The $50 million pledged in December 2024 by President Félix Tshisekedi to restart operations at Société Minière de Bakwanga (MIBA) is available, but it has not yet been disbursed.
On Feb. 14, 2026, André Kabanda, the company’s director general, said the release of the funds now depends on shareholders concluding discussions on the company’s recapitalization, Ecofin Agency reported.
MIBA is owned 80% by the Congolese state and 20% by ASA Resource.
To preserve this ownership structure after the $50 million capital injection, the private shareholder would need to provide $12.5 million in proportion to its stake.
Current negotiations are centered on agreeing to these terms and resolving related issues.
Kabanda said a general shareholders’ meeting was held several weeks ago and is expected to be followed by a board meeting this week. He added that the state’s share of the funding has already been approved.
Don’t Miss This:
DRC Partially Lifts Suspension On Artisanal Copper-Cobalt Processing In Lualaba
The $50 million is intended to support a $70 million baseline recovery plan that was approved by the Council of Ministers in August 2025.
The plan aims to produce nearly 2.5 million carats in 2026. It focuses on five main areas: certifying mineral reserves, securing legal rights to mining concessions, making productive investments, managing personnel expenses, and setting up a monitoring and evaluation system.
This recovery plan forms part of a broader reform strategy developed by the Steering Committee for the Reform of State Portfolio Companies, Copirep, which is valued at more than $400 million.
On April 8, 2025, MIBA’s director general introduced four South African companies, Bond Equipment, Mining Services, Athur Mining, and Consulmet, that had expressed interest in supporting the restart of operations.
These companies were expected to submit bids to provide modern equipment after visiting MIBA’s facilities and mining sites. There has been no further update on that process.
Don’t Miss This:
DRC In Talks With Alibaba, Isoftstone To Build A Chinese-Style E-Commerce Framework
Image Credit: Ehud Arye Laniado
