Indian Mining Companies in the Democratic Republic of Congo

by Gregory Mthembu-Salter
SAIIA Policy Briefing No 35, October 2011
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Emerging Powers and Global Challenges Programme

The main mining companies in the Democratic Republic of Congo (DRC) are listed in Canada, Australia and the US. These companies are being steadily joined by Chinese state-owned operators. Although Indian mining companies have a growing presence in the copper, cobalt, tin and tantalum sectors, their operations remain relatively small scale, and none can yet be considered a mining major. Indian mining companies have lacked access to capital from Western stock exchanges and Indian state-owned banks. Instead, they have grown their operations primarily by reinvesting their own profits. Future prospects for Indian mining companies appear broadly positive. This is particularly the case for Mining Mineral Resources, which is positioning itself to become the main producer and processor of ‘conflict-free’ tin and tantalum. The main risk to Indian mining companies is political. As with other mining companies operating in Katanga, they are vulnerable to a change in policy from Moïse Katumbi’s successor as governor of the province.