The mineral-rich Democratic Republic of the Congo (DRC) is often portrayed as a victim of exploitation by China, the US and Europe in their...
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The US government's representative to the Mining Security Partnership charged last month that a Chinese company is distorting the mining market in the Democratic Republic of Congo. VOA correspondent Henry Wilkins reports on what this means for Africa. Last month, Jose W. Fernandez, the US government's representative to the Mineral Security Partnership (MSP), an alliance set up by Western countries in 2022, said that a Chinese mining company, CMOC, is artificially lowering the price of cobalt being mined. in the Democratic Republic of the Congo. Businesses sometimes use this tactic, which is illegal in some countries, to beat competition and create a monopoly. In a written response to VOA, the Chinese company CMOC says that “we strongly deny the allegations… This price fluctuation is within normal levels and is a true reflection of the supply and demand market.” The Mining Security Partnership aims to eliminate these artificial prices and reform the world's mining industry, where exploitation of workers and institutions in developing countries is common. Mr. Fernandez, who also serves as the US undersecretary of state for economic growth, energy and environment, says African minerals, such as cobalt, are essential to the world's transition to clean energy as climate change …
The mineral-rich Democratic Republic of the Congo (DRC) is often portrayed as a victim of exploitation by China, the US and Europe in their...
The mineral-rich Democratic Republic of the Congo (DRC) is often portrayed as a victim of exploitation by China, the US and Europe in their...
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