

One of the new Government’s top priorities has been the revitalisation of the national economy. As part of this process, the Government has adopted an Australian-style mining act based on security of tenure and encouragement for mineral exploration and development.

As a result, some of the world’s major resource companies are investing in new projects – particularly in Katanga Province, where Anvil has substantial mineral interests. The area has enormous potential wealth with some of the world’s richest deposits of copper and cobalt.

Much has changed in the DRC during the past four years. The Government has signed accords with most of its neighbours and the United Nations has established a 16,000 strong permanent mission in the country.

Economic recovery is being underpinned by foreign aid and the involvement of organisations like the World Bank (MIGA), which has provided Anvil with political risk insurance.

The combination of improved investment conditions and substantial economic resources has laid the foundations for significant economic development and community benefits.

For more information about the DR Congo, click the following link:

www.anvil.com.au

 

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