The mining company Union Minière du Haut Katanga was once the only player in the then Belgian Congo. The copper ore and uranium in the mines of Katanga in particular yielded important profits.
Even after independence, mining activities continued to develop. President Mobutu nationalized the former Union Minière into the state-owned company Gécamines. Due to mismanagement, corruption, conflict and a falling copper price, the export of mining products collapsed.
In the 2000s, after the revolution, more and more players entered the mining area and American, Chinese and Australian companies started mining the precious raw materials: copper, but also cobalt and zinc, among others. The profits flowed to foreign companies, and Congolese policymakers – including President Joseph Kabila – took more than a share.
Current President Etienne Tshisekedi made it a priority to keep the large profits from Congolese mineral resources in his own country. Processing more raw materials himself was one of his election promises.
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